Market Research Report
Asia Pacific Smart Mining Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component ; Mining Type ; Hardware Type ; Software Type
|Published by||The Insight Partners||Product code||933100|
|Published||Content info||117 Pages
Delivery time: 1-2 business days
|Asia Pacific Smart Mining Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component ; Mining Type ; Hardware Type ; Software Type|
|Published: May 14, 2020||Content info: 117 Pages||
Asia Pacific Smart Mining Market Forecast to 2027 - COVID-19 Impact and Regional 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).
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.