Europe Smart Mining Market Forecast to 2030 - Regional Analysis - by Component (Automated Equipment, Hardware Component, Software Solution, and Services) and Mining Type (Underground Mining and Surface Mining)
The Europe smart mining market was valued at US$ 2,675.82 million in 2022 and is expected to reach US$ 5,992.59 million by 2030; it is estimated to register a CAGR of 10.6% from 2022 to 2030.
Rising Requirement to Improve Data Security Drives Europe Smart Mining Market
Data sources in the mining industry can be classified into two parts: direct or indirect (ancillary) measurements. Direct measurement are performed by several instruments such as GPS and conventional geodetic surveys. Indirect measurements is performed by using a system that collect data as a by-product of operations or processes such as Fleet Management Systems, SCADA or DCS data, blast hole drills, and geomodelling data. For improving ore recovery, an ore body modeling technique is used. The model provides geological patterns that help in determining the drill holes. The right mining decisions, therefore, depend 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 long queuing time of trucks and LHDs, unscheduled truck maintenance delays, and delays in lab samples undergoing quality control and batch processing. Mining companies usually have confidential data that must be protected during accidents and unpredicted natural hazards. Moreover, the growing adoption of complex technologies requires companies to update their systems for better operational results. In August 2023, Freeport-McMoRan started investigating cybersecurity incidents affecting its information systems. The company plans to update its cybersecurity system to prioritize safety and improve production. The growing frequency and complexity of cyberattacks make mining value chains vulnerable to attack. Cyberattacks in the mining industry are stealing important data about exploration stages, such as geological data, mapping of economically exploitable mineral deposits, and surveys, which increases the adoption of cybersecurity platforms to protect itself from these attacks. In December 2022, Copper Mountain Mining faced a ransomware attack that affected IT systems, which shut down the company's production and forced them to reschedule its planned shipping deliveries. To protect themselves against targeted attacks, mining companies need chip-based security to protect their mission-critical servers and IoT devices that collect significant mining data. However, digitizing the mining processes may pave the way for hackers to access the network and regulate the operations of the mine.
Europe Smart Mining Market Overview
The market in Europe is segmented into Germany, France, the UK, Italy, and the Rest of Europe. The European mining industry excels in developing and implementing smart mining processes, enabling sustainable extraction and ore processing under technically and economically viable conditions, and meeting stringent environmental standards. Such factors contribute to market growth. The European smart mining industry is considered one of the most innovative mining sectors. High-level smart mining technologies support mining extraction, exploration, and beneficiation. The mining industry also promotes environmental, health, and safety protection advancements. Europe's industrial minerals and metal consumption has increased in the past few years. Europe produces a large number of industrial minerals and aggregates. However, it is one of the net importers of most metals and metal ores. The extraction and supply of minerals in Europe continue to play a crucial role in the European economy. Minerals are used daily as construction materials (sand, crushed rock, and gravel) for buildings, infrastructure, and roads, and for industrial purposes (e.g., kaolin, silica sand, metals, lime, and talc) in the production of steel, computers, medicines, and animal foodstuffs and fertilizers, among others. Europe relies on importing many of its mineral and metal needs.
Europe has several underground mines, including Kiruna Mine, Verbundwerk Hattorf Wintershall Mine, Malmberget Mine, Polkowice-Sieroszowice Mine, Bogdanka Mine, Rudna Mine, Lubin Mine, and Borynia-Zofiowka Mine. Therefore, several underground mines are increasing the demand for smart mining, as the mines requires the innovative technologies regarding mining. This boosts the smart mining market growth.
Europe Smart Mining Market Revenue and Forecast to 2030 (US$ Million)
Europe Smart Mining Market Segmentation
The Europe smart mining market is segmented based on component, mining type, and country.
Based on component, the Europe smart mining market is segmented into automated equipment, hardware component, software solution, and services. The automated equipment segment held the largest Europe smart mining market share in 2022. The automated segment is further subsegmented into load haul dump, robotic truck, driller & breaker, excavator, and other automated equipment. The hardware component is further subsegmented into RFID tags, sensors, intelligent system, and others. The software solutions are further subsegmented into logistics software and solutions, data & operation management software and solutions, safety & security systems, connectivity solutions, analytics solutions, remote management solutions, and asset management solutions.
In terms of mining type, the Europe smart mining market is bifurcated into underground mining and surface mining. The surface mining segment held a larger Europe smart mining market share in 2022.
Based on country, the Europe smart mining market is categorized into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Rest of Europe dominated the Europe smart mining market in 2022.
ABB Ltd, Alastri, Caterpillar Inc, Intellisense io, Hexagon AB, Hitachi Ltd, MineSense, Rockwell Automation Inc, SAP SE, and Trimble Inc are some of the leading companies operating in the Europe smart mining market.
Table of Content
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Smart Mining Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 Hardware and Software Solutions providers:
4.2.2 System Integrator Service Provider:
4.2.3 End User
4.2.4 List of Vendors in Value Chain
5. Europe Smart Mining Market - Key Industry Dynamics
5.1 Drivers
5.1.1 Growing Need to Keep Workforce Safe
5.1.2 Rising Requirement to Improve Data Security
5.1.3 Increasing Mining Projects
5.2 Market Restraints
5.2.1 Stringent Regulations Imposed by Governments
5.3 Market Opportunities
5.3.1 Adoption of Automated Mining Equipment
5.4 Future Trends
5.4.1 Introduction of Industrial Internet of Things (IIoT)
5.5 Impact of Drivers and Restraints:
6. Smart Mining Market - Europe Market Analysis
6.1 Europe Smart Mining Market Revenue (US$ Million), 2022 - 2030
7. Europe Smart Mining Market Analysis - Component
7.1 Automated Equipment
7.1.1 Overview
7.1.2 Automated Equipment: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.1.2.1 Load Haul Dump: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.1.2.2 Robotic Truck: Europe smart mining market Revenue and Forecasts to 2030 (US$ Million)
7.1.2.3 Driller & Breaker: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.1.2.4 Excavator: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.1.2.5 Other Automated Equipment: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.2 Hardware Component
7.2.1 Overview
7.2.2 Hardware Component: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.2.2.1 RFID Tags
7.2.2.1.1 Overview
7.2.2.1.2 RFID Tags: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.2.2.2 Sensors
7.2.2.2.1 Overview
7.2.2.2.2 Sensors: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.2.2.3 Intelligent System
7.2.2.3.1 Overview
7.2.2.3.2 Intelligent System: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.2.2.4 Others
7.2.2.4.1 Overview
7.2.2.4.2 Others: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.3 Software Solution
7.3.1 Overview
7.3.2 Software Solution: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.3.2.1 Logistics Software and Solutions: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.3.2.1.1 Overview
7.3.2.1.2 Logistics Software and Solutions: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.3.2.2 Data & Operation Management Software and Solutions: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.3.2.2.1 Overview
7.3.2.2.2 Data & Operation Management Software and Solutions: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.3.2.3 Safety & Security Systems : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.3.2.3.1 Overview
7.3.2.3.2 Safety & Security Systems : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.3.2.4 Connectivity Solutions : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.3.2.4.1 Overview
7.3.2.4.2 Connectivity Solutions : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.3.2.5 Analytics Solutions : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.3.2.5.1 Overview
7.3.2.5.2 Analytics Solutions : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.3.2.6 Remote Management Solutions : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.3.2.6.1 Overview
7.3.2.6.2 Remote Management Solutions : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.3.2.7 Asset Management Solutions : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.3.2.7.1 Overview
7.3.2.7.2 Asset Management Solutions : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
8. Europe Smart Mining Market Analysis - Mining Type
8.1 Underground Mining
8.1.1 Overview
8.1.2 Underground Mining: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
8.2 Surface Mining
8.2.1 Overview
8.2.2 Surface Mining : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
9. Europe Smart Mining Market - Country Analysis
9.1 Europe
9.1.1 Europe Smart Mining Market Revenue and Forecasts and Analysis - By Countries
9.1.1.1 Germany Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.1.1 Germany Smart Mining Market Breakdown by Component
9.1.1.1.2 Germany Smart Mining Market Breakdown by Mining Type
9.1.1.2 France Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.2.1 France Smart Mining Market Breakdown by Component
9.1.1.2.2 France Smart Mining Market Breakdown by Mining Type
9.1.1.3 Italy Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.3.1 Italy Smart Mining Market Breakdown by Component
9.1.1.3.2 Italy Smart Mining Market Breakdown by Mining Type
9.1.1.4 UK Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.4.1 UK Smart Mining Market Breakdown by Component
9.1.1.4.2 UK Smart Mining Market Breakdown by Mining Type
9.1.1.5 Russia Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.5.1 Russia Smart Mining Market Breakdown by Component
9.1.1.5.2 Russia Smart Mining Market Breakdown by Mining Type
9.1.1.6 Rest of Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.6.1 Rest of Europe Smart Mining Market Breakdown by Component
9.1.1.6.2 Rest of Europe Smart Mining Market Breakdown by Mining Type
10. Smart Mining Market Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Product Development
10.4 Merger and Acquisition
11. Company Profiles
11.1 ABB Ltd
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Alastri
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Caterpillar Inc
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Intellisense.io
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Hexagon AB
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Hitachi Ltd
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 MineSense
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Rockwell Automation Inc
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 SAP SE
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Trimble Inc
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
List of Tables
Table 1. Europe Smart Mining Market Segmentation
Table 2. Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million) - Component
Table 3. Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million) - Automated Equipment
Table 4. Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million) -Hardware Component
Table 5. Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million) -Software Solution
Table 6. Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million) - Mining Type
Table 7. Europe Smart Mining Market, by Country - Revenue and Forecast to 2030 (USD Million)
Table 8. Germany Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Component
Table 9. Germany Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Automated Equipment
Table 10. Germany Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Hardware Component
Table 11. Germany Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Software Solution
Table 12. Germany Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Mining Type
Table 13. France Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Component
Table 14. France Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Automated Equipment
Table 15. France Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Hardware Component
Table 16. France Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Software Solution
Table 17. France Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Mining Type
Table 18. Italy Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Component
Table 19. Italy Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Automated Equipment
Table 20. Italy Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Hardware Component
Table 21. Italy Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Software Solution
Table 22. Italy Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Mining Type
Table 23. UK Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Component
Table 24. UK Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Automated Equipment
Table 25. UK Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Hardware Component
Table 26. UK Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Software Solution
Table 27. UK Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Mining Type
Table 28. Russia Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Component
Table 29. Russia Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Automated Equipment
Table 30. Russia Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Hardware Component
Table 31. Russia Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Software Solution
Table 32. Russia Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Mining Type
Table 33. Rest of Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Component
Table 34. Rest of Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Automated Equipment
Table 35. Rest of Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Hardware Component
Table 36. Rest of Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Software Solution
Table 37. Rest of Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn) - By Mining Type
Table 38. List of Abbreviation
List of Figures
Figure 1. Europe Smart Mining Market Segmentation, By Country
Figure 2. Ecosystem: Europe Smart Mining Market
Figure 3. Europe Smart Mining Market - Key Industry Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Europe Smart Mining Market Revenue (US$ Million), 2022 - 2030
Figure 6. Europe Smart Mining Market Share (%) - Component, 2022 and 2030
Figure 7. Automated Equipment: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Load Haul Dump: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Robotic Truck: Europe smart mining market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Driller & Breaker: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Excavator: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Other Automated Equipment: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Hardware Component: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. RFID Tag : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Sensors: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Intelligent System: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Others: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Software Solution: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Logistics Software and Solutions: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. Data & Operation Management Software and Solutions: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 21. Safety & Security Systems : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 22. Connectivity Solutions : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 23. Analytics Solutions : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 24. Remote Management Solutions : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 25. Asset Management Solutions : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 26. Services : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 27. Europe Smart Mining Market Share (%) - Mining Type, 2022 and 2030
Figure 28. Underground Mining: Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 29. Surface Mining : Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Million)
Figure 30. Europe Smart Mining Market Breakdown by Key Countries, 2022 (US$ Mn)
Figure 31. smart mining market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 32. Germany Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 33. France Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 34. Italy Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 35. UK Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 36. Russia Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 37. Rest of Europe Smart Mining Market Revenue and Forecasts to 2030 (US$ Mn)
1. ABB Ltd
2. Alastri
3. Caterpillar Inc
4. Intellisense.io
5. Hexagon AB
6. Hitachi Ltd
7. MineSense
8. Rockwell Automation Inc
9. SAP SE
10. Trimble Inc
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe smart mining market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in Europe smart mining market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the smart mining market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.