Digitalization In Mining Market report explores and analyses the essential factors of market depending on present industry situations, market needs, business strategies and the growth condition.
Dallas, United States – May 24, 2021 /MarketersMedia/ —
Digital mining solutions involve deep learning algorithms and the particle size analysis solutions make use of stereo imaging which provides round-the-clock monitoring. With the help of digital transformation, including the primitive stages, the market players in the digital mining industry can enhance safety, improve production, reduce costs and increase productivity rapidly with the assistance provided by data visualization over the complete value chain. One of the crucial benefits of growing number of technologies for mining is that it can be used to reasonable variability caused by external forces like the events created by the miners themselves. That is the reason why the industrial internet is vital for the mining in future. The Digitalization in Mining industry has witnessed a gigantic development in recent years on global level. The growth of the digital mining industry is accredited by numerous growth propelling aspects. Despite of several booms in the industry in the past decade the nature of mining has been constant.
The Global market for Digitalization in Mining was valued at USD 4,995.4 million in 2018 and is likely to surge during the forecast period.
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The major aspect causing this upsurge in the growth of the market is the consistent demand for breakthrough technologies and techniques for the enhancement of productivity and performance in mining industry. The players in the industry have not yielded much with the already existing strategies of exploiting existing assets. The reduction in commodity rates coupled with maturing of existing mines has caused a cash flow reduction issue. The adoption of digitalization in mining sector helps in encountering this issue which is causing rise in demand for digital mining. Several government supportive initiatives taken and rising awareness related to environmental hazards are some of the aspects that are anticipated to propel the growth of the digital mining industry in future years. Asset data and digitized geological engineering, automation and remote operation, real-time capture, wearables and drones are some of the primary features in the major operational processes.
Over the time the players in the mining industry shifted from their already existing strategies to new business and operating models as fast as possible. These new plans involved the use of digital capabilities and tools including the Internet of Things (IoT), cloud-enabled mobility and big data-powered analytics. This rising number of adaptation of digitalization among the players is anticipated to boost the growth of the industry. However, the players adopting these technologies also face some challenges. The transformation while continuing the business causes many complications which are addressed being one the crucial challenges. In addition to that, the lack of skilled labor and finding the right balance between adoption of technology and future competitiveness are also some of the major hurdles for the Digitalization in Mining Market. Nevertheless, machines learning and analytics algorithms included in the digitalization of mining provide miners to pull out strategic business insights from their data which in turn is gaining massive traction across the globe and boosting growth of the industry.
The major players of the global digital mining market include Caterpillar Inc., SAP, ABB, Wipro, IBM Services, Hatch Ltd, Hexagon Mining Inc., Rockwell, Sandvik, and Cisco.
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Key Segments of the Global market for Digitalization in Mining
Type Overview, 2015-2025 (USD Billion)
Ultrasonic
Smart Sensors
Autonomous Operations
3D Printing
Connected Worker
Remote Operations Center
Asset Cyber Security
Integrated Platforms
Advanced Analytics
Application Overview, 2015-2025 (USD Billion)
Mining
Metallurgy
Regional Overview, 2015-2025 (USD Billion)
North America
U.S.
Canada
Europe
France
UK
Germany
Italy
Russia
Rest of Europe
Asia Pacific
India
Japan
China
Australia
Rest of APAC
Central & South America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
Some Major Points from Table of Contents:
Chapter 5 Market Share by Key Players
5.1 Digital Mining Market Size by Players
5.1.1 Global Digital Mining Revenue by Players
5.1.2 Global Digital Mining Revenue Market Share by Players
Chapter 6 Key Players Profiles
6.1 Caterpillar Inc.
6.1.1 Company Overview
6.1.2 Product offerings
6.1.3 Financial performance
6.1.4 Recent strategic initiatives
6.2 SAP
6.2.1 Company Overview
6.2.2 Product offerings
6.2.3 Financial performance
6.2.4 Recent strategic initiatives
6.3 ABB
6.3.1 Company Overview
6.3.2 Product offerings
6.3.3 Financial performance
6.3.4 Recent strategic initiatives
6.4 Wipro
6.4.1 Company Overview
6.4.2 Product offerings
6.4.3 Financial performance
6.4.4 Recent strategic initiatives
6.5 IBM Services
6.5.1 Company Overview
6.5.2 Product offerings
6.5.3 Financial performance
6.5.4 Recent strategic initiatives
6.6 Hatch Ltd
6.6.1 Company Overview
6.6.2 Product Offerings
6.6.3 Key Strategic Initiatives
6.7 Hexagon Mining Inc.
6.7.1 Company Overview
6.7.2 Product Offerings
6.7.3 Financial performance
6.7.4 Key Strategic Initiatives
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a Market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable Market insights to help create opportunities that increase their revenues. We follow a code- Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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Source URL: https://marketersmedia.com/digitalization-in-mining-market-competitive-landscape-research-methodology-business-opportunities-statistics-and-industry-analysis-report-by-2025/89018741
Source: MarketersMedia
Release ID: 89018741
