Mine Planning Solutions Market to Reach Valuation of ~US$ 2 Bn by 2027: Transparency Market Research

Posted by Priti S on August 4th, 2022

Mine planning solutions are used to shorten planning cycles through an integrated design, evaluation, and scheduling environment. The mine planning solutions market is driven by various factors such as rising demand for industrial automation, surge in demand for paperless mining processes, and cloud-based mine planning solutions. The mine planning solutions market is expected to advance at a CAGR of ~13% from 2019 to 2027, reaching a market size of ~US$ 2 Bn by 2027, up from ~US$ 700 Mn in 2019.

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Demand for Industrial Automation

Mine planning solutions are integrated software applications aimed at providing mining companies or industries the mean to schedule and plan, direct and operate, and track and analyze their operations. Presently, mining industries are experiencing increase in demand for mineral resources due to the rising urbanization and rapid development of emerging economies. In addition, competitive economic conditions are compelling manufacturers to increase production in a cost effective manner. This in turn is leading to the growth in demand for industrial control systems aimed at optimizing processes and providing better visibility of the floor. Need for quicker turnaround and efficient utilization of resources or inventories is further driving the need for automation in the mining industry.

Mine planning solutions offer real-time information of the mining process, allowing mining companies to quickly respond to any challenge that could negatively impact efficiency, productivity, and quality. In addition, mine planning solutions offer uninterrupted visibility into production operations, enabling an overall view of the underground mining surface. Mine planning solutions provide collaborative geology and mine planning capabilities that support cross-functional teams involved in modeling, exploration, mine design, production scheduling, and long-term planning.

Furthermore, mine planning solutions help mining companies bridge the gap between enterprise resources planning and process control. Some leading players in the mine planning solutions market provide industrial automation services to establish common standards across multiple plants and sites, minimizing cost, lead times, WIP, and inventory.

Mine Planning Solutions: Market Segmentation

The mine planning solutions market is segmented on the basis of component, deployment, application, and region. The component segment has been further classified on the basis of solution, and training & services offered. The use of internet has contributed to extensive adoption of mine planning solutions across the world. Distributed computing and other network-based technologies are likely to be incorporated in the more advanced mine planning packages, contributing to the growth of the mine planning solutions market. Based on solution, the market is segmented into integrated solutions and standalone solutions.

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Based on deployment, the mine planning solutions market is segmented into on-premise and cloud. The cloud segment is expected to expand at the highest CAGR during the forecast period. The cloud-based solution provides a single environment for integration of services. Programming interfaces between web applications are frequently standardized and because web applications are universally available, it is straightforward to provide interfaces between different applications.

Based on application, the mine planning solutions market is segmented into open mining surface, and underground mining surface. In terms of region, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to hold prominent share of the global mine planning solutions market during the forecast period due to the presence of several global players in the region, especially in the U.S. and Canada.

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Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers Market Analysis Reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

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Priti S
Joined: July 7th, 2022
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