The global smart mining market is projected to reach USD 11.54 billion, by the end of 2022, from USD 4.28 billion in 2016, after experiencing accelerated growth by the end of 2019. The mining sector experienced a rebound, in 2016, after suffering heavy losses in 2015. The consequence of the rebound was the creation of opportunities for smart solution providers, with industry players focusing on advanced solutions, and thus, offering cost saving and sustainability. Adoption of automation and IoT in parallel industries, and increasing penetration of connected infrastructure, are providing a boost for smart mining solutions in the industry. Increasing industry assurance, and a worldwide demand for resources, are expected to push the deployment of smart mining, over the forecast period.
The smart mining solutions market has dominated the industry, accounting for 73.55% of the global market share, in 2016. Increased adoption of the technology is expected to boost the demand for services. Data management and analytics software are expected to record the fastest growth of 24.08%, over the forecast period. Implementation of connected and automated systems, on the same lines as IoT and the associated M2M communication, has led to massive generation of raw data for processing and analyzing, to make intelligent decisions. The production of data has created the need for sophisticated data processing solutions, and thus, driving the need for data management and analytics software.
North America dominated the smart mining landscape, holding over 30.5% of the global market share. Consumption is concentrated in the United States (US), while Canada is projecting faster growth, owing to increasing investments in their mining sector. Awareness about the technology and a significant demand for mining resources in the United States, have been major factors augmenting the US market. Adoption of IoT and smart infrastructure solutions in the country, have had a major impact on consumption in the mining industry, while growing investments to enable increased production, which is boosting the US market.
The increased demand for smart mining solution companies, operating in the mining segment, is driving the market, with mergers and acquisitions being one of the major strategies. Large players are penetrating new markets, by acquiring existent companies. On the other hand, the acquisition of technology companies is also playing a crucial role in market penetration. Many established players are merging with regional service providers, to take advantage of the existing market, and offer new products and solutions. Companies are also diverting a significant portion of investments towards R&D, of mining based solutions.

Browse this report: Global Smart Mining Market Study – Mordor Intelligence – (2017-2022)

The report will answer the following key questions:

1. What are the major markets for smart mining solutions?
2. What are the types and applications of smart mining? What is the market share of major players in each market?
3. What is the overall global economic impact on smart mining and development trends in the industry that are influencing the market?
4. What are the key market trends driving the growth of the regional markets?
5. What are the drivers and challenges impacting overall global market growth?
6. What are the major market opportunities and threats faced by the vendors in the global market?

Objective of the Study:

1. To provide a detailed analysis of the market structure, along with forecast of the various segments of the smart mining market.
2. To provide insights about factors affecting the market growth. To analyze the smart mining market, based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
3. To provide geographical revenues of the market segments and sub-segments, with respect to regions - North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
4. To assess different market segments and player dynamics.
5. To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
6. To track and analyze competitive developments, such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and R&D in the global market.

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