openPR Logo
Press release

Smart Mining Market worth US$ 23,055.4 million by 2028 - Exclusive Research by The Insight Partners

12-16-2021 12:16 PM CET | IT, New Media & Software

Press release from: The Insight Partners

/ PR Agency: The Insight Partners
The Insight Partners

The Insight Partners

According to our new research study on “Smart Mining Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Mining Type, and Geography,” the market is projected to reach US$ 23,055.4 million by 2028 from US$ 9,614.5 million in 2021; it is expected to grow at a CAGR of 13.3% from 2021 to 2028.

The mining industry is witnessing growth in its activities owing to the rising demand for coal for power generation and growing demand for minerals and metals. In the industry, mining projects are rising rapidly. For instance, Aurania Resources (a Toronto-headquarter company) is putting efforts into exploring gold in southeastern Ecuador in the Cordillera del Cutucu. The region consists of gold–copper skarn, porphyry copper clusters, and epithermal gold deposits. Similarly, another Toronto-located large-scale gold mining company, Ari Sussman-led Continental Gold developed a wholly-owned Buritica gold mine project in Antioquia, which was scheduled for production in 2020.  New mining projects prevailing across different countries are expected to promote the mining business, which would bolster the growth of the smart mining market during the forecast period.

Get Sample Report of Smart Mining Market Report @ https://bit.ly/327S8WQ

APAC held the largest share in the smart mining market, followed by North America and Europe. Upsurge in the middle-class population and rise in urbanization across Asian countries offer lucrative opportunities for key players in the smart mining market. Many of the largest mining companies in the world reside in the region, i.e., of the top 40 mining companies by market capitalization globally, close to half are in or closely tied to the region. Furthermore, the most important recent mining deals involve the region. The mentioned factors are anticipated to contribute to the growth generated by the smart mining market in APAC

The smart mining market in MEA is expected to grow fastest during the forecast period. Industry players in Middle East point to the fact that most of the area has yet to be explored utilizing contemporary techniques and equipment. Even though Africa has more than 30% of the world's mineral reserves, the region receives less than 5% of the overall global mining exploration and extraction budget. The potential for a thriving mining sector in the MEA region is enormous. Many nations in the MEA have recently enacted or are in the process of enacting new mining regulations to stimulate investment.

Impact of COVID-19 Pandemic on Smart Mining Market

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 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 is anticipated to gain pace from 2022, which is further foreseen to positively influence the mining industry, including hardware components of mining.

Smart Mining Market Forecast to 2028 - Latest COVID-19 Analysis at https://bit.ly/32aLizO

Smart Mining Market for Hardware Segment to Grow in Coming Years

Wearable devices found applications in the mining industry for regulating production processes in hard rock mines, health and safety management in coal mines, and monitoring environmental quality in industrial mineral mines. For instance, wearable cameras are used at mining sites for many purposes, depending on the characteristics of the mining activity. In most cases, the cameras are useful tools for site monitoring and process controlling in outdoor environments. Nevertheless, there are a few regulations that need to be considered before introducing any smart mining hardware component.

Smart Mining Market: Mining Type Overview

Based on mining type, the smart mining market is bifurcated into underground mining and surface mining. The surface mining segment dominates the market. The market growth for the segment is driven by the surging demand for both nonmetallic and metallic minerals, increasing consumption of energy, growing concerns regarding energy security across various countries, rising technological advancements in mining, an abundance of reserves that can be exploited utilizing surface mining, and the lesser capital requirement.

Smart Mining Market: Competitive Landscape and Key Developments

ABB Ltd.; Alastri; Atlas Copco; Caterpillar Inc.; Cisco Systems Inc.; Hexagon AB; Hitachi Construction Machinery Co. Ltd.; Komatsu Mining Corporation; Rockwell Automation, Inc.; and Trimble are among key players operating in the global smart mining market. The leading companies are focusing on the expansion and diversification of their market presence and acquisition of a new customer base, thereby tapping prevailing business opportunities.

Interested in purchasing this Report?  Click here @ https://bit.ly/31WKDTc

A few of the recent key developments are:

In June 2020, Trimble introduced the Trimble SX12 Scanning Total Station.
In January 2021, ABB delivered trolley assist solution to meet Copper Mountain Mining’s sustainable development goals in Canada.

Contact US:

If you have any queries about this report or would like further information, please contact us:

North America: +1 646 491 9876

Asia-Pacific: +91 20 6727 8686

Email: sales@theinsightpartners.com

ABOUT US:

The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Smart Mining Market worth US$ 23,055.4 million by 2028 - Exclusive Research by The Insight Partners here

News-ID: 2501565 • Views:

More Releases from The Insight Partners

Agricultural Lighting Market Estimated to Experience a Hike in Growth by 2031
Agricultural Lighting Market Estimated to Experience a Hike in Growth by 2031
The increasing adoption of indoor farming practices is a significant driver of the agricultural lighting market. As urbanization rises and arable land decreases, farmers are turning to controlled environment agriculture (CEA) to maximize yield. Advanced lighting solutions, such as LED grow lights, provide the necessary light spectrum for optimal plant growth, enabling year-round production. This shift towards indoor and vertical farming systems drives the demand for effective and energy-efficient agricultural
Medical Device Validation and Verification Market Worth by 2031
Medical Device Validation and Verification Market Worth by 2031
Offers a comprehensive overview of the market's current state and future growth trajectory. It identifies key drivers, challenges, and opportunities, providing valuable insights for various business stakeholders. According to the report's forecast, the sector is set to witness a steady expansion in market size, market share, and innovation over the next six years. Download Sample PDF @ https://www.theinsightpartners.com/sample/TIPRE00016735/?utm_source=OpenPR&utm_medium=10759 Key Growth Drivers The press release details five major factors propelling the market forward: 1. Stringent
Medical Vacuum Filters Market Positioned for Substantial Growth Through 2031
Medical Vacuum Filters Market Positioned for Substantial Growth Through 2031
New York, US - August 28, 2025- A new market report from The Insight Partners projects a strong and steady expansion for the global medical vacuum filters market, fueled by a confluence of rising healthcare demands and technological innovation. The report, titled "Medical Vacuum Filters Market Share, Size, Trends, and Forecast by 2031," highlights that the sector is set for significant growth in both market size and innovation over the
Growing Industrial Automation and IoT Driving the Level Translators Market
Growing Industrial Automation and IoT Driving the Level Translators Market
New York, US - August 21, 2025- The market for level translators is projected to grow significantly by 2031, fueled by the rise in industrial automation and the expanding use of consumer electronics, automotive systems, and IoT devices. According to a new report from The Insight Partners, this growth is driven by the increasing need for components that can seamlessly bridge the gap between devices operating at different voltage

All 5 Releases


More Releases for Mining

Gold Mining Market is Booming Worldwide | Newmont Mining, Coeur Mining, Freeport …
The " Gold Mining - Market Development Outlook " Study has been added to AMA Research repository. The study envisage detailed qualitative as well as quantitative market data insights and follows Industry benchmark classification and NAICS standards to built strong players coverage in the study. Some of the major and emerging players identified are Newmont Mining United States), Coeur Mining (United States), Freeport-McMoRan (United States), North Bloomfield Mining and Gravel
Mining Equipment Market by Type (Mineral Processing Equipment; Surface Mining Eq …
Asia-Pacific serves as the most productive region as compared to others with diverse industry verticals significantly investing in mining equipment. Moreover, various domestic players are investing in the mining sector, which is anticipated to boost the demand for mining equipment such as crusher, trucks, loaders, diggers, and others as to complete operations with reduced labor cost and high precision of work within optimized time. Furthermore, the surface mining equipment market
Mining Equipment Market by Type (Mineral Processing Equipment; Surface Mining Eq …
Asia-Pacific serves as the most productive region as compared to others with diverse industry verticals significantly investing in mining equipment. Moreover, various domestic players are investing in the mining sector, which is anticipated to boost the demand for mining equipment such as crusher, trucks, loaders, diggers, and others as to complete operations with reduced labor cost and high precision of work within optimized time. Furthermore, the surface mining equipment market
Coal Mining Market by Mining Technology, Underground Mining and Application with …
Coal has been a fundamental source of energy since many years. Presently, coal is majorly used to power generation, steel production, and as a fluid fuel. China accounts for majority of the total coal production across the globe. The report segments the coal mining market on the basis of mining technology, application, and geography. On the basis of mining technology, the market is bifurcated into surface mining and underground mining. Surface
Base Metals Mining Market in China to 2021| Zijin Mining Group Company, China Da …
Albany, NY, 1st November : Recent research and the current scenario as well as future market potential of "Base Metals Mining in China to 2021-Robust Consumption and Imports Expected in the Upcoming Years" globally. Summary GlobalDatas "Base Metals Mining in China to 2021", report covers comprehensive information on Chinas base metal (copper, nickel, zinc, and lead) mining industry, base metal (copper, nickel, zinc, and lead) reserves and grade, the historical and forecast
Coal Mining Market by Mining Technology {Surface Mining (Strip Mining, Auger Min …
Coal has been a fundamental source of energy since many years. Presently, coal is majorly used to power generation, steel production, and as a fluid fuel. China accounts for majority of the total coal production across the globe. Access Full Summary: https://www.alliedmarketresearch.com/coal-mining-market The growth of the Asia-Pacific coal mining market is driven by increase in usage of coal in steel manufacturing and electricity generation. However, stringent government regulations towards environmental pollution due