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Smart Mining Market 2019: Comprehensive Analysis by Top Key Companies, Industry Growth, Size, Share, Market Insights, Sales Volume and Forecast to 2024

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The “Smart Mining Market” research report 2019-2024 delivers comprehensive information and valuable insights about the Smart Mining industry. The information available in the Smart Mining market report is not only based on the facts but also on the case studies, which analysts have included to convey appropriate information to the clients in a well-versed manner. Smart Mining market report includes valuable information to assist new entrants, as well as established players, to understand the prevailing trends in the market.

Some Companies Are Covered in the Smart Mining Market:

  • Cisco Systems Inc.
  • Wenco International Mining Systems Ltd
  • SAP SE
  • Rockwell Automation Inc.
  • Komatsu Mining Corporation (Joy Global)
  • Symboticware Inc.
  • ABB Ltd
  • Trimble Inc.
  • IBM Corporation
  • Atlas Copco
  • Outotec OYJ
  • Hexagon AB
  • Intellisense.IO
  • ABB Ltd

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    Market Overview:

  • The global smart mining market was valued at 5.68 billion in 2018, and it is expected to register a CAGR of 19.7% over the forecast period. The exponential decline in the required human effort for mechanical applications, through automation, add toward establishing an enhanced performance management solution in asset management solutions.
  • Rising pressure due to increasing productivity demands and cost reductions has embarked upon changes in the basic infrastructure, processes, and technology in the mining industry.
  • Factors, such as increased focus on safety and health for the workforce, stringent regulations, rapid adoption of IoT solutions, and rise in adoption of autonomous equipment, have also boosted the overall market growth.
  • The increasing penetration of advanced technology in the industry is projected to cut down significant workforce costs for the end users, and hence result in considerable cost optimization.

    Scope of the Report:

  • Mining is a labor-intensive activity that needs to take under consideration various safety concerns. Smart mining refers to the optimal usage of technology, to achieve higher safety and productivity with minimal costs, within the mines.

    Reasons for Buying Smart Mining Market Report:

    • This report provides pin-point analysis for changing competitive dynamics
    • It provides a forward looking perspective on different factors driving or restraining market growth
    • It provides a five-year forecast assessed on the basis of how the market is predicted to grow
    • It helps in understanding the key product segments and their future
    • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
    • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

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    Key Market Trends:

    Increasing Importance of Data Management and Analysis

    Data management and analysis in the current market landscape has evolved to be of vital importance across different industries. Implementation of connected and automated systems, in order to harness artificial intelligence and utilize the mine’s idle data to make mines smarter for geological modeling and planning, is a recent trend in the industry.

    Globally, mines are facing digital effectiveness as one of the major risks, and are thus making significant IT investments to increase their falling productivity. According to a McKinsey study, owing to inefficient systems, the mining industry recorded a fall of 3.5% in productivity.

    Data from different deployed systems is being centralized to ensure effectiveness and productivity, thus eliminating the need for complicated manual systems. For instance, the Australian iron ore miner, CITIC Pacific Mining is utilizing SAP Vehicle Insights, a monitoring tool for light vehicles. While the tool provides basic logging and trafficking of the company’s assets, it is also helping the company realize the additional benefits (a quick ROI).

    The growing adoption of technology in the mining industry is in its nascent stage, there are certain enhancements required in the areas of storage and management of the security of data being generated. There is a huge growth potential for data management and analytics solutions in the mining industry, as the importance of cross-referencing the data from different departments is increasing, in order to develop holistic data-centric solutions, which can cover the entire operation in the mining location.

    North America to Hold Major Share

    In North America, the United States has been witnessing an economic dislocation with regard to its mining industry (especially coal mining), due to political sensitivity. This has led to plant idling and workforce reductions in these mines, which has been a challenging factor for the smart mining market. Dynamic regulations in the country, due to the changing political environment, is expected to challenge the position of smart mining system manufacturers. With increasing challenges, such as changing the sociopolitical environment, limited access to capital, rising costs, and resource nationalism, the industry in the region is seeking new ways to overcome these challenges. Smart mining initiatives by various major companies are expected to play a crucial role in overcoming the aforementioned challenges.

    Smart Mining Market Report Provides Comprehensive Analysis of:

    • Functional market industry outline
    • Up and downstream industry examination
    • Channels and propositions believability
    • Market challenge by key players
    • Enhancement suggestions examination

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    Report Highlights:

    • Market Dynamics – Drivers, Restraints, and Opportunities
    • Market Segmentation – Types, Applications, Regions, and Technology
    • Market Trends
    • Competitive Landscape
    • SWOT Analysis and Porter’s Five Forces Analysis

    Detailed TOC of Smart Mining Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Value Chain Analysis
    4.3 Industry Attractiveness Porter’s Five Forces Analysis
    4.3.1 Threat of New Entrants
    4.3.2 Bargaining Power of Buyers/Consumers
    4.3.3 Bargaining Power of Suppliers
    4.3.4 Threat of Substitute Products
    4.3.5 Intensity of Competitive Rivalry
    4.4 Introduction to Market Drivers and Restraints
    4.5 Market Drivers
    4.5.1 Growing Focus on Safety and Health
    4.5.2 Increasing Penetration of Internet of Things (IoT) Solutions in Mining
    4.6 Market Restraints
    4.6.1 Lack of Qualified and Highly-skilled Labor
    4.6.2 Challenging Equipment Management

    5 MARKET SEGMENTATION
    5.1 Solution and Service
    5.1.1 Solution
    5.1.1.1 Smart Control System
    5.1.1.2 Smart Asset Management
    5.1.1.3 Safety and Security System
    5.1.1.4 Data Management and Analytics Software
    5.1.1.5 Monitoring System
    5.1.1.6 Other Solutions
    5.1.2 Service
    5.1.2.1 System Integration
    5.1.2.2 Consulting
    5.1.2.3 Engineering and Maintenance
    5.2 Mining Type
    5.2.1 Underground Mining
    5.2.2 Surface Mining
    5.3 Geography
    5.3.1 North America
    5.3.2 Europe
    5.3.3 Asia-Pacific
    5.3.4 Latin America
    5.3.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Cisco Systems Inc.
    6.1.2 Wenco International Mining Systems Ltd
    6.1.3 SAP SE
    6.1.4 Rockwell Automation Inc.
    6.1.5 Komatsu Mining Corporation (Joy Global)
    6.1.6 Symboticware Inc.
    6.1.7 ABB Ltd
    6.1.8 Trimble Inc.
    6.1.9 IBM Corporation
    6.1.10 Atlas Copco
    6.1.11 Outotec OYJ
    6.1.12 Hexagon AB
    6.1.13 Intellisense.IO
    6.1.14 ABB Ltd

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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