Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Growing popularity of Industry 4.0 technologies such as automation, data analytics, and the industrial Internet, mining companies are gaining the opportunity to solve complex and previously intractable problems related to their value chains which is likely to have positive impact on product demand. Moreover, growing need for operational efficiency along with cost reduction will favour market growth.
The mining sector would benefit tremendously by using digital, technology and data analytics to optimize operations, asset performance and reduce risk which has led to shifting trends towards digitalization in mine industry which is likely to propel mine planning solutions demand. In planning for future of operations mining leaders are seeking to turn challenges into opportunities by increasingly looking to the suite advanced technologies related to artificial intelligence (AI), which is likely to open new opportunities for mine planning solution providers to enhance their business.
The report analyses the global mine planning solutions market based on component, deployment, application and geography.
Various components studied are segmented into solutions and training & services. The solutions are further divided into integrated and standalone solutions. Standalone solutions are further divided into designing, scheduling, drill & blast, and geology. While the cost of machinery used in mining has been increasing especially for metals and coal producers facing thin or negative profit margins the cost of information has been falling, creating opportunities to use IT to optimize the use of mining equipment and boost returns on investment, thus, and accelerating market growth for solution.
Furthermore, deployment models studied in the market includes on premise and cloud based. Most mining machinery produces a continuous stream of data which can be monitored to support predictive maintenance of vehicles and plant machinery, decreasing expensive failures and increasing productivity.
Various application considered in this study includes open mining surfaces and underground mining surfaces. Open mining surfaces dominated the mine planning solutions market and will continue its dominance in coming years owing to high adoption of mine planning owing to achieve a yearly extraction plan which guides the mining operation to the highest Net Present Value (NPV).
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. Asia Pacific region is a major consumer for mine planning solutions and is anticipated to observe fastest growth in coming years. Increasing investments information technology and digitalization in mining sector mainly in China and India along with inclusion of IoT based products in mining sector would further drive the market demand over the coming years.
The key competitors of this market include Bentley Systems, Incorporated, Dassault Systems, Hexagon Ab, Infosys Limited, John Wood Group Plc, Micromine Pty Ltd., Minemax Pty. Ltd, Rpmglobal, Trimble Inc., Vareli Tecnac Pvt. Ltd.
The report analyses the global mine planning solutions market based on component, deployment, application and geography. Various components studied are segmented into solutions and training & services. The solutions are further divided into integrated and standalone solutions. Furthermore, deployment models studied in the market includes on premise and cloud based. Various application considered in this study includes open mining surfaces and underground mining surfaces. The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America comprises of U.S., Canada and Mexico. Whereas, Europe covers UK, France, Germany, Italy, Spain and Rest of Europe. The key countries included under Asia Pacific are China, India, Japan, Australia and Rest of Asia Pacific. The Rest of the world includes Latin America and Middle East & Africa.
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