HOME › Research Insight › Technological giants such as ABB Group, SAP SE, Cisco Systems, Inc., Rockwell Automation, Hexagon AB, and Trimble Navigation Ltd., have Created Leading Connected Mining Solutions and Services
Technological giants such as ABB Group, SAP SE, Cisco Systems, Inc., Rockwell Automation, Hexagon AB, and Trimble Navigation Ltd., have Created Leading Connected Mining Solutions and Services
Connected mining market is expected to gain traction globally due to the rising ICT expenditure in mining industry, cost efficiency, and rising use of Industrial Internet of Things (IIoT) technology. Depleting surface ores and volatile commodity prices are the major factors adding to the growth of this market. However, factors such as lack of qualified skill workers and integration of IT & OT technologies are some of the pivotal factors hindering the growth of the market but expected to be impactful for only a short period of time.
Technological giants such as ABB Group, SAP SE, Cisco Systems, Inc., Rockwell Automation, Hexagon AB, and Trimble Navigation Ltd., have created leading connected mining solutions and services to cater to the fluctuating needs and demands of the market. These players adopted various growth strategies, such as expansions, acquisitions, agreements, and joint ventures with partnerships and new product launches being the key strategies. Partnerships and agreements have been a major strategical trend, accounting for almost half of the market share of all the growth strategies adopted by the major market players.
Cisco Systems, Inc. and Hexagon AB are the two key players who adopted these strategies to grow in the market. Cisco Systems, Inc., has adopted a strategic mix of organic and inorganic growth strategies, such as new product launch and partnerships to expand its presence in new regions. Some of the new developments of Cisco include partnership with Rockwell Automation (U.S.), a global provider of automated solutions. The partnership enables to bridge the communication gap between mining operations and business systems. The company also launched two solutions namely Secure Ops and Cisco Collaborative Operations for risk management in critical mining environment.
Hexagon AB is also one of the leading players whose main strategic move is based on strengthening its product portfolio in the rapidly growing areas of the market. The company has introduced Minesight 3D, a mine planning solution for real-time analysis of mining operations and a monitoring solution, which keeps a track of mobile assets in the mining environment. In 2014, Hexagon AB acquired Mintec, a software developer for mining industry in order to elaborate its product portfolio by including planning and scheduling software.
Key players are engaging in collaborations and partnerships to provide innovative offerings and increase profitability. Some of the companies that have engaged in partnerships and collaborations in the connected mining market are Rockwell Automation, SAP SE, Cisco Systems, Inc., and Trimble Navigation, Ltd.
Connected Mining Market by System and Solution (Connected Asset, Connected Logistic, Connected Control System, Safety and Security, and Remote Management Solution), by Method (Surface and Underground Mining), by Service, and by Region - Global Forecast to 2020
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