Mining Automation Industry Overview

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.

Gather more insights about the market drivers, restrains and growth of the Mining Automation Market

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. The company will benefit from the data-driven software and tools that help them track sales, production, procurement, and accounting. The increasing need for mine and worker safety is providing an impetus to industry growth. Previously, the traditional mining techniques have compromised the safety of the mine workers resulting in increased hazards at the mining site.

Therefore, providers have developed smart mining solutions and equipment to ensure the safety of workers. For instance, in November 2020, ABB launched the ABB Ability safety plus, a suite for the mine hoist. It is considered the mining industry’s first fully independently certified Safety Integrity Level 3 (SIL 3), which is very specific and rare for risk reduction and safety hazards for the mine hoist solution with the proper security by offering three solutions: safety plus brake system, safety plus hoist monitor, and safety plus hoist protector. The initiative aims to enhance the environment for mining to be safe for workers and types of equipment.

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Mining Automation Market Segmentation

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
• Equipment Automation

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

• Metal Mining
• Mineral Mining
• Coal Mining

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

• North America
  • Canada
  • US
• Europe
  • Germany
  • UK
• Asia Pacific
  • Australia
  • China
  • India
  • Japan
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa

Key Companies profiled:

• Atlas Copco AB
• Autonomous Solution Inc.
• Caterpillar
• Epiroc AB
• Hexagon AB
• Hitachi, Ltd.
• Komatsu Ltd.
• Liebherr Group
• MST (Mine Site Technologies)
• Rio Tinto
• Rockwell Automation, Inc.
• RPM Global Holdings Ltd.
• Sandvik AB
• Siemens
• Trimble Inc.

Key Mining Automation Company Insights

The players focus on offering autonomous solutions that provide benefits, such as productivity and cost efficiency, in mining operations. The providers are offering products with tele-remote operation, AHS, and ADS solutions, thereby enhancing their product offerings. Several providers are either retrofitting autonomous technology in their existing line of equipment or are introducing a new line of automated machines to gain a foothold in the market. Currently, Caterpillar Inc. and Komatsu Ltd. have their lineup of autonomous trucks whereas Rio Tinto Group has retrofitted 19 Cat 793F mining trucks aimed at autonomous operations.

Moreover, Caterpillar Inc. has installed Cat Command for Hauling software intended for the operation of the autonomous fleet. For instance, in April 2022, Microsoft acquired Minit as one of the prominent players in process mining technology and helps businesses convert the way they analyze, cover, and optimize their processes. The initiative aims to boost the process mining in power automation, to help clients digitally transform & drive functional excellence by creating a complete image of their business processes, allowing every function to be fluently and automatically analyzed and refined. 

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