According to the latest report by IMARC Group, titled “Smart Mining Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” 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.
Smart mining uses various technologies to automate the mining process, facilitating enhanced safety, reducing operational costs, and improving productivity for mines. The equipment can be tracked remotely and in real-time by leveraging advanced technologies, such as cloud computing, 3D imaging software, and automated hardware and equipment on the mine site. Additionally, it involves remote-controlled robotic equipment for mineral and metal extraction, also known as telerobotic mining, which reduces the risks to miners. As a result, smart mining is increasingly utilized in both underground open cast mining operations.
Request Free Sample Report: https://www.imarcgroup.com/smart-mining-market/requestsample
Market Trends:
The global market is primarily driven by the rapid utilization of autonomous equipment in mining operations. This can be attributed to the rising consciousness regarding numerous chemical hazards, ground instability, and UV exposure that causes health problems among mine workers. In addition to this, the augmenting adoption of the internet of things (IoT) to develop digital solutions for deploying underground wireless networks and connected mines is propelling the market. Moreover, the implementation of stringent regulations by several government bodies to control emissions and air pollution is also creating a positive market outlook. The market is further fueled by continual product innovations, such as autonomous fleet, remote-controlled equipment, and ventilation solutions, that offer safer working conditions. Some of the other factors providing an impetus to the market include the rising focus on worker safety, the emergence of mining 4.0, rapid industrialization and extensive research and development (R&D) activities conducted by key players. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 24.3 Billion by 2027, exhibiting a CAGR of 17.77% during 2022-2027.
Breakup by Type:
- Underground Mining
- Surface Mining
Breakup by Component:
- Hardware
- Sensors
- RFID Tags
- Intelligent System
- 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 with Key Player:
- ABB Ltd
- Caterpillar Inc
- Cisco Systems Inc
- Hexagon AB
- Hitachi Ltd
- Komatsu Ltd
- Robert Bosch GmbH
- Rockwell Automation Inc
- Sandvik AB, SAP SE
- Trimble Inc
Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=4602&flag=C
Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact Us:
IMARC Group
Email: sales@imarcgroup.com
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Address: 134 N 4th St. Brooklyn, NY 11249, USA
Website: https://www.imarcgroup.com/
Follow us on Twitter: @imarcglobal
Linkedin: https://www.linkedin.com/company/imarc-group