Press release
Smart Mining Market to reach USD 40.44 Bn by 2029, Technological Advancements and Growth Opportunities
Smart Mining Market
Smart Mining Market Report Scope and Research Methodology
The report provides an overview of smart mining and the benefits of using automation and optimization to deliver long-term outcomes. Smart mining is a technology-driven extension of the traditional mining process that enhances mine site safety, reduces operational costs, and increases productivity.
The report provides an in-depth analysis of the smart mining market, including the research methodology used to compile the data.
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Smart Mining Market Dynamics
The report identifies growth drivers, including the deployment of autonomous equipment, greater attention to safety and health, expanding environmental concerns, effective connectivity among miners, optimum product output, and minimal wastage. Smart mining technologies are also safer and more environmentally friendly than traditional mining methods and enable pollution monitoring to meet environmental regulatory standards.
Based on type, the smart mining market is segmented into surface mining and underground mining. The surface mining segment held the largest market share accounting for 61 percent in 2021, while the automated equipment segment held the largest market share of the component, accounting for 31 percent in 2021. The hardware segment is expected to witness significant growth during the forecast period, growing at a CAGR of 16.2 percent.
Smart Mining Market Regional Insights
The Asia Pacific region held the largest market share, accounting for 41 percent in 2021 and is expected to grow at a CAGR of 17.3 percent during the forecast period. The region's growth is attributed to the rise in infrastructure development and automotive production, increasing investment in the mining sector, and the value of mineral production. Meanwhile, North America is expected to witness the highest growth, growing at a CAGR of 18.2 percent during 2021, thanks to cost efficiency and large-scale mining projects across the region.
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Smart Mining Market Segmentation
By Type:
• Surface Mining
• Underground Mining
By Component:
• Automated Equipment
• Hardware
• Software
• Services
By Automated Equipment:
• Driller and Breaker
• Load Haul Dump
• Mining Excavator
• Robotics Trunk
• Other
By Service:
• Engineering & maintenance Services
• Consulting Services
• Product Training Services
• Implementation & Integration Service
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Smart Mining Market Key Competitors include:
• ABB Ltd.
• Komatsu Ltd.
• Sandvik Mining and Construction
• Atlas Copco
• Caterpillar Inc.
• Cisco Systems Inc.
• Hitachi Construction Machinery Co. Ltd.
• Outotec Oyj
• Joy Global Inc.
• Sandvik AB
• Alcatel-Lucent
• Thingworx
• IBM
• SAP SE
• Alastri
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Table of Content for Smart Mining Market:
Global Smart Mining Market: Research Methodology
Global Smart Mining Market: Executive Summary
Market Overview and Definitions
Introduction to Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Global Smart Mining Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Global Smart Mining Market Segmentation
Global Market, by Type (2021-2029)
Global Market, by Component (2021-2029)
Global Market, by Automated Equipment (2021-2029)
Global Market, by Service (2021-2029)
Regional Smart Mining Market (2021-2029)
Regional Market, by Type (2021-2029)
Regional Market, by Component (2021-2029)
Regional Market, by Automated Equipment (2021-2029)
Regional Market, by Service (2021-2029)
Regional Market, by Country (2021-2029)
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
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Key Types:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Type, Component, Automated Equipment and Service
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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