Global Smart Mining Market, 2015 – 2021

Smart Mining Market
Earlier, the mining industry was mainly dependent only on the labor force. Miners usually
used tools such as iron chisels and hammers, compressed drills, pickaxes, and other
manually operated tools for mining operations. Hence, to reduce the manual intervention in
order to save the time utilized and associated costs there was a need for smart mining. The
introduction of numerous smart mining technologies for carrying out mining operations thus
has changed the picture of the mining industry. Some of trending smart mining technologies
include several automated mining equipment, RFID tags, sensors, and various types of
mine monitoring and analytics software.
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Increased focus on safety and health, rapid adoption of Internet of Things (IoT) solutions,
and rise in adoption of autonomous equipment are some of the factors boosting the growth
of the market. Advantages such as efficient connectivity among miners, optimal production
and recovery time with minimum wastage, and safe and environment-friendly nature of the
smart mining as compared to the traditional mining technology also impact the market
growth in a positive way. Rising concerns about mining operation optimization along with
increasing use of Internet of Things (IoT) solutions in mining operations are boosting the
global market for smart mining. On the other hand, lack of highly skilled and qualified labor,
availability of poor infrastructure, and strict government regulations regarding air, water, and
environment are the key factors hindering the growth of the market.