Press release
Smart Mining Market to Grow at a CAGR of 13.3% to reach US$ 23,055.4 million from 2021 to 2028
Smart Mining Market: Key InsightsAccording to our latest market study on “Smart Mining Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component (Hardware, Software and Solution, and Service) and Mining Type (Underground Mining and Surface Mining),” the market was valued at US$ 9,334.5 million in 2020 and is projected to reach US$ 23,055.4 million by 2028; it is expected to grow at a CAGR of 13.3% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players with their developments in the market.
Smart Mining Market: Competitive Landscape and Key Developments
ABB Ltd.
Alastri
Atlas Copco
Caterpillar Inc.
Cisco Systems Inc.
Hexagon AB
Hitachi Construction Machinery Co. Ltd.
Komatsu Mining Corporation
Rockwell Automation, Inc.
Trimble
Get Exclusive Sample Pages of Smart Mining Market with Latest Research at https://bit.ly/3BrQ0VW
In June 2020, Trimble introduced the Trimble SX12 Scanning Total Station.
In January 2021, ABB delivered a trolley assist solution to meet Copper Mountain Mining’s sustainable development goals in Canada.
The growth of surface mining is driven by growing demand for both non-metallic and metallic minerals, an abundance of reserves that can be exploited utilizing surface mining, increasing energy consumption, the lesser capital requirement, technological advancements in mining, and growing concerns amid countries about energy security. The additional factors that are propelling the market growth include increasing use of coal, growing electricity consumption across the globe; the rising need for minerals and metals; increasing environmental regulations, rapid urbanization, and industrialization; and growing demand for metal such as steel in numerous industries, namely transportation, construction, manufacturing, and various consumer products. However, strict environmental rules and regulations associated with land acquisition and utilization of coal to generate power coupled with the scarcity of skilled labor are various factors that may deter the growth of the surface mining segment over the assessment period.
Smart Mining Market Segmentation:
-Smart Mining Market - By Component
1. Hardware
- RFID Tags
- Sensors
- Intelligent System
- Others
2. Software
- Logistics Software
- Data & Operation Management Software
- Safety & Security Systems
- Connectivity Solutions
- Analytics Solutions
- Remote Management Solutions
- Asset Management Solutions
- Service
-Smart Mining Market – By Mining Type
- Underground Mining
- Surface Mining
Order a Copy of Smart Mining Market Size, Share, Strategic Insights, and Forecasts 2021-2028 Research Report at https://bit.ly/3mrIE0l
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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive, and Defense.
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