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Smart Mining Software Market Size, Development Data, Growth Analysis & Forecast 2022 to 2028 -Atlas Joy Global Inc., Cisco Systems Inc., Alcatel-Lucent, OutotecOyj, Copco, Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., ABB Ltd., Komatsu Ltd.

The smart mining market was valued at USD 12.32 billion in 2021 and is expected to reach USD 32.12 billion by 2032. It is expected to register a CAGR of 20.62% from 2022 to 2032. Mining involves many processes, including resource allocation management of equipment, such as mining trucks, excavators, drills, conveyor belts, transportation and logistics, and more. To ensure that everything runs efficiently and finishes faster, these complex processes require a system to simplify and automate them.

Some of the Major Key players profiled in the study are Atlas Joy Global Inc., Cisco Systems Inc., Alcatel-Lucent, OutotecOyj, Copco, Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., ABB Ltd., Komatsu Ltd.

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According to research by Ericsson, when deployed concurrently, autonomous vehicles, real-time site monitoring, and remote-controlled drilling rigs deliver improved efficiency, productivity, safety, and a combined ROI of 207% over ten years in surface operations. In underground mining, the ROI equates to 256%. Digital technology is driving fundamental changes in mining.​

· In recent years, mining businesses across emerging countries have faced an increase in the number of challenges, including price instability, the need to drill deeper to uncover new resources, and a skills shortage across the industry. Many mining businesses have resorted to digital transformation to overcome these issues. The market is focusing on using advanced technology to transform traditional mines into smart mines that are more efficient, safer, and more productive.

Global Smart Mining Software Market Segmentation:

Smart Mining Software Segmentation by Type:

Logistics Software, Data And Operation Management Software, Safety And Security Systems, Connectivity Solutions, Analytics Solutions, Remote Management Solutions, Asset Management Solutions.

Smart Mining Software Segmentation by Application:

Military, Oil & Gas, Metal, Others

Key market aspects are illuminated in the report:

EData Management & Analytics Expected to Show Highest Growth
· Data is one of the most valuable assets. Every day automated drills, trucks, shovels, conveyors, trains, and ships produce vast amounts of valuable data. By combining this data with smart analytics, artificial intelligence, machine learning, and automation, various vendors are making their businesses safer and more productive.

· According to the World Economic Forum, digital transformation initiatives in the mining sector will generate more than USD 320 billion of industry value over the next decade. InterSystems IRIS for Mining Operations is next-generation digital transformation software for mining operators that works seamlessly with existing machinery and software applications. It delivers real-time, customizable Key Performance Indicators (KPIs), including Overall Equipment Effectiveness (OEE) and real-time alerts as data levels and KPIs approach pre-defined thresholds.

· Big data, driven by the accelerating progress of information and communication technology, is a promising technology that can reshape the entire mining landscape. Despite numerous attempts at applying big data in the mining sector, fundamental problems of big data massive data management (BDM) in the mining sector persist.

The cost analysis of the Global Smart Mining Software Market has been performed while keeping in view manufacturing expenses, labor cost, and raw materials and their market concentration rate, suppliers, and price trend. Other factors such as Supply chain, downstream buyers, and sourcing strategy have been assessed to provide a complete and in-depth view of the market. Buyers of the report will also be exposed to a study on market positioning with factors such as target client, brand strategy, and price strategy taken into consideration.

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North America to Hold Major Market Share
· The North American region is a significant contributor to the global smart mining market, with major countries being the US and Canada.

· The search for extraction, beneficiation, and processing of naturally occurring solid minerals from the earth are all part of the mining business in the US. Coal, metals like iron, copper, or zinc, and industrial minerals like potash, limestone, and other broken rocks, are the minerals mined. This industry excludes oil and natural gas extraction (NAICS code 211).

· Metals and other minerals are vital raw resources for the construction and chemical sectors in the US and the manufacturing of everyday electronics and consumer goods. A modern computer, for example, necessitates the use of over 65 distinct minerals. Furthermore, coal is responsible for nearly half of the electricity generated in the US.

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Competitive Landscape
The smart mining market has been gaining a competitive edge in recent years. Major players include Cisco Systems Inc., SAP SE, and Rockwell Automation Inc., among others. A few recent developments are:

· In April 2021, Cisco opened an Advanced Technology Center in capital Santiago to provide innovation support to Chilean mining companies. The ATC is part of Cisco's global program, 'Country Digital Acceleration,' an initiative that looks for countries with significant growth potential and assigns an investment amount to obtain resources for boosting innovation and development. In Chile, the primary focus is mining, followed by electricity.

Recent Developments
· In September 2021, Komatsu exhibited sustainable and autonomous mining technology at MINExpo 2021. The key offerings by the company included WE1850 Gen 3 Surface Wheel Loader with proven SR (Switched Reluctance) Hybrid Drive Technology, ZR122 Surface Blast Hole Drill with automated features, Battery Hauler for Underground Mining powered by lithium-ion battery technology, Battery-tram powered ZJ32Bi Jumbo Drill for underground hard rock mining and underground hard rock drilling and bolting retrofits, compatible with all major and most other OEMs.

· In June 2021, Rockwell Automation and Plex Systems, a cloud-native smart manufacturing platform, announced that Rockwell had signed an agreement to acquire Plex for USD 2.22 billion in cash. Plex provides the only single-instance, multi-tenant SaaS manufacturing platform that operates at scale, including advanced manufacturing execution systems, quality, and supply chain management capabilities. This acquisition may enable Rockwell to scale up its cloud offerings for mining and related industries.

Smart Mining Market: End-user Survey Analysis
FMI conducted an end-user survey with leading mining operators based in Middle East & Africa (MEA), ASEAN, Oceania, and BRIC. Some of the key findings of the survey include,

Over 88% respondents agreed to using smart mining technology solutions in both surface and underground mining
Smart mining will witness the highest adoption among miners in Oceania, followed by ASEAN
Nearly 31% respondents that did not use smart mining technology solutions currently planned to deploy these solutions in the next one year
Companies operating in both (surface & underground) mining types managed over 70% of logistics and production operations in-house
Survey results concluded that among all the mining operations, major volumes of the production process is managed in-house

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