The global digital mining market size is anticipated to reach USD 18.11 billion by 2030, registering a CAGR of 9.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising adoption of automation platforms in mining exploration activities is projected to remain a key factor driving the market growth. The mining sector is witnessing a prominent growth owing to increased penetration of digitization for activities including mineral exploration to downstream sales. Moreover, it assists in safety and health and reduces the environmental impact in the sector. Automation and robotics in this sector are likely to offer numerous opportunities owing to the growing replacement of human-controlled machinery with digital hardware-enabled tools.

Komatsu is a leading mining and construction equipment provider and is also known for the development of new and innovative mining platforms. In February 2023, Komatsu partnered with Cummins for optimization of mine maintenance. The companies have developed integrated remote equipment monitoring solutions, which will help improve maintenance execution, reduce unplanned stoppages, and extend component life. The non-ferrous metals segment is expected to register the highest CAGR of 10.1% from 2024 to 2030. Global demand for rechargeable batteries and electric vehicles (EVs) is expected to drive the growth of the non-ferrous mining sector.

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In addition, this sector is witnessing increased spending on digital solutions. For instance, Hindustan Zinc, a leading player in the zinc industry, collaborated with Sandvik to boost its productivity through digitization of operations and activities. Artificial intelligence (AI), blockchain, and digital twins are some of the key technologies that are projected to attract new investments in the market. Recently, MineHub Technologies launched a new IBM blockchain-based platform to improve logistics and operational efficiency and reduce costs in the high-value mineral supply chain.

Digital Mining Market Report Highlights

  • In 2023, the automation & robotics segment had the highest revenue share. The need to improve the safety of workers and increase productivity during mining is expected to benefit market growth
  • The iron and ferroalloys segment accounted for a market share of over 35% in 2023. A rise in the production of steel and related products and growing consumer demand result in increased digital investments in this segment
  • The precious metals segment is projected to register a CAGR of 9.0% from 2024 to 2030. Increasing spending by gold companies on digitization of exploration activities is driving the segment growth
  • Asia Pacific is projected to continue its dominance growing at a CAGR of 10.9% over the forecast period. The expansion of the mining sector and increasing adoption of digital technologies are the key factors driving the regional market growth

Key Digital Mining Company Insights

Some of the key players operating in the market include Caterpillar and Sandvik AB

  • Caterpillar is one of the leading manufacturers of mining equipment, construction equipment, industrial gas turbines, natural gas engines, and diesel locomotives. The company’s headquarters is located in Texas, U.S. The company’s revenue was USD 67.1 billion in 2023
  • Sandvik AB is a provider of solutions and services to different industries, such as Aerospace, Automotive, Energy, Infrastructure, and Mining. The company was founded in 1862 and employs around 41,000 people

Hexagon AB and Metso are some of the emerging market participants.

  • Hexagon AB is a smart solution and service provider to different industries, such as mining, aerospace, automotive, and energy. With respect to mining, the company provides services related to exploration, planning, drill & blast, material movement, and survey & monitoring.

List of Key Players in Digital Mining Market

  • Caterpillar
  • Sandvik AB
  • SAP
  • ABB
  • Rockwell Automation, Inc.
  • GE, Siemens
  • Komatsu Mining Corp.
  • IBM
  • Hexagon AB

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