Smart Mining Market Size, Share, Growth, Trends, Revenue And Forecast 2028

Smart mining is the application of technology, information, and autonomy to increase production, enhance safety, and reduce operating costs in the mining industry.

                                            Smart Mining Market



Smart mining is the application of technology, information, and autonomy to increase production, enhance safety, and reduce operating costs in the mining industry. Mining businesses are concentrating on increasing efficiency by providing novel software and solutions, which is driving up demand for smart mining. As improved technology becomes more widely used, it is expected to reduce high labour expenses, resulting in significant cost savings. The need for smart mining is increasing as a result of these causes. Smart miners that have previously used technology can automate their operations more quickly than those that have not. Mining companies can enhance their present wireless network of embedded sensors by implementing modern technology.


During the projected period, rising environmental concerns are likely to propel the worldwide smart mining market forward. The mining industry is continuously introducing environmentally friendly mining technology to maximise mineral and ore recovery while reducing waste. These technologies enable operators to monitor and regulate pollution by assessing air and water quality, therefore assisting mining businesses in adhering to regulatory standards. For example, at the Kennecott Utah Copper mine in the United States, Copper NuWave implemented ore processing technology that increases mineral recovery while reducing waste, energy, and water use.


Market Segmentation

By Type
  • Underground Mining
  • Surface Mining (Open Pit or Open Cast Mining)


By Service
  • Consulting
  • System Integration
  • Support and Maintenance


By Component
  • Hardware
  • Software
  • Service

A skilled labour shortage exists in the mining industry. Mining corporations have found it difficult to acquire new staff with the technical abilities needed to work on new energy sources due to a scarcity of expertise. Furthermore, in the aftermath of the COVID-19 outbreak and the closure of industries, mining businesses are anticipated to enhance their production efficiency, which will increase demand for smart mining solutions.


The major key players operating in the global smart mining market are 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.

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