Global Mining Automation Market
The Global Mining Automation Market was valued at USD 2.21 billion in 2016 and is projected to reach USD 4.00 billion by 2025, growing at a CAGR of 6.85% from 2017 to 2025.
Mining Automation involves the removal of human labor from the mining process. The mining industry can still require a large amount of human capital, particularly in the developing countries where labor costs are low so there is less incentive for increasing efficiency. Benefits of mining automation include environment friendly mining, safer mining through better oversight, fewer hazards for the workers, decreased process variability, higher quality products, low operating costs, better monitoring, less machinery wear, increased deposit yield, and overall process streamlining.
1. Market Drivers
1.1 Increasing digitization in mining operations
1.2 Evolution of smart connected mines
1.3 Rising need for worker safety
1.4 Reduced operational costs
1.5 Increasing demand for improving productivity
2. Market Restraints
2.1 Lack of skilled employees to operate automated mining equipments
2.2 Rapidly decreasing amount of natural resources
2.3 Issues with the integration of IT with operational technology
The Global Mining Automation Market is segmented on the type, technique, workflow, and region.
1.3 Communications systems
2. By Technique:
2.1 Surface mining
2.2 Underground mining
3. By Workflow:
3.1 Mining process
3.2 Mine maintenance
3.3 Mine development
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
8. Autonomous Solutions Inc.
9. Fluidmesh Networks
11. MST Global
12. Atlas Copco
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Mining Automation Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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