Smart Mining Market 2027: Overview, Analysis, Growth, Key Players and Demand

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.

Historical: 2016-2021

Base Year: 2021

Forecast Year: 2022-2027

Download free sample of the report: https://www.imarcgroup.com/smart-mining-market/requestsample

Smart Mining Market Industry Definition and Application:

Smart mining represents the automation of the mining process utilizing advanced solutions, including cloud, 3D imaging, modeling software, automated equipment, hardware, etc. It assists in providing real-time visibility of equipment conditions, minimizing downtime, eliminating maintenance costs, reducing operational pressure, etc. As a result, smart mining also ensures data security and long-term maintenance of critical assets, due to which it is gaining traction across the globe.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Smart Mining Market Trends and Drivers:

As conventional mining practices involve continuous exposure of the workers to ultra-violet (UV) rays, dust, noise, chemicals, etc., which causes severe health problems, there is a rise in demand for smart mining. Moreover, it is integrated with the autonomous fleet, remote-controlled equipment, and ventilation solutions to offer safe working conditions and enhance operational productivity. This, in turn, is acting as another growth-inducing factor. In addition to this, the implementation of novel technologies to ensure better quality production and the increasing adoption of price-cutting schemes in the mining industry are further catalyzing the product demand. Additionally, the growing environmental concerns, continuous technological advancements, and the implementation of stringent regulations by government bodies to control greenhouse gas emissions and air pollution are anticipated to drive the smart mining market in the coming years.

Browse full report with TOC: https://www.imarcgroup.com/smart-mining-market

Smart Mining Market Segmentation:

The report has segmented the market on the basis on region, type, component, automated equipment.

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

Who are the Major Smart Mining Market Key players?

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.

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This release was published on openPR.