Digital Mining Market to Surge with 9.6 % CAGR, Global Revenue to Exceed US$ 19.83 Billion by 2032

The digital mining market is witnessing rapid growth owing to rising adoption of new digital solutions and significant growth of the mining sector.

NEW YORK CITY, NEW YORK, UNITED STATES, September 3, 2024 /EINPresswire.com/ -- 𝐀𝐜𝐜𝐨𝐫𝐝𝐢𝐧𝐠 𝐭𝐨 𝐨𝐮𝐫 𝐥𝐚𝐭𝐞𝐬𝐭 𝐬𝐭𝐮𝐝𝐲, 𝐭𝐡𝐞 𝐝𝐢𝐠𝐢𝐭𝐚𝐥 𝐦𝐢𝐧𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐠𝐫𝐨𝐰. 𝐓𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 𝐔𝐒𝐃 8.78 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 2023 𝐚𝐧𝐝 𝐢𝐬 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐭𝐨 𝐠𝐫𝐨𝐰 𝐭𝐨 𝐔𝐒𝐃 19.83 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 2032, 𝐞𝐱𝐡𝐢𝐛𝐢𝐭𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 9.6% 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
Digital mining is the use of advanced tools and technologies to enhance the safety, efficiency, and sustainability of mining tasks. It encompasses a wide range of tools, including autonomous vehicles, predictive maintenance, and vehicle control systems. Also, advanced technologies such as artificial intelligence, data analytics, blockchain and IoT are included in digital mining. These tools and technologies facilitate the monitoring of mining equipment in real-time.

Using unmanned machines and vehicles, mining sites can ensure the safety of miners in deep underground mining. Besides, blockchain and IoT promote responsible sourcing by ensuring traceability and transparency in the mining supply chain. The rising emphasis on sustainable mining operations and implementations of regulatory policies to reduce ecological footprint drives the digital mining market demand.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/digital-mining-market/request-for-sample

𝐄𝐬𝐬𝐞𝐧𝐭𝐢𝐚𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬:
• The global digital mining industry was valued at USD 8.78 billion in 2023 and is anticipated to reach USD 19.83 billion by 2032.

• The growing mining sector and the increasing adoption of new digital solutions are the primary factors driving the need for digital mining.

• The digital mining market segmentation is primarily based on technology, application, and region.

• By region, Europe is anticipated to account for significant growth in the digital mining market.

𝐓𝐨𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:
Industry participants are increasingly focusing on local manufacturing to reduce operational costs. Also, they are making significant investments in R&D initiatives to expand their product offerings.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐥𝐞𝐚𝐝𝐢𝐧𝐠 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞:
• Caterpillar
• Hexagon AB
• IBM
• Komatsu Mining Corp.
• Rockwell Automation, Inc.
• Sandvik AB
• SAP
• Siemens

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬 𝐚𝐧𝐝 𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:

Growing Mining Sector: There is increased demand for metals from industries such as energy, infrastructure, automotive, machinery, and cosmetics. In addition, governments worldwide are supporting the mining industry to lower its ecological footprint and speed up the development of clean energy. This, in turn, drives the digital mining market demand.

Rising Adoption of New Digital Solutions: In recent years, there has been an increase in the use of digital solutions in mining processes. These solutions improve the safety and efficiency of mining operations while reducing downtime. Also, they enable the collection and analysis of vast data amounts from mining operations.

𝐓𝐫𝐞𝐧𝐝𝐬:

Government Regulations: There are numerous opportunities for unexplored metal and mineral deposits. As such, governments worldwide are developing apt regulations to attract investments and improve their business environment, impacting market sales favorably.

Leading Market Regions:
The research study offers insights into several regions and sub-regions of the market. The major regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Europe is projected to witness significant growth over the estimated period. The region’s robust growth can be attributed to ongoing technological advancements that have the potential to reduce emissions and lower energy consumption. Besides, increasing research initiatives are having a positive impact on the regional market expansion.

North America is anticipated to witness the fastest CAGR in the digital mining market. This is due to the higher adoption of digital mining and the availability of favorable regulatory policies in the region. Also, the presence of major companies further propels the market growth in the region.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐁𝐞𝐟𝐨𝐫𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞:
https://www.polarismarketresearch.com/industry-analysis/digital-mining-market/request-for-discount-pricing

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐌𝐢𝐧𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 – 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:
• Automation & robotics
• Real-time analytics
• Cybersecurity
• Other

𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐌𝐢𝐧𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 – 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:
• Iron & ferro alloys
• Non-ferrous metals
• Precious metals
• Other

𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐌𝐢𝐧𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 – 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:
• North America
o US
o Canada

• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Vietnam
o Rest of Asia Pacific

• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of Middle East & Africa

• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐦𝐨𝐫𝐞 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐛𝐞𝐟𝐨𝐫𝐞 𝐩𝐮𝐫𝐜𝐡𝐚𝐬𝐞:
https://www.polarismarketresearch.com/industry-analysis/digital-mining-market/inquire-before-buying

𝐅𝐀𝐐𝐬:

What is the growth rate of the digital mining market?
The market is anticipated to grow at a CAGR of 9.6% during the forecast period, 2024 to 2032.

Which technology led the digital mining market in 2023?
The automation & robotics segment dominated the market in 2023.

Who are the key players in the market?
The key players in the market are ABB, Caterpillar, Hexagon AB, IBM, Komatsu Mining Corp., Rockwell Automation, Inc., Sandvik AB, SAP, and Siemens.

Which application segment had the largest market share?
The precious metal segment accounted for the largest share of the global market.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

𝐌𝐢𝐜𝐫𝐨 𝐌𝐨𝐛𝐢𝐥𝐞 𝐃𝐚𝐭𝐚 𝐂𝐞𝐧𝐭𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/micro-mobile-data-center-market

𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐑𝐚𝐝𝐚𝐫 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/digital-radar-market

𝐑𝐨𝐛𝐨𝐭𝐢𝐜 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/robotic-platform-market

𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 (𝐎𝐓) 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/operational-technology-ot-security-market

𝐐𝐮𝐚𝐧𝐭𝐮𝐦 𝐂𝐨𝐦𝐩𝐮𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/quantum-computing-market

𝐀𝐛𝐨𝐮𝐭 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.

Likhil G
Polaris Market Research and Consulting
+1 929-297-9727
sales@polarismarketresearch.com
Visit us on social media:
Facebook
X
LinkedIn