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

Global markets sink on growth concerns, Turkey jitters

Aug 16, 2018

BANGKOK — Stock markets turned lower Wednesday amid concerns about economic growth and continued tensions over Turkey, which announced it was increasing tariffs on imports of some U.S. products. KEEPING SCORE: Germany's DAX fell 1.1 percent to 12,220 and in France, the CAC 40 dropped 1.2 percent to 5,339. Britain's FTSE 100 was down 1.1 percent at 7,525. The futures contracts for the S&P 500 index and the Dow Jones industrial average were both down 0.6 percent. ASIA'S DAY: Japan's Nikkei 225 index fell 0.7 percent to 22,204.22 and in Hong Kong, the Hang Seng dropped 1.6 percent to 27,323.59....

World markets unnerved by Turkey's financial turmoil

Aug 16, 2018

BANGKOK — World stock markets fell Friday, particularly in Europe, as investors worried about the financial stability of Turkey, where the currency has nosedived. KEEPING SCORE: Germany's DAX fell 1.7 percent to 12,466 and the CAC 40 in France fell 1.2 percent to 5,436. Britain's FTSE 100 sank 0.6 percent to 7,692. The future contract for the Dow Jones industrial average was down 0.4 percent and the contract for the S&P 500 lost 0.5 percent. ASIA'S DAY: Japan's Nikkei 225 index lost 1.3 percent to 22,298.08 and Hong Kong's Hang Seng gave up 0.8 percent to 28,366.62. The Shanghai Composite...

Asian shares slip despite upbeat Japanese economic data

Aug 16, 2018

BANGKOK — Shares were lower in Asia on Friday, tracking losses on Wall Street, despite the release of data showing Japan's economy resumed its longtime expansion in the last quarter. KEEPING SCORE: Japan's Nikkei 225 index lost 0.7 percent 22,444.10 and Hong Kong's Hang Seng gave up 0.5 percent to 28,473.94. The Shanghai Composite index fell 0.1 percent to 2,790.53 and Australia's S&P ASX 200 declined 0.2 percent to 6,287.70. India's Sensex fell 0.2 percent to 37,944.19. Shares were lower in Taiwan, Thailand and Singapore but rose in Indonesia. JAPAN GDP: The economy expanded at a 1.9 percent annual pace...

Thai monk who flew in high style gets prison for fraud

Aug 16, 2018

BANGKOK — A former Buddhist monk who became infamous for a jet-set lifestyle has been sentenced to more than 100 years in prison in connection with funds he raised from followers. Wirapol Sukphol appeared in 2013 on a YouTube video in his monk's robe aboard a private jet with a Louis Vuitton carry-on and wearing aviator sunglasses. He was also accused of sexual peccadilloes, and fled to the United States, from where he was extradited last year. The Ratchada Criminal Court in Bangkok sentenced him Thursday to 114 years in prison for fraud, money laundering and violation of the computer...

Boys rescued from cave, once stateless, get Thai citizenship

Aug 16, 2018

BANGKOK — Three young soccer players and their coach, who were rescued with other teammates after almost three weeks in a flooded cave, were granted Thai citizenship on Wednesday. All four had been stateless, and their lack of citizenship deprived them of some basic benefits and rights, including the ability to travel outside of Chiang Rai, the northern province where they live. The area is home to ethnic minorities with roots in neighboring Myanmar. In all, 12 boys and their 25-year-old coach were trapped by the flooding until their dramatic rescue by Thai navy SEALs and other experienced divers that...

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