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The global smart mining market reached a value of US$ 9.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 24.3 Billion by 2027, exhibiting a CAGR of 17.77% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Smart mining refers to the automation of the mining process using advanced solutions, such as cloud, 3D imaging and modeling software, and automated equipment and hardware. It assists in providing remote and real-time visibility of equipment conditions, reducing downtime, eliminating maintenance costs, minimizing operational pressure, and optimizing workplace safety. As it also ensures data security and long-term maintenance of critical assets, it is gaining traction across the globe.
Conventional mining practices involve continuous exposure of the workers to ultra-violet (UV) rays, dust, noise, chemical, and ground instability, which can cause severe health problems. This represents one of the significant factors fueling the growth of the market. Smart mining systems are safe, flexible, adaptable, and reliable and they enable plant managers and operators to make better and informed decisions. As a result, they are increasingly being used by leading mining players around the world. Moreover, they are integrated with the autonomous fleet, remote-controlled equipment, and ventilation solutions to offer safe working conditions and improve operational productivity. The market is also driven by the adoption of price-cutting schemes in the mining industry and the implementation of novel technologies to ensure better quality processes and production. Furthermore, numerous mining firms worldwide are focusing on deploying wireless networks underground. These solutions aid in keeping track of employees, equipment, improving maintenance and boosting efficiency, which is creating a favorable market outlook. Other significant factors, including rising environmental concerns, numerous technological advancements, and the implementation of stringent regulations by governing agencies of different countries to control greenhouse gas (GHG) emissions and air pollution, are anticipated to propel the growth of the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart mining market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, component and automated equipment.
Breakup by Type:
Breakup by Component:
Breakup by Automated Equipment:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd, Caterpillar Inc, Cisco Systems Inc, Hexagon AB, Hitachi Ltd, Komatsu Ltd, Robert Bosch GmbH, Rockwell Automation Inc, Sandvik AB, SAP SE and Trimble Inc.
|Base Year of the Analysis||2021|
|Segment Coverage||Type, Component, Automated Equipment, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||ABB Ltd, Caterpillar Inc, Cisco Systems Inc, Hexagon AB, Hitachi Ltd, Komatsu Ltd, Robert Bosch GmbH, Rockwell Automation Inc, Sandvik AB, SAP SE and Trimble Inc.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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