Smart Mining or the connected mining is the use of advanced technology to connect and communicate with the systems involved in mining. This smart mining has the ensuring efficiency and always performs reliable operations. In this IoT and other smart devices are used which gives better operational management. The Global Smart Mining Market was 7.63 Billion USD in 2018 and is estimated to reach 15.10 Billion USD by 2025 at a CAGR of 10.24% during the forecast period.
Growth by Region
North America is expected to witness a largest Global Functional Printing Market share due to increasing demand for base and precious metals in the region followed by Asia Pacific region and Europe.
Drivers vs. Constraints
The evolution of the smart mines around the world and increasing expenditure of ICT over mining industry are the factors which drives the growth of Global Smart Mining Market.
Industry Structure and Updates
In March 2017, two top Smart Mining Companies Gekko Systems and Rockwell Automation signed a Memorandum of Understanding in order to develop software solution which assists mining customers globally.