openPR Logo
Press release

Smart Mining Market to Reach US$ 13 Bn in revenues, over 2015-2020

08-04-2017 11:55 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Smart Mining Market to Reach US$ 13 Bn in revenues, over 2015-2020

Smart mining market is expected to witness stellar growth in 2016. Low operational cost benefit will continue to drive demand for smart mining technology, in addition to enhanced productivity, improved operational efficiency, and better safety. Automated equipment will be the largest segment and Asia Pacific excluding Japan will be the dominant market in 2016.

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 For Report Sample@

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. 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.

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.

Send an Enquiry @

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.

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.

Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705

This release was published on openPR.

Permanent link to this press release:

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 to Reach US$ 13 Bn in revenues, over 2015-2020 here

News-ID: 655478 • Views: 150

More Releases from Future Market Insights

How Changing Dynamics of Cable Testing Market are Reflecting on Growth Strategie …
Global Cable Testing Market: Introduction The cost of the substitution of cables that are concealed is very high. Faults in the cable, bending, kinking, and crushing, are not always visible, which has created the requirement for cable testing. Thus, cable testing helps check the cable functionality, cable quality, and cable conformity. Several times, cable testing by visual inspection is an effective way of identifying the actual problem before it causes any
How Transformative Trends in Self-Organising Network Market are Molding Strategi …
Self-Organising Network: Introduction With accelerated advancements and increasing complexities in the radio network technologies, such as those utilised for the development of LTE and 5G networks, which are used for planning, management, configuration, healing and optimisation, are required to be automated to facilitate efficiency. At present, suppliers are offering self-organising networks that possess the ability to offer optimum performance. Self-organising networks are use cases that perform network governance, including network planning,
Mining Vehicle AC Kits Market: Exploring the Impact of Trends on Strategies of K …
Mining Vehicle AC Kits Market: Introduction Cabin space in mining equipment has become more sophisticated in the recent past. The installation of mining vehicle AC kits has evolved from an optional feature to a necessary feature. Mining equipment manufacturers have made advancements in technology related to efficiency, performance and cost of air conditioning systems in order to make them affordable and economical to enable low-budget and compact installations without compromising on
Key Factors to Fuel Growth of the Talent Acquisition & Staffing Technology and S …
With the growing importance of recruiting and retaining top talent effectively and efficiently, smart hiring processes are the need of the hour. It is about time organisations move beyond merely scrutinising resumes. Salaries and benefits are important factors, but adopting ways that would make candidates an important part of the hiring process will attract the best talent. Studies reveal that due to discrepancies in existing Applicant Tracking Systems (ATS), hiring

All 5 Releases

More Releases for Smart

Smart Solutions
Heidelberg, May 28, 2019 – The dental group Young Innovations presents new products that increase efficiency and safety in the practice: The high-quality Galaxie Cassettes simplify the cleaning, sterilization and classification of hand instruments. A stable case made of electropolished stainless steel protects the equipment, the unique design reduces the contact points. A laser-cut pattern maximizes water through flow and increases efficiency in the RDG / thermal disinfector. Smooth rounded corners
Survey Report on Smart Kitchen Appliances Market 2018: Smart Refrigerator, Smart …
The report analyzes and presents an overview on "Global Smart Kitchen Appliances Market Professional Survey Report 2018" worldwide. This report studies Smart Kitchen Appliances in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2013 to 2018, and forecast to 2025. The study objectives of this report are: To study and forecast the market size of Smart
Smart Mirrors
A smart mirror is an ordinary mirror with additional features and functionalities, incorporating capabilities that are otherwise done manually or in some computing system other than the mirror. For instance, a mirror that can connect to a smartphone or the internet and offer some measure of user comfort. The computing features in smart mirrors enable them to connect to the Internet and smartphones, categorizing them as connected devices. Connected devices
Powered Smart Cards
In terms of consumption, the global powered smart card market stood at 2,049.1 Mn units in 2015 and is expected to register a volume CAGR of 59.2% to reach 5,640.6 Mn units by 2024 end. In a new report titled “Powered Smart Card Market: Global Industry Analysis & Forecast, 2016–2024”, Persistence Market Research studies the performance of the global powered smart card market over an eight-year forecast period (2016 –
The shipping world needs to wake up and embrace the philosophy of smart shipping because it is already here and the downturn in the world economy is not going to last forever, according to Panos Kirnidis, CEO of the Palau International Ship Registry. “The maritime industry knows that smart ships and smart technology is the way forward and yet there seems to be reluctance on the part of some owners to
Smart Kitchen Appliances Market ( Smart Refrigerators, Smart Dishwashers, Smart …
The rising demand for smart kitchen appliances is linked to their premium design that offers better effectiveness and more comfort than their traditional counterparts. With energy efficiency at its core, the global market for smart kitchen appliances is expected to surge at a robust pace in the near future.In a report titled “Smart Kitchen Appliances Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022,” Transparency