DUBLIN--(BUSINESS WIRE)--The "Global Connected Mining Market Insights, Opportunity, Analysis, Market Shares And Forecast 2017 - 2023" report has been added to ResearchAndMarkets.com's offering.
The Global Connected Mining Market is Expected to Rise With the CAGR of About 21% During the Forecast Period 2016-2023.
This research estimates that the global connected mining market is anticipated to grow at a CAGR of 21% during the forecasted period. Rising adoption of Internet of Things (IoT) and enhanced safety and security of mine workers majorly contributes to the growth of the global connected mining market during the forecast period. However, lack of qualified and skilled labor and high investment costs are the factors that restrains the growth of global connected mining market during forecast period.
Geographically, North America accounted for the largest market share in terms of revenue for the connected mining market in 2016 and is expected to dominate the market during the forecast period. The dominance of North America is witnessed due to increasing need for mineral ores, growing number of mining projects and strict government mandates. ROW is expected to be the fastest growing region for the connected mining market during the forecast period due to rising technological advancements and increasing demand for mine plants with remote surveillance and collaborated environment.
The growth in the global connected mining market is also influenced by the presence of major market players such as Cisco Systems Inc, ABB Group, Trimble Navigation Limited, Rockwell Automation, Hexagon AB, Symboticware Inc. and SAP SE. To gain competitive advantage, the major players adopt strategies, such as mergers & acquisitions, joint ventures, etc.
Market Dynamics
Market Drivers
- Enhanced Safety and Security of Mine Workers
- Improved Productivity & Cost Efficiency
- Rising Adoption of Industrial Internet of Things
Market Restraints
- Lack of Qualified and Skilled Labor
- High Investment Cost
Market Opportunities
- Accelerating Market for System Integrators
- Evolution of Smart Mines
Market Challenges
- Lack of R&D
- Declining Natural Resource Reserves
Key Topics Covered:
1. Introduction
2. Market Overview
3. Market Determinants
4. Market Segmentation
5. Competitive Landscape
6. Geographic Analysis
7. Company Profiles
- ABB Group (Switzerland)
- Accenture (Ireland)
- Alastri (Australia)
- Caterpillar Inc. (U.S)
- Cisco Systems (U.S.)
- Hexagon Ab (Sweden)Overview
- Hitachi Construction Machinery Co. Ltd. (Japan)
- Intellisense (U.S.)
- Joy Global Inc. (U.S.)
- Komastu Ltd (Japan)
- Rockwell Automation (U.S)
- SAP Se (Germany)
- Symboticware Inc. (Canada)
- Thingworx (U.S)
- Trimble Navigation Limited (U.S)
For more information about this report visit https://www.researchandmarkets.com/research/gsldx6/global_connected?w=4
