Press release
Smart Mining Market Poised for Robust Growth
Rising environmental concern is fuelling adoption of smart mining technology globally. As the technology enables mining companies to maximise mineral output with minimal waste, a growing number of players are expected to incline more toward smart mining solutions. Moreover, the technology uniquely allows them to monitor pollution to meet environmental regulatory norms, thus pushing the demand further. Increasing number of industry players will seek Big Data capabilities for the optimum resource utilisation. Smart mining equipment also reduce turn-around time, leading to rise in adoption.
Inadequate trained resource pool and hefty training costs will remain key restraints to the market growth. Moreover, substantial initial capital investment and lack of standardisation policies may deter the adoption rate of smart mining solutions and equipment.
Request Free Report Sample@ http://www.futuremarketinsights.com/reports/sample/rep-gb-512
Automated equipment segment of the global smart mining market will retain dominance, with over 70% of market share. Increasing deployment of robotics and automated mining machinery in surface and underground mining operations is expected to provide an impetus to automated equipment segment. In terms of Y-O-Y growth, automated equipment are foreseen to climb up from 14.5% in 2016 to 14.7% in 2017. Revenues from this segment will reach US$ 1.33 Bn in 2016, and approximately US$ 1.5 Bn – in 2017. Mining excavator machine will remain the dominant sub-segment, followed by load haul dump. Despite a slight decline, these two sub-segments will represent the largest sectors of automated equipment. Drillers and breakers, robotic trucks, and other equipment will register an uptick in 2016. Robotic trucks, and automated drillers and breakers are anticipated to gain strong mainstream adoption opportunities.
Driven by increasing deployment of intelligent systems, and RFID tags and sensors for enhanced automation in mining operations, component segment will continue to witness significant growth. Hardware is projected for a slight decline despite dominance in market, whereas service segment will represent the fastest growing sub-segment. Owing to rising demand for engineering and maintenance, and consulting services, the services segment is anticipated to reach a market value of US$ 182 Mn in 2017, up from US$ 159 in 2016.
On the basis of region, APEJ will retain a dominant market position with over 35% market share. Increasing number of tech savvy end users and benefit of low operational costs are expected to pose a positive influence on market growth in APEJ. North America, Western Europe, and APEJ collectively account for over 70% of market share; however, N. America, W. Europe will witness notable decline in 2016. Markets in MEA, Eastern Europe, and Latin America are estimated to witness an uptick.
Send An Enquiry@ http://www.futuremarketinsights.com/askus/rep-gb-512
Some of the key players in global smart mining market include ABB Ltd., Atlas Copco, Joy Global Inc., and Sandvik Mining and Construction. Leading companies constantly focus on gaining enhanced market presence through extended product and service portfolio, constant innovation, and strategic mergers and acquisitions. These four players offer smart mining equipment, services, as well as solutions. Other notable players include Hitachi Construction Machinery Co. Ltd., Autonomous Solutions, Inc., and Catterpillar Inc.
A recent survey indicates that nearly 88.3% of respondents from surface and underground mining sectors, are currently using smart mining technology solutions, and a majority of them are from BRICS regions.
Long-term Outlook: Global smart mining market is projected to expand at a CAGR of 14.5%, reaching US$ 13 Bn in revenues, over 2015-2020. APEJ smart mining market will witness a significant CAGR of 16.6% during the forecast period.
ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
CONTACT:
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Press@futuremarketinsights.com
Website: www.futuremarketinsights.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Mining Market Poised for Robust Growth here
News-ID: 373917 • Views: …
More Releases from Future Market Insights
Global Lithium Ion Battery Separator Market Projected to Reach US$ 3,256.7 Milli …
The lithium-ion battery separator is a critical component in lithium-ion batteries, responsible for preventing short circuits and ensuring safe and efficient battery performance. It acts as a physical barrier between the positive and negative electrodes, allowing lithium ions to pass through while blocking the flow of electrons. With advancements in separator technology, these separators play a key role in enhancing battery capacity, cycle life, and overall safety in various applications,…
Industrial Drums Market on a Trajectory to Reach US$ 17.6 Billion by 2027, Bolst …
The Industrial Drums Market is experiencing a steady and promising trajectory, with an estimated value of US$ 12.5 billion in 2022, projected to escalate to US$ 17.6 billion by 2027 at a commendable Compound Annual Growth Rate (CAGR) of 7.1%. This growth is substantiated by a 6.6% CAGR in volume during 2022-27, as per Future Market Insights. Anticipated to expand 1.5 times within this period, the market presents alluring prospects for industry…
Supermarkets, Convenience Stores, and Eco-friendly Choices Fuel the Expansion of …
The metal cans market is predicted to grow at a CAGR of 5% over the forecast period, according to research by Future Market Insights. The industry's estimated value is expected to increase from US$ 56 Bn in 2023 to US$ 91.1 Bn by 2033.
The market for metal cans has been driven by the heightened demand for the product in food and beverages industry. Metal cans helps prolong shelf-life of perishable…
Folding IBCs Market Poised for Growth: Expected to Reach US$ 528 Million by 2027 …
The folding intermediate bulk containers (IBCs) market is on a growth trajectory, with an estimated value of US$ 418 million in 2022, projected to reach US$ 528 million by 2027, showcasing a Compound Annual Growth Rate (CAGR) of 4.8%. Remarkably, the China folding IBCs market defied initial pandemic-related skepticism and is anticipated to grow by 6.9% year on year in 2022. Despite global challenges, China's folding IBCs market is poised to contribute…
More Releases for APEJ
Dimethylolpropionic Acid (DMPA) Market: APEJ to Remain Largest Consuming
Future Market Insights (FMI) delivers key insights on the global dimethylolpropionic acid market in its upcoming report titled “Dimethylolpropionic Acid (DMPA) Market: Global Industry Analysis and Opportunity Assessment 2015–2020”. The global Dimethylolpropionic Acid (DMPA) market is projected to expand at a CAGR of over 8% during the forecast period (2015–2020), largely due to increasing demand for polyurethane dispersions, regarding which FMI offers vital insights in detail in this report.
On the…
Ginger Market: APEJ to Present Attractive Growth Opportunities
The global ginger market is characterized by the presence of a large pool of established players, and therefore the market’s vendor landscape is fragmented and competitive in nature. The players are making use of new flavours in order to attract more customers and introducing new products with added nutrients, notes Transparency Market Research (TMR) in its report on the global ginger market. Some of the players within the market which…
Card Printing Ribbon Market APEJ to Spearhead
According to a new study by Transparency Market Research (TMR), the business landscape in the global card printing ribbon market is highly competitive. Zebra Technologies, Entrust Datacard Corp., IdentiSys Inc., HID Global Corp., Evolis SA, NBS Technologies Inc., AlphaCard, Unicard Systems Pty. Ltd., Dai Nippon Printing Co. Ltd., and Idp Corp. are some of the leading players in this market. They are likely to focus on mergers and acquisitions in…
Rigid Food Containers Market APEJ to Remain Largest
The global rigid food containers market is projected to register a moderate 4 % CAGR throughout the forecast period (2017-2022), according to a new study by Future Market Insights (FMI). The report estimates the global rigid food containers market to surpass revenues worth US$ 80,000 Mn by 2022-end.
Key Takeaways from FMI’s Report on Global Rigid Food Containers Market
Rigid food containers will continue to find the largest applications in ready-to-eat food…
Shrimp Market APEJ to Dominate the Global
Future Market Insights’ new report titled “Shrimp Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” studies the overall performance of the highly competitive global shrimp market for the assessment period of 10 years.
The global shrimp market is anticipated to expand at a significant CAGR over the forecast period and APEJ is likely to dominate the market by grabbing maximum revenue share during the assessed 10 year period.
Revenue from…
Aquafeed Market APEJ to Remain Dominant in Regional
A US$ 50 Bn market, the global aquafeed market has been largely concentrated in the APEJ region for over two decades, owing to a large supply of fresh water in the region and a thriving aquaculture market. While North America will continue to witness significant growth during the forecast period, the MEA market is slated to display great potential in the coming years, owing to a cheap labour force and…
