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, according
to a report by Grand View Research, Inc. 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.
Full
Research Report On Global Mining Automation Market Analysis:
www.grandviewresearch.com/industry-analysis/mining-automation-market
www.grandviewresearch.com/industry-analysis/mining-automation-market
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.
View more
reports of this category by Grand View Research at:
www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the global mining automation market on
the basis of solution, application, and region:
Mining
Automation Solution Outlook (Revenue, USD Million, 2014 - 2025)
- Software
Automation
- Services
- Implementation
and Maintenance Services
- Training
Services
- Consulting
Services
- Equipment
Automation
- Autonomous
Trucks
- Remote
Control Equipment
- Teleoperated
Mining Equipment
Mining
Automation Application Outlook (Revenue, USD Million, 2014 - 2025)
- Metal
Mining
- Mineral
Mining
- Coal
Mining
Mining
Automation Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia
Pacific
- China
- India
- Japan
- Australia
- Latin
America
- Brazil
- Mexico
- MEA
View press
release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-mining-automation-market
www.grandviewresearch.com/press-release/global-mining-automation-market
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more
information: www.grandviewresearch.com
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