1. Market Research
  2. > Mining and Quarrying Market Trends
Smart Mining Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component and Mining Type

Smart Mining Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component and Mining Type

  • July 2021
  • 181 pages
  • ID: 6128434
  • Format: PDF
  • The Insight Partners


Table of Contents

Search Inside

The smart mining market was valued at US$ 9,334.5 million in 2020 and is projected to reach US$ 23,055.4 million by 2028; it is expected to grow at a CAGR of 13.3% from 2021 to 2028. Increasing demand for minerals and metals leads to growing need for the expansion of mining activities that drives the growth of the smart mining market.

Rising adoption of autonomous equipment, increased concerns about safety and security, and growing environmental concerns are factors boosting the growth of the smart mining market.Furthermore, smart mining technology is considerably safer and environment-friendly as compared with the traditional mining technology.

In the wake of COVID-19, the mining & metal companies have got impacted adversely.For instance, logistics disruptions such as the transport and shipping restrictions have adversely impacted the market growth.

Russia and countries in the Middle East & Africa have stopped taking metal shipments from China; this factor has disrupted trade inside Europe.Furthermore, due to shortage of upstream supplies, such as machine components, chemicals, and critical consumables, business of metal & mining has drastically impacted ability to operate.

Due to low availability of materials coupled with logistics disruptions, the smart mining market has been negatively impacted.
Based on component, the software and solutions segment is expected to grow at the highest CAGR in the global smart mining market during the forecast period.Smart mining software use different algorithms, artificial intelligence, and the statistical database, which provide the appropriate use of knowledge, autonomy, and technology to facilitate low operating costs, improved safety, and high mining productivity.

Smart mining tools and technologies help reduce overall costs, and streamline the processes.Moreover, the integration of advanced IIoT technologies and mining is likely to form the backbone of a fleet of fully autonomous haul trucks, drills, and excavators, which can enable additional savings, reduce fuel and staffing costs, and maximize operating performance.

Mines can meet production goals by avoiding disruption and maximizing efficiency, thereby efficiently responding to the market demand.
The COVID-19 outbreak has severely disrupted the supply chain and manufacturing of mining equipment, including the hardware component of mining.The emergence of COVID-19 virus across the globe, followed by lockdown scenarios, has led the mining industry experts to analyze that the industry would face at least a quarter of lag in mining equipment supply chain.

This disruption is expected to create tremors till mid-2021.The mining industry is likely to pick up pace soon after the governments across the globe steadily lift the various containment measures in order to revive the economy.

The production of the mining equipment and is anticipated to gain pace from 2022, which is further foreseen to positively influence the mining industry, including hardware components of mining.
The overall smart mining market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the smart mining market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants of this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the smart mining market.

ABB Ltd.; Alastri; Caterpillar Inc.; Intellisense.io; Hitachi, Ltd.; MineSense; Rockwell Automation, Inc.; SAP SE; Trimble Inc. are among the key players operating in the market.

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
  • 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.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

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 [email protected] 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 - [email protected] 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.


Reportlinker.com © Copyright 2021. 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