Smart Mining Market
The global Smart Mining market size is expected to reach USD 22033.9 million by 2026 according to a new study by WhipSmart MI Research. The report “Smart Mining Market by System and Solution (Operational Data Processing and Analytics, Smart Assets, Smart Logistics, Smart Control Systems, Smart Safety and Security System and Remote Management Solution); By Method (Surface Mining, and Underground Mining), By Service (Consulting, System Integration and Support and Maintenance) and By Regions, Segments & Forecast, 2019 - 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Mining companies spend a great deal of capital on the safety and security of their mine workers. With the advent of autonomous trucks/hauliers for surface mining, automatic sensors and detectors, and unmanned excavators, the need for skilled labour has declined.
High adoption of the connected technology in various verticals, there has been a decline in the cost of sensors, and new simple, easy-to-use next-generation sensors such as accelerometers, temperature sensors, pressure sensors, and air monitoring sensors and so on are now available in the market. The application of these sensors by the mining companies has substantially improved their operational and automation processes. These on-site sensors are capable of generating 1-2 terabytes of data per day and have eventually contributed to the increasing trend of big data analytics in the mining sector.
In the global Smart Mining market, North American economy is dominated by extractive activities such as mining and drilling. Mining is one of the major sources of employment in North America. The continent is rich in mineral resources and a leading producer of iron, bauxite, coal, and copper. With the increasing need for mineral ores and strict government mandates regarding coal excavation in the U.S. and Canada, the connected mining market is set to grow at a moderate pace in the region. The solution market is expected to be the highest revenue generator for the projected years in North America. The increasing use of sensor technology coupled with steep growth in mineral demand and large number of upcoming mining projects in the region are responsible for the strong position of North America in this market.
The key players in the market Hitachi Construction Machinery Co. Ltd., ABB Ltd., Komatsu Ltd., OutotecOyj, Copco, Caterpillar Inc., Atlas Joy Global Inc., Cisco Systems Inc., Alcatel-Lucent and among others. Development of distribution channels, novel product development and aggressive marketing campaigning are some of the success factors in the industry.
WhipSmart MI Market research has segmented the Smart Mining market report on the basis of system & solutions, service, method and region
Smart Mining System & Solutions Outlook (Revenue, USD Million, 2019 – 2026)
Operational Data Processing and Analytics
Asset Performance Management
Asset Predictive Maintenance
Inventory and Asset Tracking
Freight Management System
Smart Control Systems
Temperature Control System
Fuel Emission Control System
Air Quality Monitoring System
Smart Safety and Security System
Proximity Detection and Collision Avoidance System
Fatigue Monitoring System
Emergency and Response Management
Remote Management Solution
Smart Mining Method Outlook (Revenue, USD Million, 2019 – 2026)
Smart Mining Service Outlook (Revenue, USD Million, 2019 – 2026)
Support and Maintenance
Smart Mining Regional Outlook (Revenue, USD Million, 2019 – 2026)
Middle East & Africa
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