Global Smart Mining Market to Reach USD 51.7 Billion by 2033, Propelled by Rapid Utilization of Autonomous Equipment in Mining

November 15, 2024 | Technology & Media

According to the latest report by IMARC Group, titled “Smart Mining Market Report by Type (Underground Mining, Surface Mining), Component (Hardware, Software, Services), Automated Equipment (Excavator, Robotic Truck, Driller and Breaker, Load Haul Dump, and Others), and Region 2025-2033”, the global smart mining market size reached USD 14.9 Billion in 2024. Smart mining uses various technologies to automate the mining process, facilitating enhanced safety, reducing operational costs, and improving productivity for mines. The equipment can be tracked remotely and in real-time by leveraging advanced technologies, such as cloud computing, 3D imaging software, and automated hardware and equipment on the mine site. Additionally, it involves remote-controlled robotic equipment for mineral and metal extraction, also known as telerobotic mining, which reduces the risks to miners. As a result, smart mining is increasingly utilized in both underground open cast mining operations.

Global Smart Mining Market Trends:

The global market is primarily driven by the rapid utilization of autonomous equipment in mining operations. This can be attributed to the rising consciousness regarding numerous chemical hazards, ground instability, and UV exposure that causes health problems among mine workers. In addition to this, the augmenting adoption of the internet of things (IoT) to develop digital solutions for deploying underground wireless networks and connected mines is propelling the market. Moreover, the implementation of stringent regulations by several government bodies to control emissions and air pollution is also creating a positive market outlook. The market is further fueled by continual product innovations, such as autonomous fleet, remote-controlled equipment, and ventilation solutions, that offer safer working conditions. Some of the other factors providing an impetus to the market include the rising focus on worker safety, the emergence of mining 4.0, rapid industrialization and extensive research and development (R&D) activities conducted by key players. On account of the aforementioned factors, the market is anticipated to reach a value of USD 51.7 Billion by 2033, exhibiting a CAGR of 16.78% during 2025-2033.

Market Summary:

Based on the type, the market has been segmented into underground mining and surface mining.
On the basis of the component, the market has been divided into hardware, software and services.
Based on the automated equipment, the market has been categorized into excavator, robotic truck, driller and breaker, load haul dump and others.
On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include 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.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Type, Component, Automated Equipment, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Smart Mining Market to Reach USD 51.7 Billion by 2033, Propelled by Rapid Utilization of Autonomous Equipment in Mining

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