Mining Automation Market Size Worth $9.95 Billion By 2032 | CAGR: 7.2%

The global mining automation market size is expected to reach USD 9.95 billion by 2032, according to a new study by Polaris Market Research. The report “Mining Automation Market Share, Size, Trends, Industry Analysis Report, By Solution (Software Automation, Equipment Automation, and Services); By Application; By Workflow; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Extensively growing advancements in technology including artificial intelligence, machine learning, and robotics, has resulted in significant rise in the usage of mining automation solutions aiming to boost the production efficiency and ensuring the highest level of safety to the workers, are among the key factors driving market growth. The mining companies globally are also implementing on wireless network technology that allows internet protocol telephones and highly advanced positioning technology are installed in mines.

For instance, in February 2023, Vedanta Aluminium, introduced Robotic Process Automation for their entire commercial phase, that makes Vedanta the first company to use hyper automation in the Indian mining industry.

Moreover, the industry is shifting from traditional trucks to electric operated trucks. Electric mining trucks have many advantages over traditional diesel-powered trucks when it comes to productivity. The electric drivetrain provides better efficiency and reduces the number of components needed, which can translate to lower maintenance and operating costs.

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In the recent years, advanced data analytics is being highly applied to the raw data for creating visualization, insights, and recommendations, that is delivered to the mine employees and managers in real time on their smart mobile devices, thus such kind of innovations and technology adoption in the mining sector is likely to create lucrative growth opportunities and will stimulate the demand soon.

Moreover, the rising incorporation of chirp technology in mining activities complementing GPS and LiDAR to exchange data, measure distances, and determine locations is also generating new potential for the global market. As, it enables mine operators to optimize the operations and reduce the accident risks through improving communication and coordination. In combination with the IoT platforms, these technologies are projected to make several mining operations more sustainable through minimizing the energy consumption and waste production.

Furthermore, the tension surrounding new climate policies has also increased regional tensions, as governments seek to balance the need to tackle climate change with the need to address energy supply issues. Some regions may see the implementation of new climate policies as a threat to their energy security and may push back against such policies.

Mining Automation Market Report Highlights

• Software automation segment accounted for largest market share in 2022, on account development in vehicles including autonomous truck and tele-operated mining equipment
• Metal mining segment anticipated to register a high CAGR due to growing prevalence for automated solutions and technologies to cater the rising need for base metals
• Mine development held the largest share in 2022, mainly due to surging penetration for underground mining for coal and other deposits
• Asia Pacific region dominated the global market, owing to adoption of automated mining equipment among large companies and low labor cost
• The global key market players include Autonomous Solution, RPM Global Holdings, Rockwell Automation, SANY Group, Liebherr Group, and Mine Site Technologies

Polaris Market Research has segmented the mining automation market report based on solution, application, workflow, and region:

Mining Automation, Solution Outlook (Revenue - USD Billion, 2019 - 2032)

• Software Automation
• Equipment Automation
• Services

Mining Automation, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Metal Mining
• Mineral Mining
• Coal Mining

Mining Automation, Workflow Outlook (Revenue - USD Billion, 2019 - 2032)

• Mine Development
• Mining Process
• Mine Maintenance

Mining Automation, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Mining Automation Market Report Scope