Smart Mining Solution Market

Segmentation by Hardware Component (Sensors, RFID Tags, Intelligent Systems, And Others); by Software Solution (Logistics Software, Data and Operation Management Software and Others); by Services (System Integration & Implementation Services, and Consulting Services); by Automated Equipment – Global Demand Analysis & Opportunity Outlook 2030

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Report ID: 3381 | Published On: Feb 08, 2023
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Global Smart Mining Solution Market Regional Synopsis

On the basis of geographical analysis, the global smart mining solution market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Latin America is estimated to witness noteworthy growth over the forecast period on the back of the rising demand for mine plants equipped with remote surveillance and collaborated environment, and increasing government expenditure for technological advancements in the region. It was calculated that the total IT spending in Latin America is expected to increase by approximately 8 percent from the year 2020 to 2021. Argentina, among all the other countries is evaluated to observe the highest growth of about 10.5 percent the same year.  Moreover, the market in North America is anticipated to gather the largest share during the forecast period, which can be credited to the growing amount of investments in process optimization and automation in the mining industry, and early adoption of smart mining techniques in the region. In addition, strong presence of prominent market players is also assessed to drive market growth in the region in the future.

The global smart mining solution market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Smart Mining Solution Market
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Major Macro-Economic Indicators Impacting the Market Growth

Research Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Market Segmentation

Our in-depth analysis of the global smart mining solution market includes the following segments:

By Hardware Component

  • Sensors
  • RFID Tags
  • Intelligent Systems
  • Others

By Software Solution

  • Logistics Software
  • Data and Operation Management Software
  • Safety and Security Systems
  • Others

By Services

  • System Integration & Implementation Services
  • Support & Maintenance
  • Product Training Services
  • Consulting Services

By Automated Equipment

  • Excavators
  • Load Haul Dump
  • Drillers & Breakers
  • Robotic Truck
  • Others

Growth Drivers

  • Growing Adoption of Autonomous Equipment Worldwide
  • Increasing Demand for Metals and Minerals in Various Industries


  • Lack of Skilled Workforce

Research Expenditure
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Top Featured Companies Dominating the Market

    • ABB Ltd.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Caterpillar Inc.
    • Atlas Joy Global Inc.
    • Cisco Systems Inc.
    • Hitachi Construction Machinery Co. Ltd.
    • Komatsu Ltd.
    • Outotec Oyj
    • Alcatel-Lucent
    • SAP SE
    • Rockwell Automation, Inc.

In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the smart mining solution market?

Ans: The major growth drivers for the market are growing adoption of automation equipment worldwide and increasing demand for metals and minerals in various industries.

2) What would be the CAGR of smart mining solution market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~14% over the forecast period, i.e., 2022 – 2030.

3) What are the challenges affecting the smart mining solution market growth?

Ans: Lack of skilled workforce is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of smart mining solution market in future?

Ans: Latin America will provide more business opportunities to the market owing to the rising demand for mine plants equipped with remote surveillance and collaborated environment in the region.

5) Who are the major players dominating the smart mining solution market?

Ans: The major players in the market are ABB Ltd., Caterpillar Inc., Atlas Joy Global Inc., Cisco Systems Inc., Hitachi Construction Machinery Co. Ltd., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the smart mining solution market?

Ans: The market is segmented by hardware component, software solution, services, automated equipment, and by region.

8) Which segment captures the largest market size in the hardware component segment in the smart mining solution market?

Ans: The intelligent systems segment is anticipated to hold largest market size in value and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.

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