February 7, 2018

The Mining Industry is predicted to grow 50% by 2023

As industries embrace the new technological age and look towards the future with automation, the mining industry, in particular, is forecast to adopt new operational practices.
The forecast
Detailed in the new market research report Mining Automation Market by Technique, Type (Equipment, Software, Communications System), Equipment (Autonomous Hauling/Mining Trucks, Autonomous Drilling Rigs, Underground LHD Loaders, Tunneling Equipment) and Region – Global Forecast to 2023 the global mining automation market is expected to grow by 50% from USD 2.22 Billion in 2017 to reach USD 3.29 Billion by 2023.
The growth catalyst
The reason for this predicted growth is due to Australia and the Asia-Pacific (APAC) region’s leading example in this global expansion, estimated to be the largest market for mining equipment and implementation of mining automation technologies worldwide, having held the largest share of this market in 2016 with immense natural reserves distributed among the countries throughout the region.
Who are the industry leaders?
Leading Australian exploration and mining companies such as Rio Tinto, Fortescue Metals Group, and BHP Billiton are the key companies driving this trend, having started to use automated mining equipment in their mine sites in Western Australia.
What can we expect?
With the increasing trend to adopt these new automation technologies, the increasing digitalisation of mines and globalisation of economies have begun to attract significant investments from mining companies globally, opening up the world for greater advancements and opportunities.
As the growing importance of running efficient operations and implementing the latest technologies to help drive this, now is the time to invest in mining automation technologies and follow suit of the biggest players in the mining industry.
What you can do
Finding out how you can keep up with Australia’s top mining companies starts with the right technologies and metals and mining software. As a leading global industry provider of mining software solutions, we have what you need to improve the health, safety, compliance, travel, logistics and environmental management of your workforce, so you can focus on running more cost-effective and efficient operations.

Where can I get more information?

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