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Covid-19 Impact With Top Leading Players
Smart mining technologies include the integration of hardware and software to improve the mining productivities and reduce operational time and costs. Mining companies emphasize enhancing productivity by providing state-of-the-art software & solutions. These software & solutions are integrated with the equipment, personnel, and operations to obtain enhanced safety and higher material extraction from the mining operations. These technologies find applications in both underground and surface (open pit & open cast) mining operations.
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According to a new report published by Allied Market Research, titled, “Smart Mining Market by Type and Category: Opportunity Analysis and Industry Forecast, 2020–2027,” the global smart mining market size was valued at $9.3 billion in 2019 and is expected to reach $23.4 billion by 2027, growing at a CAGR of 16.3% from 2020 to 2027.
The surface mining operations mainly benefit by utilizing the autonomous robotic fleet used for loading, hauling & dumping (LHD) operations. In addition, increased awareness regarding the harsh influences of mining atmospheres caused by UV radiations, noise, dust, chemical hazards, poisonous gases, and others on the mineworkers drives the dependency on robotic equipment. The robotic equipment allows remotely controlled operations, which eliminates the exposure of this polluted environment on workers. This acts as one of the major driving factors for the global smart mining market growth.
Further, constant technological developments in software & solutions allow the mining companies to obtain proper risk management; thus, reducing the unplanned expenditure. For instance, by the integration of data analytic solutions, the sustainability, safety, and profitability of the mining site can be ensured to a great extent.
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Key Market Players
- ABB Ltd.
- Caterpillar Inc.
- Cisco Systems, Inc.
- Hexagon AB
- Hitachi Ltd.
- Komatsu Ltd.
- Robert Bosch GmbH
- Rockwell Automation Inc.
- Sandvik AG
- Trimble Inc.
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging global smart mining market trends and dynamics.
An in-depth analysis of the global market is conducted by constructing market estimations for the key market segments between 2019 and 2027.
Global smart mining market analysis is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global smart mining market forecast analysis from 2020 to 2027 is included in the report.
The key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the smart mining industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.