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Smart Mining Market Share

Report ID: GMI12217
Published Date: Nov 2024
Report Format: PDF

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Smart Mining Market Share

Rockwell Automation, Komatsu, and SAP collectively held a substantial market share of 14% in the smart mining industry in 2024. Rockwell Automation leverages its expertise in industrial automation and information technology to offer comprehensive smart mining solutions. Their products enhance operational efficiency through advanced data analytics and automation, enabling mines to optimize processes and reduce downtime. With a strong focus on IoT integration, Rockwell Automation helps mining companies achieve greater visibility and control over their operations, driving innovation in the sector.

Komatsu combines heavy machinery manufacturing with cutting-edge technology to lead the smart mining market. Their autonomous vehicles and remote monitoring systems enhance safety and productivity in mining operations. Komatsu’s investment in R&D enables the development of advanced solutions that integrate AI and IoT, ensuring their equipment meets the evolving demands of modern mining while improving operational efficiencies and reducing environmental impact.

Smart Mining Market Companies

Major players operating in the smart mining industry are:

ABB
Cisco Systems
Epiroc
Ericsson
IBM
Komatsu
Rockwell Automation
SAP
Trimble
Wenco International Mining Systems

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of smart mining reached USD 15.9 billion in 2024 and is set to grow at a 9.8% CAGR from 2025 to 2034, driven by the increasing demand for operational efficiency and safety in mining operations.

The hardware segment accounted for 48% of the market share in 2024 and is expected to exceed USD 19.4 billion by 2034, characterized by the integration of advanced technologies such as IoT sensors, RFID tags, and intelligent systems.

The surface mining segment held 65% of the market share in 2024, with growth focused on automation and advanced technologies to optimize operations, improve safety, and reduce environmental impact.

The North America market accounted for a 34% share in 2023 and is expected to exceed USD 13.9 billion by 2034, driven by significant advancements in smart mining technology and increased automation and digitalization efforts.

The key players in the industry include ABB, Cisco Systems, Epiroc, Ericsson, IBM, Komatsu, Rockwell Automation, SAP, Trimble, and Wenco International Mining Systems.