A recent report by Transparency Market Research on global smart mining solutions market states that the market shall witness a substantial growth in the duration of 2019 to 2027. The report states that growth in the technological developments in the mining sector is the major reason that boosts the growth of the global smart mining solutions market. Additionally, growing concerns towards the security of the miners, several mine owners are implementing smart mining solutions, this is yet again another reason for the growth of global smart mining solutions market from 2019 to 2027, says the report.
The Market to Witness US$ 22 Bn with 11.5% CAGR
Based on the extensive use of the smart mining solutions across the globe, the smart miming solution market shall witness a substantial 11.5% CAGR from 2019 to 2027. This is because of the awareness of the advantages and benefits that these solutions offer to the miners. These solutions are equipped with latest technologies like IoT, Artificial Intelligence and various other proximity solutions. As a result, mine owners can have real-time information about their assets including human resources. These benefits are major reasons that are responsible for the growth of global smart mining solutions market from 2019 to 2027.
The experts at Transparency Market Research predicts that the market shall reach to the value of US$ 22 bn by the end of 2027. They also state the market stood at US$ 8.3 bn during 2018 implying the players have a huge potential in the projected tenure.
Need for Optimization and Automation Drives the Growth
In the era of Industry 4.0, every business process is getting equipped with technologies like IoT and automation. These technologies reduces human intervention resulting in better outcomes. Mining industry is also adopting the same trend and is progressively adopting these technologies. Moreover, these technologies can easily optimize the process of mining increasing the profit margin for the businesses. As a result of these advantages and growing need of optimization and automation, the global smart mining solution is growing rapidly from 2019 to 2027.
Asia Pacific Continues to Dominate
Growing industrialization in countries like India and China has resulted in the number of mines these countries. Consequently, the technological companies are designing and developing smart mining solutions keeping the landscape and topography of the mine in mind. Based on these developments, the Asia Pacific dominates the geographical segment of the global smart mining solution market during the tenure of 2019 to 2027. Moreover, growing demand and availability of the minerals in these countries is also a crucial factor responsible for dominance of Asia Pacific in global smart miming solution market from 2019 to 2027.
The global smart mining solution market is segmented on the basis of:
- Automated Equipment
- Load Haul Dumpers
- Drillers & Breakers
- Robotic Trucks
- RFID Tags
- Intelligent Systems
- Logistics Software
- Data & Operation Management Software
- Safety & Security Systems
- Connectivity Solutions
- Analytics Solutions
- Remote Management Solutions
- Asset Management Solutions
- Support & Maintenance
- System Integration & Implementation Services
- Product Training Services
- Consulting Services
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- North America
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Transparency Market Research
90 State Street,
Albany NY - 12207United States
USA - Canada Toll Free: 866-552-3453
7 of 10 large enterprizes view our Report to take the right decision.View Report