Smart mining market was valued at USD 4860 million in 2017 and is expected to reach a value of USD 13005 million by 2023 at a CAGR of 18.02%, over the forecast period (2018 - 2023) |Key Players – Cisco Systems, Inc, Sap Se, Rockwell Automation, Atlas Co

North America Holds the Largest Market Share Amongst Others

The discovery of shale formations, coupled with the global dependency on the oil & gas resources have created an unprecedented pace in the development of mining activities, especially in the oil & gas sector. Strong demand for base and precious metals has driven the exploration, expansion, and growth of the metals and mining industry in North America. Latest technological breakthroughs have aided the advancement of new smart mining systems that can make the overall processes more efficient.

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Smart mining refers to the optimal usage of technology for achieving higher safety and productivity with minimal costs, within the mines. Smart mining solutions play a key role in underground mining. The smart marking systems are helpful in collecting data about the flow of the ore, possible areas of extraction and potential dilutions in the mine. This kind of data is useful for mining organizations to draw possible strategies to maximize the ore recovery. Mining automation is a critical factor in mining innovation, where the Internet of Things plays important role.

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Market Segments:
Smart mining market is segmented by:
1. Solutions: Smart Control Systems, Smart Asset Management, Safety And Security Systems, Data Management And Analytics Software, Monitoring Systems, Others
2. Services: System Integrating, Consulting, Engineering And Maintenance
3. Type: Underground Mining, Surface Mining
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments
• April 2017 - Cisco announced a planned series of initiatives in Kazakhstan to help accelerate the country’s digital transformation, over the next three years. Cisco is working to help improve the safety of the mining industry in Kazakhstan by developing a Collision Avoidance System.
• March 2017 - Gekko Systems and Rockwell Automation signed a Memorandum of Understanding (MoU) to develop software solutions that will assist mining customers across the globe to account for metal content in the various stages of ore processing plants and provide the analytical capability to audit and improve operating performance.

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