The SAM smart mining market is expected to grow from US$ 388.52 million in 2021 to US$ 865.93 million by 2028; it is estimated to grow at a CAGR of 12.1% from 2021 to 2028.
Brazil and Argentina are major economies in SAM. Ensuring data security will surge the SAM smart mining market. Data sources in the mining industry can be classified into two parts, namely, direct, or indirect (ancillary) measurements. Direct measurement sources are those taken by instruments such as GPS and conventional geodetic surveys. Indirect references refer to systems that collect data as a by-product of processes or operations such as Fleet Management Systems, SCADA or DCS data, blast hole drills, and geomodelling data. For improving ore recovery, an ore body modelling technique is used. The model provides geological patterns that help in determining the drill holes. The right mining decisions, therefore, depends on the availability of correct data from multiple systems combined with real-time data analytics. These decisions can be applied to mining production, exploration, and operations. They can also be used for monitoring and reporting metrics and KPIs. Additionally, they help in identifying root causes for operational bottlenecks such as unscheduled truck maintenance delays, long queuing time of trucks and LHDs, delays in lab samples undergoing quality control and batch processing, etc. Mining companies usually have confidential data, which needs to be protected during accidents and unpredicted natural hazards. Digitizing the mining processes may pave the way for hackers to access the network and regulate the operations of the mine. An effective way to protect the on-site data is by using on-site data acquisition systems that help prevent data, as their wireless network of geophysical sensors is concentrated in an area being tracked at the site. Smart mining systems collect and process their data on servers located / near the site, which are only connected to the network. This ensures that hackers are unable to access the system, and thus, provides data security. Therefore, growing security concerns will escalate the demand of smart mining, thereby driving the SAM market growth in coming years.In case of COVID-19, SAM is highly affected especially Brazil, followed by Ecuador, Chile, Peru, and Argentina, among others. Most of the commercial operations in the region have been shut down to prevent the spread of the disease. Lockdowns imposed in cities have compelled most production plant operators to suspend their operation indefinitely, which has led to the discontinuation in the demand for mechanical and electronic parts. Therefore, the COVID-19 pandemic is restraining the smart mining market growth in SAM. However, the mining industry is likely to pick up pace soon after the governments across the 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 SAM smart mining market. The SAM smart mining market is expected to grow at a good CAGR during the forecast period. 
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SAM Smart Mining Market Segmentation
SAM 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
SAM Smart Mining Market – By Mining Type
- Underground Mining
- Surface Mining
SAM Smart Mining Market, by Country
- Brazil
- Argentina
- Rest of SAM
SAM 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
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component and Mining Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Brazil, Argentina
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. SAM Smart Mining Market Landscape
4.1 Market Overview
4.2 SAM PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. SAM Smart Mining Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Need to Keep the Workforce Safe
5.1.2 Ensuring Data Security
5.2 Market Restraints
5.2.1 Stringent Government Regulations
5.3 Market Opportunities
5.3.1 Technological Advancement in Mining Across the Region
5.4 Future Trends
5.4.1 Rapid Adoption of Industrial internet of Things (IIoT) and Artificial Intelligence
5.5 Impact Analysis of Drivers and Restraints
6. Smart Mining Market – SAM Analysis
6.1 SAM Smart Mining Market Overview
6.2 SAM Smart Mining Market –Revenue and Forecast to 2028 (US$ Million)
7. SAM Smart Mining Market Analysis – By Component
7.1 Overview
7.2 SAM 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. SAM Smart Mining Market Analysis– By Mining Type
8.1 Overview
8.2 SAM 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. SAM Smart Mining Market – Country Analysis
9.1 Overview
9.1.1 SAM: Smart Mining Market, by Key Country
9.1.1.1 Brazil: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Brazil: Smart Mining Market, by Component
9.1.1.1.2 Brazil: Smart Mining Market, by Hardware
9.1.1.1.3 Brazil: Smart Mining Market, by Software and Solution
9.1.1.1.4 Brazil: Smart Mining Market, by Mining Type
9.1.1.2 Argentina: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Argentina: Smart Mining Market, by Component
9.1.1.2.2 Argentina: Smart Mining Market, by Hardware
9.1.1.2.3 Argentina: Smart Mining Market, by Software and Solution
9.1.1.2.4 Argentina: Smart Mining Market, by Mining Type
9.1.1.3 Rest of SAM: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Rest of SAM: Smart Mining Market, by Component
9.1.1.3.2 Rest of SAM: Smart Mining Market, by Hardware
9.1.1.3.3 Rest of SAM: Smart Mining Market, by Software and Solution
9.1.1.3.4 Rest of SAM: Smart Mining Market, by Mining Type
10. Impact Of COVID-19 Pandemic on SAM Smart Mining Market
10.1 SAM: 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. SAM Smart Mining Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. Brazil: Smart Mining Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 3. Brazil: Smart Mining Market, by Hardware – Revenue and Forecast to 2028 (US$ Million)
Table 4. Brazil: Smart Mining Market, by Software and Solution – Revenue and Forecast to 2028 (US$ Million)
Table 5. Brazil: Smart Mining Market, by Mining Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. Argentina: Smart Mining Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 7. Argentina: Smart Mining Market, by Hardware – Revenue and Forecast to 2028 (US$ Million)
Table 8. Argentina: Smart Mining Market, by Software and Solution – Revenue and Forecast to 2028 (US$ Million)
Table 9. Argentina: Smart Mining Market, by Mining Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. Rest of SAM: Smart Mining Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 11. Rest of SAM: Smart Mining Market, by Hardware – Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of SAM: Smart Mining Market, by Software and Solution – Revenue and Forecast to 2027 (US$ Million)
Table 13. Rest of SAM: Smart Mining Market, by Mining Type – Revenue and Forecast to 2028 (US$ Million)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. SAM Smart Mining Market Segmentation
Figure 2. SAM Smart Mining Market Segmentation – By Country
Figure 3. SAM Smart Mining Market Overview
Figure 4. Hardware Segment Held the Largest Market Share in 2020
Figure 5. Surface Mining Held the Largest Market Share in 2020
Figure 6. Brazil was the Largest Revenue Contributor in 2020
Figure 7. SAM – PEST Analysis
Figure 8. Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. SAM Smart Mining Market Impact Analysis of Drivers and Restraints
Figure 11. SAM Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. SAM Smart Mining Market Revenue Share, by Component (2020 and 2028)
Figure 13. SAM Hardware: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. SAM RFID Tags: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. SAM Sensors: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. SAM Intelligent System: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. SAM Others: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. SAM Software & Solutions: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. SAM Logistics Software: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. SAM Data and Operation Management: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. SAM Safety and Security Systems: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. SAM Connectivity Solutions: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. SAM Analytics Solutions: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. SAM Remote Management Solutions: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. SAM Asset Management Solutions: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. SAM Services: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. SAM Smart Mining Market Revenue Share, by Mining Type (2020 and 2028)
Figure 28. SAM Underground Mining: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. SAM Surface Mining: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. SAM: Smart Mining Market, by Key Country – Revenue (2020) (USD Million)
Figure 31. SAM: Smart Mining Market Revenue Share, by Key Country (2020 and 2028)
Figure 32. Brazil: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Argentina: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Rest of SAM: Smart Mining Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Impact of COVID-19 Pandemic in SAM Country Markets
- ABB Ltd.
- Caterpillar Inc.
- Hexagon AB
- Hitachi, Ltd.
- Intellisense.io
- MineSense
- Rockwell Automation, Inc.
- SAP SE
- Trimble Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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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