July 31, 2020

Global Smart Mining Market to Witness a CAGR of 14.5% from 2014 to 2020, Driven by Improved Safety and Enhanced Operational Efficiency

This Future Market Insights (FMI) report examines the ‘Smart Mining market for the period 2015–2020. The primary objective of the report is to offer updates on the advancements in ICT and embedded systems that have given rise to a futuristic technology: the smart mining, which is significantly transforming mining operations.

Smart mining refers to the integrated Information and Communications technology (ICT) solutions for the entire supply chain of the mining industry, enabling efficient connectivity among supervisors, workers, and technicians to allow optimal production and recovery with least or no wastages at any level with safer and environmental friendly nature. Mining industry is shifting towards faster, safer and more perfect production techniques. Additionally, cost cutting strategy has provided competitive edge and encouraged organizations to adopt new technologies, which ensures improved operations and output both in quality and quality.

In the next section, FMI covers the Global Smart Mining market performance in terms of Global Smart Mining revenue split, since this is detrimental to growth of the Smart Mining market. This section additionally includes FMI’s analyses of the key trends, drivers and restraints from the supply, demand and economy side, which are influencing the Global Smart Mining market. Impact analysis and latest technological trends opportunity assessment is included in the Global Smart Mining market report to better equip and arm clients with crystal clear decision-making insights.

The primary focus of the following sections to analyse the Global Smart Mining market by adoption among mining companies; the primary segment covered under the scope of the report are automated equipment and component uptake among mine operators. A detailed analysis has been provided for every level of segment and sub-segment in terms of Market Value Forecast.

As highlighted earlier, Global Smart Mining is an aggregation of automated equipment (including driller & breaker, load haul dump, mining excavator and other equipment) and component (including hardware, solution and service). All these sub-segments are included in this section to make the study more comprehensive.

The next section of the report highlights automated equipment and component adoption by geography. It provides a market outlook for 2015–2020 and sets the forecast within the context of the smart mining ecosystem, including automated equipment and component to build a complete picture at regional and country levels. This study discusses the key regional trends contributing to growth of the smart mining equipment and component market on a regional basis. Key regions/country assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific Excluding Japan (APEJ), Japan and Middle East & Africa (MEA).

All the above sections, by automated equipment, by component and by regions, evaluate the present scenario and the growth prospects of the Global Smart Mining market for the period 2015 –2020. We have considered 2013 as the base year and provide data for the trailing 12 months.

To calculate the Global Smart Mining Market Value Forecast, we have considered revenue generated from the sale of automated equipment and component (including hardware, solution and service availed). The forecast presented here assesses the total revenue by value across the Global Smart Mining market. In order to offer an accurate forecast, we started by sizing the current market, which forms the basis of how the Global Smart Mining market will develop in the future. Given the characteristics of the market, we triangulated the outcome of three different types of analyses, based on supply side, consumer spending and economic envelope. However, forecasting the market in terms of various automated equipment, component and region/country is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.

In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the Global Smart Mining market.

As previously highlighted, the Global Smart Mining market is split into a number of sub categories. All the Smart Mining sub-categories in terms of automated equipment, component and region/country analysed in terms of Basis Point Share (BPS) to understand individual segments’ relative contributions to market growth. This detailed level of information is important for the identification of various key trends of the Global Smart Mining market.

Also, another key feature of this report is the analysis of all key Global Smart Mining market segments, sub-segments, regional/country adoption and verticals revenue forecast in terms of absolute dollar. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the Global Smart Mining market.

Furthermore, to understand key growth segments in terms of growth & adoption of automated equipment and component across regions/country, Future Market Insights developed the Global Smart Mining Market Attractiveness Index. The resulting index should help providers identify real market opportunities.

In the final section of the report, Global Smart Mining Market Competitive landscape is included to provide report audiences with a Dashboard view, based on categories of provider in the value chain, presence in automated equipment and component portfolio and key differentiators. Key categories of providers covered in the report are automated equipment and smart mining solution providers. This section is primarily designed to provide clients with an objective & detailed comparative assessment of key providers specific to a market segment in the Global Smart Mining market value chain. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on in-depth assessment of capabilities and success in the Global Smart Mining marketplace. Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the Global Smart Mining space. Key competitors covered are ABB Ltd., Atlas Copco, Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., Joy Global Inc., Komatsu Ltd., Outotec Oyj, Cisco Systems Inc., and Alcatel-Lucent.

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

Key Companies

  • ABB Ltd.
  • Atlas Copco
  • Caterpillar Inc.
  • Hitachi Construction Machinery Co. Ltd.
  • Joy Global Inc.
  • Komatsu Ltd.
  • Outotec Oyj
  • Cisco Systems Inc.
  • Alcatel-Lucent

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