Smart Mining Market Report with Incorporation of Latest Technologies, Improving Efficiency & Perfomance, Top Investors Globally, Foresight to 2023

Global Smart Mining Market - Segmented by Solutions (Smart Control Systems, Smart Asset Management, Safety and Security Systems, Data Management and Analytics Software and Monitoring Systems), Services (System Integration, Consulting and Engineering & Maintenance), Type and Region - Growth, Tends and Forecasts (2018 - 2023)

Dallas, United States - April 17, 2018 /MarketersMedia/ —

Mining companies have been followers and late adopters on the technology front, while recently they have made tremendous headways towards establishing themselves as technology innovators.

The Smart Mining Market was valued at USD 4860 million in 2017 and is expected to reach a value of USD 13005 million by 2023 at a CAGR of 18.02%, over the forecast period (2018 - 2023).

Request sample copy of Smart Office Market at:
http://orbisresearch.com/contacts/request-sample/2095395

Mining is a labor-intensive activity which needs to take into consideration many safety concerns. Smart mining refers to the optimal usage of technology for achieving higher safety and productivity with minimal costs, within the mines. The incorporation of holistic ICT solutions for the industrial segment as a whole, offering a much-enhanced operational efficiency, productivity and connectivity enabling a safe working environment for the mining employees are some significant factors which are expected to help the smart mining market scale positively in the near future.

Increasing IoT Penetration to Lay Path into Future

Mining automation is a critical factor in mining innovation, where the Internet of Things is the chief architect for the automation. By enabling the Internet of Things, miners could increase the benefits further than mining automation, and enhance the information technology products and services. The need for innovation in the mining industry is on the rise, and IoT is making its way into mining plants.

Read details of the report at: http://orbisresearch.com/reports/index/global-smart-mining-market-analysis-of-growth-trends-and-forecasts-2018-2023

At present, the pace of technology-driven change has increased due to various factors, such as capital availability, geographical dispersion of critical operations, substantial differences in original equipment and control technologies, managerial conservatism and the inherent complexity of certain operations. In such scenario, investment in IoT helps in reducing energy expenditure and maintenance cost. Furthermore, it provides an efficient process where all the parts involved in the mining operation are monitored continuously. With this, it leads to a reduction in the cost spent on workers, which allows the industry to become profitable.

North America Holds the Largest Share

The discovery of shale formations, coupled with the global dependency on the oil & gas resources have created an unprecedented pace in the development of mining activities, especially in the oil & gas sector. With the changing supply structure, proper infrastructure development to ensure the efficient delivery of these supplies is crucial. Adequate infrastructure leads to the smooth functioning of the industry in the market. Strong demand for base and precious metals has driven the exploration, expansion, and growth of the metals and mining industry in North America.

Latest technological breakthroughs have aided the advancement of new smart mining systems that can make the overall processes more efficient and can significantly improve accuracy in various services and solutions. A series of mergers and acquisitions have been taking place in the United States to take advantage of this opportunity. The primary driver behind the investments has been the continuous evolution and application of new technologies, which were previously considered non-commercial. Owing to these series of investments, smart assets, smart logistics and smart safety & security systems are in place, and the US smart mining market is set to boom over the next five years. The increasing investment in ICT, enhanced safety of mineworkers and fluctuating commodity prices are the factors leading to the growth of the US smart mining market during the forecast period.

Fastest adaption of Smart Mining is observed in Underground Mines

Smart mining solutions play a key role in underground mining. The smart marking systems are helpful in collecting data about the flow of the ore, possible areas of extraction and potential dilutions in the mine. This kind of data is useful for mining organizations to draw possible strategies to maximize the ore recovery. Ventilation plays a considerable role in underground mining; the deployment of smart solutions is increasing, owing to the increasingly high rate of ventilation solutions developed by the vendors in the market. Safety concern of the miners has been the main reason behind the minimal intrusion of smart mining methods in underground mining, as the lack of proper ventilation techniques can result in challenging conditions for the workforce, and hence affect the productivity of the mining operation. The evolution of smart mining techniques is suited to ease the process of extraction by performing a preliminary analysis of the geospecific data, collected by the automated vehicles. The continuous tracking of the vehicle movement for delivery and other applications is monitored and controlled, which drastically reduces the possibility of accidents.

Key Developments

April 2017 - Cisco announced a planned series of initiatives in Kazakhstan to help accelerate the country’s digital transformation, over the next three years. Cisco is working to help improve the safety of the mining industry in Kazakhstan by developing a Collision Avoidance System. The system provides an early warning indication for mining vehicles to alerts drivers of nearby vehicles and workers. Also, Cisco is working with Kazatomprom, a national mining operator, to develop a Convergent Digital Mine Network that will connect previously separate networks for voice collaboration, industrial and automation control and office control

March 2017 - Gekko Systems and Rockwell Automation signed a Memorandum of Understanding (MoU) to develop software solutions that will assist mining customers across the globe to account for metal content in the various stages of ore processing plants and provide the analytical capability to audit and improve operating performance.

This report can be customized to meet your requirements.

Companies Mentioned:

Cisco Systems, Inc,
Wenco International Mining Systems Ltd (Hitachi Construction Machinery Co.Ltd),
Sap SE,
Rockwell Automation,
Komatsu Mining Corporation (Joy Global),
Symboticware Inc,
Abb Ltd,
Trimble Inc,
International Business Machines (Ibm) Corporation,
Atlas Copco,
Outotec Oyj,
Thingworx (Ptc Inc),
Hexagon Ab,
Intellisense Io

Enquire more details of the report at: http://orbisresearch.com/contact/purchase/2095395

Contact Info:
Name: Hector Costello
Email: sales@orbisresearch.com
Organization: Orbis Research
Address: 4144N Central Expressway, Suite 600
Phone: +1 (214) 884-6817

Source URL: https://marketersmedia.com/smart-mining-market-report-with-incorporation-of-latest-technologies-improving-efficiency-perfomance-top-investors-globally-foresight-to-2023/331895

For more information, please visit http://orbisresearch.com/reports/index/global-smart-mining-market-analysis-of-growth-trends-and-forecasts-2018-2023

Source: MarketersMedia

Release ID: 331895

Latest News

Markets Right Now: Stocks open higher on Wall Street

Aug 20, 2018

NEW YORK — The latest on developments in financial markets (all times local): 9:35 a.m. Stocks are opening higher on Wall Street, following an upbeat finish last week, amid signs of progress in resolving the trade dispute between the U.S. and China. Investors were also weighing the latest corporate earnings and deal news Monday. SodaStream jumped 9.8 percent after PepsiCo agreed to buy the Israeli fizzy drink maker for $3.2 billion. Tesla slumped 5.3 percent after JPMorgan cut its price target on the electric car maker. The S&P 500 index rose 6 points, or 0.3 percent, to 2,857. The Dow...

Venezuela nervously await dramatic economic reforms

Aug 20, 2018

CARACAS, Venezuela — Venezuela on Monday began to launch dramatic reforms announced by President Nicolas Maduro to rescue a downward-spiraling economy, including a new currency and a more-than-3,000 percent hike in the minimum wage. The changes start with the introduction of a currency that lops five zeros off the country's fast-depreciating bills. Maduro says he'll also raise gasoline prices to international levels — a combination of measures critics say will only make things worse. Opposition leaders seized on tension among residents, calling for a nationwide strike and protest Tuesday. They hope to draw masses into the streets against Maduro's socialist...

Born out of the financial crisis, bull market nears record

Aug 20, 2018

NEW YORK — The bull market in U.S. stocks is about to become the longest in history. If stocks don't drop significantly by the close of trading Wednesday, the bull market that began in March 2009 will have lasted nine years, five months and 13 days, a record that few would have predicted when the market struggled to find its footing after a 50 percent plunge during the financial crisis. The long rally has added trillions of dollars to household wealth, helping the economy, and stands as a testament to the ability of large U.S. companies to squeeze out profits...

Malaysia lobbies for Chinese help amid fiscal woes

Aug 20, 2018

BEIJING — Malaysia's leader said Monday that he hoped China would sympathize with his country's fiscal problems as he met with the country's leaders after suspending multibillion-dollar construction projects financed by Chinese loans. Prime Minister Mahathir Mohamad said at a news briefing with Chinese Premier Li Keqiang that he was seeking support from China's leaders over Malaysia's situation as it deals with a mass of debt and other economic problems created under previous administrations. "We hope also to get China to understand the problems we face ... and I hope that China, and I believe that China will look sympathetically...

Pakistan's 21-member Cabinet is sworn in; PM promises change

Aug 20, 2018

ISLAMABAD — Pakistan's 21-member Cabinet was sworn in Monday, a day after Prime Minister Imran Khan pledged to cut government spending, end corruption and repatriate public funds. President Mamnoon Hussain administered the oath of office to 16 federal ministers in Islamabad. Separately, Khan has also appointed five advisers to his Cabinet. Khan, whose populist party won most parliament seats in the July 25 elections but fell short of a majority, forcing it to form a coalition, took the oath of office on Saturday as Pakistan's 22nd premier. He campaigned on promises of rooting out endemic corruption and breaking powerful landowners'...

Search

Obserworld delivers the most accurate and up-to-date world news for the global audience with a thorough research and in-depth interviews. Discover the world through Obserworld.

Contact us: sales[at]obserworld.com