Smart Mining Market Research Report


Smart Mining Market

Smart Mining Market touched USD 6,800 Million in 2019 and is projected to witness a promising CAGR of 20% over the forecast period (2020-2027), owing to their growing use in surface mining.

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Smart mining technologies is the most secure and eco-friendly method as compared to the conventional techniques. The increasing adoption of smart mining technologies by leading companies to attain sustainable growth and growing deployment of latest mining technologies in place of obsolete techniques are the major drivers fueling the global smart mining market. For example, IBM and Shell, in 2020 entered in a partnership to develop a new smart mining platform integrated with artificial intelligence to help the mining sector enhance with improved safety and health monitoring. However, lack of suitable infrastructure and huge investment cost required to adopt the latest technologies are hampering the market’s growth.

By automated equipment, excavators’ segment is expected to grow at a higher CAGR over the forecast period, owing to the increasing adoption of latest excavators. For example, an electric-hydraulic excavator offers enormous advantages, such as lower CO2 emissions, no need for consumables like oil and filters over other equipment like electric power.

By software solutions, logistics software is predicted to lead the market over the forecast period, owing to the advent of digital technologies. Leading players such as Cisco, Caterpillar, and Siemens have developed software & solutions to cater to the safety norms of the National Mining Association and Mine Safety and Health Administration (MSHA). For instance, Siemens in 2020 introduced a latest platform for producing customer specific apps for distribution grids which is A8000 with the strong CP-8050 processor module, which is surging the growth of the market.

By region, Asia-Pacific is anticipated to dominate the market over the forecast period. China is the largest coal producer, thus, the growing adoption of smart mining technologies in China helps prevent accidents.

Leading players operating in the market include ABB, Komatsu Ltd., IBM, Metso Outotec, Atlas Copco, Caterpillar, CISCO, ALE International, ALE USA Inc., Joy Global, and Rockwell Automation, among others.

Key Developments:

In 2020, IBM and Shell developed a latest platform for smart mining platform with autonomous mining equipment to captivate key mining firms, which helped in completing the company’s sales target.

In 2019, ABB developed a digital portfolio for optimizing the world’s most effective mines across the globe to maximize the productivity of the operations.

Smart Mining Market Segmentation:

Smart Mining Market by Automated Equipment

  • Excavators
  • Load Haul Dump
  • Drillers & Breakers
  • Robotic Truck
  • Other

Smart mining Market by Hardware Components

  • Sensors
  • RFID Tags
  • Intelligent Systems
  • Others

Smart mining Market by Software Solutions

  • Logistics Software
  • Data and Operation Management Software
  • Safety and Security Systems
  • Connectivity Solutions
  • Analytics Solutions
  • Remote Management Solutions
  • Asset Management Solutions

Smart mining Market by Services

  • Support and Maintenance
  • System Integration and Implementation Services
  • Product Training Services
  • Consulting Services

Smart Mining Market by Region:

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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