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

More News From Daily Tech Geek

Modi says India will send manned flight into space by 2022

Aug 21, 2018

NEW DELHI — India will send a manned flight into space by 2022, Prime Minister Narendra Modi announced Wednesday as part of India's independence day celebrations. He said India will become the fourth country after Russia, the United States and China to achieve the feat and its astronaut could be a man or a woman. The space capsule that will transport India's astronauts was tested a few days earlier. Rakesh Sharma was the first Indian to travel in space, aboard a Soviet rocket in 1984. As part of its own space program, active since the 1960s, India has launched scores...

Tehran cafe run by disabled raises spirits, combats stigma

Aug 21, 2018

TEHRAN, Iran — Melika Aghaei's fingers move slowly across the keys of the digital piano as she softly sings a children's song to the delight of the cafe's customers, while Mehdi Khakian takes orders for espressos and lattes. Located near the bustling Vanak Square in north Tehran, the "Downtism Cafe" stands out from other coffee shops in the affluent neighborhood for its unique staff. All have either Down syndrome, like Aghaei, or autism, like Khakian, and run the entire operation themselves. Opened only three months ago, the cafe — whose name combines "Down" with "autism" — is bustling. "All of...

Pakistan's new vaccination drive, 'final push' against polio

Aug 21, 2018

ISLAMABAD — A Pakistani health official says authorities have launched a week-long anti-polio campaign touted as a 'final push' against the crippling disease. Its aim is to vaccinate millions of children under 5 years of age. Dr. Rana Safdar, the campaign's national coordinator, says the campaign was launched on Monday amid tight security in 89 districts and towns with a total of 110,000 health workers who will fan out vaccinate 19.2 million children. He says the campaign will last for four days in some areas. Polio is still endemic in Pakistan, Afghanistan and Nigeria. But with just three cases reported...

Pakistan ex-PM returns to prison after heart scare

Aug 21, 2018

ISLAMABAD — A Pakistani official says former Prime Minister Nawaz Sharif has returned to his prison cell after being hospitalized with heart trouble over the weekend. Wasim Khwaja, an official at the Pakistan Institute of Medical Sciences, said Tuesday that Sharif's condition was stable when he left the hospital's cardiac center. Sharif was arrested along with daughter, Maryam Nawaz, upon returning home from London to face a 10-year prison sentence for corruption. His daughter was given seven years in the same case. He was dismissed from office by the Supreme Court last July. A court will hear their appeals on...

Bus falls into gorge in western India; 33 feared dead

Aug 21, 2018

MUMBAI, India — More than 30 people were feared dead after a bus fell into a deep gorge in western India on Saturday, an official said. The bus was carrying 34 employees of an agriculture university when it plunged off a mountain road while negotiating a curve in Raigad district of Maharashtra state, said civil administrator Vijay Suryawanshi. He said the bus fell into a deep, forested gorge. One man survived as he jumped out of the bus and later scaled onto the road to inform university officials about the accident, Suryawanshi said. He said the employees were on a...

About Us

Daily Tech Geek delivers Technology news only covering the multiple fields in the industry.

Contact us: sales[at]dailytechgeek.com

Subscribe Now!