Global Smart Mining Market Growth Rate, Demands, Status And Application Forecast To 2025
Global Smart Mining Market to reach USD 24.05 billion by 2025.
Global Smart Mining Market valued approximately USD 7.9 billion in 2017 is anticipated to grow with a healthy growth rate of more than 14.92% over the forecast period 2018-2025. The major driving factors of global smart mining market are growing focus on safety and health and rise in implementation of autonomous equipment which pumps the demand of smart mining as well as this factors boost up the growth of smart mining across the world. Moreover, rapid adoption of Internet of Things (IoT) is also a driving factor of smart mining across the globe. The major restraining factors of global smart mining market are lack of skilled labor, stringent government regulation and availability of poor infrastructure are negatively impact the smart mining market. Smart mining means the use of information, autonomy, and technology to facilitate high productivity, improved safety, and low operational costs during mining. The major opportunity in the smart mining market is enhancement in digital mining concepts. There are various benefits of smart mining such as Wireless monitoring can be used to create “smart mines” with much lower operational costs, Smart mines with technologies already integrated can more easily automate their operations than those who lag behind on technological adoption, wireless monitoring and predictive maintenance activated through OI solutions allow mining operators to remotely and constantly monitor operational assets, Many components of smart mines, such as wireless embedded sensors and GPS trackers, are both easy to install and easy to maintain and Ensure data security.
The regional analysis of Global Smart Mining Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the dominant player in global smart mining market and projected to continue this trend over the coming years. Asia-Pacific market is experience immense growth due to increased investments by mining companies on automated equipment and intelligent systems. The Asia Pacific Smart Mining Market Size is traced by Europe and North America. North America is anticipated to witness lucrative growth following Asia Pacific.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Hardware Component:
By System & Solutions:
Data & Operation Management software
Safety & Security Systems`
Remote Management solutions
Asset Management Solution
Support & Maintenance
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Cisco Inc., Hitachi Construction CO. Ltd., SAP SE, Rockwell automation, Joy Global Inc., Komatsu Ltd., Symboticware Inc., ABB Ltd., Trimble Navigation Ltd., Caterpillar Inc., Atlas Copco, Outotec Oyj, Alcatel- Lucent, Thingworx, Hexagon AB and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Smart Mining Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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