WebsiteGear Logo Log In
New User? Sign Up
About | Contact | FAQ
  Home News Technology Software Products Saturday, October 20, 2018 
Add Press Release News | News Feeds Feeds | Email This News Email


Global Mining Automation Marketto 2025 - Increasing Need to Enhance Accuracy and Productivity of Mining Operations
Friday, August 10, 2018

DUBLIN, Aug 10, 2018 /PRNewswire/ --

The "Mining Automation Market Size, Share & Trends Analysis Report By Solution (Software Automation, Services, Equipment Automation), By Application (Metal, Coal, Mineral), And Segment Forecasts, 2018 - 2025" report has been added to ResearchAndMarkets.com's offering.

https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

The global mining automation market size is expected to reach USD 6.2 billion by 2025 at a CAGR of 7.3% during the forecast period. Increasing need to enhance accuracy and productivity of mining operations is expected to drive market growth.

Need for optimizing production costs, reducing human intervention, and changing the mining landscape are key growth-driving factors for the market. Increasing investment in digital technologies, including analytics and human-machine interactions, is also expected to be one of the key factors boosting industry growth. Furthermore, complex stages involved in supply chain activities and growing sophistication in mining operations are driving the need for automation and robotics technology in this sector.

Growing automation has led to adoption of drones as a step toward the evolution of unmanned and aerial data collection technology in mines. Automated drone systems are expected to become an essential technology in future mining automation and digitization activities.

Several companies such as Tata Steel, Rio Tinto Group, and Komatsu Ltd. are the early adopters of drone technology. Usage of these systems enables quick data collection by enhancing accuracy in designing mine plans and making necessary changes, thereby boosting operational productivity.

Changing mining landscape across the globe along with dependence on specific technologies is expected to create growth opportunities over the next few years. Such changes in operations are challenging the viability of traditional exploration and drilling technologies and processes, thereby providing opportunities for the adoption of new technologies.

Rising need for Geographic Information Systems (GIS) in mineral exploration activities has boosted market growth. GIS enables professionals to perform in-depth analysis of insights related to mineral exploration, mining conditions, and geochemical or hydrological data.

Several economies including India, Africa, and Brazil lack the potential for growth owing to use of conventional exploration techniques and equipment. Increased need for exploration in these economies with the adoption of advanced technologies is expected to accelerate demand for automated solutions over the forecast period.

Rising investments and government support, along with ongoing initiatives such as Digital Transformation Initiative (DFT) for a digital transition in the mining sector, would significantly boost the adoption of automated solutions. For instance, in 2017, the Government of Australia announced its plans to invest approximately USD 79 million to encourage medium- and small-sized miners to carry out exploration activities.

Further key findings from the report suggest:

    --  The equipment automation segment is projected to expand at a CAGR of
        7.5% over the forecast period. Retrofitting existing equipment with
        automated technology is expected to substantially contribute to segment
        growth
    --  The autonomous trucks sub-segment is expected to dominate the equipment
        automation segment over the forecast period, on account of their
        increased deployment to boost productivity and safety
    --  The metal mining application segment is expected to grow at a
        significant rate over the forecast period, which can be attributed to
        increased gold exploration activities globally
    --  The revenue share of Asia Pacific is expected to surpass 40.0% by 2025,
        owing to growing penetration of automation solutions in economies
        including Australia and India
    --  Prominent market players include Rockwell Automation, Inc.; Komatsu
        Ltd.; Rio Tinto Group; and Caterpillar Inc.

    --  Increased investments in developing automated solutions by either
        launching new products or retrofitting existing equipment are some of
        the growth strategies adopted by key players

Companies Mentioned

    --  Atlas Copco AB
    --  Autonomous Solutions Inc. (ASI)
    --  Caterpillar Inc.
    --  Hexagon AB
    --  Hitachi Construction Machinery Co, Ltd.
    --  Komatsu Ltd.
    --  Rio Tinto Group
    --  Rockwell Automation, Inc.
    --  Sandvik AB
    --  Siemens AG

For more information about this report visit https://www.researchandmarkets.com/research/tbf29v/global_mining?w=5


Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

View original content:http://www.prnewswire.com/news-releases/global-mining-automation-marketto-2025---increasing-need-to-enhance-accuracy-and-productivity-of-mining-operations-300695455.html

SOURCE Research and Markets



Email This News Email | Submit To Slashdot Slashdot | Submit To Digg.com Digg | Submit To del.icio.us Del.icio.us | News Feeds Feeds

RELATED NEWS ARTICLES
Nav Global Cloud Security Gateways Markets 2015-2024 | Oct 19, 2018
Nav Ultrain's Successful Launch of Public Testnet and Permitted Net; Smart Contract Development Framework is Now Available Open-Sourced | Oct 19, 2018
Nav PERSUIT partners with Fortune 10 company to disrupt legal spend and billing | Oct 19, 2018
Nav North America Retail Analytics Market to 2023: Emerging Demand for Pricing Optimization and Rising Adoption of Omni-Channel Business Model | Oct 19, 2018
Nav Global Hybrid Cloud Markets to 2022 - Continued Skepticism Over Security of Cloud Infrastructure | Oct 19, 2018
Nav Global Extended Reality (XR = Augmented Reality + Virtual Reality + Mixed Reality) Marketplace 2018-2023: Focus on Connected Devices, AI Chipsets, Equipment, Applications, Services and Solutions | Oct 19, 2018
Nav ZAFUL launches spooky specials for Halloween | Oct 19, 2018
Nav Middle East & Africa Retail Analytics Market to 2023: Growing Retail Industry and Increasing Urbanization and Commercialization | Oct 19, 2018
Nav Europe Retail Analytics Market Competition Forecast & Opportunities, 2023 - Rapid Adoption of New and Advanced Technologies | Oct 19, 2018
Nav RF Tunable Filter Market Worth $87.0 Million by 2023 - Exclusive Report by MarketsandMarkets(TM) | Oct 19, 2018
NEWS SEARCH

FEATURED NEWS | POPULAR NEWS
Submit News | View More News View More News