Press release
Smart Mining Market Growth & Key Business Strategies by Leading Industry Players like ABB Group, Rockwell Automation, Komatsu, Trimble Navigation, Alastri, Caterpillar, Hitachi Construction Machinery and Cisco Systems
Smart mining market generated a revenue of $5,328 million in 2014 and is expected to reach a market value of $15,837 million by 2022 with a CAGR of 14.9%. Increased focus on safety & health, accelerating adoption of IoT (internet of things) solutions, and rise in adoption of autonomous equipment drives the market growth. However, absence of highly skilled and qualified labor, availability of poor infrastructure and government regulations concerning air, water and overall environment quality restrict the headway. Nonetheless, plant automation and upsurge in digital mining concepts are expected to strengthen the growth.This Report encloses comprehensive analysis on the Smart Mining market and are assessed through volume and value data validated on three approaches including top companies revenues. It concludes with precise and authentic market estimations considering all the parameters and market dynamics.
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Key players that operate in this market are ABB Group, Rockwell Automation, Inc., Komatsu Ltd., Trimble Navigation Limited, Alastri, Caterpillar Inc., Hitachi Construction Machinery Co., Ltd., Joy Global Inc., Cisco Systems, Inc., and Hexagon AB.
The market is classified on the basis of type, category, and geography. Type wise, the market is segmented into underground mining and surface or open pit mining. By category, the market is classified into automated equipment and component.Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific contributed the highest revenue in 2014 and is expected to dominate the market during the forecast period.
Key Findings of Smart Mining Market Study:
- Asia-Pacific region is expected to witness rapid growth in terms of revenue, registering a CAGR of 15.9% from 2016 to 2022.
- Surface mining segment has witnessed significant growth in 2014, and is anticipated to dominate the overall market by 2022, registering a significant CAGR of 16.0%.
- In 2014, hardware component segment accounted for the highest revenue share of over 41% and would dominate the market throughout the forecast period.
-Remote management solutions segment is expected to grow at the highest CAGR of 17.1% during the forecast period.
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Table of Content
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Smart Mining Market by Type
Chapter 5: Smart Mining Market, By Category
Chapter 6: Smart Mining Market, By Geography
Chapter 7: Company Profiles
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