Press release
Smart Mining Industry Is Expand at a CAGR of 9.4% to Reach US$ 29.5 billion by 2031 | ABB Ltd, Caterpillar Inc., Cisco Systems, Inc., Hexagon AB
The global smart mining market was valued at US$ 11.7 billion in 2021 and it is anticipated to grow up to US$ 29.5 billion by 2031, at a CAGR of 9.4% during the forecast period.Smart mining is a process that uses autonomy, information, and technology to obtain reduce operational costs, improve safety, and gain better productivity for a mine site. Mining corporations emphasize enhancing productivity by providing state-of-the-art software & solutions. It also comprises remote-controlled robotic equipment for mineral & metal extraction, known as telerobotic mining, and decreases the danger for miners. Further, smart mining equipment is applied in underground and surface mining, also known as open pit or open cast mining operations. However, the integration of smart mining in underground mining has improved the working conditions on-site and increased the productivity of underground mines.
Request Sample Report : https://www.globalinsightservices.com/request-sample/GIS23230
Market Drivers and Trends
Rapid advancement in technology will continue to influence mining operations. In the mining industry, internet-of-things (IoT) is increasingly being adopted in mining equipment and vehicles. Furthermore, IoT in scheduling and predicting maintenance and repair tasks is expected to play a key role in its widespread adoption across the mining industry. Moreover, to reduce downtime and increase operational efficiency, miners also use advanced predictive maintenance tools. Secondly, simulation technology is gaining popularity among miners due to its proven benefits in responding to emergencies. The simulation technology is poised to witness widespread adoption in the long run. Thus, robust adoption of IoT and gaining popularity of simulation technology anticipated to aid the growth of smart mining market in the forecast period.
Market Restraints and Challenges
The capital-intensive nature of smart mining equipment is predicted to cause a slight impediment to market growth. Moreover, a lack of awareness about technologies in developing economies is anticipated to hamper the market growth. Thus, besides providing automated equipment and hardware components, companies should offer automated equipment training services and consulting services to facilitate the efficient use of machines & their components. The growing acceptance of smart mining equipment is expected to lower its cost in the long run. Therefore, the high equipment cost is acting as a challenge for the smart mining market growth.
Read Full Research Report : https://www.globalinsightservices.com/reports/smart-mining-market
Global Smart Mining Market Segmentation
By Type
• Underground Mining
• Surface Mining
By Category
• Automated Equipment
• Excavator
• Robotic Truck
• Driller & Breaker
• Load Haul Dump
Major Players in the Global Smart Mining Market
The key players studied in the global smart mining market are ABB Ltd (Switzerland), Caterpillar Inc. (US), Cisco Systems, Inc. (US), Hexagon AB (Sweden), Hitachi, Ltd. (Japan), Komatsu (Japan), Robert Bosch GmbH (Germany), Rockwell Automation, Inc. (US), Sandvik AB (Sweden), and Trimble, Inc. (US).
Buy Now : https://www.globalinsightservices.com/checkout/single_user/GIS23230
Reasons to buy Smart Mining Market Report:
• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
New Report Published by Global Insight Services : https://www.globalinsightservices.com/reports/hydrogen-projects-database/
Contact Us:
Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Mining Industry Is Expand at a CAGR of 9.4% to Reach US$ 29.5 billion by 2031 | ABB Ltd, Caterpillar Inc., Cisco Systems, Inc., Hexagon AB here
News-ID: 3040161 • Views: …
More Releases from Global Insight Services

Compounding Pharmacy Market to Hit $46.1 Billion by 2034, Expanding at 6.9% CAGR …
Market Overview
Compounding Pharmacy Market is becoming an essential part of the global healthcare system, offering customized medications tailored to meet specific patient needs. Unlike mass-produced drugs, compounded medicines are created by pharmacists who adjust dosages, combine active ingredients, or design unique delivery methods. This approach addresses important gaps in healthcare, such as accommodating allergies to certain excipients, offering alternative drug forms for pediatric or geriatric patients, and providing treatments for…

Digital PCR Market Size to Reach $37.1 Billion by 2034, Rising at 11.6% CAGR | K …
Market Overview
Digital PCR Market is emerging as a transformative force in molecular diagnostics, offering unparalleled precision in quantifying nucleic acids. Unlike traditional PCR methods, digital PCR provides higher sensitivity and accuracy, making it vital in fields such as oncology, infectious disease research, and forensic science. With its ability to detect rare mutations and monitor disease progression, digital PCR is paving the way for innovations in personalized medicine. The market includes…

Carbon Footprint Management Market Expected to Grow from $13.8 Billion in 2024 t …
The Carbon Footprint Management Market is witnessing remarkable growth, reflecting the global shift toward sustainability and environmental responsibility. This market focuses on solutions, services, and technologies designed to measure, monitor, and reduce carbon emissions across multiple industries. It includes carbon accounting software, lifecycle assessment tools, consulting services, and advanced technologies like carbon capture and storage. Organizations increasingly rely on these solutions to meet regulatory compliance, achieve sustainability targets, and enhance…

Breastfeeding Nutrition Market Expected to Grow from $50.9 Billion in 2024 to $1 …
The Breastfeeding Nutrition Market is witnessing remarkable growth, fueled by rising awareness of maternal and infant health worldwide. This market encompasses a diverse range of products, including infant formula, lactation supplements, breastfeeding accessories, and fortified foods, designed to enhance breast milk quality and maternal nutrition. With increasing emphasis on scientifically backed nutrition and natural ingredients, the market plays a crucial role in supporting the well-being of both mothers and infants.…
More Releases for Mining
Gold Mining Market is Booming Worldwide | Newmont Mining, Coeur Mining, Freeport …
The " Gold Mining - Market Development Outlook " Study has been added to AMA Research repository. The study envisage detailed qualitative as well as quantitative market data insights and follows Industry benchmark classification and NAICS standards to built strong players coverage in the study. Some of the major and emerging players identified are Newmont Mining United States), Coeur Mining (United States), Freeport-McMoRan (United States), North Bloomfield Mining and Gravel…
Mining Equipment Market by Type (Mineral Processing Equipment; Surface Mining Eq …
Asia-Pacific serves as the most productive region as compared to others with diverse industry verticals significantly investing in mining equipment. Moreover, various domestic players are investing in the mining sector, which is anticipated to boost the demand for mining equipment such as crusher, trucks, loaders, diggers, and others as to complete operations with reduced labor cost and high precision of work within optimized time. Furthermore, the surface mining equipment market…
Mining Equipment Market by Type (Mineral Processing Equipment; Surface Mining Eq …
Asia-Pacific serves as the most productive region as compared to others with diverse industry verticals significantly investing in mining equipment. Moreover, various domestic players are investing in the mining sector, which is anticipated to boost the demand for mining equipment such as crusher, trucks, loaders, diggers, and others as to complete operations with reduced labor cost and high precision of work within optimized time. Furthermore, the surface mining equipment market…
Coal Mining Market by Mining Technology, Underground Mining and Application with …
Coal has been a fundamental source of energy since many years. Presently, coal is majorly used to power generation, steel production, and as a fluid fuel. China accounts for majority of the total coal production across the globe.
The report segments the coal mining market on the basis of mining technology, application, and geography. On the basis of mining technology, the market is bifurcated into surface mining and underground mining.
Surface…
Base Metals Mining Market in China to 2021| Zijin Mining Group Company, China Da …
Albany, NY, 1st November : Recent research and the current scenario as well as future market potential of "Base Metals Mining in China to 2021-Robust Consumption and Imports Expected in the Upcoming Years" globally.
Summary
GlobalDatas "Base Metals Mining in China to 2021", report covers comprehensive information on Chinas base metal (copper, nickel, zinc, and lead) mining industry, base metal (copper, nickel, zinc, and lead) reserves and grade, the historical and forecast…
Coal Mining Market by Mining Technology {Surface Mining (Strip Mining, Auger Min …
Coal has been a fundamental source of energy since many years. Presently, coal is majorly used to power generation, steel production, and as a fluid fuel. China accounts for majority of the total coal production across the globe.
Access Full Summary: https://www.alliedmarketresearch.com/coal-mining-market
The growth of the Asia-Pacific coal mining market is driven by increase in usage of coal in steel manufacturing and electricity generation. However, stringent government regulations towards environmental pollution due…