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Smart Mining Technologies Market Analysis, Business Development, Size, Share, Trends, Future Growth, Forecast To 2030

09-22-2022 11:13 AM CET | Energy & Environment

Press release from: We Market Research

Smart Mining Technologies Market

Smart Mining Technologies Market

The Global Smart Marketing Market valued at US 11979.02 Billion in 2022 is anticipated to reach a value of US 40092.13 Billion in 2030, growing at a CAGR of 16.3%.

Smart mining technologies market- Overview

Traditional mining activities mainly includes hazards that are associated with coal dust inhalation, concerns with access to capital and power supplies.

There is requirement for smart mining technologies that includes, mining analytics platform and emission management software, which have surged for providing enhanced capabilities for planning, analysing and maintenance of mining operations.

The adoption of smart mining technologies in mining process has also gained significance because of the shifts in mining business operations, higher requirement of safety with error-free decision-making processes.

Digital integration of mining process with use of automated mining equipment, modular mobile machines, and also mining analytics platforms has reduced the complexities with improved decision-making process.

Key market trends- Growth determinant and challenges

Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the higher demand for safety during constructions over the forecast period.

The key benefits of automation in mining industry includes better fuel efficiency, improved working conditions, reduction in unscheduled maintenance, and also enhanced vehicle utilization. All these factors have driven the demand for smart mining technologies over the forecast period.

Also, automated mining technologies have brought better predictability resulting in easier adjustments with lower downtimes. These have eliminated the need for human intervention in hazardous situations over the forecast period.

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Segmental analysis of the market:

Based on technology
• AI/ML-enabled Supply Chain Management
• Mining Analytics Platform
• Blockchain-based Metal Trading Platform
• Emissions Management Software
• Others

Blockchain-based Metal Trading Platform segment has dominated the market growth over the forecast period. This is because it ensures efficient remote trade executions with high security across metals and mining value chain.

Based on Application
• Risk & Compliance Management
• Mining Operations & Process Control
• Mining Data Warehousing
• Others

Risk and compliance management segment has dominated the market growth over the forecast period. This is because of the risks of cyberattacks and cybersecurity threats that are prevailing in mining industry with threats that are related to mining control systems.

North America is anticipated to amplify at a considerable CAGR

The smart mining technologies market is segmented into 5 main regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle east and Africa. Among these, North America has dominated the market growth over the forecast period. This is because of the introduction of connected technologies in the mining industry that has boosted the market growth.

Competitive Landscape

Some of the prominent companies operating in the market are
• Aveva Group Plc
• Wipro
• Dataparc
• Infosys
• Huawei Technologies
• ABB Ltd
• Skuchain
• Sphera
• Envirosuite
• Locus Technologies
• io
• ai
• ZE Power Group Inc.
• Phinar Software
• Open Text Corporation

Major questions answered in this report.

• what is the growth rate of the smart mining technologies market?
• What are the primary growth determinants of the market?
• Which are the major regions constituting the geographical landscape of the market?
• Which are the prominent companies operating in the market?

Key takeaways from the report

• The smart mining technologies market is projected to expand at a CAGR of 16.3% over the forecast period.
• The higher demand for safety is aiding market progression.
• The Risk and compliance management segment is poised to expand significantly over the forecast period
• North America has dominated the regional market sphere over the forecast period.

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About We Market Research

WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.

Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.

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