NEW YORK, May 22, 2020 /PRNewswire/ -- Smart Mining Market
to 2027-Covid-19 Impact and Asia-Pacific Analysis by Component
(Hardware, Software and Solution, and Service); Mining Type
(Underground Mining, and Surface Mining); Hardware Type (RFID Tags,
Sensors, Intelligent System, Others); Software Type (Logistics
Software, Data & Operation management, Safety & Security
Systems, Connectivity Solutions, Analytics Solution, Remote
Management Solution, and Asset Management Solution and Country
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The smart mining market in Asia-Pacific is expected to grow from
US$ 4,332.9 Mn in 2019 to
US$ 16,245.8 Mn by 2027; it is
projected to grow at a CAGR of 18.2% during the forecast period.
The Asia-Pacific region includes
several developing economies, such as China, India,
South Korea, and Australia. These countries are witnessing
upsurge in the middle-class population and urbanization that offer
ample opportunities for key smart mining market players to expand
their customer base. Additionally, rapid technological
developments, growing government support, economy digitalization,
and rise in middle-class population with increasing disposable
income are among the factors that driving the transition from the
developing to developed economies in the region. Additionally, many
of the largest mining companies in the world reside in the region,
i.e., of the top 40 mining companies by market capitalization
globally, close to half are in or closely tied to the region. The
abovementioned factors are anticipated to contribute to the growth
of the smart mining market in Asia-Pacific.
The hardware segment led the Asia-Pacific smart mining market based on
component in 2018, and the segment is projected to continue this
dominance in the market during the forecast period.The smart safety
helmets have been developed with methane and carbon monoxide gas
sensors to warn underground coal mine workers about the
concentration of harmful gases exceeding a given limit.
Likewise, wearable cameras can be used at mining sites for many
purposes, depending on the characteristics of the mining
activity.
The overall Asia-Pacific smart
mining market size has been derived using both primary and
secondary sources.To begin the research process, exhaustive
secondary research has been conducted using internal and external
sources to obtain qualitative and quantitative information related
to the market.
It also provides the overview and forecast for the market based on
the segmentation pertaining to the market in Asia-Pacific.Also,
multiple primary interviews have been conducted with industry
participants and commentators to validate the data, as well as to
gain more analytical insights into the topic.
The participants who typically take part in such a process include
industry expert such as VPs, business development managers, market
intelligence managers, and national sales managers along with
external consultants such as valuation experts, research analysts,
and key opinion leaders specializing in the Asia-Pacific smart mining market. A few of the
players operating in the Asia-Pacific smart mining market are ABB Ltd,
Alastri, Caterpillar Inc, SAP SE, Trimble Inc, and Hitachi Ltd.
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