Blockchain Press Releases
Connected Mining Market worth $22.7 billion by 2028 – Exclusive Report by MarketsandMarkets™
CHICAGO, Aug. 2, 2023 /PRNewswire/ — IoT, AI, and 5G technological breakthroughs will have a major impact on the direction of the market for connected mining. As a result, mining operations will become more automated, operate remotely, and put an emphasis on sustainability and safety. Collaboration ecosystems, edge computing, and cybersecurity will all be crucial in advancing industry innovation and productivity.
The global Connected Mining Market is expected worth USD 13.3 billion in 2023 and USD 22.7 billion by 2028, growing at CAGR of 11.3% during the forecast period, according to a new report by MarketsandMarkets™. The need for real-time data analytics and decision-making in mining operations is fueling the adoption of connected mining technologies.
Browse in-depth TOC on “Connected Mining Market“
306 – Tables
48 – Figures
264 – Pages
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Scope of the Report
|
Report Metrics |
Details |
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Market size available for years |
2023-2028 |
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Base year considered |
2022 |
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Forecast period |
2023-2028 |
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Forecast units |
Value (USD) Million/Billion |
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Segments Covered |
By Component, Solutions, Services, Mining Type, deployment mode, Application, Regions |
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Region covered |
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America |
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Companies covered |
ABB (Switzerland), IBM (US), SAP (Germany), Cisco (US), Schneider Electric (France), Komatsu (Japan), Hexagon (Sweden), Caterpillar (US), Rockwell Automation (US), Trimble (US), Siemens (Germany), Howden (Scotland), Accenture (Ireland), PTC (US), Hitachi (Japan), Eurotech Communication (Israel), Wipro (India), MST Global (US), GE Digital (US), Symboticware (Canada), Getac (Taiwan), IntelliSense.io (UK), Zyfra (Finland), Axora (UK), GroundHog (US), SmartMining SpA (Chile), and Applied Vehicle Analysis (Africa). |
The Solution segment to record the higher market share during the forecast period
During the forecast period, the Solution segment is anticipated to achieve a higher market share in the Connected Mining Market. The demand for integrated and customized solutions is expected to grow significantly as the mining industry increasingly focuses on digital transformation and operational efficiency. The Solution segment is poised to dominate the market by providing mining companies with the tools and capabilities to address their specific challenges and achieve sustainable growth. With continuous technological advancements and increasing capabilities of connected mining solutions, the Solution segment is well-positioned to lead the market during the forecast period.
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By Mining type, the Surface segment is expected to hold a larger market share during the forecast period
By mining type, the Surface segment is expected to hold a larger market share during the forecast period in the Connected Mining Market. Surface mining refers to the extraction of minerals and resources from the Earth’s surface, such as open-pit mining and strip mining. This type of mining is widely used for coal, iron ore, copper, and other minerals closer to the surface. Connected mining solutions offer significant benefits in surface mining operations, enabling real-time equipment monitoring, efficient fleet management, and optimized resource utilization. The ability to track and manage surface mining operations in real-time enhances safety measures, reduces operational costs, and improves overall productivity fueling market growth.
Asia Pacific to hold the larger market size during the forecast period
During the forecast period, the Asia Pacific region is expected to hold a larger market size in the Connected Mining Market. The Asia Pacific region is rich in mineral resources and has witnessed significant growth in mining activities in recent years. The increasing demand for metals, minerals, and resources from various industries, coupled with rapid urbanization and infrastructure development in the region, drives the need for efficient mining operations. As a result, mining companies in the Asia Pacific are increasingly adopting connected mining solutions to improve operational efficiency, safety, and sustainability.
Top Key Companies in Connected Mining Market:
The major players in the Connected Mining Market are ABB (Switzerland), IBM (US), SAP (Germany), Cisco (US), Schneider Electric (France), Komatsu (Japan), Hexagon (Sweden), Caterpillar (US), Rockwell Automation (US), Trimble (US), Siemens (Germany), Howden (Scotland), Accenture (Ireland), PTC (US), Hitachi (Japan), Eurotech Communication (Israel), Wipro (India), MST Global (US), GE Digital (US), Symboticware (Canada), Getac (Taiwan), IntelliSense.io (UK), Zyfra (Finland), Axora (UK), GroundHog (US), SmartMining SpA (Chile), and Applied Vehicle Analysis (Africa).
Recent Developments
- June 2022 – Metso Outotec and Dynamox worked together to implement the condition monitoring platform of Dynamox in mining and aggregating operations. The solution is being provided by Metso Outotec to the installed equipment base of the business. Dynamox is a new member of the Metso Outotec partner ecosystem and aids in creating and offering customers simple-to-use digital solutions. The corporation is leveraging analytics and AI to further advance its mining operations.
- November 2021 – Hexagon AB, a market pioneer in virtual reality solutions, introduced the HxGN MineEnterprise Platform in November 2021. This new product is intended to increase real-time data management and analytics for mining operations.
- August 2021 – A cooperation between Caterpillar and BHP, a global mining, oil, and metals corporation, was established. In order to reduce greenhouse gas (GHG) emissions at BHP’s mining locations around the world, the alliance planned to build and execute zero-emissions mining vehicles. In order to enable future mine sites and emission-free machinery, the alliance would help shape the processes, infrastructure, and technology needed.
- August 2021 – To improve its position in the Connected Mining Market, Komatsu Ltd., a top manufacturer of mining equipment, said in August 2021 that it had acquired Immersive Technologies, a supplier of training solutions for the mining sector.
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Connected Mining Market Advantages:
- Real-time monitoring of machinery, the environment, and employees is made possible by connected mining technology like IoT sensors and wearables. As a result, there are fewer chances of accidents occurring and possible hazards are given early warnings.
- Connected Mining improves workflows, equipment use, and maintenance schedules by integrating data from diverse mining processes. As a result, operational effectiveness is improved, downtime is decreased, and productivity is raised overall.
- Connected Mining provides predictive maintenance of mining equipment using data analytics and machine learning. Preventing unforeseen malfunctions, lowering repair costs, and extending equipment lifespan all result from proactive maintenance needs assessment.
- With connected mining, mining operations may be remotely monitored and managed from centralised control points. This makes it possible to make decisions and changes in real-time to increase efficiency, especially in difficult-to-reach places.
- Connected Mining supports resource management optimisation by utilising data-driven insights to reduce resource utilisation such as water and electricity use. This lowers operating expenses and lessens the impact of mining operations on the environment.
- Connected Mining promotes more environmentally friendly mining techniques by streamlining operations and resource use. This entails cutting back on carbon emissions, water use, and the mining industry’s total ecological imprint.
- Real-time data analytics and reporting are offered by connected mining platforms, which enable stakeholders to learn useful information about various elements of mining operations. Better strategic planning and decision-making are made possible by this data-driven methodology.
- Better communication and cooperation amongst various stakeholders, including miners, engineers, and management, are encouraged by connected mining. With better coordination as a result of this improved connectedness, operations become more effective.
- Regulations pertaining to safety, environmental protection, and working conditions can be met with the help of connected mining solutions. This guarantees that mining firms operate in accordance with pertinent laws and norms.
Report Objectives
- To define, describe, and forecast the Connected Mining Market based on segments based on offering, solutions, services, mining type, deployment mode, and application, with regions covered.
- To forecast the size of the market segments with respect to five regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.
- To provide detailed information on the major factors (drivers, opportunities, threats, and challenges) influencing the growth of the Connected Mining Market.
- To analyze each submarket with respect to individual growth trends, prospects, and contributions to the global Connected Mining Market.
- To analyze opportunities in the market for stakeholders by identifying high-growth segments of the global Connected Mining Market.
- To profile the key market players, such as top and emerging vendors; provide a comparative analysis based on their business overviews, product offerings, and business strategies; and illustrate the market’s competitive landscape.
- To track and analyze competitive developments in the market, such as new product launches, product enhancements, partnerships, acquisitions, and agreements and collaborations.
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About MarketsandMarkets™
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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
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Blockchain Press Releases
Market Eyes “Crypto President” Inauguration as BTC Tumbles at $100K: Bybit and Block Scholes Analysis
DUBAI, UAE, Jan. 10, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has released the latest crypto derivatives report, published weekly with Blocks Scholes. Noting BTC’s retreat from the $100k mark a week into the new year, the analysis showed on-risk assets including crypto bore the brunt of broader macro factors. Past week’s data indicates heightened uncertainty in market dynamics ahead of Trump’s anticipated Jan. 21 inauguration, highlighting shifting investor sentiment during this significant political transition.
Key Insights:
Perpetuals Took a Winter Break: The perpetual swap market experienced a notable decline in liquidity over the holidays, with trading volumes winding down throughout Dec. 2024, leading to decreased realized volatility across the market. Notably, open interest maintained stability compared to levels preceding the great expiration of options contracts in Dec. 2024, indicating conservative positioning and limited hedging activity in perpetual swap markets.
Wide Disparity Between 30-Day Implied Volatility and 7-Day Realized Volatility: ETH’s options markets signalled an unmistakable preference for call options. In contrast, BTC’s open interest is rebalancing after the expiration in Dec. 2024. Both ETH and BTC have experienced notable changes in their term structures heading into the new year. The sharp divergence between implied and realized volatility is at its largest since the U.S. elections, suggesting that options traders are paying a premium to price in a higher level of risk or volatility despite the calm at the surface.
ETH Calls Gaining Traction
There has been a reshuffling in ETH open interest. While put options still hold sway in terms of total volume, call contracts have seen an uptick after Dec. However, the optimism comes with a caveat—the decline in realized volatility in the year so far has given options traders pause. The volatility term structure has steepened further, with short-term volatility (measured at a 30-day tenor) still sitting more than 15 points above its realized counterpart. This gap is the widest since the pre-election period of 2024, when geopolitical uncertainty fueled volatility premiums. Today, however, the premium seems driven more by general speculation than by any specific event. Even as the market settles, investors remain cautious, signaling looming uncertainty.
Access the Full Report here.
#Bybit / #TheCryptoArk /#BybitResearch
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
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Blockchain Press Releases
HTX 2025 Outlook: Five Sectors to Look Forward to, and How Trump’s Policy Will Affect Crypto Industry
SINGAPORE, Jan. 10, 2025 /PRNewswire/ — The year 2024 marks a significant chapter in the history of the crypto industry, where we witnessed continuous breakthroughs in blockchain technology, surges in Bitcoin price, and a gradually more open regulatory environment, with cryptocurrencies gaining increasing recognition from the mainstream. As 2025 unfolds, HTX, the world’s leading digital asset exchange, has released its latest report, HTX 2024 Global Web3 Blockchain Ecosystem Review and 2025 Outlook, which provides forward-looking insights into the development prospects of the crypto industry.
Key Sectors for 2025
In the report, HTX highlighted five key sectors that showed encouraging progress last year, and will continue to closely monitor these areas in 2025.
Bitcoin Ecosystem
In 2024, Bitcoin’s market dominance kept increasing, solidifying its position as the core asset, with spot ETFs acting as liquidity channels, and U.S. listed companies such as MicroStrategy (MSTR) serving as the vehicles to absorb unlimited dollar liquidity.
As a result, it is increasingly essential to further develop Bitcoin’s ecosystem and enhance capital utilization efficiency. With strong support from macro markets and infrastructure support, a further surge in Bitcoin demand over the next two years is well-anticipated.
Infrastructure
Infrastructure remained a cornerstone in 2024’s crypto investments and funding. The synergy between capital and technology has driven the rapid development of Layer 1, Layer 2, and middleware projects, among others.
Layer 1 solutions, in particular, now represent the focal point of technical development and exploration within the crypto space, and it is expected to remain a priority for development resources and capital investment in the future.
Meme Coins
The Meme coin sector emerged as a hotspot in 2024, fostering community consensus while integrating with fields like DeFi and GameFi to create new use cases. As the crypto market environment grows increasingly favorable, more retail investors are expected to enter the market, positioning Meme projects as vital channels for capital inflows.
AI
In 2024, the intersection of Crypto and AI sector has been driving the exploration of several segmented fields, the hottest one of which is AI agents. In the future, AI agents will gradually become personal butlers and assistants for users, serving them with comprehensive capabilities. Over time, they may develop unique cultures and religions.
This deep integration of AI and encryption technology is a groundbreaking evolution that is unattainable within Web2 and cannot be achieved by Web3 relying solely on encryption technology.
TON Ecosystem
Attributable to Telegram’s hundreds of millions of users and robust technical support, the TON ecosystem achieved significant milestones in various fields, pioneering the monetization of Web2 social applications through crypto. Moving into 2025, it needs to explore and find new business models to improve user retention and identify its next growth curve.
Donald Trump Effect: Bitcoin Strategic Reserve Worth Anticipating
The report also discusses the potential impact of crypto-friendly policies that could arise after Donald Trump takes office. Two important bills, the FIT21 Act and the Bitcoin Strategic Reserve Act, are likely to pass more quickly thanks to him.
The FIT21 Act aims to create a clear legal framework for token issuance and trading by classifying tokens as digital assets or digital commodities, transferring the regulatory responsibilities of many blockchain projects from the SEC to the CFTC, and introducing a safe harbor mechanism. This would help standardize and promote the healthy growth of the entire industry.
The Bitcoin Strategic Reserve Act, aligning with Trump’s campaign promises, if passed, would mark Bitcoin’s transition from a niche asset to a nationally recognized reserve asset, greatly enhancing its legitimacy and recognition. It may also prompt other countries to adopt similar measures to further advance Bitcoin’s global recognition and application.
The Act was submitted to Congress for deliberation on August 4, 2024, and referred to the Senate Banking Committee for review. Trump is well-positioned to push this bill through. Meanwhile, several U.S. states have already proposed their own Bitcoin Strategic Reserve bills. By 2025, Bitcoin as a strategic reserve may become a reality.
Additionally, under Trump’s presidency, the SAB121 Act is likely to be repealed, allowing traditional financial institutions to hold cryptocurrencies on their balance sheets, further accelerating the institutionalization of crypto assets and contributing to the overall maturity of the crypto market. The SEC’s application criteria of the Howey Test may also be relaxed, increasing the likelihood of more spot crypto ETFs being approved and more public listings of crypto companies.
Meanwhile, the report also provides a comprehensive summary of 2024, looking back on the key events that had a major impact on the crypto industry while summing up what HTX had achieved over the last year.
To learn more, please visit: https://square.htx.com/htx-2024-global-web3-blockchain-ecosystem-review-and-2025-outlook/
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.
As a world-leading gateway to Web3, we harbor global capabilities that enable us to provide users with safe and reliable services.
Our growth strategy – “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, underpins our commitment to providing quality services and values to virtual asset enthusiasts worldwide.
Contact Details
Ruder Finn Asia
[email protected]
Company Website
https://www.htx.com
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Blockchain Press Releases
Vietnam’s Youth Rally Behind Blockchain: KuCoin Reveals Groundbreaking Insights at VTIS 2024
HANOI, Vietnam, Jan. 10, 2025 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to share the findings from its second edition of the KuCoin Campus Survey, conducted during the Vietnam Technology & Investment Summit (VTIS) 2024. With 926 participants surveyed from December 3rd to December 4th, 2024, the results underscore the vibrant interest in blockchain technologies among Vietnam’s youth, reinforcing KuCoin’s commitment to nurturing this vital market.
The survey, a key initiative under KuCoin Campus, highlights a strong, positive sentiment towards cryptocurrencies, with 92% of participants optimistic about the future of digital assets. Remarkably, 82% of respondents are considering blockchain-related careers, signaling a burgeoning talent pool eager for development and opportunities within the industry.
Vietnam’s strategic importance to both KuCoin and the broader crypto community is evident as 68% of participants expressed a “very high interest” in blockchain, making it a critical hub for crypto innovations and community engagement. Additionally, 73% of respondents currently hold cryptocurrencies, demonstrating a mature market ready for further expansion and adoption.
The survey also uncovered a significant inclination towards diverse blockchain roles, with data analysis (24%), marketing (22%), and business development (21%) being the most coveted. These insights are invaluable as they highlight the areas of highest potential and interest among the future workforce.
“Vietnam has been and will continue to be a key market for us,” said Alicia Kao, the Managing Director of KuCoin. “As the People’s Exchange, we are committed to empowering and equipping this new generation with the tools they need to succeed in the evolving digital landscape.”
View the full report here (EN version, VN Version), or visit KuCoin’s official website for further information.
About KuCoin
Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 37 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots. KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. These recognitions reflect its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence.
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