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The mine planning solutions market is expected to grow from US$ 809.3 million in 2021 to US$ 1,659.9 million by 2027. The Mine planning solutions market is expected to grow at a CAGR of 12.3% during the forecast period of 2021 to 2027.
With the growing digitalization globally, the adoption of advanced technologies is boosting across various industrial sectors such as mining industry. Previously, the technological advancements have played a significant role in developing the mining sector and creates opportunity to adopt the way for new mine planning solutions. The mining organizations are progressively looking for innovative ways to expand their productivity as well as operate mines with superior efficiency. The advent and adoption of an innovative digital mine planning solutions has transformed mining management and is anticipated to improve the overall operations across the mining sector during the forecast period. The adoption of industry 4.0 endures to gain exceptional traction globally and its impact are seen across the mining sector. The foremost advancements in the mine planning solutions market are constantly being witnessed across the developed regions which includes North America and Europe owing to the noteworthy progress in advanced technology along with huge investments for the development of smart mine planning solutions.
The countries like the US, China, India, the UK, and Germany are major markets for the growth of mine planning solutions market and the ongoing interruptions in the growth of mining industry due to cancellations and postponement of various big projects due to COVID-19 outbreak is affecting the revenue of key market players. Hence, the ongoing COVID-19 crisis and critical situation across the world is anticipated to impact the mine planning solutions market growth in a negative manner at least for the two to three quarters of 2021.
The market for mine planning solutions is segmented into component, deployment, application, and geography. Based on component, the mine planning solutions market is divided into solution and services. Solution is expected to be the largest as well as the fastest growing segment over the forecast period from 2021 to 2027. On the basis of deployment, the market is divided into cloud and on-premises. The cloud segment contributed a substantial share in 2020, and it is also anticipated to be the fastest growing. Similarly, on the basis of application the market is segmented into open mining surface and underground mining surface. Geographically, the market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM). In 2019, North America held the largest share followed by Europe and APAC. APAC is projected to be the fastest growing region from 2021 to 2027.
Lucrative Regions in Mine planning solutions Market
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Mine planning solutions Market Insights
Adoption of Advanced Technologies in the Mining Sector
The adoption of advanced technologies in the mining sector has been comparatively slow than other industries. However, over the past few years, the sector has been experiencing high growth in the adoption of advanced technologies, which has resulted in revolutionizing the mining sector. Presently, players operating in the mining sector are leveraging advanced technologies to enhance productivity and increase efficiency in the mining operations. Further, the evolution of innovative analytical tools has created ample opportunities for players to offer advanced mining solutions, including mine planning solutions. These solutions significantly help mine operators to reduce the time and efforts required for exploring, planning, and scheduling mine operations, thereby enhancing the overall output.
Component -Based Market Insights
Based on component, the mine planning solutions market is segmented into: solution and services. The mine planning solutions permit the user to reduce the planning cycles with an evaluation, integrated design, and scheduling environment. With the combination of digital and geospatial terrain data, users can accelerate the enhancement in the economically optimal mine plans with the application of mine plan optioneering that maximizes mining operations.
Deployment -Based Market Insights
Based on deployment, the mine planning solutions market is segmented into: on-premises and cloud. cloud segment is leading the market in 2020 with a highest market share. The cloud-based deployment type is used for offering high service accessibility at low cost. The cloud-based deployment can be accessed via a web browser as well as hosted on the vendor’s servers; it is also rated under a monthly or annual subscription.
Mine planning solutions Market, by Deployment – 2021 and 2027
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Application -Based Market Insights
Based on distribution channel, the mine planning solutions market is segmented into: Surface Mining and Underground Mining. Surface mining segment is leading the market in 2020 with a highest market share. A surface mine comprises pits with ores or mineral endowed rock; the mining process includes ore extraction, which is present within the earth's upper layer, from surface mines. These ores consist of a variety of metals such as copper, iron, gold, and coal. Several methods of surface mining include stripping, open-pit, mountain-top removal, and dredging. The mine planning solutions permit the users to manage the overall process efficiently.
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Mine Planning Solutions Market: Strategic Insights
Market Size Value in US$ 809.3 Million in 2021 Market Size Value by US$ 1,659.9 Million by 2027 Growth rate CAGR of 12.3% from 2021-2027 Forecast Period 2021-2027 Base Year 2021
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Mine Planning Solutions Market: Strategic Insights
Market Size Value in | US$ 809.3 Million in 2021 |
Market Size Value by | US$ 1,659.9 Million by 2027 |
Growth rate | CAGR of 12.3% from 2021-2027 |
Forecast Period | 2021-2027 |
Base Year | 2021 |
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Speak to AnalystPlayers operating in the Mine planning solutions market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the mine planning solutions market. A few developments by key players of the mine planning solutions market are:
In July 2020, Dassault Systèmes SE acquired Proxem, which specializes in AI-powered semantic processing. The object of the acquisition was to enhance the data science experience on the company's 3DEXPERIENCE Platform.
In April 2020, Minemax introduced of Minemax Scheduler 7 that brings mine planning and finance together into a single powerful platform.
Mine Planning Solutions Market – by Component
- Solutions
- Services
Mine Planning Solutions Market – by Deployment
- Cloud
- On-Premises
Mine planning solutions Market – By Application
- Surface Mining
- Underground Mining
Mine Planning Solutions Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Russia
- UK
- Italy
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- Japan
- Australia
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- SAM
- Brazil
- Argentina
- Rest of SAM
Mine planning solutions Market – Company Profiles
- Bentley Systems Incorporated
- Dassault Systèmes SE
- Maptek Pty Ltd
- Micromine
- Hexagon AB
- John Wood Group PLC
- Infosys Ltd.
- Minemax
- MineRP
- RPMGLOBAL
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component , Deployment and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The introduction of technologies such as 3D modeling, VR, and AR are expected to transform the mining sector. Notable progress in spatial data visualization is further projected to surge the adoption of advanced mine planning solutions. Also, technologies, including AR and VR, are expected to witness adoption in the mining sector. The mining companies are anticipated to use spatial data visualization to reduce costs efficiently. Also, mine planning solutions can significantly result in increasing mine safety. The operators can be capable of establishing, assigning, and monitoring workflows to control operations and potential hazards. Thus, with the surging need to gain potential insights along with reducing costs is bolstering the adoption of mine planning solutions.
The surface mining segment led the Mine Planning Solution. A surface mine comprises pits with ores or mineral endowed rock; the mining process includes ore extraction, which is present within the earth's upper layer, from surface mines. These ores consist of a variety of metals such as copper, iron, gold, and coal. Several methods of surface mining include stripping, open-pit, mountain-top removal, and dredging. The mine planning solutions permit the users to manage the overall process efficiently.
Several new financing and production models are emerging as the mining companies seek out ways to limit the risk involved in mining processes. During the first decade of the 21st century, the demand promoted a commodity boom from China, resulting in declining prices. Due to this, mining companies were pushed to concentrate on minimizing debt ratios and enhancing their balance sheets. For this, alternative financing solutions were established, including royalty agreements and metal stream agreements, which helped in reducing the liability on balance sheets. Such kind of financial solutions is expected to witness a constant rise
The List of Companies - Mine Planning Solutions Market
- Bentley Systems Incorporated
- Dassault Systèmes SE
- Maptek Pty Ltd
- Micromine
- Hexagon AB
- John Wood Group PLC
- Infosys Ltd.
- Minemax
- MineRP
- RPMGLOBAL
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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