The global connected mining market is projected to reach $32.63 billion by 2031, growing at a CAGR of 13.3% from 2022 to 2031. The rise in internet of things (IoT) and increased investment in simulation technology have boosted the growth of the global connected mining market. However, dearth of skilled workforce and surge in operational cost along with productivity challenges hinder the market growth. The Covid-19 pandemic positively affected the demand for connected mining due to the rapid adoption of emerging technologies such as industrial internet of things (IIoT), artificial intelligence-powered solutions, cloud-based technologies, and big data.
