Smart Mining Market: Enabled Competitive Edge with Real Time Decision Making
Smart Mining Industry Report offers detailed analysis of the market over the last
five years, and provides extensive market forecasts by region and key players.
It covers the key technological and market trends.
Market Overview:
Smart mining refers to maximization of computational
technological application, instruments of measurement, communication, remote operation,
serving the tasks of entire value chain from the deposit to the shipment. The
homogenization of industrial automation in mining operational field increases
and improves operational efficiency, cost control, product quality, safety and
environment, and predictive maintenance.
Smart mining is also known as telerobotic mining,
comprises of remote-controlled robotic machinery for decreasing risks involved
for miners and improving mineral extraction. Smart mining has been expected to
operate in an integrated way through the construction and proper use of
phenomenological and economic models optimizing the entire operation in
globally. The technology is widely used in steel mining, coal mining, non-metal
mining, and gold mining.
Smart mining offers vertically and horizontally
integrated dynamic planning, proactive and predictive approaches, and fully
automated operations & predictive maintenance, transforming mining into
mainstream business. Smart mining solution operates on ‘platform’ approach comprises
of the architectural and digital components in mining businesses. The solution
works on high latency and criticality of data, including safety and financial
considerations with the help of cloud data for mining production.
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Market Growth and
Analysis:
Reduced direct cost from assets and operations, enabled
competitive edge with real time decision making are the major trends paving
opportunities for the market expansion. Moreover, facilitating faster response
with mobility, and minimizing waste using Lean principles are other key factors
spurring the growth over the forecast period. Furthermore, rapid technological
advancement is expected to influence mining operations owing to IoT adoption in
mining equipment and vehicles. Miners are employing advanced tools for
predictive maintenance, and for increasing operational efficiency and reduced
downtime. IoT implementation in for operational efficiency, reduce downtime,
scheduling & predicting maintenance is projected to play a key role in
global adoption.
Additionally, Investment in simulation technology,
growing use of 3d imaging, and implementation of remote monitoring systems are
also few other factors anticipated to augment the demand for smart mining
market over the forecast period. However, strict government regulations
regarding air, water, & environment coupled with poor infrastructure may
hinder the market growth.
Major Key Players:
Prominent players operating in the smart mining have
adopted several growth strategies to sustain the market competition. Key
players operating in the global smart mining market includes SAP SE, Trimble
Navigation Limited, Rockwell Automation, Inc.,
HEXAGON, STONE THREE MINING PTY LTD, Alastri, IntelliSense.io, ABB Ltd.,
SYMBOTICWARE Inc., Atlas Copco, Caterpillar Inc., Cisco Systems, Inc., Joy
Global Inc., Komatsu Ltd., Hitachi Construction Machinery Co., Ltd., Sandvik AB, and Alcatel-Lucent.
Market
Segmentation:
The global smart mining market is segmented on the basis
of automated equipment, software solutions, hardware component, services, and
geography. Based on automated equipment, the market has been segregated as
excavators, drillers and breakers load haul dump, and robotic truck. Hardware
component segment comprises of sensors, RFID tags, and intelligent systems. The
automated excavators segment has been expected to hold the largest share.
Intelligent electronic systems for smart mining have been anticipated to
acquire the major share of the smart mining market.
On the basis of software solution, global smart mining
market has been bifurcated as logistics software, data and operation management
software, safety and security systems, connectivity solutions, analytics
solutions, remote management solutions and asset management solutions. Services
segment has been further segmented as support and maintenance, system
integration and implementation services, product training services, and
consulting services.
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Regional Analysis:
Asia Pacific region has been predicted to dominate the
major share of the global smart mining market followed by Europe and North America.
Growing investments in smart mining technologies and rapid adoption are
boosting the industry growth in the region. On the other hand, technological
complexity and skilled personnel requirement for system maintenance may hamper
the regional growth.
Major Points from
Table of content:
• Executive
Summary
• Research
Methodology
• Market
Dynamics
• Industry
Overview
• Global
Smart Mining Market, By Product (2017-2025)
• Global
Smart Mining Market, By Regions (2017-2025)
• Market
Competition Analysis
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