Smart mining is a new type of mining that mine in a variety of ways to minimize its impact on the environment such as longwall mining, mountaintop removal mining, dredging, highwall mining, block caving. There are three main areas of the mining industry which are Open-pit, underwater, and underground mining. Miners can mine from multiple locations by using virtualization technologies with same operational costs. In order to maintain overall security, software solutions are utilized. The algorithms are used by mining companies to find areas with lower security levels and lower operating costs. Smaller businesses can mine more effectively and affordably by these mining operations.
Rising concern about worker safety & health is expected to drive the global smart mining market growth over the forecast period. Governments of many countries have implemented stringent norms with major focus on workers’ safety and health. This has compelled mining companies to provide adequate safety equipment and emergency services for workers. Smart mining maintains safety and health of mine workers by using connected devices and data analytics leveraging IoT devices. Furthermore, fluctuation in commodity prices is expected to drive the global smart mining market growth.For instance in November 2021, According to a report by Magic Software, it’s estimated that 70% of machine malfunctions can be prevented by collecting and analyzing machine data, giving operators a chance to get ahead of safety problems before they happen
Key features of the study:
- This report provides in-depth analysis of the global smart mining market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2023–2030), considering 2022 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global smart mining market based on the following parameters company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include ABB Ltd., Komatsu Ltd., Sandvik Mining and Construction, Atlas Copco, Alcatel-Lucent, Caterpillar Inc., Cisco Systems Inc., Hitachi Construction Machinery Co. Ltd., Outotec Oyj, and Joy Global Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global smart mining market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global smart mining market
- Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
- Global smart mining market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global smart mining market.
- Global Smart Mining Market, By Hardware
- Automated Equipment
- Driller & Breaker
- Load Haul Dump (LHD)
- Mining Excavator
- Robotic Truck
- Other Equipment
- Global Smart Mining Market, By Solution
- Data & Operation Management Software
- Analytics Solution
- Connectivity Solution
- Other Solution
- Global Smart Mining Market, By Service
- Engineering & Maintenance Service
- Consulting Service
- Production Training Service
- Implementation & Integration Service
- Global Smart Mining Market, By Region
- North America
- Western Europe
- Eastern Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles
- ABB Ltd.*
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments
- Future Plans
- Komatsu Ltd.
- Sandvik Mining and Construction
- Atlas Copco
- Caterpillar Inc.
- Cisco Systems Inc.
- Hitachi Construction Machinery Co. Ltd.
- Outotec Oyj
- Joy Global Inc.
“*” marked represents similar dataset for other companies as well.
*Browse all the market data tables and figures on “Global Smart Mining Market - Forecast to 2030”