Smart Mining Market Size

Smart Mining Market Size

The global smart mining market was valued at USD 15.9 billion in 2024 and is projected to grow at a CAGR of 9.8% between 2025 and 2034. Due to the increased focus on efficiency and operational security in mining activities, the market is growing. IoT intersection, increased automation and data analytics have enabled companies to boost productivity while lowering operational costs. In addition, resource wise smart technologies that help organizations meet environmental standards are also becoming more popular. These factors cumulatively drive the increased use of smart mining solutions.
 

For instance, Sany launched its Smart Mining Solution 3.0 in July 2024 and successfully deployed it in over 10 mining locations across China including the Inner Mongolia as well as Jiangsu province. The solution helps to solve some of the most common problems in vehicle-aided open-pit mining. Such limitations encompass lower efficiency from vehicle use, inadequate feedback mechanisms, and poor safety protocols.

The increasing interest in mining technology focused startups is one of the factors driving the growth of the mining technology industry. These start ups develop novel systems with changing automation, data processing and IoT applications to enhance operational efficacy and safety. Stronger interest from venture capitalists and reduced mining operational expenses allows these companies to make massive technological jumps forward, permitting mining companies to rapidly adopt intelligent resource management techniques. This is transforming how the industry is operated.
 

For instance, in April 2024, Rio Tinto, in conjunction with Founders Factory, announced the impending USD 9.3 million investment to be directed over the course of 3 years. The directions of this collaboration encompass work with pre-seed and seed-stage firms looking to make strides in the safety protocols used in mining works, explore and process enhanced decarbonization, and greater automation in the mining processes.