Smart mining technologies include integration of hardware and software to improve the mining productivities and reduce the operational time and costs. Mining companies emphasize on enhancing productivity by providing state-of-the-art software & solutions. These software & solutions are integrated with the equipment, personnel, and operations to obtain enhanced safety and higher material extraction from the mining operations. These technologies find applications in both underground and surface (open pit & open cast) mining operations.
The global smart mining market size was valued at $9.3 billion in 2019 and is expected to reach $23.4 billion by 2027, growing at a CAGR of 16.3% from 2020 to 2027.
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Major Key Players of the Smart Mining Market are:
The key players profiled in the report include ABB Ltd., Rockwell Automation, Inc., Komatsu Ltd., Trimble Navigation Limited, Caterpillar Inc., Hitachi Construction Machinery Co., Ltd., Robert Bosch GmbH, Sandvik AB, Cisco Systems, Inc., and Hexagon AB.
Over the years, we have been administering market intelligence studies across an array of industries for organizations of different types such as profit & not-for-profit organizations, big-scale & large-scale organizations, and many more. We look at numerous aspects of internal & external business environment disturbing the growth stratagems of business ventures.
The global Smart Mining report offers quantitative and qualitative analysis of the market from 2021 to 2027. The qualitative study emphasizes on the value chain analysis, pain point analysis, and key regulations.
- Value chain analysis: AMR offers a complete analysis of all the stages along with the key stakeholders functioning in every stage with their strategic decisions on board.
- Key regulations: Allied Market Research provides key regulations and standards for the Smart Mining Market. The section also presents some of the regulatory documents of the product type.
- Pain point analysis: The report also offers insights on the key challenges faced by the stakeholders in the industry. The strategic decisions adopted by the market players to maintain their foothold in the market are also discussed through the report.
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COVID-19 Impact Analysis on the global Smart Mining:
The outbreak of the pandemic has had a huge impact across the globe, which impeded the socio-economic development. Therefore, the Smart Mining Market report doles out a micro- and macro-economic assessment of the industry throughout the pandemic. The study further provides a qualitative breakdown of the impact of Covid-19 on the market.
Key Market Segments –
The global smart mining market is divided on the basis of type, category, and region.
By type, the market is segmented into underground mining and surface or open pit mining.
By category, the market is classified into automated equipment and component. The automated equipment includes excavators, load haul dump, drillers & breakers, robotic trucks, and other automated equipment.
By component, the global smart mining market is categorized into hardware, software & solution, and services. Hardware component encompasses sensors, RFID tags, intelligent systems, and others. By software & solution, it is segmented into logistics software, data & operation management software, safety & security systems, connectivity solutions, analytics solutions, remote management solutions, and asset management solutions. By services, it is divided into support & maintenance (engineering services), system integration (deployment services), and consulting services.
The global smart mining market is analyzed across four geographical regions that include North America (the U.S., Canada, and Mexico), Europe (Russia, Germany, the UK, Sweden, and rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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