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.
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MINE PLANNING SOLUTIONS MARKET OUTLOOK
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.
MINE PLANNING SOLUTIONS MARKET SEGMENTAL OVERVIEW
The report analyses the global mine planning solutions market based on component, deployment, application and geography.
MINE PLANNING SOLUTIONS MARKET BY COMPONENT
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.
MINE PLANNING SOLUTIONS MARKET BY DEPLOYMENT
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.
MINE PLANNING SOLUTIONS MARKET BY APPLICATION
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).
MINE PLANNING SOLUTIONS MARKET BY GEOGRAPHY
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.
MINE PLANNING SOLUTIONS MARKET COMPETITOR ANALYSIS
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.
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