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

Avicii, DJ-producer who performed around the world, dies

Apr 20, 2018

NEW YORK — Avicii, the Grammy-nominated electronic dance DJ who performed sold-out concerts for feverish fans around the world and also had massive success on U.S. pop radio, died Friday. He was 28. Publicist Diana Baron said in a statement that the Swedish performer, born Tim Bergling, was found dead in Muscat, Oman. "It is with profound sorrow that we announce the loss of Tim Bergling, also known as Avicii," the statement read. "The family is devastated and we ask everyone to please respect their need for privacy in this difficult time. No further statements will be given." No more...

From far and wide, Beyonce brings excitement to HBCU culture

Apr 20, 2018

ATLANTA — When Beyonce paid tribute to historically black colleges at Coachella, the singer's grand performance reignited interest in the marching band culture and created shockwaves of excitement to students attending those schools. From far and wide, some HBCU students are saying Beyonce's routine was the main topic on their campus this week — even over finals. The singer's high-energy festival set over the weekend involved a black college marching band, dance troupes and step teams along with her singing "Lift Every Voice and Sing," known as the national black anthem. "It's what everyone has been talking about. All my...

Doc series revisits death of Trayvon and birth of a movement

Apr 20, 2018

NEW YORK — Six years after his death, Trayvon Martin's name is known throughout the country as a symbol of social injustice and a rallying cry for the Black Lives Matter movement his killing helped forge. Yet Trayvon was initially identified by the authorities as a "John Doe," something that his father, Tracy Martin, still finds unsettling. It took enormous pressure for the police to release Zimmerman's 911 calls from that evening, which captured George Zimmerman chasing after the hoodie-clad high-schooler, who was armed only with Skittles and an Arizona Iced Tea. It was six weeks before Zimmerman, who was...

Natalie Portman snubs 'Jewish Nobel,' triggers backlash

Apr 20, 2018

JERUSALEM — Actress Natalie Portman has snubbed a prestigious prize known as the "Jewish Nobel" because of "extreme distress" over recent events in Israel, triggering an angry backlash Friday from some in the country's political establishment. Portman was to have received the award in Israel in June, but told the Genesis Prize Foundation through a representative that she would "not feel comfortable participating in any public events in Israel." The movie star did not elaborate as to what had made her feel that way. The country faces some international criticism over its use of lethal force in response to mass...

'Scandal' cast participates in live reading of final episode

Apr 20, 2018

LOS ANGELES — Kerry Washington hopes that when people look back on "Scandal," they remember the show as courageous and bold. The woman who made the character Olivia Pope a household name spoke about the ABC series' impact as it aired its final episode after seven seasons on Thursday. While most fans were watching on TV, a few lucky ones were able to watch Washington, Tony Goldwyn, Bellamy Young and other cast members do a live reading of the show at El Capitan Theatre in Los Angeles. The special event was a benefit for The Actors Fund charity. During the...

Search
Broaden

Asean Scoop delights in the creative world of the Entertainment industry providing an inside look on various aspects.

Contact us: sales@aseanscoop.com