Smart Mining Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The analyst is set to release a study that provides growth forecasts for the Global Smart Mining Industry from 2021 to 2025. The resource-critical mining sector has long grappled with a severe shortage of skilled labor, which has been a major hindrance to its productivity and efficiency. The COVID-19 pandemic further exacerbated the industry's challenges, underscoring the urgent need to enhance overall productivity and efficiency. As a result, the smart mining industry is expected to receive a robust impetus in the future.

Underground Wireless Technology Drives Smart Mining Adoption

Deepening technology integration into mining operations is expected to accelerate the adoption of smart mining solutions by mining companies. Collaboration between mining operations and tech innovators will expedite the spread of smart mining in the industry. The market will be bolstered by the increasing deployment of underground wireless networks for remote tracking and monitoring of employees and mining equipment. As safety, efficiency, and maintenance become top priorities for mining companies, smart mining is set to gain stronger ground.
The introduction of wireless network technology into underground mines marked a breakthrough development, catalyzing the industry's move towards smart mining. Since then, Wi-Fi and radiofrequency identification (RFID) technology have been extensively used for remote tracking, location monitoring, surveillance, and safety of personnel and equipment in mines. Conventional mining processes, technologies, and tools are rapidly being replaced by their smart counterparts through the integration of smart systems and the Internet of Things (IoT).

Rising Investments to Drive Smart Mining Market

The growing demand for real-time information delivery to mine operators on their mobile devices will drive the growth of the smart mining market. The application of advanced data analytics to extract insights and recommendations from raw data for visualization will further support market growth. Mining companies are increasingly adopting next-gen technologies, such as drones, adaptive supply chain, and sensing technologies, offering them a competitive advantage and driving market expansion. The acceptance of various digital technologies enabling automation, including 3D printing, robotics, autonomous driving, self-driving, IoT, AI, augmented reality (AR), virtual reality (VR), Big Data Analytics, and cloud computing, will remain sought-after across potential smart mines.

Growing Acceptance for Environmental Impact Mitigation

Mining companies are recognizing the pivotal role of smart mining technologies in providing real-time understanding of mining sites, operations, and resources. This acceptance is a key factor supporting the expansion of the global smart mining market. Additionally, as companies increasingly commit to reducing the environmental impact of mining, smart mining is expected to have a broader positive impact across the industry. The growing significance of Environmental, Social, and Corporate Governance (ESG), Corporate Social Responsibility (CSR), and Environmental and License to Operate (LTO) will play a crucial role in the market's growth.

Key Players in the Global Smart Mining Market

The report includes detailed profiling of some prominent players in the smart mining landscape. Alongside industry giants like SAP SE, Cisco Systems Inc., Komatsu Mining Corporation, and Rockwell Automation Inc., the study covers Robert Bosch GmbH, Ericsson, Schlumberger, Anglo American, ABB, Siemens, Wipro, Huawei, Nokia, Sandvik, Solvay, Axora, Bell, Codelco, IntelliSense, Exfo, Howden Group, GeoSonics, Hexagon, Kandy, Juniper Networks, MISOM, Ribbon Communications, Mitel, SMS Equipment, and SGS.