Press release
APAC Is Dominating the Mining Automation Market
The increase in the need for better security of work, an increasing demand for fleet management systems, and a growing focus on reducing operating costs are mainly behind this trend.
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In recent years, the equipment category had the largest market share, of above 42%. This is mainly because numerous pieces of equipment are utilized for mining processes, such as autonomous drilling rigs, autonomous hauling systems, tunneling equipment, smart ventilation systems, pumping systems, underground LHD loaders, and others.
Of these, autonomous drilling rigs are frequently utilized in mining. These work around the clock and remove numerous security problems related to physically controlled drill rigs while being more accurate and expectable. Furthermore, mining industries can contribute to refining security and total production at mine locations by utilizing autonomous technologies.
In the past few years, the underground mining category had a significant revenue share. AI and technology have captivated the world and are functioning at the core of several industries. Innovative underground mining technology has improved a range of working conditions, such as improved mental and mineral transference, quick emergency responses, underground communication, and several more.
The combination of AI that is working all the time would be the final design of this. AI integration combines real-time, 24/7 screening of minerals and metals and plant processing.
In the coming few years, the communication system category is projected to advance at the highest CAGR. High-speed digital networks are essential for better effectiveness and price optimization, because of the huge size of data produced in mining operations, such as vehicle telemetry and audio & video communications.
Open-pit mining procedures can make utilize of optical fiber networks, cable networks, and wireless communication. To overcome problems triggered by the intricacy and geographical restrictions of underground procedures, wireless communication is vital.
In 2022, APAC dominated the mining automation industry, with a 41% revenue share. This is because of the rising acceptance of technologies for mining mechanization by several nations in the region.
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For example, Australia is considered a worldwide innovator in mining automation technologies that let resource companies function more steadily and efficiently in complex environments. Furthermore, the increasing price pressures that the mining sector is presently facing can be relieved credited to the automation developments.
Hence, the key propellers of the mining automation industry include the increasing requirement for advancing work security, the rising concentration on reducing operating costs, and the growing demand for fleet management systems.
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