Smart Mining Market is expected to reach US$ XX Mn by 2027 in terms of value with CAGR of XX% in the forecast period 2019-2027.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Smart mining, also known as telerobotic mining, includes remote-controlled robotic machinery for reducing the risk for miners and improving mineral extraction. Smart mining refers to the excellent use of technology, to achieve higher safety and productivity with minimal costs, within the mines. Mining companies have focused on improving productivity by offering innovative software & solutions. Earlier, the mining industry is moving in the direction of a more rapid, nontoxic, and much more precise manufacturing practices.
Increasing focus on safety & health, rapid adoption of IoT (internet of things) solutions, and rise in the adoption of autonomous equipment drive the market growth. Uncertain commodity price environment has put massive pressure on demand and supply side of the mining industry. Using IoT and Other smart devices, connected mining provides better operations management. Increased investments in smart technologies and fast adoption is helping the industry to grow.
Smart Mining Market can be segmented into automated equipment, hardware component, system & solution, services, and region. Based on automated equipment, the automated excavators’ segment held the largest share of around 30% of the smart mining market in 2017. On the basis of the hardware component, amongst the hardware components, the Intelligent Electronics Systems dominated the major share of the global Smart Mining Market. In terms of system & solution, Data and Operation Management Software held the largest share of the global Smart Mining Market Size. By services, the Support and Maintenance services accounted for the major share of the global Smart Mining Market Size.
On the basis of region, Asia Pacific dominated the major share of the global Smart Mining Market. North America is anticipated to witness productive growth following the Asia Pacific. A substantial growth from India, Australia, and China. The rising number of mining activities are projected to inspiring the growth of the Asia Pacific smart mining market in the next few years.
The key players in Smart Mining Market are ABB Group, Rockwell Automation, Inc., Komatsu Ltd., Trimble Navigation Limited, Alastri, Caterpillar, Inc., Hitachi Construction Machinery Co., Ltd., Joy Global, Inc., Cisco Systems, Inc., and Hexagon AB.
The objective of the report is to present comprehensive Smart Mining Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Smart Mining Market dynamics, structure by analyzing the market segments, and project the Smart Mining Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Smart Mining Market make the report investor’s guide.
Smart Mining Market Scope
Smart Mining Market By Automated Equipment
• Load Haul Dump
• Drillers and Breakers
• Robotic Truck
Smart Mining Market By Hardware Component
• RFID tags
• Intelligent Systems
System & Solution
• Logistics Software
• Data & Operation Management Software
• Safety & Security Systems
• Connectivity Solutions
• Analytics Solutions
• Remote Management Solutions
• Asset Management Solutions
• Support & Maintenance
• System Integration
• Consulting Services
Smart Mining Market By Geography
• North America
• Middle East & Africa
• Latin America
Key Players operating in the market
• ABB Group
• Rockwell Automation
• Komatsu Ltd.
• Trimble Navigation Limited
• Hitachi Construction Machinery Co.
• Joy Global Inc.
• Cisco Systems
• Hexagon A
• SAP SE
• Stone Three Mining Pty Ltd.
• Symboticware Inc.
• Atlas Copco.
• Sandvik AB
• Outotec Oyj
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