New York, NY, May 13, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Smart Mining Market by Automated Equipment (Excavators, Load Haul Dump, Drillers & Breakers, Robotic Truck, and Others), by Hardware Component (Sensors, RFID Tags, Intelligent Systems, and Others), and by Software Solutions (Smart Logistics, Smart Control Systems, Remote Management Solution, Smart Safety and Security System, Smart Assets, and Operational Data Processing and Analytics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global smart mining market was valued at USD 8.6 billion in 2018 and is expected to reach USD 22.19 billion by 2025, at a CAGR of 14.5% between 2019 and 2025.
In earlier times, miners were mainly dependent on the labor force for the mining process. However, to ease the manual work for reducing the associated costs and utilized time, smart mining was introduced. Some of the trending smart mining technologies include sensors, RFID tags, and automated mining equipment, etc. The global smart mining market is expected to grow notably in the next few years, owing to the increasing use of the Internet of Things (IoT) solutions by the mining industry. Moreover, the growing concerns regarding labor’s safety in the mining industry are likely to further propel the smart mining market globally. Additionally, this market’s rapid growth can also be attributed to growing urbanization and swift industrialization in emerging countries of the world.
Browse through 54 Tables & 33 Figures spread over 110 Pages and in-depth TOC on “Global Smart Mining Market: System, Solutions, Size, Share, Growth, Trends, Industry Opportunities and Forecast, 2018–2025”.
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The global smart mining market is classified based on automated equipment, hardware component, and software solutions. The automated equipment segment of the smart mining market includes load haul dump, drillers and breakers, excavators, robotic truck, and others. Automated excavators equipment is expected to hold the largest share of the global smart mining market, owing to the rising demand for automated excavator in the mining industry. By hardware component, the market includes RFID tags, intelligent systems, sensors, and others. Intelligent systems accounted for the largest share of the global smart mining market in 2018 and are projected to dominate in the future as well. The smart mining market is segmented on the basis of software solutions into smart logistics, smart assets, smart control systems, smart safety and security system, remote management solution, and operational data processing and analytics. The operational data processing and analytics segment dominated the global smart mining market in 2018 and is anticipated to grow at the fastest pace over the forecast time period.
By region, Asia Pacific was the largest contributing region in the global smart mining market in 2018. This can be attributed to rising urbanization and swift industrialization in China and India, growing IoT usage in various industrial applications, and rising concerns regarding labor safety.
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The North American smart mining market is likely to grow significantly in the future, due to the rising demand for smart mining in the U.S. and Mexico. The U.S. is expected to be the fastest growing country within the region. Moreover, the rising application of IoT in the mining industry and the region’s flourishing mining industry are further projected to propel this regional market’s growth.
The European smart mining market is predicted to grow moderately in the years ahead, owing to the increasing need for automated equipment in the mining industry. UK and Germany are expected to grow at the highest growth rate in the region, owing to the growing number of mining companies and increasing need for automated equipment by the region’s mining industry.
Browse the full “Smart Mining Market by Automated Equipment (Excavators, Load Haul Dump, Drillers & Breakers, Robotic Truck, and Others), by Hardware Component (Sensors, RFID Tags, Intelligent Systems, and Others), and by Software Solutions (Smart Logistics, Smart Control Systems, Remote Management Solution, Smart Safety and Security System, Smart Assets, and Operational Data Processing and Analytics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/smart-mining-market
Latin America is projected to grow moderately over the estimated timeline, owing to rapid industrialization and surging demand for automated equipment like drillers, breakers, and robotic trucks. The Middle Eastern and African smart mining market is projected to grow at the fastest pace over the next few years, due to the increasing number of mining activities in the African region and the rising demand for rare earth metals across the region.
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Some noticeable players of the global smart mining market are Rockwell Automation, Komatsu, Hexagon, Trimble Navigation Limited, Stone Three Mining, Sandvik, SAP, Alastri, IntelliSense, Symboticware, ABB, Alcatel-Lucent, Caterpillar, Hitachi Construction Machinery, Joy Global, Cisco Systems, and Atlas Copco.
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The report segments the global smart mining market into:
Global Smart Mining Market: Automated Equipment Analysis
- Excavators
- Load Haul Dump
- Drillers and Breakers
- Robotic Truck
- Others
Global Smart Mining Market: Hardware Component Analysis
- Sensors
- RFID Tags
- Intelligent Systems
- Others
Global Smart Mining Market: Software Solutions Analysis
- Smart Logistics
- Smart Control Systems
- Remote Management Solution
- Smart Safety and Security System
- Smart Assets
- Operational Data Processing and Analytics
Global Smart Mining Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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