Smart Mining Market will reach at $ 34,453 million by 2032, demand and future scope -ABB Ltd., Atlas Copco, Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., Joy Global Inc., Komatsu Ltd., Outotec Oyj, Cisco Systems Inc., Alcatel-Lucent

The global smart mining market is estimated to be valued at US$ 16,211.2 million in 2021 and is expected to exhibit a CAGR of 19.3% over the forecast period (2021-2032).

Recent Developments:

In August 2021, Simens AG, a Germany based technology company launched a Virtual Smart Mining Forum in order to explore new market trends & technology in the mining sector.

In July 2019, ABB, a Switzerland based technology company launched digital application for real-time integration in open-pit and underground mines.

In February 2021, Kalmar, part of Cargotec, a Finland based engineering company made agreement with Companhia Siderúrgica Nacional (CSN), Brazil based Steel production company to supply of nine Kalmar Rubber-Tyred Gantry Cranes (RTGs)

The Smart Mining report is highly structured into a region-wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the market. The study helps understand how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR.

Download FREE Sample Report @ https://www.mraccuracyreports.com/report-sample/350111

The report provides a comprehensive analysis of company profiles listed below:

ABB Ltd., Atlas Copco, Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., Joy Global Inc., Komatsu Ltd., Outotec Oyj, Cisco Systems Inc., Alcatel-Lucent

Smart Mining Market Types:

Hardware, Service, Solution.

Smart Mining Market Applications:

Metallic Mine, Coal, Non-metallic Mine, Other

Global Smart Mining Market-Drivers

Rising concerns regarding the environment are expected to drive growth of the global smart mining market during the forecast period. Mining industry is actively deploying environment-friendly mining technologies that facilitate the maximization of mineral and ore recovery with reduced waste. These technologies allow operators to monitor and control pollution by evaluating air and water quality, which in turn, helps mining companies to comply with regulatory policies. For instance, Copper NuWave deployed an ore processing technology at the Kennecott Utah Copper mine in the U.S., which maximizes mineral recovery and reduces waste, energy and water consumption.

Buy Exclusive Report right now- do no miss this chance @: https://www.mraccuracyreports.com/checkout/350111

Growing adoption of big data analytics is expected to propel the global smart mining market growth over the forecast period. Big data analytics has become a major technology in the IT and mining industry. Big data analytics offer real-time data analytics and predictive analytics, in order to enhance quality and efficiency of regular operations. It is done by providing data on equipment history such as equipment maintenance and repair history, and fuel consumption rates in real-time. Hence, multiple mining companies are increasingly implementing an analytics solution, in order to improve machine reliability and efficiency, which is encouraging smart mining solution providers to introduce advanced analytic solutions. For instance, in 2014, IBM introduced a big data analytics tool, through which mining companies can easily track wear and tear, ensuring the uninterrupted performance of mining equipment and preventing failure.

Competitive Section

Key players operating in the global smart mining market are ABB Ltd., Komatsu Ltd., Sandvik Mining and Construction, Atlas Copco, Alcatel-Lucent, Caterpillar Inc., Cisco Systems Inc., Hitachi Construction Machinery Co. Ltd., Outotec Oyj, and Joy Global Inc.

Key Developments

Key players in the market are focused on product development, in order to expand product portfolio. For instance, in March 2019, ABB Ltd., a Switzerland-based company, introduced digital portfolio 'AbilityTM MineOptimize' for Indian mining sector.
Major companies in the market are involved in mergers and acquisitions, in order to obtain a competitive edge in the market. For instance, in April 2017, Komatsu America Corp., a subsidiary of Komatsu Ltd., acquired Joy Global Inc., a provider of high-productivity mining solutions.

Get Up to 20% Discount on the first purchase of this report @ https://www.mraccuracyreports.com/check-discount/350111

Excavators Automated Equipment Segment to Secure Major Market Share
The smart mining market is segmented based on automated equipment, hardware component, service, software solution, and region
The automated equipment segment is further classified into excavators, drillers & breakers, load haul dump, robotic trucks, and other automated equipment. The excavators segment held the maximum share of about 30% in 2020.
In terms of service, the support & maintenance segment accounted for major share in 2020
In terms of software solution, the data & operation management software segment is estimated to expand substantially in the near future
Asia Pacific to Continue to Remain Frontrunner
Asia Pacific holds the leading share of the global smart mining market. The region is followed by Europe and North America.
Increasing use of IoT in countries such as India and China has propelled the growth of the smart mining market in Asia Pacific
Rise in mining activities in many African countries has shown a significant growth trajectory in the Middle East & Africa smart mining market
The shift from the traditional grid to advanced smart technology, predominantly in developed countries, is fueling the smart mining market. Nonetheless, the smart mining market is subject to increased mining activities that need to be conducted using eco-friendly solutions. To serve this, the incorporation of optimal mining technology in the regulated environment has spread across the globe.
Furthermore, smart mining solutions conform to the standards and regulations of respective areas and maximize commercial outcomes by making operations safer and efficient
Key Players Focus on Automation of Mining Operations
Companies in the smart mining market are striving to increase their revenue through R&D activities, strategic collaborations, and investments
Players in the smart mining market are also focusing on making a mark across the personal care sector. Therefore, growth in influence of smart mining in mining processes is likely to drive the smart mining market.
In addition, R&D activities help in developing new formulations and strategies. Thus, these aspects eventually increase the growth rate of the smart mining market. Several other areas have emerged, which seek to benefit from automation in the smart mining industry.
Players in the smart mining market are exploring the capabilities of remotely programmed and controlled software to autonomously carry out mining processes. The automation technology will help in monitoring the static and moving assets from remote places.
Strategic collaborations are also vital for the growth of the smart mining market. Players engage in joint ventures, mergers, acquisitions, and partnerships. These activities assist in increasing the influence of players.

#Customization Service of the Report:

Mr Accuracy Reports provides customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Call Us - UK +44 7452119323
USA +1 8045001224
Email us - sales@mraccuracyreports.com
30 Crawley Lane, West Sussex, RH10 7EG, United Kingdom
3351 Green Turtle Rd, Regina, SK S4V 3N6, Canada

MR Accuracy Reports is a Market Research and consulting company that accomplishes requirement of research agencies,small, medium and large corporations, global business leaders, government organizations,
SME's, Individual & Start-ups, top management consulting firms

This release was published on openPR.