Product Code: SR0522A308_Report
The global smart mining market reached a value of US$ 9.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 24.3 Billion by 2027, exhibiting a CAGR of 17.77% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Smart mining refers to the automation of the mining process using advanced solutions, such as cloud, 3D imaging and modeling software, and automated equipment and hardware. It assists in providing remote and real-time visibility of equipment conditions, reducing downtime, eliminating maintenance costs, minimizing operational pressure, and optimizing workplace safety. As it also ensures data security and long-term maintenance of critical assets, it is gaining traction across the globe.
Smart Mining Market Trends:
- Conventional mining practices involve continuous exposure of the workers to ultra-violet (UV) rays, dust, noise, chemical, and ground instability, which can cause severe health problems. This represents one of the significant factors fueling the growth of the market. Smart mining systems are safe, flexible, adaptable, and reliable and they enable plant managers and operators to make better and informed decisions. As a result, they are increasingly being used by leading mining players around the world. Moreover, they are integrated with the autonomous fleet, remote-controlled equipment, and ventilation solutions to offer safe working conditions and improve operational productivity. The market is also driven by the adoption of price-cutting schemes in the mining industry and the implementation of novel technologies to ensure better quality processes and production. Furthermore, numerous mining firms worldwide are focusing on deploying wireless networks underground. These solutions aid in keeping track of employees, equipment, improving maintenance and boosting efficiency, which is creating a favorable market outlook. Other significant factors, including rising environmental concerns, numerous technological advancements, and the implementation of stringent regulations by governing agencies of different countries to control greenhouse gas (GHG) emissions and air pollution, are anticipated to propel the growth of the market.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global smart mining market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, component and automated equipment.
Breakup by Type:
- Underground Mining
- Surface Mining
Breakup by Component:
- Hardware
- Sensors
- RFID Tags
- Intelligent Systems
- Others
- Software
- Data and Operation Management Software
- Safety and Security Systems
- Connectivity Solutions
- Analytics Solutions
- Remote Management and Logistics Solutions
- Asset Management Solutions
- Services
- Support and Maintenance
- System Integration
- Consulting Services
Breakup by Automated Equipment:
- Excavator
- Robotic Truck
- Driller and Breaker
- Load Haul Dump
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
- The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd, Caterpillar Inc, Cisco Systems Inc, Hexagon AB, Hitachi Ltd, Komatsu Ltd, Robert Bosch GmbH, Rockwell Automation Inc, Sandvik AB, SAP SE and Trimble Inc.
Key Questions Answered in This Report:
- How has the global smart mining market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global smart mining market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the automated equipment?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global smart mining market and who are the key players?
- What is the degree of competition in the industry?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Smart Mining Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Underground Mining
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Surface Mining
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Component
- 7.1 Hardware
- 7.1.1 Market Trends
- 7.1.2 Key Segments
- 7.1.2.1 Sensors
- 7.1.2.2 RFID Tags
- 7.1.2.3 Intelligent Systems
- 7.1.2.4 Others
- 7.1.3 Market Forecast
- 7.2 Software
- 7.2.1 Market Trends
- 7.2.2 Key Segments
- 7.2.2.1 Data and Operation Management Software
- 7.2.2.2 Safety and Security Systems
- 7.2.2.3 Connectivity Solutions
- 7.2.2.4 Analytics Solutions
- 7.2.2.5 Remote Management and Logistics Solutions
- 7.2.2.6 Asset Management Solutions
- 7.2.3 Market Forecast
- 7.3 Services
- 7.3.1 Market Trends
- 7.3.2 Key Segments
- 7.3.2.1 Support and Maintenance
- 7.3.2.2 System Integration
- 7.3.2.3 Consulting Services
- 7.3.3 Market Forecast
8 Market Breakup by Automated Equipment
- 8.1 Excavator
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Robotic Truck
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Driller and Breaker
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Load Haul Dump
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Others
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 ABB Ltd
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Caterpillar Inc
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.2.4 SWOT Analysis
- 14.3.3 Cisco Systems Inc
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 Hexagon AB
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Hitachi Ltd
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.6 Komatsu Ltd
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Robert Bosch GmbH
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 SWOT Analysis
- 14.3.8 Rockwell Automation Inc
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 Sandvik AB
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 SAP SE
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 Trimble Inc.
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.11.3 Financials
- 14.3.11.4 SWOT Analysis
List of Figures
- Figure 1: Global: Smart Mining Market: Major Drivers and Challenges
- Figure 2: Global: Smart Mining Market: Sales Value (in Billion US$), 2016-2021
- Figure 3: Global: Smart Mining Market Forecast: Sales Value (in Billion US$), 2022-2027
- Figure 4: Global: Smart Mining Market: Breakup by Type (in %), 2021
- Figure 5: Global: Smart Mining Market: Breakup by Component (in %), 2021
- Figure 6: Global: Smart Mining Market: Breakup by Automated Equipment (in %), 2021
- Figure 7: Global: Smart Mining Market: Breakup by Region (in %), 2021
- Figure 8: Global: Smart Mining (Underground Mining) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 9: Global: Smart Mining (Underground Mining) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 10: Global: Smart Mining (Surface Mining) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 11: Global: Smart Mining (Surface Mining) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 12: Global: Smart Mining (Hardware) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 13: Global: Smart Mining (Hardware) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 14: Global: Smart Mining (Software) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 15: Global: Smart Mining (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 16: Global: Smart Mining (Services) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 17: Global: Smart Mining (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 18: Global: Smart Mining (Excavator) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 19: Global: Smart Mining (Excavator) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 20: Global: Smart Mining (Robotic Truck) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 21: Global: Smart Mining (Robotic Truck) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 22: Global: Smart Mining (Driller and Breaker) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 23: Global: Smart Mining (Driller and Breaker) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 24: Global: Smart Mining (Load Haul Dump) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 25: Global: Smart Mining (Load Haul Dump) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 26: Global: Smart Mining (Other Automated Equipments) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 27: Global: Smart Mining (Other Automated Equipments) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 28: North America: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 29: North America: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 30: United States: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 31: United States: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 32: Canada: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 33: Canada: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 34: Asia-Pacific: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 35: Asia-Pacific: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 36: China: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 37: China: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 38: Japan: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 39: Japan: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 40: India: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 41: India: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 42: South Korea: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 43: South Korea: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 44: Australia: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 45: Australia: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 46: Indonesia: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 47: Indonesia: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 48: Others: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 49: Others: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 50: Europe: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 51: Europe: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 52: Germany: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 53: Germany: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 54: France: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 55: France: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 56: United Kingdom: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 57: United Kingdom: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 58: Italy: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 59: Italy: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 60: Spain: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 61: Spain: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 62: Russia: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 63: Russia: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 64: Others: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 65: Others: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 66: Latin America: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 67: Latin America: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 68: Brazil: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 69: Brazil: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 70: Mexico: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 71: Mexico: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 72: Others: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 73: Others: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 74: Middle East and Africa: Smart Mining Market: Sales Value (in Million US$), 2016 & 2021
- Figure 75: Middle East and Africa: Smart Mining Market: Breakup by Country (in %), 2021
- Figure 76: Middle East and Africa: Smart Mining Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 77: Global: Smart Mining Industry: SWOT Analysis
- Figure 78: Global: Smart Mining Industry: Value Chain Analysis
- Figure 79: Global: Smart Mining Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Smart Mining Market: Key Industry Highlights, 2021 and 2027
- Table 2: Global: Smart Mining Market Forecast: Breakup by Type (in Million US$), 2022-2027
- Table 3: Global: Smart Mining Market Forecast: Breakup by Component (in Million US$), 2022-2027
- Table 4: Global: Smart Mining Market Forecast: Breakup by Automated Equipment (in Million US$), 2022-2027
- Table 5: Global: Smart Mining Market Forecast: Breakup by Region (in Million US$), 2022-2027
- Table 6: Global: Smart Mining Market: Competitive Structure
- Table 7: Global: Smart Mining Market: Key Players