Smart mining refers to the use of information, autonomy, and technology to gain better productivity, safety, and reduce operational costs for a mine site. Mining companies focus to improve the productivity by offering innovative software & solutions. Smart mining also includes remote-controlled robotic machinery for mineral extraction, which is referred to as telerobotic mining and reduces the risk for miners. Caterpillar uses robots at Gabriela Mistral mine in Antofagasta to enrich the efficiency of maintenance services.
Increased focus on safety & health, accelerating adoption of IoT (internet of things) solutions, and rise in adoption of autonomous equipment drives the market growth. However, absence of highly skilled and qualified labor, availability of poor infrastructure and government regulations concerning air, water and overall environment quality restrict the headway. Nonetheless, plant automation and upsurge in digital mining concepts are expected to strengthen the growth. Smart mining market generated a revenue of $5,328 million in 2014 and is expected to reach a market value of $15,837 million by 2022 with a CAGR of 14.9%.
The market is classified on the basis of type, category, and geography. Type wise, the market is segmented into underground mining and surface or open pit mining.
By Category, the market is classified into automated equipment and component. The automated equipment includes excavators, load haul dump, drillers & brakers, robotic trucks, and other automated equipment. Excavators generated the highest revenue in the year 2014 owing to integration of high precision GPS system, laser scanners, and remote control solution while load haul dump is expected to generate notable revenue by 2022. Based on component, the market is categorized into hardware, software & solution, and services. Hardware component encompasses sensors, RFID tags, intelligent systems, and others. On the basis of software & solution, it is segmented into logistics software, data & operation management software, safety & security systems, connectivity solutions, analytics solutions, remote management solutions, and asset management solutions. By services, it is divided into support & maintenance (engineering services), system integration (deployment services), and consulting services. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific contributed the highest revenue in 2014 and is expected to dominate the market during the forecast period.
Key players that operate in this market are ABB Group, Rockwell Automation, Inc., Komatsu Ltd., Trimble Navigation Limited, Alastri, Caterpillar Inc., Hitachi Construction Machinery Co., Ltd., Joy Global Inc., Cisco Systems, Inc., and Hexagon AB.
The report includes an in-depth analysis of the world smart mining market, along with the current trends, drivers, restraints, and growth opportunities.
Porter’s Five Forces model illustrates the potency of buyers and sellers, which is expected to help the market players to adopt effective strategies.
Value chain analysis provides a clear understanding of the key intermediaries involved and their respective roles at every stage.
Key market players are profiled to gain an understanding of the strategies adopted by them.
The current market trends are quantitatively analyzed and estimated from 2016 to 2022, which are provided to highlight the financial competency of the market.
Surface Mining (Open Pit Mining or Open Cast Mining)
Driller & Braker
Load Haul Dump
Other Automated Equipment
Software & Solution
Data & Operation Management Software
Safety & Security Systems
Remote Management Solutions
Asset Management Solutions
Support & Maintenance (Engineering Service)
System Integration (Deployment Service)
Rest of Europe
Rest of Asia-Pacific
1.1 Report description
1.2 Key benefits
1.3 Key market segments
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
CHAPTER 2 EXECUTIVE SUMMARY
2.1 CXO perspective
CHAPTER 3 MARKET OVERVIEW
3.1 Market definition and scope
3.2 Key findings
3.2.1 Top impacting factors
3.2.2 Top winning strategies
3.2.3 Top investment pockets
3.3 Porters Five Forces Analysis
3.3.1 Global presence of top-notch market players results in high competitive rivalry
3.3.2 Government safety regulations and high IoT equipment costs result in high bargaining power of suppliers
3.3.3 Stringent government regulations and availability of large number of suppliers result in moderate to high bargaining power of buyers
3.3.4 Absence of substitute products result in low threat of substitute
3.3.5 High capital investment and strict government regulations reduces the threat of new entrants
3.4 Value chain analysis
3.5 Market share analysis, 2015
3.6 Federal laws governing mining industry in the U.S.
3.7 Market dynamics
220.127.116.11 Increased focus on safety & health
18.104.22.168 Accelertating adoption of iot (internet of things) solutions
22.214.171.124 Rise in adoption of autonomous equipment
126.96.36.199 Absence of high skilled and qualified labour
188.8.131.52 Absence of rich infrastructure
184.108.40.206 Government regulations concerning air, water and overall environment quality
220.127.116.11 Plant automation
18.104.22.168 Enhancement in digital mining concepts
22.214.171.124 Investment in rich mining infrastructure
CHAPTER 4 WORLD SMART MINING MARKET BY TYPE
4.1.1 Market size and forecast
4.2 Underground mining
4.2.1 Key trends
4.2.2 Key growth factors and opportunities
4.2.3 Market size and forecast
4.3 Surface mining
4.3.1 Key trends
4.3.2 Key growth factors and opportunities
4.3.3 Market size and forecast
CHAPTER 5 WORLD SMART MINING MARKET BY CATEGORY
5.1.1 Market size and forecast
5.2 Automated equipment
5.2.1 Market size and forecast
126.96.36.199 Key trends
188.8.131.52 Key growth factors and opportunities
184.108.40.206 Market size and forecast
5.2.3 Load haul dump
220.127.116.11 Key trends
18.104.22.168 Key growth factors and opportunities
22.214.171.124 Market size and forecast
5.2.4 Robotic truck
126.96.36.199 Key trends
188.8.131.52 Key growth factors and opportunities
184.108.40.206 Market size and forecast
5.2.5 Drillers & brakers
220.127.116.11 Key trends
18.104.22.168 Key growth factors and opportunities
22.214.171.124 Market size and forecast
5.2.6 Other automated equipment
126.96.36.199 Key trends
188.8.131.52 Key growth factors and opportunities
184.108.40.206 Market size and forecast
5.3.1 Market size and forecast
220.127.116.11 Market size and forecast
18.104.22.168 RFID tags
22.214.171.124.1 KEY TRENDS
126.96.36.199.2 KEY GROWTH FACTORS AND OPPORTUNITIES
188.8.131.52.3 MARKET SIZE AND FORECAST
184.108.40.206.1 KEY TRENDS
220.127.116.11.2 KEY GROWTH FACTORS AND OPPORTUNITIES
18.104.22.168.3 MARKET SIZE AND FORECAST
22.214.171.124 Intelligent system
126.96.36.199.1 KEY TRENDS
188.8.131.52.2 KEY GROWTH FACTORS AND OPPORTUNITIES
184.108.40.206.3 MARKET SIZE AND FORECAST
220.127.116.11.1 KEY TRENDS
18.104.22.168.2 KEY GROWTH FACTORS AND OPPORTUNITIES
22.214.171.124.3 MARKET SIZE AND FORECAST
5.3.3 Software & solution
126.96.36.199 Smart safety & security system
188.8.131.52.1 KEY TRENDS
184.108.40.206.2 KEY GROWTH FACTORS AND OPPORTUNITIES
220.127.116.11.3 MARKET SIZE AND FORECAST
18.104.22.168 Logistics software
22.214.171.124.1 KEY TRENDS
126.96.36.199.2 KEY GROWTH FACTORS AND OPPORTUNITIES
188.8.131.52.3 MARKET SIZE AND FORECAST
184.108.40.206 Asset performance management solution (APM)
220.127.116.11.1 KEY TRENDS
18.104.22.168.2 KEY GROWTH FACTORS AND OPPORTUNITIES
22.214.171.124.3 MARKET SIZE AND FORECAST
126.96.36.199 Remote management solutions
188.8.131.52.1 KEY TRENDS
184.108.40.206.2 KEY GROWTH FACTORS AND OPPORTUNITIES
220.127.116.11.3 MARKET SIZE AND FORECAST
18.104.22.168 Data and operation management solutions
22.214.171.124.1 KEY TRENDS
126.96.36.199.2 KEY GROWTH FACTORS AND OPPORTUNITIES
188.8.131.52.3 MARKET SIZE AND FORECAST
184.108.40.206 Connectivity solutions
220.127.116.11.1 KEY TRENDS
18.104.22.168.2 KEY GROWTH FACTORS AND OPPORTUNITIES
22.214.171.124.3 MARKET SIZE AND FORECAST
126.96.36.199 Analytics solutions
188.8.131.52.1 KEY TRENDS
184.108.40.206.2 KEY GROWTH FACTORS AND OPPORTUNITIES
220.127.116.11.3 MARKET SIZE AND FORECAST
18.104.22.168 Support and maintenance (Engineering Services)
22.214.171.124.1 KEY TRENDS
126.96.36.199.2 KEY GROWTH FACTORS AND OPPORTUNITIES
188.8.131.52.3 MARKET SIZE AND FORECAST
184.108.40.206 Consulting services
220.127.116.11.1 KEY TRENDS
18.104.22.168.2 KEY GROWTH FACTORS AND OPPORTUNITIES
22.214.171.124.3 MARKET SIZE AND FORECAST
126.96.36.199 System integration (deployment services)
188.8.131.52.1 KEY TRENDS
184.108.40.206.2 KEY GROWTH FACTORS AND OPPORTUNITIES
220.127.116.11.3 MARKET SIZE AND FORECAST
CHAPTER 6 WORLD SMART MINING MARKET BY GEOGRAPHY
6.2 North America
6.2.1 Key trends
6.2.2 Key growth factors and opportunities
6.2.3 Market size and forecast
6.3.1 Key trends
6.3.2 Key growth factors and opportunities
6.3.3 Market size and forecast
18.104.22.168 Rest of Europe
6.4.1 Key trends
6.4.2 Key growth factors and opportunities
6.4.3 Market size and forecast
22.214.171.124. South Korea
126.96.36.199. Rest of Asia-Pacific
6.5.1. Key trends
6.5.2 Key growth factors and opportunities
6.5.3 Market size and forecast
188.8.131.52 Latin America
184.108.40.206 Middle East
CHAPTER 7 COMPANY PROFILES
7.1 Rockwell Automation, Inc.
7.1.1 Company overview
7.1.2 Company snapshot
7.1.3 Operating business segments
7.1.4 Business performance
7.1.5 Strategic moves and developments
7.2 Trimble Navigation Limited
7.2.1 Company overview
7.2.1 Company snapshot
7.2.2 Operating business segments
7.2.3 Business performance
7.2.4 Strategic moves and developments
7.3 Cisco Systems, Inc.
7.3.1 Company overview
7.3.2 Company snapshot
7.3.3 Operating business segments
7.3.4 Business performance
7.3.5 Strategic moves and developments
7.4 ABB Ltd.
7.4.1 Company overview
7.4.2 Company snapshot
7.4.3 Operating business segments
7.4.4 Business performance
7.5 Hexagon AB
7.5.1 Company overview
7.5.2 Company snapshot
7.5.3 Operating business segments
7.5.4 Business performance
7.5.5 Strategic moves and developments
7.6 CATTERPILLAR INC.
7.6.1 Company overview
7.6.2 Company snapshot
7.6.3 Operating business segments
7.6.4 Business performance
7.6.5 Strategic moves and developments
7.7.1 Company overview
7.7.2 Company snapshot
7.7.3 Operating business segments
7.7.4 Strategic moves and developments
7.8 Hitachi, Ltd.
7.8.1 Company overview
7.8.2 Company snapshot
7.8.3 Operating business segments
7.8.4 Business performance
7.8.5 Strategic moves and developments
7.9 KOMATSU LTD.
7.9.1 Company overview
7.9.2 Company snapshot
7.9.3 Operating business segments
7.9.4 Business performance
7.9.5 Strategic moves and developments
7.10 JOY GLOBAL INC.
7.10.1 Company overview
7.10.2 Company snapshot
7.10.3 Operating business segments
7.10.4 Business performance
7.10.5 Strategic moves and developments
Factors such as increased focus on safety & health, rapid adoption of IoT solutions, and rise in adoption of autonomous equipment have boosted the overall market growth. However, dearth of highly skilled and qualified labor, availability of poor infrastructure, and stringent government regulations regarding air, water, and environment are the key restraining factors of the market.
Equipment manufacturer and software & service providers upgrade their equipment to improve the health and safety of workers. Therefore, renowned companies, such as Hexagon AB, and Komatsu Limited among others offer safety & security solutions, remote management software solutions, and other security solutions to improve productivity and achieve operational excellence. In addition, market players have focused on manufacturing mining products that do not affect landscape and vegetation.
Surface mining segment accounted for about 63% of the overall market revenue in 2014, which was more than that of the underground mining segment. Increase number of fatal accidents during surface mining has resulted in higher adoption of smart mining technologies in the mining industry. Smart mining requires strong infrastructure development, which is difficult for mining companies to implement due to the complexities involved in installation of these resources at underground mining sites. However, growing adoption of smart mining technologies in underground mining applications is expected to boost the market growth during the forecast period.
Excavator segment generated the highest revenue in the automated equipment market in 2014, accounting for around 31% share of revenue. High adoption of GPS technology and collision avoidance systems in automated excavators have facilitated smoother mining activity and increase in overall productivity.
Hardware segment generated the highest revenue in the component market in 2014. It accounted for around 41% in 2014, owing to increase in demand of these components at digital mining sites. Remote management solution is projected to be the fastest growing segments in the software & solutions market registering a CAGR of 17.1% from 2016 to 2022. In addition, support & maintenance segment is expected to generate the highest revenue in 2014 as support and maintenance are essential services at mining sites.
Moreover, intense competition and technological advancements in the Chinese market has led to significant adoption of automated equipment at mining sites. Implementation of Law of the Peoples Republic of China on Safety in Mines mandates the installation of ventilation system in underground shafts, gas controls, and dust control system, and fire-extinguishing systems to ensure safety during mining.
Automation in mining not only improves safety but also simplifies complex operations. Rio Tinto and BHP Billiton have established remote operation centers in Western Australia to improve worker productivity and achieve effective mine operations. In addition, the country focuses on establishing broadband networks to collect, monitor, and process data for process optimization. The network enables efficient use of resources, and facilitate efficient water and electricity usage for maintaining environmental and economic sustainability.
Asia-Pacific region generated the highest revenue in the global market, accounting for over 31% share in 2014. China witnessed tremendous growth in terms of adopting innovative technologies in the mining sector, followed by Australia, Japan, and South Korea. China is projected to grow at rapid rate registering a CAGR of 16.0% during the forecast period, owing to technology adoption and maintain ecological balance. In 2014, North America and Europe collectively accounted for about half of the total revenue of the smart mining market. Increasing use of cost-effective equipment in LAMEA region would create lucrative opportunities for the market. This region is expected to witness a notable growth, registering a CAGR of 15.3% during the forecast period.
Key Findings of Smart Mining Market Study:
Asia-Pacific region is expected to witness rapid growth in terms of revenue, registering a CAGR of 15.9% from 2016 to 2022.
Surface mining segment has witnessed significant growth in 2014, and is anticipated to dominate the overall market by 2022, registering a significant CAGR of 16.0%.
In 2014, hardware component segment accounted for the highest revenue share of over 41% and would dominate the market throughout the forecast period.
Remote management solutions segment is expected to grow at the highest CAGR of 17.1% during the forecast period.
Support and maintenance (engineering services) is expected to generate the highest revenue in the service market during the analysis period.
ABB Group, Rockwell Automation, Inc., Komatsu Ltd., Trimble Navigation Limited, Alastri, Caterpillar, Inc., Hitachi Construction Machinery Co., Ltd., Joy Global, Inc., Cisco Systems, Inc., and Hexagon AB are some of the prominent players operating in the market.
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- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
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