At 7.1% CAGR, Middle East & Africa Smart Mining Market is Projected to be Worth US$ 1,426.81 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa smart mining market was valued at US$ 822.00 million in 2022 and is expected to reach US$ 1,426.81 million by 2030, registering a CAGR of 7.1% from 2022 to 2030. Rising requirement to improve data security and growing need to keep workforce safe are among the critical factors attributed to the Middle East & Africa smart mining market expansion.

The mining area is one of the hazardous places for people to work, and the security of the workers is a crucial issue worldwide. For example, when mines fail, both workers and those around the mines are affected or even lose their lives. For instance, according to the Mine Safety and Health Administration, seven miners died in the first six weeks of 2023 due to an electrocution incident. An overhead power line came in contact with two truck drivers at the mining site. The drivers exited the cabs of their trucks and came in contact with electrical energy. Workers conducting manual readings in remote mining sites are at risk of harming their lives. Smart mining technologies play a crucial role in enhancing workers' safety. Implementing automated mobile assets such as vehicles, wireless gadgets, remote sensors, and real-time data analytics in mining sites reduces the need for an on-site workforce. Automated mobile assets detect gas leaks, monitor ground stability, and assess real-time equipment health. This data helps miners and operators to address safety issues, preventing accidents and fatalities proactively. Remote sensors and real-time data analytics provide a complete view of the mining environment, which, in turn, increases the protection level of the workers. Additionally, automation systems improve safety by reducing the need for workers to be in high-risk areas. Predictive analysis and observations performed by operational intelligence (OI) solutions enable mining operators to anticipate and avoid dangerous accidents. Workforce monitoring, with the help of wireless wearable devices, often facilitates operators to efficiently organize their staff and keep workers away from the risky areas of the mining site.

Smart mining technologies help minimize the threat and damage caused during mining operations. IoT is utilized in mining to add sensors to mining equipment to communicate and monitor the data in real time and keep the workers safer. Sensors can also be attached to the workers' clothing to monitor their health by tracking and transmitting data about their physical health and condition. They can also raise alerts at the time of accidents. Major global mining companies such as Rio Tinto and Boliden are integrating IoT to remotely monitor and control mining operations. Smart mining supports miners to easily and safely handle heavy machines, equipment, vehicles, and devices used in a mine site. Furthermore, the strong commitment to protecting its workforce and adhering to strict safety regulations in the mining industry has accelerated the adoption of smart mining solutions, driving the market.

On the contrary, stringent regulations imposed by governments hampers the growth of Middle East & Africa smart mining market.

Based on component, the Middle East & Africa smart mining market is segmented into automated equipment, hardware component, software solution, and services. The automated equipment segment held 33.6% share of the Middle East & Africa smart mining market in 2022, amassing US$ 276.48 million. It is projected to garner US$ 449.09 million by 2030 to expand at 6.3% CAGR during 2022-2030. 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 is 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 Middle East & Africa smart mining market is bifurcated into underground mining and surface mining. The surface mining segment held 70.8% share of the Middle East & Africa smart mining market in 2022, amassing US$ 581.77 million. It is projected to garner US$ 1,043.01 million by 2030 to expand at 7.6% CAGR during 2022-2030.

Based on country, the Middle East & Africa smart mining market is categorized into the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa. Saudi Arabia held 33.3% share of Middle East & Africa smart mining market in 2022, amassing US$ 273.52 million. It is projected to garner US$ 492.25 million by 2030 to expand at 7.6% CAGR during 2022-2030.

Key players operating in the Middle East & Africa smart mining market are ABB Ltd, Alastri, Caterpillar Inc, Hexagon AB, Hitachi Ltd, MineSense, Rockwell Automation Inc, SAP SE, and Trimble Inc, among others.

• In 2021, Caterpillar's MINExpo 2021 experience celebrated the company's partnership with mines and how it assists customers to Mine more efficiently, effectively, safely, and sustainably. The 5,124-m2 (55,000-ft2) exhibit featured various product displays, new equipment introductions, previews of the future, and remote operating stations.

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