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Market Overview:
Key Market Trends:
Increasing Importance of Data Management and Analysis
Data management and analysis in the current market landscape has evolved to be of vital importance across different industries. Implementation of connected and automated systems, in order to harness artificial intelligence and utilize the mineโs idle data to make mines smarter for geological modeling and planning, is a recent trend in the industry.
Globally, mines are facing digital effectiveness as one of the major risks, and are thus making significant IT investments to increase their falling productivity. According to a McKinsey study, owing to inefficient systems, the mining industry recorded a fall of 3.5% in productivity.
Data from different deployed systems is being centralized to ensure effectiveness and productivity, thus eliminating the need for complicated manual systems. For instance, the Australian iron ore miner, CITIC Pacific Mining is utilizing SAP Vehicle Insights, a monitoring tool for light vehicles. While the tool provides basic logging and trafficking of the companyโs assets, it is also helping the company realize the additional benefits (a quick ROI).
The growing adoption of technology in the mining industry is in its nascent stage, there are certain enhancements required in the areas of storage and management of the security of data being generated. There is a huge growth potential for data management and analytics solutions in the mining industry, as the importance of cross-referencing the data from different departments is increasing, in order to develop holistic data-centric solutions, which can cover the entire operation in the mining location.
North America to Hold Major Share
In North America, the United States has been witnessing an economic dislocation with regard to its mining industry (especially coal mining), due to political sensitivity. This has led to plant idling and workforce reductions in these mines, which has been a challenging factor for the smart mining market. Dynamic regulations in the country, due to the changing political environment, is expected to challenge the position of smart mining system manufacturers. With increasing challenges, such as changing the sociopolitical environment, limited access to capital, rising costs, and resource nationalism, the industry in the region is seeking new ways to overcome these challenges. Smart mining initiatives by various major companies are expected to play a crucial role in overcoming the aforementioned challenges.
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Major Key Players are as Follows
Scope of the Report:
Geographical Regions:
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Topics such as sales and sales revenue overview, production market share by product type, capacity and production overview, import, export, and consumption are covered under the development trend section of the Smart Mining market report.
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Reasons to Purchase Smart Mining Market Report Covered:
- The report examines how Smart Mining market will develop in the future.
- Studying various views of the Smart Mining market with the help of Porterโs five forces analysis.
- Analyzing the product type that is probable to control the market and regions that are likely to witness the fastest development during the forecast period
- Identify the new developments, Smart Mining market shares and strategies employed by the key market players.
- Competitive landscape including the market share of major players along with the key strategies accepted for growth in the past five years
- Complete company profiles covering the product offerings, key financial information, current developments, SWOT analysis and strategies employed by the major Smart Mining market players
Detailed TOC of Smart Mining Market โ Growth, Trends, and Forecast (2019 โ 2024)
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Value Chain Analysis
4.3 Industry Attractiveness Porterโs Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Introduction to Market Drivers and Restraints
4.5 Market Drivers
4.5.1 Growing Focus on Safety and Health
4.5.2 Increasing Penetration of Internet of Things (IoT) Solutions in Mining
4.6 Market Restraints
4.6.1 Lack of Qualified and Highly-skilled Labor
4.6.2 Challenging Equipment Management
5 MARKET SEGMENTATION
5.1 Solution and Service
5.1.1 Solution
5.1.1.1 Smart Control System
5.1.1.2 Smart Asset Management
5.1.1.3 Safety and Security System
5.1.1.4 Data Management and Analytics Software
5.1.1.5 Monitoring System
5.1.1.6 Other Solutions
5.1.2 Service
5.1.2.1 System Integration
5.1.2.2 Consulting
5.1.2.3 Engineering and Maintenance
5.2 Mining Type
5.2.1 Underground Mining
5.2.2 Surface Mining
5.3 Geography
5.3.1 North America
5.3.2
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Cisco Systems Inc.
6.1.2 Wenco International Mining Systems Ltd
6.1.3 SAP SE
6.1.4 Rockwell Automation Inc.
6.1.5 Komatsu Mining Corporation (Joy Global)
6.1.6 Symboticware Inc.
6.1.7 ABB Ltd
6.1.8 Trimble Inc.
6.1.9 IBM Corporation
6.1.10 Atlas Copco
6.1.11 Outotec OYJ
6.1.12 Hexagon AB
6.1.13 Intellisense.IO
6.1.14 ABB Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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