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 Thailand Tribunal

Chinese e-commerce giant Alibaba sets plans for Thailand

Apr 19, 2018

BANGKOK — The Chinese e-commerce giant Alibaba has agreed to step up investments in Thailand as competition between online retailers heats up in fast-growing Southeast Asia. The founder of the online shopping giant, Jack Ma, met with Thailand's prime minister, Prayuth Chan-ocha, on Thursday and later signed several agreements, including one to help set up a "smart digital hub" in a showcase project called the Eastern Economic Corridor, to facilitate trade between Thailand, China, Laos, Myanmar, Cambodia and Vietnam. Both Ma and Prayuth sought to allay concerns that Alibaba's growing involvement might increase Chinese influence without benefiting Thailand. Across the...

2,000 Kachin trapped by Myanmar fighting lack food, medicine

Apr 19, 2018

BANGKOK — Community leaders from the Christian ethnic Kachin community have called for urgent medical attention for about 2,000 civilians, including pregnant women and the elderly, trapped in the jungle where they fled to escape clashes between the Myanmar's army and the Kachin guerrillas in the country's north. The latest fighting in Kachin state's Tanai region — an area known for amber and gold mining — began in early April with government shelling and airstrikes in response to threats by the rebel Kachin Independence Army to retake lost territory. The Rev. Mung Dan, a Baptist community leader, said Wednesday the...

Russian sex guru, follower blame US for continued detention

Apr 19, 2018

PATTAYA, Thailand — A Russian sex guru and his followers, one of whom claims to have evidence of Moscow's interference in the 2016 U.S. presidential election, were acquitted Tuesday of violating labor laws in Thailand but still face other charges that could land them in prison for more than 10 years. Alexander Kirillov and follower Anastasia Vashukevich, a model and escort, told reporters they placed the blame for their continued detention on U.S. officials, to whom they previously appealed for help and political asylum. Vashukevich's earlier revelation of an alleged affair with Oleg Deripaska, a Russian oligarch close to President...

Myanmar takes back 1 Rohingya family despite UN concerns

Apr 19, 2018

BANGKOK — Myanmar has accepted what appears to be the first five among some 700,000 Rohingya Muslim refugees who fled to neighboring Bangladesh to escape military-led violence against the minority group, even though the United Nations says it's not yet safe for them to return home. A government statement said Saturday that five members of a family returned to western Rakhine state from the border area. The statement said authorities determined whether they had lived in Myanmar and provided them with a national verification card. The card is a form of ID, but does not mean citizenship — something Rohingya...

New Thai charges filed against Russian sex guru, woman

Apr 19, 2018

BANGKOK — Police in Thailand have filed new charges against a self-described Russian sex guru and a woman who claims to have evidence of Russian ties to President Donald Trump's election campaign. The woman, Anastasia Vashukevich, also known as Nastya Rybka, has attracted widespread attention for claiming to have recordings of Russian oligarch Oleg Deripaska, a crony of President Vladimir Putin, discussing interference in the U.S. election. She is being held in an immigration detention center and has said she fears for her life and pleaded not to be expelled to Russia. Col. Apichai Krobpetch, a police superintendent in Pattaya,...

About Us

Thailand Tribunal is the country’s next generation of digital news portal, bringing you non-stop news on the happenings in the country and all over the world.

Contact us: sales[at]thailandtribunal.com