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Smart Mining Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

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Global Smart Mining Market: Overview The convergence of information and communications technology (ICT) principles has significantly influenced operations in a number of industries in the past few years. In an intrinsically complex industry like mi
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Smart Mining Market - Global Industry
Analysis, Size, Share, Growth, Trends,
and Forecast 2016 - 2024
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REPORT DESCRIPTION
Global Smart Mining Market: Overview
The convergence of information and communications technology (ICT) principles has significantly influenced
operations in a number of industries in the past few years. In an intrinsically complex industry like mining, where
operations are often based in remote, uncharted and ever riskier areas, the versatility, maintainability, safety, and
reliability offered by technologically advanced operational systems can make a huge difference.
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The cost of extracting minerals and producing energy resources has also continued to rise globally. At the same
time, prices of commodities are declining and mining companies are faced with constricting profit margins and an
increased need for optimizing the performance of mining operations. This has led to an increased demand for
progressively smarter and connected products in the mining industry.
This report outlines the present state of the global smart mining market, presenting resourceful data pertaining
to key technologies in the market, recent technological and product development, and the market’s performance
across key regions. The report also underlines the major factors that are expected to have a significant influence on
the overall development of the global smart mining market over the period 2016 through 2024. These include the
key drivers, challenges, and trends.
Smart Mining Market: Trends and Opportunities
The global smart mining market is projected to gain significant traction over the next few years as mining companies
look for solutions that reduce operational costs, ensure employee safety, and enhance production potential. Recent
technological and product developments in the market have significantly improved automation of mining operations.
This has led to increased adoption of smart mining systems across the world.
The report examines the key components involved in a typical smart mining setup and the various automated
equipment commonly deployed across different types of mines.
The key components used in smart mines fall into three broad categories: hardware, software solutions, and
services. The hardware segment can be sub-segmented into sensors, RFID tags, intelligent systems, and other
hardware products. The numerous software solutions employed for managing various mining operations include
logistics software, data and operation management software, safety and security systems, connectivity solutions,
analytics solutions, remote management solutions, and asset management solutions. The smart mining services
market can be segmented into support and maintenance, system integration and implementation services, product
training services, and consulting services.
The key types of equipment utilized for smart mining operations include automated drillers and breakers, robotic
trucks, load haul dumps, and mining excavators.
Global Smart Mining Market: Region wise Outlook
The global smart mining market has been segmented into five major regions: Asia Pacific, Europe, North America,
and the Rest of the World.
Asia Pacific is the largest market for smart mining, followed by North America. Presence of some of the world’s
biggest mining companies is a major driver of the smart mining market in Asia Pacific. Rising investments by mining
companies for the integration of smart systems and automated equipment in mining operations to enhance
production capabilities is likely to drive the smart mining market in the region during the forecast period.
Smart Mining Market: Competitive Scenario
Major companies operating in the global smart mining market are focused on mergers and acquisitions of smaller
players to enhance their product portfolio and gain a competitive edge. The report offers a detailed overview of the
competitive landscape of the market, wherein it presents exhaustive business profiles and other details concerning
some of the most prominent players in the market. Companies profiled in the report include Atlas Copco, Hitachi
Construction Machinery Co. Ltd., ABB Ltd., Joy Global, Inc., Alcatel-Lucent, Caterpillar, Inc., Outotec Oyj, Cisco
Systems, Inc., and Komatsu Ltd.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights,
historical data, and verifiable projections about market size. The projections featured in the report have
been derived using proven research methodologies and assumptions. By doing so, the research report
serves as a repository of analysis and information for every facet of the market, including but not limited
to: Regional markets, technology, types, and applications.
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Transparency Market Research (TMR) is a market intelligence company providing global business research
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