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

Middle East & Africa Smart Mining Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Hardware, Software and Solution, and Services) and Mining Type (Underground Mining and Surface Mining)

  • Report Code : TIPRE00024830
  • Category : Manufacturing and Construction
  • Status : Published
  • No. of Pages : 146
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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

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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

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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.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Component and Mining Type

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Saudi Arabia

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. MEA Smart Mining Market Landscape

4.1 Market Overview

4.2 MEA PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. MEA Smart Mining Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Escalating Need to Keep the Workforce Safe

5.1.2 Surging Data Security Issues

5.2 Market Restraints

5.2.1 Rigorous Government Regulations

5.3 Market Opportunities

5.3.1 Rising Technological Advancement in Mining Industry

5.4 Future Trends

5.4.1 Burgeoning Adoption of Industrial Internet of Things (IIoT) and Artificial Intelligence

5.5 Impact Analysis of Drivers and Restraints

6. Smart Mining Market – MEA Analysis

6.1 MEA Smart Mining Market Overview

6.2 MEA Smart Mining Market –Revenue and Forecast to 2028 (US$ Million)

7. MEA Smart Mining Market Analysis – By Component

7.1 Overview

7.2 MEA Smart Mining Market Breakdown, by Component (2020 and 2028)

7.3 Hardware

7.3.1 Overview

7.3.2 Hardware: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

7.3.3 RFID Tags

7.3.3.1 Overview

7.3.3.2 RFID Tags Market Forecast and Analysis

7.3.4 Sensors

7.3.4.1 Overview

7.3.4.2 Sensors Market Forecast and Analysis

7.3.5 Intelligent Systems

7.3.5.1 Overview

7.3.5.2 Intelligent System Market Forecast and Analysis

7.3.6 Others

7.3.6.1 Overview

7.4 Software and Solutions

7.4.1 Overview

7.4.2 Software & Solutions: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

7.4.3 Logistics Software

7.4.3.1 Overview

7.4.3.2 Logistics Software Market Forecast and Analysis

7.4.4 Data and Operation Management

7.4.4.1 Overview

7.4.4.2 Data and Operation Management Market Forecast and Analysis

7.4.5 Safety and Security Systems

7.4.5.1 Overview

7.4.5.2 Safety and Security Systems Market Forecast and Analysis

7.4.6 Connectivity Solutions

7.4.6.1 Overview

7.4.6.2 Connectivity Solutions Market Forecast and Analysis

7.4.7 Analytics Solutions

7.4.7.1 Overview

7.4.7.2 Analytics Solutions Market Forecast and Analysis

7.4.8 Remote Management Solutions

7.4.8.1 Overview

7.4.8.2 Remote Management Solutions Market Forecast and Analysis

7.4.9 Asset Management Solutions

7.4.9.1 Overview

7.4.9.2 Asset Management Solutions Market Forecast and Analysis

7.5 Services

7.5.1 Overview

7.5.2 Services: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

8. MEA Smart Mining Market Analysis– By Mining Type

8.1 Overview

8.2 MEA Smart Mining Market Breakdown, by Mining Type (2020 and 2028)

8.3 Underground Mining

8.3.1 Overview

8.3.2 Underground Mining: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

8.4 Surface Mining

8.4.1 Overview

8.4.2 Surface Mining: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

9. MEA Smart Mining Market – Country Analysis

9.1 Overview

9.1.1 MEA: Smart Mining Market, by Key Country

9.1.1.1 South Africa: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.1.1 South Africa: Smart Mining Market, by Component

9.1.1.1.2 South Africa: Smart Mining Market, by Hardware

9.1.1.1.3 South Africa: Smart Mining Market, by Software and Solution

9.1.1.1.4 South Africa: Smart Mining Market, by Mining Type

9.1.1.2 Saudi Arabia: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.2.1 Saudi Arabia: Smart Mining Market, by Component

9.1.1.2.2 Saudi Arabia: Smart Mining Market, by Hardware

9.1.1.2.3 Saudi Arabia: Smart Mining Market, by Software and Solution

9.1.1.2.4 Saudi Arabia: Smart Mining Market, by Mining Type

9.1.1.3 UAE: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.3.1 UAE: Smart Mining Market, by Component

9.1.1.3.2 UAE: Smart Mining Market, by Hardware

9.1.1.3.3 UAE: Smart Mining Market, by Software and Solution

9.1.1.3.4 UAE: Smart Mining Market, by Mining Type

9.1.1.4 Rest of MEA: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.4.1 Rest of MEA: Smart Mining Market, by Component

9.1.1.4.2 Rest of MEA: Smart Mining Market, by Hardware

9.1.1.4.3 Rest of MEA: Smart Mining Market, by Software and Solution

9.1.1.4.4 Rest of MEA: Smart Mining Market, by Mining Type

10. Impact Of COVID-19 Pandemic on MEA Smart Mining Market

10.1 MEA: Impact Assessment of COVID-19 Pandemic

11. Industry Landscape

11.1 Overview

11.2 Market Initiative

11.3 Merger and Acquisition

11.4 New Development

12. Company Profiles

12.1 ABB Ltd.

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Caterpillar Inc.

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Hexagon AB

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 Intellisense.io

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 Hitachi, Ltd.

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 MineSense

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 SWOT Analysis

12.6.5 Key Developments

12.7 Rockwell Automation, Inc.

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 SAP SE

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

12.9 Trimble Inc.

12.9.1 Key Facts

12.9.2 Business Description

12.9.3 Products and Services

12.9.4 Financial Overview

12.9.5 SWOT Analysis

12.9.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES

Table 1. MEA Smart Mining Market –Revenue and Forecast to 2028 (US$ Million)

Table 2. South Africa: Smart Mining Market, by Component – Revenue and Forecast to 2028 (US$ Million)

Table 3. South Africa: Smart Mining Market, by Hardware – Revenue and Forecast to 2028 (US$ Million)

Table 4. South Africa: Smart Mining Market, by Software and Solution – Revenue and Forecast to 2027 (US$ Million)

Table 5. South Africa: Smart Mining Market, by Mining Type – Revenue and Forecast to 2028 (US$ Million)

Table 6. South Africa: Smart Mining Market, by Component – Revenue and Forecast to 2028 (US$ Million)

Table 7. South Africa: Smart Mining Market, by Hardware – Revenue and Forecast to 2028 (US$ Million)

Table 8. South Africa: Smart Mining Market, by Software and Solution – Revenue and Forecast to 2027 (US$ Million)

Table 9. South Africa: Smart Mining Market, by Mining Type – Revenue and Forecast to 2028 (US$ Million)

Table 10. UAE: Smart Mining Market, by Component – Revenue and Forecast to 2028 (US$ Million)

Table 11. UAE: Smart Mining Market, by Hardware – Revenue and Forecast to 2028 (US$ Million)

Table 12. UAE: Smart Mining Market, by Software and Solution – Revenue and Forecast to 2028 (US$ Million)

Table 13. UAE: Smart Mining Market, by Mining Type – Revenue and Forecast to 2028 (US$ Million)

Table 14. Rest of MEA: Smart Mining Market, by Component – Revenue and Forecast to 2028 (US$ Million)

Table 15. Rest of MEA: Smart Mining Market, by Hardware – Revenue and Forecast to 2028 (US$ Million)

Table 16. Rest of MEA: Smart Mining Market, by Software and Solution – Revenue and Forecast to 2027 (US$ Million)

Table 17. Rest of MEA: Smart Mining Market, by Mining Type – Revenue and Forecast to 2028 (US$ Million)

Table 18. List of Abbreviation

LIST OF FIGURES

Figure 1. MEA Smart Mining Market Segmentation

Figure 2. MEA Smart Mining Market Segmentation – By Country

Figure 3. MEA Smart Mining Market Overview

Figure 4. Hardware Segment Held the Largest Market Share in 2020

Figure 5. Underground Mining Held the Largest Market Share in 2020

Figure 6. Saudi Arabia was the Largest Revenue Contributor in 2020

Figure 7. MEA – PEST Analysis

Figure 8. Ecosystem Analysis

Figure 9. Expert Opinion

Figure 10. MEA Smart Mining Market Impact Analysis of Drivers and Restraints

Figure 11. MEA Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 12. MEA Smart Mining Market Revenue Share, by Component (2020 and 2028)

Figure 13. MEA Hardware: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 14. MEA RFID Tags: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 15. MEA Sensors: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 16. MEA Intelligent System: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 17. MEA Others: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 18. MEA Software & Solutions: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 19. MEA Logistics Software: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 20. MEA Data and Operation Management: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21. MEA Safety and Security Systems: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 22. MEA Connectivity Solutions: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 23. MEA Analytics Solutions: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24. MEA Remote Management Solutions: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 25. MEA Asset Management Solutions: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 26. MEA Services: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 27. MEA Smart Mining Market Revenue Share, by Mining Type (2020 and 2028)

Figure 28. MEA Underground Mining: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 29. MEA Surface Mining: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 30. MEA: Smart Mining Market, by Key Country – Revenue (2020) (USD Million)

Figure 31. MEA: Smart Mining Market Revenue Share, by Key Country (2020 and 2028)

Figure 32. South Africa: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 33. Saudi Arabia: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 34. UAE: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 35. Rest of MEA: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)

Figure 36. Impact of COVID-19 Pandemic in MEA Country Markets

  1. ABB Ltd.
  2. Caterpillar Inc.
  3. Hexagon AB
  4. Hitachi, Ltd.
  5. Intellisense.io
  6. MineSense
  7. Rockwell Automation, Inc.
  8. SAP SE
  9. Trimble Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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