1. Market Research
  2. > Mining and Quarrying Market Trends
Smart Mining Market - Growth, Trends and Forecasts (2019 - 2024)

Smart Mining Market - Growth, Trends and Forecasts (2019 - 2024)

  • October 2019
  • 135 pages
  • ID: 5821468
  • Format: PDF
  • By Mordor Intelligence LLP


Table of Contents

Search Inside

Market Overview
The smart mining market is expected to register a CAGR of 19.7% over the forecast period. The Internet of Things (IoT) has had a considerable impact on transforming multiple industries by forging real-time connections between machinery, environmental conditions, people, and business processes.

- The rising pressure due to the increasing demands for production and cost reductions calls for changes in the basic infrastructure, processes, and technology in the mining industry.
- The increasing penetration of advanced technology in the industry is projected to cut down significant costs of the workforce for the end-users, and hence, result in considerable cost optimization.
- Further, advanced data analytics is being applied to the raw data to create visualizations, insights, and recommendations. This information is then delivered to mine managers and employees in real-time on their mobile devices.
- For instance, Dundee Precious Metals was one of the first mining companies to introduce wireless network technology into an underground mine. The company utilized RFID and Wi-Fi technology to monitor the location of people and equipment. The networks also acted as a means of surveillance as they allowed the person to stay connected to the surface.

Scope of the Report
Mining is a labor-intensive activity that needs to take under consideration various safety concerns. Smart mining refers to the use of information and data, autonomy, and technology to facilitate high productivity, enhanced safety, and diminished operational costs during the mining process.

Key Market Trends
Underground Mining to Witness Highest Growth

- Underground mining is a technique devised to extract hard metals from ore compounds, such as metals, coal, and minerals, including iron ore, titanium, bauxite, and copper, as well as various non-metallic products from beneath the earth’s surface.
- Underground mining requires a certain amount of background check, before the mining operations can be deployed, on parameters, such as geographical conditions, spatial and geometric characteristics, the economic value of the ore, estimated operational costs, and the availability of raw materials.
- The main purpose of the installation of smart mining systems is to track the flow of the ores and identify the feasible areas of extraction and potential dilution. The strategies by the mining organizations are drawn, based on the findings of smart solutions, in order to maximize ore recovery.
- However, owing to tough terrain, the safety and security systems, like the global positioning systems, cannot be used. In addition, owing to the interference from the rock mass and lack of access points, wireless sensor networks are less reliable.
- Thus, the manufacturers have been actively investing in adding intelligence to the existing technology, in order to deal with the challenging environment.

North America to Hold Major Share

- In North America, the United States has been witnessing an economic dislocation with regard to its mining industry (especially coal mining), due to political sensitivity. This has led to plant idling and workforce reductions in these mines, which has been a challenging factor for the smart mining market.
- Dynamic regulations in the country, due to the changing political environment, is expected to challenge the position of smart mining system manufacturers.
- With the increasing challenges, such as changing the sociopolitical environment, limited access to capital, rising costs, and resource nationalism, the industry in the region is seeking new ways to overcome these challenges.
- The smart mining initiatives by various major companies are expected to play crucial roles in overcoming the aforementioned challenges.
- Some of the prominent players operating across the region, are focusing on providing real-time analysis with the evolution of the Internet. Thereby, bringing together people, processes, data, and things, to drive powerful production process, which leads to enhanced business outcomes.
- For instance, Cisco connected mining helps to gain real-time visibility into each step of the mining and production process, accurately monitor output, equipment, worker location, and security. It supports faster decision making with reduced production cost and improved safety, thereby creating safer working conditions and helping in responding to new opportunities.

Competitive Landscape
The smart mining market has been gaining a competitive edge in the recent years. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer bases across the foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market shares and increase their profitability.

- May 2018: Wenco International Mining Systems launched it’s Wenco Mine Performance Suite 6. It helped Wenco to move beyond traditional dispatch systems by incorporating user interface enhancements, as well as across-the-suite integration for improved insights, safety, and performance.
- May 2017: Cisco partnered with the mining companies in Kazakhstan, to help improve productivity and efficiency. In addition, Cisco is working with Kazatomprom, a national mining operator, to develop a convergent digital mine network that connects the previously separate networks for voice collaboration, industrial and automation control, and office control.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
10% Off


  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
Mine Ventilation Market by Offering, Technique And Region - Global Forecast to 2024

Mine Ventilation Market by Offering, Technique And Region - Global Forecast to 2024

  • $ 4950
  • December 2019

Mine ventilation market to exhibit significant growth during 2019–2024The global mine ventilation market size is estimated to grow from USD 326 million in 2019 to USD 401 million by 2024 at a CAGR of ...

IDC FutureScape: Worldwide Mining 2020 Predictions

IDC FutureScape: Worldwide Mining 2020 Predictions

  • $ 4500
  • October 2019

This IDC study contains the outlook of IDC Energy Insights' analyst team for the worldwide mining industry for 2020-2025. The outlook is presented through the lens of the 10 predictions that make up, in ...

Global Smart Mining Market Analysis & Trends - Industry Forcast to 2028

Global Smart Mining Market Analysis & Trends - Industry Forcast to 2028

  • $ 4200
  • November 2019

The Global Smart Mining Market is poised to grow strong during the forecast period 2018 to 2028.Some of the prominent trends that the market is witnessing include increasing importance of data management ...

Global Mining Automation Industry $ 4950 October 2019

Global Mining Chemicals Industry $ 5450 October 2019


Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on