According to study, “Global Smart Mining Market Size study, by Hardware Component (Sensors, RFID Tags, Intelligent Systems), by Systems and Solutions (Logistics Software, Data & Operation Management software, Safety & Security Systems, Connectivity Solutions, Analytics Solution, Remote Management solutions, Asset Management Solution), by Service (support & Maintenance, System Integration, Consulting services) and Regional Forecasts 2018-2025” some of the major companies that are currently working in the global smart mining market are Cisco System Inc., Rockwell automation, Hitachi Construction Machinery CO. Ltd., Komatsu Mining Corporation (Joy Global), SAP SE, Alcatel-Lucent Company, Symbotic ware Inc., Joy Global Inc., IBM Corp., Trimble Navigation Ltd., ABB Ltd., Stone Three Mining Pte Ltd., Wenco International Mining Systems Ltd., Atlas Copco, Joey Global Inc., Caterpillar Inc., Intellisense IO, Alcatel- Lucent, Hexagon AB, Outotec Oyj, Thingworx.
Smart Mining refers to the incorporation or integration of Information and Communications technology (ICT) solutions to the entire supply chain of the mining production. It adds to the connectivity between the employees, managers, and experts in order to allow optimum production with the criteria retrieving the smallest amount or no wastes at any stage smart friendly landscape. Smart mining provides use of information, technology and autonomy to facilitate high productivity, low operational costs and improved safety during mining. Some of the major components use of smart mines techniques include GPS trackers, wireless embedded sensors, easy to install with ease to maintaining a data security.
Based on mining type, the global smart mining market includes surface mining and underground mining. The surface mining includes open pit mining or open cast mining. Based on automated equipment is segmented into drillers & breakers, load haul dump, excavators, robotic truck and other automated equipment. Based on hardware component market is segmented into RFID tags, sensors, intelligent systems and others. Based on software solutions include connectivity solutions, remote management solutions, analytics solutions, logistics software, safety & security systems, asset management solutions and data & operation management software etc. Based on the services, market segmented into automated equipment training services, support & maintenance, consulting services and system integration & implementation services etc.
The global smart mining is mainly driven by rise in implementation of autonomous equipment. Some of the other driving factors include focus on safety & health, incorporation of latest technologies, rapid adoption of Internet of Things (IoT), empowers effectual connectivity among miners, optimum product output, and initiatives toward plant automation. Apart from benefits some of the factors impacting the market growth include availability of poor infrastructure, lack of awareness about technologies in developing economies, stringent government regulation and lack of skilled labor are negatively impact the market. In addition, some the key opportunities associated with market augmentation include investment in rich mining infrastructure, enhancement in digital mining concepts and plant automation.
Asia-Pacific is the leading region for the global smart mining market and expected to continue the development in the coming years. The region is expected to experience huge growth owing to the increased investments from the mining vendors for the automated equipment & intelligent systems. In addition, North American region is likely to witness productive growth. In a near future, it is estimated that the market to grow rapid pace due to the investments towards better mining infrastructure demand.
For more information on the research report, refer to below link:
Global Smart Mining Market Research
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