Global Digital Mining market will reach 8.9 Billion US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/14

The need for breakthrough technologies and techniques to improve mining productivity and performance is expected to increase the demand for digital mining. For decades, the nature of mining has remained unchanged despite the booms in the industry. The strategy of sweating existing assets to increase productivity has not yielded much for mining companies. The global digital mining market is predicted to gain from the need to transform important aspects of mining through digital and technological innovations. The demand for digital mining is foreseen to improve in the coming years as the mining industry is facing troubles due to the maturity of existing mines and cash flow reduction because of decreasing commodity prices.

Although digital mining is considered as the next wave of business transformation in the mining industry, there are some challenges that players could be faced with. For instance, mining companies adopting digital mining will need to manage their workforce skill mix to maintain competitiveness in the digital domain. Furthermore, the transition from legacy systems comes with difficulties in maintaining business continuity. On the other hand, it could be difficult to strike the right balance between maintaining future competitiveness and the risk of adopting new technologies.

The global digital mining market is projected to earn around US$8.9 Bn in revenue by the end of 2025 while rising at an exponential CAGR of 11.73% during the forecast period 2019-2025. In 2018, it attained a valuation of approximately US$4.1 Bn.

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