Market Research Report
Europe 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||933109|
|Published||Content info||117 Pages
Delivery time: 1-2 business days
|Europe 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||
Europe 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 Europe is expected to grow from US$ 1986.5 Mn in 2019 to US$ 7,968.8 Mn by 2027; it is projected to grow at a CAGR of 19.2% during the from 2020 to 2027. The consumption of industrial minerals and metals in Europe has increased in the past few years. The increasing demand for minerals and metals is leading to the rapid expansion of mining activities that drives the growth of the smart mining market in Europe. The European countries are witnessing upsurge in the middle-class population along with the rise in urbanization that offer ample opportunities for the key smart mining market players. These factors are anticipated to contribute to the growth of the smart mining market in Europe. The European mining industry excels in the underlying the development and implementation of smart mining techniques, enabling sustainable extraction and ore processing under technically and economically viable conditions, alongside meeting stringent environmental standards. Moreover, the industry is considered as one of the most innovative mining industries in the world. Discovering mining and ore dressing requires primary emphasis on the process of research and development. High-tech smart mining setups support mining extraction, exploration, and beneficiation. The mining industry in European countries also promotes advancements in the areas of environmental, health, and safety protection.
The hardware segment led the European smart mining market based on component in 2018. There has been wide demand for wearable devices in the mining industry to regulate production processes in hard rock mines, health and safety management in coal mines, and monitor environmental quality in industrial mineral mines. For example, a smart safety helmet has 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.
The overall European 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 Europe. 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 Europe smart mining market ABB Ltd, Alastri, Caterpillar Inc, SAP SE, Trimble Inc, and Hitachi Ltd are among the players operating in the Europe smart mining market.