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A fresh report has been added to the wide database of Market Research Report Search Engine (MRRSE). The research study is titled “Smart Mining Market – Outlook and Growth Stance Forecasted Through 2025” which encloses important data about the production, consumption, revenue and market share, merged with information related to the market scope and product overview.
Rising concerns about mining operation optimization and introduction of Internet of Things (IoT) solutions in mining has resulted in the mining industry beginning explorations in remote locations. Uncertain commodity price environment has put tremendous pressure on demand and supply side of the mining industry. Resource nationalization coupled with declining productivity and increasing operational cost have created a dire need for optimizing mining operations by increasing efficiencies to withstand the regulatory environment. As a consequence, mining companies across the globe have started integrating information and operational technologies to improve performance. Smart mining solutions and technologies are enabling mining companies to maximize commercial outcomes through optimizing several processes, improving safety, and removing redundant processes through data integration and seamless communication using the Internet of Things (IoT). With this background, the global smart mining market is estimated to be worth US$16.25 bn by the end of 2025 from US$6.80 bn in 2016. During the forecast years of 2017 and 2025, the overall market is estimated to register a CAGR of 10.2%.
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The high-level analysis in the report provides detailed insights into the smart mining business globally. There are currently numerous drivers of the market. The most prominent drivers include the rising concerns about mining operation optimization and the introduction of Internet of Things (IoT) solutions in mining. As the ore grade falls, mining companies are forced to explore reserves at remote locations which has been made possible using information and communication technology. Market attractiveness analysis was carried out for the smart mining market on the basis of geography. Market attractiveness was estimated on the basis of common parameters that directly impact the market in different regions.
The smart mining market was segmented on the basis of automated equipment (excavators, load haul dump, drillers & breakers, robotic truck, and other automated equipment), hardware component (sensors, RFID tags, intelligent systems, and others), software solution (logistics software, data and operation management software, safety and security systems, connectivity solutions, analytics solutions, remote management solutions, and asset management solutions), services (support and maintenance, system integration and implementation services, Automated Equipment training services, and consulting services) and geography. The smart mining market has been segmented into five regions: North America, Asia Pacific, Europe, South and Central America, and Middle East and Africa. Regional data has been provided for each sub-segment of the smart mining market.
Global Smart Mining Market: Competitive Landscape
Key players in the smart mining market include Rockwell Automation, Inc., SAP SE, Trimble Navigation Limited, HEXAGON, STONE THREE MINING PTY LTD, SYMBOTICWARE INC., Alastri, IntelliSense.io, ABB Ltd., Atlas Copco, Caterpillar Inc., Hitachi Construction Machinery Co., Ltd., Joy Global Inc., Komatsu Ltd., Sandvik AB, Cisco Systems, Inc., and Alcatel-Lucent. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments
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Smart Mining Market: By Automated Equipment
Excavators
Load Haul Dump
Drillers & Breakers
Robotic Truck
Other Automated Equipment
Smart Mining Market: By Hardware Component
Sensors
RFID Tags
Intelligent Systems
Others
Smart Mining Market: By Software Solutions
Logistics Software
Data And Operation Management Software
Safety And Security Systems
Connectivity Solutions
Analytics Solutions
Remote Management Solutions
Asset Management Solutions
Smart Mining Market: By Services
Support And Maintenance
System Integration And Implementation Services
Automated Equipment Training Services
Consulting Services
Smart Mining Market: By Region
North America
U.S.
Canada
Europe
Germany
France
Rest of Europe
Asia Pacific
China
India
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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This release was published on openPR.