According to the latest report by IMARC Group, titled “Smart Mining Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the Smart Mining Market to grow at a CAGR of 19% during 2021-2026.
Smart mining represents the automation of the mining process utilizing advanced solutions, including cloud, 3D imaging, modeling software, automated equipment, hardware, etc. It assists in providing real-time visibility of equipment conditions, minimizing downtime, eliminating maintenance costs, reducing operational pressure, etc. As a result, smart mining also ensures data security and long-term maintenance of critical assets, due to which it is gaining traction across the globe.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Smart Mining Market Trends:
As conventional mining practices involve continuous exposure of the workers to ultra-violet (UV) rays, dust, noise, chemicals, etc., which causes severe health problems, there is a rise in demand for smart mining. Moreover, it is integrated with the autonomous fleet, remote-controlled equipment, and ventilation solutions to offer safe working conditions and enhance operational productivity. This, in turn, is acting as another growth-inducing factor. In addition to this, the implementation of novel technologies to ensure better quality production and the increasing adoption of price-cutting schemes in the mining industry are further catalyzing the product demand. Additionally, the growing environmental concerns, continuous technological advancements, and the implementation of stringent regulations by government bodies to control greenhouse gas emissions and air pollution are anticipated to drive the smart mining market in the coming years.
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Smart Mining Market 2021-2026 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
ABB Ltd, Caterpillar Inc, Cisco Systems Inc, Hexagon AB, Hitachi Ltd, Komatsu Ltd, Robert Bosch GmbH, Rockwell Automation Inc, Sandvik AB, SAP SE and Trimble Inc.
The report has segmented the market on the basis on region, disc type, material type and end user.
Breakup by Type:
Underground Mining
Surface Mining
Breakup by Component:
Hardware
Sensors
RFID Tags
Intelligent System
Others
Software
Data and Operation Management Software
Safety and Security Systems
Connectivity Solutions
Analytics Solutions
Remote Management and Logistics Solutions
Asset Management Solutions
Services
Support and Maintenance
System Integration
Consulting Services
Breakup by Automated Equipment:
Excavator
Robotic Truck
Driller and Breaker
Load Haul Dump
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
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Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021- 2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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