Mining Laboratory Automation Market is expected to be valued at USD 391.8 million in 2022 and is poised to grow at a significant CAGR of 1.9% over 2022–2028. Lab Automation is the process in which tools and equipment can be measured with minimum interaction. Laboratory automation is the integration of automated technologies into the laboratory to empower new and improved processes. The market of mining laboratory automation market is primarily driven by the increasing demand for automation equipment in the mining industry to augment productivity and improve workers’ safety. Additionally, during COVID-19 pandemic has also driven the demand for automation primarily to cope with the shortage of labour, and is further expected to rise over the forecasted period. Furthermore, the deployment of automation, AI, and robotics is increasing due to maximizing productivity and reducing operational costs for laboratories, which is further anticipated to boost market growth. However, higher initial setup costs such as the cost to set the laboratory automation module, including software, increase the overall cost, which is restricting the market growth to some extent. Numerous mining operations make partnerships with technology-based industries to deploy and innovate creative solutions in their operations, to enhance the safety of the people working in the mines. Furthermore, many technological advancements take place which provides numerous growth opportunities. For instance, In March 2020, Nokia collaborated with CENGN and NORCAT to make installation and operate a private LTE/4.9G wireless connectivity network in NORCAT’s underground Centre.
Recent Market Developments:
In April 2020 – Bruker Corporation launched its benchtop energy dispersive X-ray Fluorescence (EDXRF) spectrometer, S2PUMA Series 2, which is equipped with high sense technology for increases in quantity by about a factor of three times. It comes with more features and faster algorithms, leading to circa-40% shorter evaluation times.