Latest TMR Report Explores Impact of COVID-19 Outbreak on Smart Mining Market

Transparency Market Research states that key players operating in the global smart mining market are likely to make significant investments in research and development. Market players are expected to focus on development and launch of new products, profitable partnerships, and consistent efforts toward expanding their product portfolio. Some of the leading companies in the global market are ABB Ltd., Atlas Copco, Caterpillar Inc., Hitachi Construction Machinery Co., Ltd., Joy Global Inc., and Komatsu Ltd. Analysts point to the fact that emerging economies, especially in Asia Pacific, are likely to offer several lucrative opportunities to these players in the foreseeable future.

Request PDF Brochure : https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=11372

According to the research report, the global smart mining market is likely to be worth US$ US$16.25 bn by the end of 2025 from US$6.80 bn in 2016, with a strong CAGR of 10.2%. Out of various equipment, the automated excavators are projected to lead the global market. Their improved safety has been identified as their unique selling point. Geographically, Asia Pacific has been estimated to stand out amongst all the other regional markets.

REQUEST FOR COVID19 IMPACT ANALYSIS : https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=11372

The global smart mining market has been witnessing a soaring rise in the past few years as the demand for resources has remained high. Smart mining equipment has been developed for putting the concerns pertaining mining operations at ease. The global mining industry are tremendously benefitted with advent and uptake of Internet of Things. Automated excavators, load haul dumps, drillers and beakers, and robotic truck have made mining and exploration activities safer in remote locations. Usage of technology for mining has allowed mining companies to maximize their profits in recent years. The research report states that the demand for smart mining equipment will gain additional momentum as the need to optimize production is a pressing one. With improved commercial sales and profitability, the mining companies are expected to newer avenues to venture into.

Explore Transparency Market Research’s award-winning coverage of the global (Energy) Industry:
http://www.prnewswire.com/news-releases/rising-international-sea-trade-will-help-bunker-fuel-market-revenue-to-reach-worth-of-us177-8-bn-by-2027-end-observes-tmr-301022269.html

On the other hand, the capital-intensive nature of the smart mining equipment is expected to tug the market in the opposite direction. Furthermore, lack of awareness about technologies in developing economies is also anticipated to hamper market growth. The abundance of cheap labor in the emerging economies of Asia Pacific has been identified as a challenge to the global smart mining market. However, discovery tougher terrains is expected to boost the demand for smart mining equipment in the near future.

Smart Mining Market: By Automated Equipment
Excavators
Load Haul Dump
Drillers & Breakers
Robotic Truck
Other Automated Equipment

Smart Mining Market: By Hardware Component
Sensors
RFID Tags
Intelligent Systems
Others

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com

About Us:

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

This release was published on openPR.