Connected Mining Market Size, Share, and Growth Analysis

Connected Mining Market By Component (Service, Equipment), By Type (Automated Mining Excavators, Load Haul Dump), By Mining Type (Surface Mining, Underground Mining), By Region -Industry Forecast 2025-2032


Report ID: SQMIG15J2087 | Region: Global | Published Date: January, 2025
Pages: 198 |Tables: 114 |Figures: 72

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Connected Mining Market Insights

Global Connected Mining Market size was valued at USD 12.36 Billion in 2023 and is poised to grow from USD 13.60 Billion in 2024 to USD 29.23 Billion by 2032, growing at a CAGR of 10.04% in the forecast period (2025-2032).

The significant investment required for implementing connected mining technologies can be a barrier for many mining companies and affect connected mining demand forecast. Increased connectivity and data sharing also heighten the risk of cyberattacks and data breaches. Moreover, there is a shortage of skilled professionals capable of managing and maintaining advanced mining technologies which affects the market expansion. Connected mining helps to increase production capabilities by real-time monitoring and communication with integrated systems. Predictive maintenance is also offered by connected mining, which provides on-site cost monitoring and utilization of resources through digital monitoring.Increased safety and security concerns of the mineworkers are also driving the growth of global connected mining market. UV exposure, dust, noise, chemical hazards, ground instability, and other factors cause harmful effects to the health of workers. Thus, the incorporation of an autonomous fleet, remote-controlled equipment, and ventilation solutions lead to safe working conditions and improvement of operational productivity. Safety and efficiency can be maintained at a high level in mining through the use of secured IP networks and multi-service networks.

Market snapshot - (2025-2032)

Global Market Size

USD 12.36 Billion

Largest Segment

Service

Fastest Growth

Equipment

Growth Rate

10.04% CAGR

Global Connected Mining Market ($ Bn)
Country Share for North America Region (%)

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Connected Mining Market Segments Analysis

Global connected mining market is segmented by type, component, technology, mining type and region. Based on type, the market is segmented into automated mining excavators, load haul dump, drillers and breakers and others. Based on component, the market is segmented into equipment, software and service. Based on technology, the market is segmented into data/operations/asset management and security software, support and maintenance services, system integration and deployment services and others. Based on mining type, the market is segmented into surface mining and underground mining. Based on the region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.

Analysis by Component

As per the global connected mining market forecast, service is the dominating segment in the market. The service segment in the market is driven by the need for enhanced operational efficiency, cost reduction, and improved safety standards. The integration of advanced technologies like AI and IoT in mining operations necessitates expert services for optimal functioning. These services ensure that mining equipment and software are maintained at peak performance, reducing downtime and extending equipment life. Additionally, they provide training and support to the workforce, crucial for adopting new technologies and ensuring safety in increasingly automated environments. The service segment complements the equipment by providing the expertise needed for implementation, monitoring, and maintenance of connected systems.

Equipment is the fastest growing segment in the market. On the other hand, equipment enhanced with connectivity and data analytics plays a vital role in automating and optimizing mining processes. These advanced tools improve accuracy, efficiency, and safety, allowing for more precise extraction and resource handling. They also enable real-time monitoring and maintenance, reducing downtime and extending the equipment's operational lifespan. Furthermore, connected equipment facilitates better environmental monitoring, ensuring compliance with regulatory standards and minimizing ecological impact. Advanced machinery equipped with IoT sensors, GPS, and automation technologies enable real-time data collection, remote monitoring, and predictive maintenance.

Analysis by Type

As per the global connected mining market outlook, automated mining excavators are the dominating segment. The demand for automated mining excavators is propelled by their ability to increase efficiency and productivity while reducing operational costs. These excavators operate with precision and consistency, minimizing human error and enhancing safety in hazardous mining conditions. They are integral to achieving remote and autonomous mining operations, reducing the need for human presence in dangerous underground environments. Furthermore, their integration with digital systems allows for real-time data analysis, optimizing excavation processes and resource allocation. Automated mining excavators are a cornerstone of connected mining operations, significantly improving efficiency, precision, and safety in resource extraction.

As per the global connected mining market outlook, load haul dump is the fastest growing segment in the market. Load haul dump units in connected mining are crucial for efficient material handling and transportation within mining sites. Enhanced with connectivity, these vehicles can be remotely operated, reducing the risk to human operators in hazardous conditions. The integration of LHDs with IoT and data analytics optimizes their routing and scheduling, enhancing operational efficiency. Connected LHDs, equipped with IoT sensors and autonomous driving systems, ensure seamless communication with centralized monitoring platforms. These machines enhance productivity by reducing cycle times and improving material transportation accuracy.

Global Connected Mining Market By Component (%)

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Connected Mining Market Regional Insights

North America is the dominating region in the market. Major factors increasing the connected mining market revenue include advancements in IoT and AI technologies, which enhance operational efficiency and safety, and the increasing demand for real-time data analytics to optimize mining processes and reduce costs. Regional market players such as Rockwell Automation Inc. are focusing on scalable automation solutions and leveraging IoT to enhance mining operations. Key initiatives include developing control systems that reduce downtime and increase operational efficiency. The dominance of the United States in mineral production indicates strong potential for market growth, as it is likely to invest heavily in advanced technologies to optimize and sustain its mining operations.

Asia Pacific is anticipated to witness a CAGR of 13.9% in the forecast period. This can be attributed to the growth of the connected mining industry in various countries in the region including China and India, among others. The markets in India and China are expected to witness CAGRs of 15.2% and 13.6% respectively during the forecast period. Increasing emphasis on safety, reliability, and automation is also anticipated to aid the market expansion in the Asia Pacific region. Moreover, the growing adoption of automated machinery and robotics to enhance operational efficiency and reduce human intervention can boost market opportunities.

Global Connected Mining Market By Geography
  • Largest
  • Fastest

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Connected Mining Market Dynamics

Drivers

Increasing Focus on Safety and Sustainability

  • The connected mining market is significantly influenced by the growing emphasis on safety and environmental sustainability in mining operations. Connected technologies enable real-time monitoring of mine sites, improving worker safety by predicting hazardous situations and reducing accident risks. These technologies also facilitate remote operations, which can minimize the need for human presence in dangerous environments. Moreover, sustainability concerns are leading to the adoption of systems that can monitor and reduce the environmental impact of mining activities.

Increase Investment in Simulation Technology

  • Enterprises are continuously looking for the latest and advanced innovation to enhance productivity and reduce operating costs. One of those technological investments that are turning heads is equipment simulator systems. More and more mine operators are realizing the advantages that simulation can bring to their mine sites around the globe. Mining companies are purchasing simulation systems to enhance their core fundamental performance. For instance, South Africa-based ThoroughTec Simulations company provides Cybermine training simulators, the advanced military standard technology into several new markets, including India and Kazakhstan.

Restraints

Operational Efficiency and Cost Reduction

  • The pursuit of operational efficiency and cost reduction is another major driver for the connected mining market. Automation of repetitive and routine tasks not only increases efficiency but also reduces labor costs and minimizes human errors. Connected mining technologies offer significant improvements in operational efficiency by enabling better resource management, optimizing mine planning, and reducing wastage. Real-time data collection and analysis lead to more informed and timely decisions, streamlining various mining processes.

High Cost of Implementation

  • Challenges include the high cost of implementation and the need for skilled personnel to manage advanced technologies. The increasing demand for sustainable and efficient mining practices also opens new avenues for global connected mining market growth. However, these challenges present opportunities for the market players to innovate cost-effective solutions and offer training programs to build a skilled workforce.

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Connected Mining Market Competitive Landscape

The global connected mining industry is characterized by leading technology companies and mining solution providers who jointly innovate and meet the dynamic needs of the industry. These players focus on developing advanced IoT-enabled platforms, automation solutions and data-driven technologies to improve mining performance. Strategic partnerships, mergers and acquisitions are common as companies aim to expand their market reach and technological capabilities. Leading players such as Cisco Systems, ABB Ltd., Rockwell Automation offer integrated solutions that enable real-time data monitoring, predictive analytics, and seamless communication between devices and operators Companies such as SAP SE and IBM Corporation transform the market with cloud-based platforms and AI solutions for operational efficiency.

Top Players in Connected Mining Market

  • Cisco Systems, Inc.
  • ABB Ltd.
  • Rockwell Automation, Inc.
  • SAP SE
  • Siemens AG
  • Caterpillar Inc.
  • Hexagon AB
  • Hitachi Construction Machinery Co., Ltd.
  • Komatsu Ltd.
  • IBM Corporation
  • Trimble Inc.
  • Schneider Electric SE
  • Wenco International Mining Systems Ltd.
  • Honeywell International Inc.
  • Accenture plc

Recent Developments

  • January 2024: ABB today announced that it has agreed to acquire Canadian company Real Tech, a leading provider of innovative optical sensor technology that enables real-time water monitoring and testing.
  • January 2024: Accenture agreed to acquire Work & Co, a global digital products company that blends design, technology and innovation to help companies build amazing products and experiences.
  • September 2021: Alastri, an innovative planning software company that specializes in open pit mining, is acquired by MICROMINE, the leader of the iron ore mining industry. It also has the benefit of Alastri’s expertise in high quality software development.

Connected Mining Key Market Trends

Connected Mining Market SkyQuest Analysis

SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to SkyQuest analysis, the global connected mining industry is transforming the industry by leveraging sophisticated technologies such as the Internet of Things (IoT), artificial intelligence (AI), big data analytics, automation, etc. The growing demand is expected to drive the market in the coming years. Solutions which combine to help mining companies maximize productivity, reduce downtime and comply with stringent environmental regulations. North America dominates the market due to the rapid adoption of the advanced technologies, a strong regulatory framework that promotes sustainable mining practices, and the availability of leading-edge technology professionals.

Report Metric Details
Market size value in 2023 USD 12.36 Billion
Market size value in 2032 USD 29.23 Billion
Growth Rate 10.04%
Base year 2024
Forecast period (2025-2032)
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Automated Mining Excavators, Load Haul Dump, Drillers and Breakers and Others
  • Component
    • Equipment, Software and Service
  • Technology
    • Data/Operations/Asset Management and Security Software, Support and Maintenance Services, System Integration and Deployment Services and Others
  • Mining Type
    • Surface Mining and Underground Mining
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Cisco Systems, Inc.
  • ABB Ltd.
  • Rockwell Automation, Inc.
  • SAP SE
  • Siemens AG
  • Caterpillar Inc.
  • Hexagon AB
  • Hitachi Construction Machinery Co., Ltd.
  • Komatsu Ltd.
  • IBM Corporation
  • Trimble Inc.
  • Schneider Electric SE
  • Wenco International Mining Systems Ltd.
  • Honeywell International Inc.
  • Accenture plc
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Connected Mining Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Connected Mining Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Connected Mining Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Connected Mining Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Connected Mining Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Connected Mining Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Connected Mining Market size was valued at USD 12.36 Billion in 2023 and is poised to grow from USD 13.60 Billion in 2024 to USD 29.23 Billion by 2032, growing at a CAGR of 10.04% in the forecast period (2025-2032).

The global connected mining industry is characterized by leading technology companies and mining solution providers who jointly innovate and meet the dynamic needs of the industry. These players focus on developing advanced IoT-enabled platforms, automation solutions and data-driven technologies to improve mining performance. Strategic partnerships, mergers and acquisitions are common as companies aim to expand their market reach and technological capabilities. Leading players such as Cisco Systems, ABB Ltd., Rockwell Automation offer integrated solutions that enable real-time data monitoring, predictive analytics, and seamless communication between devices and operators Companies such as SAP SE and IBM Corporation transform the market with cloud-based platforms and AI solutions for operational efficiency. 'Cisco Systems, Inc.', 'ABB Ltd.', 'Rockwell Automation, Inc.', 'SAP SE', 'Siemens AG', 'Caterpillar Inc.', 'Hexagon AB', 'Hitachi Construction Machinery Co., Ltd.', 'Komatsu Ltd.', 'IBM Corporation', 'Trimble Inc.', 'Schneider Electric SE', 'Wenco International Mining Systems Ltd.', 'Honeywell International Inc.', 'Accenture plc'

The connected mining market is significantly influenced by the growing emphasis on safety and environmental sustainability in mining operations. Connected technologies enable real-time monitoring of mine sites, improving worker safety by predicting hazardous situations and reducing accident risks. These technologies also facilitate remote operations, which can minimize the need for human presence in dangerous environments. Moreover, sustainability concerns are leading to the adoption of systems that can monitor and reduce the environmental impact of mining activities.

Technological Advancements in Mining Operations: Integrated IoT devices enable real-time monitoring of device and environmental conditions, improving safety and productivity. One of the major drivers of the connected mining market is the rapid development of technologies such as the Internet of Things (IoT), Artificial Intelligence (AI) and machine learning algorithms. These technologies are playing a critical role in transforming the traditional mining operations into more efficient, responsive and data-driven processes.

North America is the dominating region in the market. Major factors increasing the connected mining market revenue include advancements in IoT and AI technologies, which enhance operational efficiency and safety, and the increasing demand for real-time data analytics to optimize mining processes and reduce costs. Regional market players such as Rockwell Automation Inc. are focusing on scalable automation solutions and leveraging IoT to enhance mining operations. Key initiatives include developing control systems that reduce downtime and increase operational efficiency. The dominance of the United States in mineral production indicates strong potential for market growth, as it is likely to invest heavily in advanced technologies to optimize and sustain its mining operations.

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Connected Mining Market

Report ID: SQMIG15J2087

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