Mining automation refers to the minimization or a complete removal of human intervention from mining activities, including exploration, drilling, excavating, loading, hauling, and dumping. The automation of mining operations is achieved by using automated mining equipment such as autonomous haulage trucks and drilling rigs; communications systems; hardware components, including sensors, cameras, GPS receivers, and LiDAR sensors; and dedicated software such as autonomous haulage systems and collision detection and avoidance systems.
Visionary leaders are the leading players in the market having a robust service portfolio, a strong market presence, and also effective business strategies. These players have a broad product portfolio which enables to serve most of the regions all over the world. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and well-established brand equity.
Most of the dynamic players are classified as companies which focus on specifically one or two technologies, however, hold a fair position in the market along with a presence in various regions globally. These players have low product offerings with stronger business strategies. The vibration monitoring market has many companies operating since the past decade, which are largely dependent on their competitive R&D activities.
The need for innovative technologies to modernize mining operations has resulted in the establishment of new companies in the mining automation market. Innovators demonstrate substantial product innovations compared to their competitors. These players have a wide product portfolio. However, they do not have effective growth strategies for their overall business.
Emerging players offer niche products and have gradually started gaining position in the market. They lack effective business strategies compared to other established players. These players are mostly the new entrants in the market and require more time to get significant traction in the market.