Internet of Things (IoT) in Mining – Thematic Intelligence
All the vital news, analysis, and commentary curated by our industry experts.
IoT in Mining Theme Analysis Report Overview
The mining IoT market was valued at $3.7 billion in 2022 and is expected to grow at a CAGR of more than 16% between 2022 and 2027. In an industry known for its complex and hazardous operations, IoT solutions enable mining companies to automate workflows, improve efficiency while reducing costs, and improve safety and environmental, social, and governance (ESG) credentials across the whole value chain. IoT supports mining operations such as autonomous drilling, driverless haul trucks, health and safety monitoring, energy management, and environmental monitoring. IoT technologies enabling these mining operations include drones, wearable tech, proximity detection sensors, and autonomous trucks.
The IoT in mining report will help you to understand IoT and its potential impact on the mining sector. The report will also help you benchmark your company against your competitors and assess how mining companies are utilizing IoT to drive revenues.
|Market Size (2022)||$3.7 billion|
|Key Value Chain Components||Physical Layer
|Key Leading IoT Adopters in Mining||Anglo American
|Key Specialist IoT Vendors in Mining||ABB
|Enquire & Decide||Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase.|
Buy the Full Report for Additional Insights on the IoT in Mining Thematic Report
IoT Impact on Mining
IoT technology is deployed across the whole mining value chain, from prospecting to reclamation. Its spread has been encouraged by reduced latency, increased computing power, and the falling price of sensors, which have led to a faster ROI. IoT solutions enable mining companies to automate workflows, improve efficiency while reducing costs, and improve safety and ESG credentials. IoT technologies enabling mining operations include drones, wearable tech, proximity detection sensors, and autonomous trucks. Also, AI has increased relevance across all IoT layers, and a growing number of products and services incorporate this disruptive technology into their capabilities, especially for predictive maintenance and digital twin modeling.
Buy the Full Report for Impact Analysis of the IoT in Mining Report
IoT Value Chain Analysis
The key layers in the IoT value chain are physical, connectivity, data, apps, and services. While these layers are logically discrete, large-scale IoT solutions are seeing considerable blurring of these logical boundaries. For example, while there will continue to be an identifiable data layer towards the top of the stack, a growing proportion of the data processing occurs within and at the edge of the network. The accelerated development of generative AI, particularly ChatGPT, has increased the relevance of AI across all IoT layers. Therefore, a growing number of IoT products and services incorporate AI into their capabilities, especially across customer-driven interfaces.
Physical Layer: The makers of connected things, including sensors, embedded chips, and their components comprise this layer. Connected things can include connected cars, smart thermostats, fitness bands, smart light bulbs, or a parcel in a delivery truck. The essential electronic components include microcontroller units (MCUs), central processing units (CPUs), AI chips, communications chips, and sensors. Despite the geopolitical issues impacting the production and delivery of advanced chips, leaders in this space include Amazon, Apple, and Huawei.
IoT Value Chain Analysis
Buy the Full Report for Value Chain Analysis of the IoT in Mining Report
IoT in Mining Industry Analysis
The mining IoT market was valued at $3.7 billion in 2022 and is expected to grow at a CAGR of more than 16% between 2022 and 2027. IoT enables real-time monitoring and control of mining operations. Therefore, it has become a vital technology for the mining industry. In an industry known for its complex and hazardous operations, IoT provides data on equipment status, safety hazards, and environmental factors, thus improving operational efficiency, safety, and sustainability.
The IoT in mining industry analysis also covers signals including –
- Mergers and acquisitions
- Patent trends
- Company filing trends
- Hiring trends
IoT in Mining Revenue, 2019-2027
Buy the Full Report for IoT in Mining Industry Forecasts
IoT in Mining – Competitive Landscape
Leading IoT Adopters in Mining: Some of the leading IoT adopters in mining are Anglo American, BHP, and Boliden among others.
Specialist IoT Vendors in Mining: ABB, Caterpillar, and Cisco are some of the specialist IoT vendors in the mining sector.
Buy the Full Report for More Information about the IoT in Mining Industry Players
Mining Sector Scorecard
The mining sector scorecard approach predicts tomorrow’s leading companies within each sector using three screens including a thematic screen, a valuation screen, and a risk screen.
The thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance. The valuation screen ranks our universe of companies within a sector based on selected valuation metrics. The risk screen ranks companies within a particular sector based on overall investment risks.
Mining Sector Scorecard
Buy the Full Report for More Information about the Mining Sector Scorecard
- This report provides an overview of the IoT theme. The detailed value chain comprises five layers: physical, connectivity, data, apps, and services. Leading and challenging vendors are identified across both segments.
- It identifies mining challenges, such as ESG, safety, productivity, and resource development, and an impact assessment of IoT on the mining industry, addressing these challenges.
- Several case studies are included to analyze the multiple ways countries and companies have responded to the impact of this theme’s growth and what they are doing to grow with this theme.
IoT technology is deployed across the whole mining value chain, from prospecting to reclamation. Its spread has been encouraged by reduced latency, increased computing power, and the falling price of sensors, which have led to a faster ROI.
IoT solutions enable mining companies to automate workflows, improve efficiency while reducing costs, and improve safety and ESG credentials. IoT supports mining operations such as autonomous drilling, driverless haul trucks, health and safety monitoring, energy management, and environmental monitoring. IoT technologies enabling mining operations include drones, wearable tech, proximity detection sensors, and autonomous trucks.
Also, AI has increased relevance across all IoT layers, and a growing number of products and services incorporate this disruptive technology into their capabilities, especially for predictive maintenance and digital twin modeling.
Autonomous mining represents the future, with mining companies of all tiers investing in it. However, it will likely remain primarily accessible to larger players due to the financial commitments involved.
Reasons to Buy
- This report will help you to understand IoT and its potential impact on the mining sector.
- Benchmark your company against your competitors and assess how mining companies are utilizing IoT to drive revenues.
- Identify attractive investment targets by understanding which companies are most advanced in the themes that will determine future success in the mining industry.
- Understand key industry challenges and where IoT use cases are most useful.
- Develop and design your corporate strategies through an in-house expert analysis of IoT by understanding the primary ways in which this theme is impacting the mining industry.
- Position yourself for future success by investing in the right IoT technologies.
Table of Contents
- 1. Executive Summary
- 2. Players
- 3. Mining Challenges
- 4. The Impact of IoT on Mining
- 5. Case Studies
- 6. Market Size and Growth Forecasts
- 7. Signals
- 7.1. Mergers and acquisitions
- 7.2. Patent trends
- 7.3. Company filing trends
- 7.4. Hiring trends
- 8. IoT Value Chain
- 8.1. Physical layer
- 8.2. Connectivity layer
- 8.3. Data layer
- 8.4. App layer
- 8.5. Services layer
- 9. Companies
- 9.1. Leading IoT adopters in mining
- 9.2. Specialist IoT vendors in mining
- 10. Sector Scorecard
- 10.1. Mining sector scorecard
- 11. Glossary
- 12. Further Reading
- 13. Our Thematic Research Methodology
- 14. About GlobalData
- 15. Contact Us
Frequently asked questions
What was the IoT market size in mining in 2022?
The mining IoT market was valued at $3.7 billion in 2022.
What will be the growth rate of mining spending on IoT products between 2022 and 2027?
The mining IoT market is expected to grow at a CAGR of more than 16% between 2022 and 2027.
Which are the key value chain components of the IoT market?
The key layers in the IoT value chain are physical, connectivity, data, apps, and services.
Who are the leading IoT adopters in mining?
Some of the leading IoT adopters in mining are Anglo American, BHP, and Boliden among others.
Who are the leading IoT adopters in mining?
ABB, Caterpillar, and Cisco are some of the specialist IoT vendors in the mining sector.
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.
Business Intelligence & Marketing Manager, SAL Heavy Lift
“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.
GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”
Market Analyst & Management, Liebherr-Werk
“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”
Head of Key Accounts, Saab AB
Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.
Marketing Intelligence Manager, Portugal Foods
Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.
Head of Customer Insight and Research, Standard Chartered
Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.
I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.
I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.
Head of Consumer Sensory Insights, Givaudan
“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.
Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”
Senior Account Manager, TSYS
GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise. The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.
I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.
One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.