Mine Planning Solutions Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Component (Solution and Services), Deployment (Cloud and On- Premises) and Application (Surface Mining, Underground Mining)
Publication Month: Sep 2020 | Report Code: TIPRE00010498 | No. of Pages: 155 | Category: Technology, Media and Telecommunications | Status: Published
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
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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.
Strategic Insights
Players 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
Frequently Asked Questions
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
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