Smart Mining Market:
The GMI Research expects the smart mining market to expand at a significant rate. From a regional perspective, the Asia-Pacific is projected to lead the market as China is the biggest producer of coal. Moreover, the adoption of smart mining technologies has increased to prevent accidents is a major factor surging the growth of the smart mining market.
Smart Mining Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The global smart mining market is predicted to witness an upsurge in demand during the forecast period due to the application of advanced data analytics to the raw dates to bring virtualizations, insights, and recommendations, which offers rising growth. For example, a vital player of the smart mining market named Dundee Precious Metals has launched wireless network technology into an underground mine. The company used RFID and Wi-Fi technology for identifying the location of equipment and people. Smart mining enterprises have adopted this technology for better efficiency and sustainable growth. According to the smart mining industry overview, the increasing usage of novel mining technologies in the replacement of obsolete mining technologies is further augmenting the growth of the global smart mining market. For example, in 2020, IBM and Shell agreed on a joint venture to introduce a new smart mining platform with collaborating artificial intelligence that aids the mining sector move forward with enhanced safety and health monitoring.
As per smart mining industry forecast, the growing adoption of autonomous equipment for better mining efficiency, which fulfills the demand for today’s mining firms, is another driver propelling the growth of the smart mining market during the forecast period. Smart mining techniques or smart mining technologies is regarded as the safest and environment-friendly method than the traditional mining methods as it offers pollution monitoring to meet the environmental regulations. On the other hand, the unavailability of adequate infrastructure & the high investment cost in the adoption of novel technology will hinder the market’s growth.
Automated Equipment Segment Drivers
Based on the automated equipment, the excavators segment is predicted to increase at a faster rate due to the mining industry has been rapidly opting for several novel technology excavators. For instance, an electric-hydraulic excavator provides various benefits over other equipment, such as electric power, no carbon dioxide emissions, which costs less than diesel, and does not need consumables like filters and oil.
Smart Mining Market’s leading Manufacturers:
- Komatsu Ltd.
- Metso Outotec
- Atlas Copco
- Joy Global
- Rockwell Automation
- ALE International, ALE USA Inc.
Smart Mining Market Segmentation:
Segmentation by Automated Equipment:
- Load Haul Dump
- Drillers & Breakers
- Robotic Truck
Segmentation by Hardware Components:
- RFID Tags
- Intelligent Systems
Segmentation by Software Solutions:
- Logistics Software
- Data and Operation Management Software
- Safety and Security Systems
- Connectivity Solutions
- Analytics Solutions
- Remote Management Solutions
- Asset Management Solutions
Segmentation by Services:
- Support and Maintenance
- System Integration and Implementation Services
- Product Training Services
- Consulting Services
Segmentation by Region:
- North America
- United States of America
- Asia Pacific
- Rest of APAC
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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