Middle East & Africa Smart Mining Market to Grow at a CAGR of 14.5% to reach US$ 1,664.30 Million Million from 2021 to 2028

The MEA smart mining market is expected to grow from US$ 643.22 million in 2021 to US$ 1,664.30 million by 2028; it is estimated to grow at a CAGR of 14.5% from 2021 to 2028.

The UAE, South Africa, and Saudi Arabia are major economies in MEA. Burgeoning adoption of industrial internet of things (IIoT) and artificial intelligence is expected to fuel the MEA smart mining market. Although 77% of mining companies across the region are in the beginning stage of their digital transformation journey, most of the mining companies have already taken significant initiatives to introduce IIoT in operation. The introduction of IIoT helps to attain an increase in production, better and cheaper communication possibilities, real-time maintenance, fast productivity data, better collaboration, and instant resolution of issues. In respect to adoption of advanced technologies, AI and wearables are also getting used to provide real-time data information such as location of workers, fitness, and monitor their health. Also, pertaining with the development of 5G infrastructure, the smart mining business is paving its path towards greater growth. Beginning from enhancing planning & operational efficiencies to mine workflow productivity & safety, quick developments in AI technologies would make operations of mines successful. For instance, by utilizing pattern matching & predictive analysis, the AI programs can analyze quantities of geological data and find new & potentially valuable sites to mine.  This is one of the leading trends in the MEA smart mining market, which adds to the safety of miners on-site.       

In case of COVID-19, MEA is highly affected especially South Africa. Other countries such as Egypt, Morocco, and Kuwait are also facing the effects of COVID-19 pandemic. The majority of operations in the region have been suspended due to an increase in the number of cases in the region. In order to deal with the pandemic, countries have been compelled to redirect funds to improve their healthcare infrastructure. As a result, the demand for mining solution in the mining industry is dwindling. As a result, the COVID-19 pandemic is limiting the demand development of smart mining in the MEA. The mining industry is likely to pick up pace soon after the governments across the MEA region steadily lift the various containment measures in order to revive the economy. The production of the mining equipment is anticipated to gain pace from 2022, which is further foreseen to positively influence the mining industry, including hardware components of mining.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA smart mining market. The MEA smart mining market is expected to grow at a good CAGR during the forecast period. 

MEA Smart Mining Market Segmentation   

MEA Smart Mining Market – By Component

• Hardware
  • RFID Tags
  • Sensors
  • Intelligent System
  • Others
• Software and Solution
  • Logistics Software
  • Data & Operation Management Software
  • Safety & Security Systems
  • Connectivity Solutions
  • Analytics Solutions
  • Remote Management Solutions
  • Asset Management Solutions
• Services

MEA Smart Mining Market – By Mining Type

• Underground Mining
• Surface Mining

MEA Smart Mining Market, by Country

• South Africa
• Saudi Arabia
• UAE    
• Rest of MEA

MEA Smart Mining Market -Companies Mentioned

• ABB Ltd.
• Caterpillar Inc.
• Hexagon AB
• Hitachi, Ltd.
• Intellisense.io
• MineSense
• Rockwell Automation, Inc.
• SAP SE
• Trimble Inc.

Middle East & Africa Smart Mining Market Report Scope

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