Smart Mining or connected mining is the use of advanced technology to connect and communicate between systems involved in mining, ensuring efficient and reliable operation. Using IoT and other smart devices, connected mining provides better operations management. Mining machinery, Logistic Operations and all other operations and connected with each other. This allows constant monitoring and information transfer between all the systems, optimizing performance and reducing the costs. These systems can be employed in both surface and underground mining operations.
The need for smart solutions to optimize efficiency is driving the demand for this market. North America is currently dominating the connected mining industry. Increased investments in smart technologies and fast adoption is helping the industry to grow. However high complexity of the technology and need for skilled personnel to maintain the systems is hindering the growth of this M2M technology.
Global connected mining market can be segmented by Type (Underground Mining and Surface Mining), Type of Service (System Integration, Consulting, Engineering & Maintenance and Others), by Solution (Equipment Automation, Analytics Solution, Data & Operation Management Software, Connectivity Platform, and Others) and by Geography (North America, Asia Pacific, Latin America, Europe, and Middle East and Africa).