Smart Mining Technologies Market valued at USD 2.3 Billion in 2022 is anticipated to reach a value of USD 9 Billion in 2030, growing at a CAGR of 14.3%.
Both surface mining, sometimes referred to as open pit or open cast mining, and underground mining operations use smart mining components and equipment. Nevertheless, the working conditions on site and the productivity of underground mines have both improved with the integration of smart mining.
Mining operations will continue to be impacted by the rapid evolution of technology. The Internet of Things (IoT) is becoming more and more prevalent in mining equipment and vehicles, however a completely linked mining site may still be a few years away. Miners are utilising cutting-edge predictive maintenance systems to improve operational effectiveness and decrease downtime. The widespread adoption of IoT is anticipated to be significantly influenced by its application in planning and forecasting maintenance and repair tasks. In order to increase real-time equipment monitoring and continuously improve safety, mining businesses throughout the world are investing in these technologies and solutions.
In order to increase safety, reduce operating costs, and boost productivity at a mine site, smart mining uses information, autonomy, and technology. Mining companies put a lot of effort into increasing productivity by providing cutting-edge software & solutions. Additionally, it incorporates remotely controlled robotic tools for mining minerals and metals, which is recognised as telerobotic mining and lowers the risk to miners.
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Segmental Analysis of Global Smart Mining Technologies Market:
Based on Type
- Underground Mining
- Surface Mining (Open Pit or Open cast)
Based on Category
Automated Equipment
- Excavator
- Robotic Truck
- Driller and Breaker
- Load Haul Dump
- Others
Component
- Hardware
- Sensors
- RFID Tags
- Intelligent Systems
- Others
Software
- Data and operation Management
- Safety and Security Systems
- Connectivity Solutions
- Analytics Solutions
- Remote Management and Logistics
- Asset Management Solutions
Services
- Support and Maintenance (Engineering Services)
- System Integration (Deployment Services)
Consulting Services
Competitive Landscape:
The leading players in the global smart mining market include Hitachi Construction Machinery Co. Ltd., ABB Ltd., Komatsu Ltd., Outotec Oyj, Copco, Caterpillar Inc., Atlas Joy Global Inc., Cisco Systems Inc., and Alcatel-Lucent.
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