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Smart Mining Market

Market Insights on Smart Mining covering sales outlook, demand forecast & up-to-date key trends

Smart Mining Market By Automated Equipment (Driller & Breaker, Load Haul Dump ), Component (Hardware, Intelligent System), Solution (Data & Operation Management Software, Analytics Solution), Service (Engineering & Maintenance Service, Consulting Service) & Region - Forecast to 2015 - 2020

Introduction

Adoption of automated vehicles and technology will continue to gain traction in the mining industry, as operational efficiency and safety gain centre stage. During the forecast period 2015-2020, the global smart mining market is anticipated to increase at a compound annual growth rate (CAGR) of 14.5%, and rake in US$ 13 Bn in revenues. The key areas which are currently witnessing increasing automation include surface drilling technologies, simulator training, and machine guidance.

The key trends expected to shape up the adoption of smart technologies include,

Robust Adoption of Internet of Things (IoT)

Rapid advancement in technology will continue to influence mining operations. While a fully connected mining site may be still be a few years away, IoT is increasingly being adopted in mining equipment and vehicles. To increase operational efficiency and reduce downtime, miners are using advanced tools for predictive maintenance. The use of IoT in scheduling and predicting maintenance and repair tasks is expected to play a key role in its widespread adoption.

Investment in Simulation Technology

Simulation technology is gaining traction among miners owing to its proven benefits in responding to emergency situations. While the technology per se is highly efficient, shrinking budgets have resulted into limited adoption. However, the technology is poised to witness widespread adoption in the long run.

Growing Use of 3D Imaging

3D imaging is being widely used for exploration of mines, and this trend is expected to become stronger in the future. It is anticipated that adoption of this technology will grow on account of its growing use in planning and targeting of drill holes.

Implementation of Remote Monitoring Systems

Remote monitoring systems enable miners to collect data from the site in real-time and transmit it to the local centre in real time. A significant percentage of mining companies have successfully adopted remote monitoring systems in their operations. Implementation of remote monitoring systems is anticipated to witness an uptick in the near future.

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Smart Mining Market: End-user Survey Analysis

FMI conducted an end-user survey with leading mining operators based in Middle East & Africa (MEA), ASEAN, Oceania, and BRIC. Some of the key findings of the survey include,

  • Over 88% respondents agreed to using smart mining technology solutions in both surface and underground mining
  • Smart mining will witness the highest adoption among miners in Oceania, followed by ASEAN
  • Nearly 31% respondents that did not use smart mining technology solutions currently planned to deploy these solutions in the next one year
  • Companies operating in both (surface & underground) mining types managed over 70% of logistics and production operations in-house
  • Survey results concluded that among all the mining operations, major volumes of the production process is managed in-house

(Complete findings of the survey are available in the report)

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Smart Mining Market: Analysis and Forecast by Automated Equipment

Excavator machines and load haul dumps will witness the highest level of automation during the forecast period 2015-2020. Collectively, these two equipment segments are expected to account for 50% revenue share of the overall smart mining market in 2020.

Smart Mining Market: Automated Equipment Analysis (US$ Mn)

  • Driller & Breaker
    • 2015 - 928
    • 2020 - XX
    • CAGR - XX
  • LHD
    • 2015 - 1186
    • 2020 - XX
    • CAGR - XX
  • Mining Excavator
    • 2015 - XX
    • 2020 - XX
    • CAGR - XX
  • Robotic Truck
    • 2015 - XX
    • 2020 - XX
    • CAGR - XX
  • Others
    • 2015 - XX
    • 2020 - XX
    • CAGR - XX
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Smart Mining Market: Region-wise Analysis and Forecast

Asia Pacific excluding Japan (APEJ) will continue to remain the largest market for smart mining globally. North America and Western Europe will remain the other lucrative markets for smart mining equipment and services during the forecast period. APEJ accounted for nearly 35% revenue share of the market in 2015; by 2020, the revenue share is expected to reach 38.6%. US$ 1.63 billion worth of smart mining equipment and services were sold in North America in 2015. The North America smart mining market is anticipated to increase at a CAGR of over 12% through 2020 and rake in nearly US$ 3 billion in revenues.

Leading Players in Global Smart Mining Market

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. In addition to raising awareness among end-users, these players are investing in R&D to launch cutting-edge products and services in the market.

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Key Segments Covered

  • By Automated Equipment
    • Driller & Breaker
    • Load Haul Dump
    • Mining Excavator
    • Robotic Truck
    • Other Automated Equipment
  • By Component
    • Hardware
    • Intelligent System
    • RFID Tag and Sensor
    • Other Hardware
  • Solution
    • Data & Operation Management Software
    • Analytics Solution
    • Connectivity Platform
    • Other Solution
  • Service
    • Engineering & Maintenance Service
    • Consulting Service
    • Product Training Service
    • Implementation & Integration Service

Key Regions/Countries Covered:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • MEA

Frequently Asked Questions

The smart mining market is likely to secure a CAGR of 13% through 2032

The smart mining market size is estimated to cross US$ 56.35 Bn by 2032.

The smart mining market is likely to record a value of US$ 16.6 Bn in 2022.

Asia Pacific excluding Japan (APEJ) region is likely to lead the smart mining market.

Table of Content

1. Executive Summary

    1.1. Research Methodology

    1.2. Assumptions and Acronym Used

2. Global Smart Mining Market Overview

    2.1. Introduction

        2.1.1. Mining Techniques

        2.1.2. Evolution and History

        2.1.3. Market Trends

3. Global Smart Mining Market Analysis

    3.1. Global Smart Mining Market Value Forecast and Y-o-Y Growth, 2013-2020

    3.2. Global Smart Mining Market Absolute $ Opportunity, 2013-2020

4. Market Dynamics

    4.1. Driver

        4.1.1. Economic

        4.1.2. Supply

        4.1.3. Demand

    4.2. Restraint

    4.3. Value Chain

5. Global Smart Mining Market Analysis, by Type

    5.1. Global Smart Mining Market Share and BPS Analysis, by Type, 2014 & 2020

    5.2. Automated Equipment

        5.2.1. Global Smart Mining Market Value Forecast and Y-o-Y Growth, by Automated Equipment , 2014-2020

        5.2.2. Global Smart Mining Market Absolute $ Opportunity, by Automated Equipment, 2014-2020 (US $)

    5.3. Component

        5.3.1. Global Smart Mining Market Value Forecast and Y-o-Y Growth, by Automated Equipment , 2014-2020

        5.3.2. Global Smart Mining Market Absolute $ Opportunity, by Automated Equipment, 2014-2020 (US $)

    5.4. Key Segment Trend

6. Global Smart Mining Market Analysis, by Automated Equipment

    6.1. Global Smart Mining Market Share and BPS Analysis, by Automated Equipment, 2014 & 2020

    6.2. Global Smart Mining Market Attractiveness By Automated Equipment

    6.3. Driller & Breaker

        6.3.1. Global Smart Mining Market Value Forecast and Y-o-Y Growth, by Driller & Breaker, 2013-2020

        6.3.2. Global Smart Mining Market Absolute $ Opportunity, by Intelligent System, 2013-2020

    6.4. Load Haul Dump (LHD)

        6.4.1. Global Smart Mining Market Value Forecast and Y-o-Y Growth, by Load Haul Dump, 2013-2020

        6.4.2. Global Smart Mining Market Absolute $ Opportunity, by Load Haul Dump, 2013-2020

    6.5. Mining Excavator

        6.5.1. Global Smart Mining Market Value Forecast and Y-o-Y Growth, by Mining Excavator, 2013-2020

        6.5.2. Global Smart Mining Market Absolute $ Opportunity, by Mining Excavator, 2013-2020

    6.6. Robotic Truck

        6.6.1. Global Smart Mining Market Value Forecast and Y-o-Y Growth, by Robotic Truck, 2013-2020

        6.6.2. Global Smart Mining Market Absolute $ Opportunity, by Robotic Truck, 2013-2020

    6.7. Key Segment Trend

7. Global Smart Mining Market Analysis, by Component

    7.1. Global Smart Mining Market Share and BPS Analysis, by Component, 2014 & 2020 (%)

    7.2. Global Smart Mining Market Attractiveness By Component

    7.3. Hardware

        7.3.1. Global Smart Mining Market Value Forecast and Y-o-Y Growth, by Hardware, 2014-2020

        7.3.2. Global Smart Mining Market Absolute $ Opportunity, by Hardware, 2014-2020

            7.3.2.1. Intelligent System Category Value Forecast and Absolute $ Opportunity, 2013-2020

            7.3.2.2. RFID Tag & Sensor Category Value Forecast and Absolute $ Opportunity, 2013-2020

            7.3.2.3. Other Hardware Category Value Forecast and Absolute $ Opportunity

    7.4. Solution

        7.4.1. Global Smart Mining Market Value Forecast and Y-o-Y Growth, by Solution, 2013-2020

        7.4.2. Global Smart Mining Market Absolute $ Opportunity, by Solution, 2013-2020

            7.4.2.1. Data & Operation Management Software Value Forecast and Absolute $ Opportunity, 2013-2020

            7.4.2.2. Analytics Solution Value Forecast and Absolute $ Opportunity, 2013-2020

            7.4.2.3. Connectivity Solution Value Forecast and Absolute $ Opportunity, 2013-2020

            7.4.2.4. Other Solution Value Forecast and Absolute $ Opportunity, 2013-2020

    7.5. Service

        7.5.1. Global Smart Mining Market Value Forecast and Y-o-Y Growth, by Service, 2013-2020

        7.5.2. Global Smart Mining Market Absolute $ Opportunity, by Service, 2013-2020

            7.5.2.1. Engineering & Maintenance Service Category Value Forecast & Absolute $ Opportunity, 2013-2020

            7.5.2.2. Consulting Service Category Value Forecast and Absolute $ Opportunity, 2013-2020

            7.5.2.3. Product Training Service Category Value Forecast and Absolute $ Opportunity, 2013-2020

            7.5.2.4. Implementation & Maintenance Service Category Value Forecast and Absolute $ Opportunity, 2013-2020

    7.6. Key Segment Trend

8. Global Smart Mining Market Analysis, by Region

    8.1. Global Smart Mining Market Share and BPS Analysis, by Region, 2014 & 2020 (%)

    8.2. Global Smart Mining Market Attractiveness By Region

        8.2.1. North America Smart Mining Market Analysis

            8.2.1.1. North America Smart Mining Market Value Forecast and Y-o-Y Growth, 2013-2020

            8.2.1.2. North America Smart Mining Market Absolute $ Opportunity, 2013-2020

                8.2.1.2.1. North America Smart Mining Market Value Forecast, by Automated Equipment

                8.2.1.2.2. North America Smart Mining Market Value, by Component

            8.2.1.3. Impact Analysis of Drivers and Restraints

        8.2.2. Latin America Smart Mining Market Analysis

            8.2.2.1. Latin America Smart Mining Market Value Forecast and Y-o-Y Growth, 2013-2020

            8.2.2.2. Latin America Smart Mining Market Absolute $ Opportunity, 2013-2020

                8.2.2.2.1. North America Smart Mining Market Value Forecast, by Automated Equipment

                8.2.2.2.2. Latin America Smart Mining Market Value, by Component

            8.2.2.3. Impact Analysis of Drivers and Restraints

        8.2.3. Western Europe Smart Mining Market Analysis

            8.2.3.1. Western Europe Smart Mining Market Value Forecast and Y-o-Y Growth, 2013-2020

            8.2.3.2. Western Europe Smart Mining Market Absolute $ Opportunity, 2013-2020

                8.2.3.2.1. Western Europe Smart Mining Market Value Forecast, by Automated Equipment

                8.2.3.2.2. Western Europe Smart Mining Market Value, by Component

            8.2.3.3. Impact Analysis of Drivers and Restraints

        8.2.4. Eastern Europe Smart Mining Market Analysis

            8.2.4.1. Eastern Europe Smart Mining Market Value Forecast and Y-o-Y Growth, 2013-2020

            8.2.4.2. Eastern Europe Smart Mining Market Absolute $ Opportunity, 2013-2020

                8.2.4.2.1. Eastern Europe Smart Mining Market Value Forecast, by Automated Equipment

                8.2.4.2.2. Eastern Europe Smart Mining Market Value, by Component

            8.2.4.3. Impact Analysis of Drivers and Restraints

        8.2.5. Asia-Pacific Excluding Japan (APEJ) Smart Mining Market Analysis

            8.2.5.1. APEJ Smart Mining Market Value Forecast and Y-o-Y Growth, 2013-2020

            8.2.5.2. APEJ Smart Mining Market Absolute $ Opportunity, 2013-2020

                8.2.5.2.1. APEJ Smart Mining Market Value Forecast, by Automated Equipment

                8.2.5.2.2. APEJ Smart Mining Market Value, by Component

            8.2.5.3. Impact Analysis of Drivers and Restraints

        8.2.6. Japan Smart Mining Market Analysis

            8.2.6.1. Japan Smart Mining Market Value Forecast and Y-o-Y Growth, 2013-2020

            8.2.6.2. Japan Smart Mining Market Absolute $ Opportunity, 2013-2020

                8.2.6.2.1. Japan Smart Mining Market Value Forecast, by Automated Equipment

                8.2.6.2.2. Japan Smart Mining Market Value, by Component

            8.2.6.3. Impact Analysis of Drivers and Restraints

        8.2.7. Middle East & Africa (MEA) Smart Mining Market Analysis

            8.2.7.1. MEA Smart Mining Market Value Forecast and Y-o-Y Growth, 2013-2020

            8.2.7.2. MEA Smart Mining Market Absolute $ Opportunity, 2013-2020

                8.2.7.2.1. MEA Smart Mining Market Value Forecast, by Automated Equipment

                8.2.7.2.2. MEA Smart Mining Market Value, by Component

            8.2.7.3. Impact Analysis of Drivers and Restraints

9. Competitive Landscape

    9.1. ABB Ltd

    9.2. Atlas Copco

    9.3. Caterpillar Inc

    9.4. Hitachi Construction Machinery Co Ltd

    9.5. Joy Global Inc

    9.6. Komatsu Ltd

    9.7. Outotec Oyj

    9.8. Cisco Systems Inc

    9.9. Alcatel-Lucent

    9.10. RungePincockMinarco Limited

    9.11. Sandvik Mining and Construction

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List of Tables

Table 1: Global Smart Mining Market Value Forecast & Absolute $ Opportunity, By Hardware Category, 2013–2020 (US$ Mn

Table 2: Global Smart Mining Market Value Forecast & Absolute $ Opportunity, By Solution, 2013–2020 (US$ Mn)

Table 3: Global Smart Mining Market Value Forecast & Absolute $ Opportunity, By Service, 2013–2020 (US$ Mn)

Table 4: North America Smart Mining Market Value Forecast & Absolute $ Opportunity By Type, 2013–2020

Table 5: North America Smart Mining Market Value Forecast, By Automated Equipment, 2013–2020

Table 6: North America Smart Mining Market Value Forecast By Component, 2013–2020

Table 7: Latin America Smart Mining Market Value Forecast & Absolute $ Opportunity, By Type, 2013–2020

Table 8: Latin America Smart Mining Market Value Forecast, By Automated Equipment, 2013–2020

Table 9: Latin America Smart Mining Market Value Forecast, By Component, 2013–2020

Table 10: Western Europe Smart Mining Market Value Forecast & Absolute $ Opportunity, By Type, 2013–2020

Table 11: Western Europe Smart Mining Market Value Forecast, By Automated Equipment, 2013–2020

Table 12: Eastern Europe Smart Mining Market Value Forecast & Absolute $ Opportunity, By Type, 2013–2020

Table 13: Eastern Europe Smart Mining Market Value Forecast, By Automated Equipment, 2013–2020

Table 14: Eastern Europe Smart Mining Market Value Forecast, By Component, 2013–2020

Table 15: APEJ Smart Mining Market Value Forecast & Absolute $ Opportunity, By Type, 2013–2020

Table 16: APEJ Smart Mining Market Value Forecast, By Automated Equipment, 2013–2020

Table 17: APEJ Smart Mining Market Value Forecast, By Component, 2013–2020

Table 18: Japan Smart Mining Market Value Forecast & Absolute $ Opportunity, By Type, 2013–2020

Table 19: Japan Smart Mining Market Value Forecast, By Automated Equipment, 2013–2020

Table 20: Japan Smart Mining Market Value Forecast, By Component, 2013–2020

Table 21: MEA Smart Mining Market Value Forecast & Absolute $ Opportunity, By Type, 2013–2020

Table 22: MEA Smart Mining Market Value Forecast, By Automated Equipment, 2013–2020

Table 23: MEA Smart Mining Market Value Forecast, By Component, 2013–2020

Sudip Saha
Principal Consultant
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List of Charts

Figure 1: Global Smart Mining Market Value Forecast & Y-o-Y Growth, 2013–2020

Figure 2: Global Smart Mining Market Absolute $ Opportunity, 2013–2020

Figure 3: Global Smart Mining Market Y-o-Y Growth Rate Comparison, By Type, 2014–2020

Figure 4: Global Smart Mining Market Share, By Type, 2014 & 2020

Figure 5: Global Smart Mining Market Value Forecast & Y-o-Y Growth, By Automated Equipment, 2013–2020

Figure 6: Global Smart Mining Market Absolute $ Opportunity, By Automated Equipment, 2013–2020

Figure 7: Global Smart Mining Market Value Forecast & Y-o-Y Growth, By Component, 2013–2020

Figure 8: Global Smart Mining Market Absolute $ Opportunity, By Component, 2013–2020

Figure 9: Global Smart Mining Market Share, By Automated Equipment Sub-segment, 2014 & 2020

Figure 10: Global Smart Mining Market Attractiveness, By Automated Equipment Sub-Segment, 2014 & 2020

Figure 11: Global Smart Mining Market Value Forecast & Y-o-Y Growth, By Driller & Breaker, 2013–2020

Figure 12: Global Smart Mining Market Absolute $ Opportunity, By Driller & Breaker, 2013–2020

Figure 13: Global Smart Mining Market Value Forecast & Y-o-Y Growth, By LHD, 2013–2020

Figure 14: Global Smart Mining Market Absolute $ Opportunity, By LHD, 2013–2020

Figure 15: Global Smart Mining Market Value Forecast & Y-o-Y Growth, By Mining Excavator, 2013–2020

Figure 16: Global Smart Mining Market Absolute $ Opportunity, By Mining Excavator, 2013–2020

Figure 17: Global Smart Mining Market Value Forecast & Y-o-Y Growth, By Robotic Truck, 2013–2020

Figure 18: Global Smart Mining Market Absolute $ Opportunity, By Robotic Truck, 2013–2020

Figure 19: Global Smart Mining Market Value Forecast & Y-o-Y Growth, By Other Equipment, 2013–2020

Figure 20: Global Smart Mining Market Absolute $ Opportunity, By Other Equipment, 2013–2020

Figure 21: Global Smart Mining Market Share, By Component Sub-segment, 2014 & 2020

Figure 22: Global Smart Mining Market Attractiveness, By Component Sub-segment, 2014

Figure 23: Global Smart Mining Market Value Forecast & Y-o-Y Growth, By Hardware, 2013–2020

Figure 24: Global Smart Mining Market Absolute $ Opportunity, By Hardware, 2013–2020

Figure 25: Global Smart Mining Market Value Forecast & Y-o-Y Growth, By Solution, 2013–2020

Figure 26: Global Smart Mining Market Absolute $ Opportunity, By Solution, 2013–2020

Figure 27: Global Smart Mining Market Value Forecast & Y-o-Y Growth, By Service, 2013–2020

Figure 28: Global Smart Mining Market Absolute $ Opportunity, By Service, 2013–2020

Figure 29: Global Smart Mining Market Share, By Region, 2014 & 2020

Figure 30: Global Smart Mining Market Attractiveness by Region, 2020

Figure 31: North America Smart Mining Market Value Forecast & Y-o-Y Growth, 2013–2020

Figure 32: North Smart Mining Market Absolute $ Opportunity, 2013–2020

Figure 33: Latin America Smart Mining Market Value Forecast & Y-o-Y Growth, 2013–2020

Figure 34: Latin America Smart Mining Market Absolute $ Opportunity, 2013–2020

Figure 35: Western Europe Smart Mining Market Value Forecast & Y-o-Y Growth, 2013–2020

Figure 36: Western Europe Smart Mining Market Absolute $ Opportunity, 2013–2020

Figure 37: Eastern Europe Smart Mining Market Value Forecast & Y-o-Y Growth, 2013–2020

Figure 38: Eastern Europe Smart Mining Market Absolute $ Opportunity, 2013–2020

Figure 39: APEJ Smart Mining Market Value Forecast & Y-o-Y Growth, 2013–2020

Figure 40: APEJ Smart Mining Market Absolute $ Opportunity, 2013–2020

Figure 41: Japan Smart Mining Market Value Forecast & Y-o-Y Growth, 2013–2020

Figure 42: Japan Smart Mining Market Absolute $ Opportunity, 2013–2020

Figure 43: MEA Smart Mining Market Value Forecast & Y-o-Y Growth, 2013–2020

Figure 44: MEA Smart Mining Market Absolute $ Opportunity, 2013–2020

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