Smart Mining Market: Digital Revolution to Transform the Mining Sector : Global Industry Analysis and Opportunity Assessment

Adoption of automated vehicles and technology will continue to gain traction in the mining industry, as operational efficiency and safety gain centre stage. During the forecast period 2015-2020, the global smart mining market is anticipated to increase at a compound annual growth rate (CAGR) of 14.5%, and rake in US$ 13 Bn in revenues.

The key areas which are currently witnessing increasing automation include surface drilling technologies, simulator training, and machine guidance.

The key trends expected to shape up the adoption of smart technologies include, Robust Adoption of Internet of Things, Investment in Simulation Technology, Growing Use of 3D Imaging, Implementation of Remote Monitoring Systems.

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FMI conducted an end-user survey with leading mining operators based in Middle East & Africa (MEA), ASEAN, Oceania, and BRIC. Some of the key findings of the survey include,

Over 88% respondents agreed to using smart mining technology solutions in both surface and underground mining

Smart mining will witness the highest adoption among miners in Oceania, followed by ASEAN

Nearly 31% respondents that did not use smart mining technology solutions currently planned to deploy these solutions in the next one year

Companies operating in both (surface & underground) mining types managed over 70% of logistics and production operations in-house

Survey results concluded that among all the mining operations, major volumes of the production process is managed in-house

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Asia Pacific excluding Japan (APEJ) will continue to remain the largest market for smart mining globally. North America and Western Europe will remain the other lucrative markets for smart mining equipment and services during the forecast period.

The leading players in the global smart mining market include Hitachi Construction Machinery Co. Ltd., ABB Ltd., Komatsu Ltd., Outotec Oyj, Copco, Caterpillar Inc., Atlas Joy Global Inc., Cisco Systems Inc., and Alcatel-Lucent.

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This release was published on openPR.