Global$15.86 Billion Smart Mining Market Outlook 2029 [Yahoo! Finance]
ABB Ltd (ABB)
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Source: Yahoo! Finance
Global Smart Mining Market is anticipated to cross USD 30 Billion by 2029, increasing from USD 15.86 Billion in 2023. The market is expected to grow with 11.85% CAGR by 2024-29. The emergence of smart mining represents a paradigm shift in the industry's approach to resource extraction. Smart mining integrates cutting-edge technologies to address longstanding challenges and optimize the entire mining process. The integration of smart mining into mining operations will become more significant due to changes in business practices, heightened safety requirements, and improved decision-making processes. The implementation of artificial intelligence in mining operations transforms the focus from people-oriented to process-oriented. By incorporating AI, intelligent mining improves the supply chain through real-time shipment tracking, predictive maintenance of mines, efficient inventory management, and more. This digital integration of automated mining equipment and analytics platforms s
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