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.
Access Research Report
of Mining Automation Market@
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..
Browse more reports of this category by Grand View
Research at: 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
o
Implementation and Maintenance Services
o
Training Services
o
Consulting Services
·
Equipment Automation
o
Autonomous Trucks
o
Remote Control Equipment
o
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
o
U.S.
o
Canada
·
Europe
o
Germany
o
U.K.
·
Asia Pacific
o
China
o
India
o
Japan
o
Australia
·
Latin America
o
Brazil
o
Mexico
·
MEA
Access Press Release of Mining Automation Market Research
Report @: www.grandviewresearch.com/press-release/global-mining-automation-market
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