Mining Automation Market Current Opportunities, Business Trends, and Growth Forecast by 2030

The global mining automation market was valued at USD 4.90 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2023 to 2030. The rapid advancement in technology, such as Artificial Intelligence (AI) and robotics, has resulted in increased usage of mining automation solutions as a means of boosting production efficiency. The increasing trend of deploying innovative technologies is driving the growth of automated mining solutions. The emergence of the Internet of Things (IoT) in this sector offers mine management with real-time data and analytics with the help of visualization tools. Several operators are teaming up with technology companies to deploy wireless networks underground.

For instance, in April 2021, International Business Machines Corp. (IBM) announced the acquisition of myInvenio, an Italian startup company. The Company builds and operates process mining software. The initiative aims to MyInvenio’s process and task mining technology into IBM Cloud for Robotization, a platform for structuring and running robotization operations.

Mining Automation Market Report Highlights

The mineral mining application segment will register the fastest CAGR over the forecast period
Increased mineral exploration activities globally are expected to boost the segment's growth
The implementation maintenance services segment held a significant market share in 2022
In terms of equipment automation, autonomous trucks dominated the industry in 2022
Retrofitting the mining equipment with automated technology is expected to contribute to the growth of the equipment automation segment considerably

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Segments Covered in the Report

Grand View Research has segmented the global mining automation market based on solution, application, and region:

Mining Automation Solution Outlook (Revenue, USD Million, 2018 - 2030)

Software Automation
Services
- Implementation Maintenance
- Training
- Consulting
Equipment Automation
- Autonomous Trucks
- Remote Control Equipment
- Teleoperated Mining Equipment

Mining Automation Application Outlook (Revenue, USD Million, 2018 - 2030)