Global Smart Mining Market Size study, by Type (Underground Mining and Surface Mining), Category (Automated Equipment, Component and Consulting Services) and Regional Forecasts 2020-2027

  • Publish Date: Mar,2022
  • Report ID: QI037
  • Page : 250
  • Report Type : PDF (Email)
Global Smart Mining Market is valued approximately USD 23.46 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 16.30 % over the forecast period 2020-2027. Smart Mining is a type of process to obtain enhanced safety, reduce operational costs, and gain better productivity for a mine site by using information, autonomy, and technology. It additionally involves remote-controlled robotic tools & equipment for mineral & metal extraction, which is mentioned as telerobotic mining, and decreases the hazard for humans. It has application in both underground mining and surface mining, also known as open pit or open cast mining, operations. The major drivers like adoption of autonomous equipment, focus on safety & health, growing environmental concerns, encourages the companies to ensure better quality processes and efficient production. Further, increasing investments in mining, discovery of new exploration sites & minerals, artificial intelligence empowers effectual connectivity among miners, optimum product output, and technological upgradation has led the adoption of Smart Mining across the forecast period. For Instance: in July 2019, the ABB Company launched ABB Ability Operations Management System for real-time integration in underground and open-pit mines for maximizing productivity. However, lack of highly skilled labor and poor infrastructure impedes the growth of the market over the forecast period of 2020-2027. Also, with the enforcement of favorable stringent regulations by several governments to control emission & air pollution, the adoption & demand for Smart Mining is likely to increase.

The regional analysis of global Smart Mining market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to developed infrastructure, availability of large mineral sites and government regulations. Whereas, Latin America and Rest of the World is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as presence of software companies, adoption of artificial intelligence and presence of skilled labor would create lucrative growth prospects for the Smart Mining market across Asia-Pacific region.

Major market player included in this report are:
ABB Ltd.
Caterpillar Inc.
Cisco Systems, Inc.
Hexagon AB
Hitachi Ltd.
Komatsu Ltd.
Robert Bosch GmbH
Rockwell Automation Inc.
Sandvik AG
Trimble Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Underground Mining
Surface Mining
By Category:
Automated Equipment
Consulting Services
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year 2017, 2018
Base year 2019
Forecast period 2020 to 2027

Target Audience of the Global Smart Mining Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers