Smart Mining Market is anticipated to increase at a compound annual growth rate (CAGR) of 14.5%

Future Market Insights has recently published a market research report on Global Smart Mining market. The study presents a detailed analysis on the historical data, current and future market scenario for the Smart Mining market. The global Smart Mining market report is projected to witness a positive growth over the forecast period of 2021 and 2031.

The report presents an in-depth analysis of key growth drivers and trends that are likely to impact the market in upcoming years. With the adoption of cloud computing and artificial intelligence, the technology industry is expected to witness a healthy growth over the forecast period. Increasing competitive pressure and advanced digital transformation in the area of data analytics and artificial intelligence are likely to improve the growth outlook for the Smart Mining market in the upcoming decade.

According to the FMI’s report, Changes in consumer behavior, robust product innovations, and expanding distribution networks continue to influence growth of the Smart Mining market. FMI’s analysts rely on unique research methods and comprehensive data study of the current and upcoming trends of the Smart Mining market report and gather data from a wide range of primary and secondary sources.

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Robust Adoption of Internet of Things (IoT)

Rapid advancement in technology will continue to influence mining operations. While a fully connected mining site may be still be a few years away, IoT is increasingly being adopted in mining equipment and vehicles. To increase operational efficiency and reduce downtime, miners are using advanced tools for predictive maintenance. The use of IoT in scheduling and predicting maintenance and repair tasks is expected to play a key role in its widespread adoption.

Investment in Simulation Technology

Simulation technology is gaining traction among miners owing to its proven benefits in responding to emergency situations. While the technology per se is highly efficient, shrinking budgets have resulted into limited adoption. However, the technology is poised to witness widespread adoption in the long run.

Growing Use of 3D Imaging

3D imaging is being widely used for exploration of mines, and this trend is expected to become stronger in the future. It is anticipated that adoption of this technology will grow on account of its growing use in planning and targeting of drill holes.

Implementation of Remote Monitoring Systems

Remote monitoring systems enable miners to collect data from the site in real-time and transmit it to the local centre in real time. A significant percentage of mining companies have successfully adopted remote monitoring systems in their operations. Implementation of remote monitoring systems is anticipated to witness an uptick in the near future.

Leading Players in Global Smart Mining Market

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. In addition to raising awareness among end-users, these players are investing in R&D to launch cutting-edge products and services in the market.

Key Segments Covered

  • By Automated Equipment
    • Driller & Breaker
    • Load Haul Dump
    • Mining Excavator
    • Robotic Truck
    • Other Automated Equipment
  • By Component
    • Hardware
    • Intelligent System
    • RFID Tag and Sensor
    • Other Hardware
  • Solution
    • Data & Operation Management Software
    • Analytics Solution
    • Connectivity Platform
    • Other Solution
  • Service
    • Engineering & Maintenance Service
    • Consulting Service
    • Product Training Service
    • Implementation & Integration Service

Key Regions/Countries Covered:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • MEA

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Why Buy FMI’s Report?

  • Extensive analysis on key trends and opportunities on the industries ongoing trends in different regions across the globe
  • All-inclusive assessment on recent technological advancements and forecast of the upcoming decade
  • A comparative analysis of leading players and emerging players in the Smart Mining market
  • Reliable information on new product launches, organic and inorganic strategies, and more
  • Valuable insights on the impact of regulatory framework on the global Smart Mining market

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.


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