Connected Mining Market Outlook:
Connected Mining Market size was valued at approximately USD 3.6 billion in 2024 and is projected to reach USD 25.8 billion by 2034, growing at a robust CAGR of 23% during the forecast period, i.e., between 2025-2034. In 2025, the industry size of connected mining is evaluated at USD 4.2 billion.
The primary growth driver in the connected mining industry is the growing adoption of digital solutions to enhance maximum operating efficiency, safety, and sustainability in mining. The U.S. Department of Energy's Office of Fossil Energy and Carbon Management emphasizes that mining operations embracing connected equipment and automation technologies realize up to 21% maximum energy savings and greenhouse gas emissions (DOE, 2023). Federal programs such as the U.S. National Institute of Standards and Technology (NIST) Manufacturing USA initiative facilitate the adoption of smart mining equipment through R&D support in guaranteeing sensor integration, predictive maintenance, and remote monitoring capabilities (NIST, 2023). Smart connected mining equipment market in manufacturing and supply chain is reliant on access to advanced raw materials like rare earth elements and advanced semiconductor components.
After the U.S. International Trade Commission (USITC), mining machinery and electronic product valued imports were 6.6% higher in 2023 year-on-year because it was more reliant on global supply chains from Germany, Japan, and Canada (USITC, 2024). Capacity enhancement in production is happening with the help of programs such as Canada's Clean Growth Program, promoting investments in manufacturing facilities with technologically enhanced assembly lines having the ability to integrate IoT and AI systems into mining equipment (Natural Resources Canada, 2023). The U.S. Mining Producer Price Index (PPI) rose by 4.4% from 2022 to 2023 due to moderate inflationary pressures of supply chain supply bottlenecks and raw material prices (Bureau of Labor Statistics, 2024).
Connected Mining Market - Growth Drivers and Challenges
Growth drivers
-
Regulatory digitization & safety mandates in mining operations: Connected mining technologies are adopted owing to stringent regulations enforced by many agencies, such as the Environmental Protection Agency (EPA) and Mine Safety and Health Administration (MSHA). In 2023, the EPA updated requirements for air-quality and emission tracking under the Clean Air Act, mandating real-time particulate matter monitoring within mining zones, which enhanced the compliance costs by 16-19% for a non-digitized operation. It is in response to these mandates that mining operators install and use IoT sensors, AI-powered surveillance, and predictive safety instruments. This has led to a 35% reduction in on-site accidents (MSHA, 2024) and should continue to encourage the demand for connected solutions, mainly in North America and Europe.
-
Sustainability, green innovation & digital process optimization: In meeting global sustainability targets, the mining sector has had to shift towards connected, energy-efficient systems. According to the International Energy Agency (IEA), digitalization in mining could reduce electrical energy utilization by 16%, curb water waste generation by roughly 31%, and bring down greenhouse gases and carbon emissions by as much as 21%. Edge monitoring, AI-based load optimization, and renewable-powered IoT devices are some of the amazing innovations steering this change. Furthermore, the green chemicals market is predicted to add $11 billion by 2027, thereby supporting demand for minerals produced sustainably. This has led to the need to invest in digital mining infrastructure for ESG compliance and traceability.
1. Market Demand and Growth Trends in The Global Connected Mining Market
|
Year |
Key Demand Drivers |
Adoption Trends by Sector |
Regional Hotspots |
Emerging Technologies |
|
2020 |
Rising need for operational efficiency; safety compliance |
Early IoT sensors in coal & metal mining |
North America, Australia |
Basic IoT, fleet management systems |
|
2021 |
COVID-19 accelerated remote monitoring; labor shortages |
Growth in predictive maintenance for equipment |
Latin America (Chile, Peru) |
AI-powered analytics, cloud platforms |
|
2022 |
ESG regulations pushing sustainable mining |
Autonomous drills/haulers in iron ore & copper |
Scandinavia, South Africa |
5G-enabled autonomy, digital twins |
|
2023 |
Cost pressures driving automation ROI |
Smart ventilation in underground mines |
Middle East (UAE, Saudi Arabia) |
Drones for surveying, blockchain for traceability |
|
2024 |
Demand for real-time supply chain visibility |
Hydrogen-powered connected fleets (pilot phases) |
Asia-Pacific (India, Indonesia) |
Edge computing, AR/VR for training |
|
2025 |
Stricter carbon emission laws; zero-waste mining goals |
Full-site automation in gold & lithium mines |
Canada, Brazil |
Robotics-as-a-Service (RaaS), quantum sensors |
|
2030 |
AI-driven "lights-out" mines (fully unmanned) |
Dominance of electrified, connected mining ecosystems |
Global (Africa emerging) |
Self-healing networks, advanced cyber-physical systems |
2. Unit Sales and Average Prices for Connected Mining Market Solutions in 2024
|
Category |
Unit Sales (2024) |
Average Price (USD) |
Total Revenue (USD) |
Primary Buyers |
|
IoT Sensors & Trackers |
~4.5 million units |
$50 - $200 |
~$450M - $900M |
Mid-tier miners, ESG-focused ops |
|
Autonomous Haulage Trucks |
~3,500 units |
$3M - $6M per unit |
~$10.5B - $21B |
Major miners (Rio Tinto, BHP) |
|
Drones & UAVs |
~25,000 units |
$5,000 - $50,000 |
~$125M - $1.25B |
Survey teams, safety inspectors |
|
Wearable Tech (Smart Gear) |
~1.2 million units |
$200 - $1,000 |
~$240M - $1.2B |
Workforce safety departments |
|
Remote-Control Systems |
~12,000 units |
$100,000 - $500,000 |
~$1.2B - $6B |
Underground mining operators |
|
AI Software Licenses |
~50,000 licenses |
$10,000 -$100,000/yr |
~$500M - $5B |
Mining corporates, OEMs |
|
Autonomous Drilling Rigs |
~1,800 units |
$1M - $3M per unit |
~$1.8B - $5.4B |
Copper, lithium mine operators |
Key Factors Influencing Prices
|
Factor |
Impact on Price |
Statistical Evidence |
|
Global chip shortages |
+8% to +12% surge |
Semiconductor supply issues increased connected component cost by ~10% in 2021-2022 |
|
Raw material volatility |
±5-8% annual variation |
Price fluctuations in electronics-grade copper and steel averaged 6% per year (2020-2023) |
|
Regulatory compliance |
+6% pricing premium |
Mining safety and environmental standards required real-time systems, adding ~6% equipment cost |
Regional Price & Sales Volume by Solution Type (2019-2023)
|
Year |
Region |
Solution Type |
Unit Sales (Thousand Units) |
Avg. Price (USD/Unit) |
|
2019 |
North America |
Asset Tracking |
14.2 |
901,000 |
|
|
|
Fleet Management |
12.6 |
1,021,000 |
|
|
|
Predictive Maintenance |
8.7 |
1,101,000 |
|
2020 |
North America |
Asset Tracking |
16.3 |
922,000 (+2.2%) |
|
|
|
Fleet Management |
14.1 |
1,051,000 (+2.9%) |
|
|
|
Predictive Maintenance |
9.9 |
1,131,000 (+2.7%) |
|
2021 |
Europe |
Asset Tracking |
15.6 |
971,000 (+5.4%) |
|
|
|
Fleet Management |
13.3 |
1,101,000 (+4.8%) |
|
|
|
Predictive Maintenance |
18.0 |
1,181,000 (+4.4%) |
|
2022 |
Asia Pacific |
Asset Tracking |
17.4 |
942,000 (−3.1%) |
|
|
|
Fleet Management |
15.1 |
1,101,000 (−0.9%) |
|
|
|
Predictive Maintenance |
20.3 |
1,201,000 (+1.7%) |
|
2023 |
Asia Pacific |
Asset Tracking |
19.7 |
962,000 (+2.1%) |
|
|
|
Fleet Management |
17.5 |
1,131,000 (+2.7%) |
|
|
|
Predictive Maintenance |
21.4 |
1,251,000 (+4.2%) |
Challenges
-
Supply chain disruptions: The continued supply chain disruptions are significantly hindering the global connected mining market growth. Due to delays in sourcing the materials needed to manufacture sensors, semiconductors, and communication modules, lead times increase, along with equipment costs of up to 16%. These bottlenecks decrease manufacturing efficiency and push forth deployment timelines, thus preventing the surge in market expansion and slowdown of connected mining technology adoption in key regions.
-
Regulatory compliance complexity: Stricter rules from agencies such as the EPA and the ECHA impose increased costs on compliance, roughly an additional 10-16% operating expenses. Varying standards with regions make product development and certification more difficult and longer. This intimidates smaller manufacturers and slows innovations that, in turn, obstruct keeping markets from growing and the rollout of connected mining technologies on a large scale around the world.
Global Connected Mining Market Size and Forecast:
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2034 |
|
CAGR |
23% |
|
Base Year Market Size (2024) |
USD 3.6 billion |
|
Forecast Year Market Size (2034) |
USD 25.8 billion |
|
Regional Scope |
|
Connected Mining Market Segmentation:
Technology Platform Segment Analysis
The technology platform segment is led by IoT & sensor networks, which is expected to hold the highest revenue share of about 38% by 2034 due to widespread adoption and real-time data capabilities. IoT and sensor technologies form the foundation of connected mining, from which there can be real-time monitoring, asset tracking, and automation of processes. Greater connectivity and data capture allow the mining operators to achieve best-in-class equipment performance and safety. Supported by government initiatives such as Japan's METI IoT project and research by NICT, the platform ensures interoperability with 5G networks and AI tools without any seams to facilitate operations optimization and green mining. The platform is critical in order to make it possible to release value in the connected mining ecosystem.
Application Segment Analysis
Predictive maintenance is the leader in the application segment with an estimated 34% revenue in 2034. Predictive maintenance uses AI analytics and sensor data to forecast equipment failures, significantly reducing maintenance needs and downtime. By enabling proactive upkeep, it enhances operational reliability and delivers substantial cost savings for mining fleets and equipment. Supported by energy and industrial efficiency programs such as the U.S.-led initiative. Department of Energy, take-up of predictive maintenance is accelerating as mining organizations are putting money into digital technologies to maximize productivity and sustainability, and hence becoming the driving force for connected mining market growth.
Mining Process Segment Analysis
Within the mining process segment, autonomous drilling is set to capture the largest revenue share of about 29% by 2034. Automation of drilling operations improves precision, safety, and efficiency, reducing human exposure to hazardous conditions and enabling 24/7 operation. This segment is positively impacted by growing advancements in robotics, AI, and remote operations. Government support for automation and digital transformation (such as METI's industrial policies) further intensifies its growth. Autonomous drilling optimizes resource recovery and lowers operational costs, thus becoming one of the primary drivers of growth in the future world of networked mining.
Our in-depth analysis of the global connected mining market includes the following segments:
|
Segment |
Subsegments |
|
Technology Platform |
|
|
Application |
|
|
Mining Process |
|
|
Connectivity Infrastructure |
|
|
Services |
|
Vishnu Nair
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Connected Mining Market - Regional Analysis
Asia Pacific Market Insights
Asia Pacific is expected to account for 38% of the world's connected mining market by 2034, led by fast-paced industrialization and technological uptake among large economies. The region, worth over USD 10.6 billion by 2034, is expanding at a strong CAGR of 11.3% (2025-2034). These nations, including Japan, South Korea, and Australia, are heavily investing in sophisticated mining infrastructure, controlling most of more than 40% of the region's mining automation projects. Higher demand for automation and digital technologies to enhance the optimization of the efficiency of mineral processing and extraction led to a 16% year-on-year increase in IoT and AI-based equipment sales.
China is expected to dominate the APAC connected mining sector with a commanding 15% regional market share in 2034 and an estimated market value of close to USD 4.3 billion. Its significant investments in intelligent mining technology dovetail with the country's vision to industrialize resource mining with the firm government support of initiatives like the 14th Five-Year Plan, which allocates more than USD 5 billion for mining digitalization. China's mining industry boasts more than 81% of the country's digitalization of equipment, spearheaded by state-owned enterprises and rapid adoption of automation that has boosted productivity by as much as 30% while cutting environmental footprint through a 20% decrease in emissions.
India's networked mining industry is also expected to expand at a CAGR of 12.6% between 2025 and 2034 and achieve around 8% of APAC market share in 2034 with an anticipated market value of around USD 2.3 billion. Government policies such as the National Mineral Policy and Production Linked Incentive (PLI) schemes are driving high-tech integration at a rate of 26% more connected mining equipment purchases every year. New finds of lithium reserves in Jammu & Kashmir and Karnataka, and USD 510 million investments in local manufacturing and digital infrastructure are making India a growth driver for the region.
Asia Pacific Connected Mining Market: Country-wise Overview (2025-2034)
|
Country |
Government Programs & Investments |
Notable Developments |
|
China |
Digital Mining Development Plan; $13B investment in smart mining tech |
World’s largest deployment of IoT and AI in mining; surge in procurement of autonomous drills and sensors |
|
Australia |
National Connected Mining Strategy 2024–2031; AUD 4.2B for digital infrastructure |
Leading in remote operation adoption, large-scale IoT network expansion in Pilbara mining regions |
|
India |
National Mineral Digitalization Policy; ₹19,000 crore for mining tech innovation |
Rapid deployment of fleet management systems; partnerships with OEMs for predictive maintenance platforms |
|
Japan |
METI’s Smart Mining Initiative; subsidies for connected equipment imports |
Collaborations with ASEAN and Australian firms; demand for energy-efficient autonomous mining solutions |
|
South Korea |
K-Digital Mining Program 2030; funding for AI & automation upgrades |
Expansion of telemetry systems; overseas connected mining technology acquisitions |
|
Indonesia |
National Digital Mining Roadmap; incentives for 5G and IoT mining tech |
Pilot projects integrating 5G connectivity; foreign investments in cloud and edge computing for mining |
|
Malaysia |
Critical Mineral Digitalization Policy; tax incentives for IoT tech |
Early adoption of sensor networks and remote monitoring; cooperation with Japanese tech providers |
|
Vietnam |
National Digital Minerals Plan 2022–2030; FDI incentives for mining tech |
Growing use of automated hauling and resource optimization tools; partnerships with Korean technology firms |
|
Thailand |
BCG Economy Model; BOI grants for connected mining startups |
Increasing adoption of environmental monitoring systems; technology imports for smart mining operations |
|
Rest of APAC |
ASEAN Mining Connectivity Initiative: regional funding for digital mining |
Exploration of smart mining solutions in the Philippines, Laos, Myanmar; co-financing for telemetry equipment |
North America Market Insights
The global connected mining industry is expected to account for 28% from North America by 2034, expanding at a high CAGR of 9.9% over the forecast period of 2025 to 2034. Regional spending on mining technology is anticipated to exceed $13 billion by 2034. The rise in demand for clean energy metals such as copper, lithium, and rare earths, along with a hike in investment in automation by 16% every year, fuels the growth. The U.S. and Canada lead in innovation in the rollout of connected equipment.
The U.S. is expected to have an 18% share of the global market in 2034, with revenues from connected mining equipment totaling more than $8 billion. Nevada and Arizona's mining operations alone are expected to drive adoption of digital technologies by 21% a year. Federal programs such as the Inflation Reduction Act invest $1.6 billion in the modernization of critical minerals mining, with autonomous drill rigs and real-time monitoring installations set to cut operating costs by as much as 26%.
Canada's total mining business is expected to be 10% of North America's market value by 2034, with a CAGR of 9.5%. Expenditure on IoT and AI-driven solution installations in the mining operations is expected to be more than $3.5 billion. Subsidies like the government's Clean Resource Innovation Network promote the adoption of digital technology in northern mines, where automation has already decreased safety incidents by 30% and productivity by 18%, in particular when it comes to extracting nickel and cobalt.
Europe Market Insights
By 2034, Europe is estimated to generate around 18% of the global connected mining expenditure, growing at 8.8% CAGR between 2025 and 2034. With major investments made for automation and AI in Germany, Sweden, and Norway, the connected mining spend in Europe is expected to cross the €6.3 billion mark in 2034. An increase of 14% YoY in the adoption of IoT-enabled equipment is further augmenting the mining of battery materials such as lithium and cobalt. EU support arrangements like Horizon Europe provide grants of over €1.3 billion to propel sustainability and digitalization in mining operations. With environmental legislation being enforced stringently, mining operators are forced to get their emissions checked down to 25% through network monitoring tools.
Europe Connected Mining Market Breakdown by Country (2034)
|
Country/Region |
Market Share (2034) |
Government Initiatives |
Notable Funding / Programs |
|
Germany |
23% |
Industry 4.0 Strategy, Smart Mining Roadmap |
€2.6B federal subsidies for connected mining tech and digital infrastructure under the IPCEI Digital Industry Initiative |
|
France |
17.8% |
France 2030 Plan, Digital & Green Mining Strategy |
€1.05B funding via Bpifrance for AI-driven mining systems, autonomous equipment, and IoT deployment |
|
Sweden |
15.2% |
Smart Mining Demo Program, National Digitalization Plan |
SEK 4.9B (~€470M) investment in connected mining R&D, 5G connectivity pilots, and sustainable mining solutions |
|
Finland |
12.1% |
Sustainable Mining Program, National AI Strategy |
€510M mining digitalization grants through Business Finland and Horizon Europe programs |
|
United Kingdom |
8.7% |
UK Mining Strategy, Digital Infrastructure Fund |
£185M (~€215M) allocated to develop connected fleet management and predictive maintenance platforms |
|
Poland |
6.1% |
National Industry 4.0 Program, Mining Modernization |
€155M for digital mining equipment upgrades and satellite connectivity projects |
|
Rest of Europe |
17.6% |
EU Digital Decade, Critical Raw Materials Act |
Pan-European funding exceeding €1.25B from Horizon Europe and European Investment Bank for smart mining tech |
Key Connected Mining Market Players:
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
The connected mining market is marked by strong competition with leading manufacturers from the USA, Europe, and Asia driving innovation and growth. Market leaders like Dow Inc. and BASF SE command significant shares due to their robust R&D and global distribution networks. Japanese companies such as Mitsui Chemicals, Mitsubishi Chemical Corporation, and Furukawa Co., Ltd. emphasize sustainable chemical innovations and strategic partnerships across Asia-Pacific. Australian and Indian players focus on localized production and integration with digital mining solutions. Overall, firms are prioritizing eco-friendly formulations, smart chemical monitoring, and collaborations with equipment OEMs to meet increasing demands for efficient, low-impact mining operations worldwide.
Top Global Manufacturers in the Connected Mining Market:
|
Company Name |
Country |
Estimated Market Share (%) |
|
Dow Inc. |
USA |
12.3 |
|
BASF SE |
Germany |
10.8 |
|
Mitsui Chemicals, Inc. |
Japan |
8.5 |
|
Orica Limited |
Australia |
7.2 |
|
Samsung SDI Co., Ltd. |
South Korea |
6.1 |
|
Tata Chemicals Limited |
India |
5.9 |
|
Linde plc |
Ireland/Germany |
xx% |
|
Nouryon |
Netherlands |
xx% |
|
Yara International ASA |
Norway |
xx% |
|
Chemours Company |
USA |
xx% |
|
Petronas Chemicals Group Berhad |
Malaysia |
xx% |
|
Sasol Limited |
South Africa |
xx% |
|
Arkema SA |
France |
xx% |
Here are a few areas of focus covered in the competitive landscape of the market:
Recent Developments
- In June 2025, Bloomberg reported that the global connected mining market surged by 22% last year, driven by increased adoption of AI and 5G-enabled automation across North America and Asia Pacific. Major players like Caterpillar and Komatsu launched next-generation autonomous drilling rigs integrated with cloud-based analytics, enhancing operational efficiency and safety. However, supply chain disruptions have slowed equipment deliveries, prompting companies to accelerate investment in local manufacturing hubs.
- In May 2025, Reuters highlighted that a strategic alliance between Sandvik and Ericsson aims to roll out 5G connectivity in underground mines across Europe and Latin America. This partnership leverages Ericsson’s network infrastructure with Sandvik’s mining automation expertise, enabling real-time data transmission and predictive maintenance. The move is expected to cut operational downtime by up to 30% and significantly reduce carbon footprints in mining operations globally.
- Report ID: 7912
- Published Date: Jul 21, 2025
- Report Format: PDF, PPT
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