Overview:

Smart mining utilizes advance technologies such as IoT, connected devices, and automation technology to reduce operational cost, enhance safety of humans and individuals, and increase efficiency of the site. Additionally, rising amount data collected from mining sites aids in utilizing those data for analysis and forecasting.

Market Dynamics:

Rising digitalization in the mining industry is a major factor driving growthof the smart mining market. Additionally, rising mining activities in Middle East & Africa Region is another factor fueling growth of the market. Increased focus on safety and health of mine workers as led to rising adoption of monitoring and automated devices For Instance, China has over 5,500 coal mines, generating 7.1 trillion Kwh of electricity. Hence, the companies are now focusing on developing safe, smart, and efficient operating models. This is another factor expected to drive growth of the global market to a significant extent over the forecast period. Moreover, rising data volumes has led to adoption of data analytics tools for gaining insights, visualization, and  recommendation in real time.

Key Trends:

Rising adoption of autonomous vehicles for underground mining activities is a key trend observed in the market. The autonomous vehicles are used for various applications including monitoring, inspection, and debris collection among others. Additionally, major players are developing advance automation haulage system for various activities. For instance, Hitachi is manufacturing centrally operated trucks which are wirelessly connected.

Regional Analysis:

For detailed understanding of market dynamics, the global marketis analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American accounts for the major revenue share in 2018, owing to increasing mining activities in the region coupled with rising adoption of advance technologies. The market in Middle East and Africa is expected to witness considerable growth during the forecast period, owing to presence of major mining site in the region.

Scope of the Report:

Detailed Segmentation:

Global Smart Mining Market, By Solution Type:

• Smart Control System
• Smart Asset Management
• Safety and Security System
• Data Management and Analytics Software
• Monitoring System

Global Smart Mining Market, By Service:

• System Integration
• Consulting
• Engineering and Maintenance

Global Smart Mining Market, ByMining Type:

• Underground Mining
• Surface Mining

Key Players Covered:

Key players operating in the market includes, Cisco Systems Inc., Hitachi Construction Machinery Co., Ltd.), SAP SE, Rockwell Automation Inc., Komatsu Mining Corporation, Symboticware Inc., ABB Ltd, Trimble Inc., IBM Corporation, and Atlas Copco

Key features of the study:

Foresight Market Research provides detailed analysis on Smart Mining Market in our report- Global Smart Mining Market by solution type, service, mining type, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global Smart Mining Market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.