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.
Browse full research report on Mining Automation Market: https://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: https://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
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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