Digitization in the Mining Industry and Growth of the Digital Mining Market

Digitization in the Mining Industry and Growth of the Digital Mining Market Digitization in mining industry with a reliable document scanning service enables easy data access for critical decision making and improved productivity.

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Almost all industries have stepped into the world of digitization and the mining industry remains as one of the last ones to be disrupted by technology. With increasing resource demands and scarcity of minerals, players in the mining industry are forced to adopt new solutions. This is the age of new Industry 4.0 and technologies like automation, data analytics, cloud computing, IoT etc. open the door to more opportunities, improved customer service and customization, increased productivity, reduced costs in the value chain and better safety. The mining industry still relies on paper-based filing system to make critical decisions. They deal with various documents like project files, equipment records, drawings, medical records, employee records, mining leases, financial records, health and safety records and so on. All these data can be transformed into digital format by associating with a reliable data entry company or document scanning services that can ensure better and safe data storage and quick access to information.

Automation in the mining industry improves process optimization, maintenance strategies and utility consumption. With proper data analytics, plant managers can make better decisions about balancing operations. By digitizing a process control system, you can measure and assess a large number of parameters and their interdependencies within mere seconds, far superior to anything that could be done manually. Digital innovations provide knowledge about everything from the resource base to real-time performance of equipment, and this will increase your productivity.

Global Digital Mining Market to Grow Remarkably By 2025 According to an article in the Digital Journal, the global digital mining market is expected to reach USD 13,567.2 million by the end of 2025 with the integration of Augmented Reality and Virtual Reality.

The driving factors for the growth of this market include rising injuries during mining, increasing requirement of safety of mine workers, and growing demand for digital mining solutions. With digital mining solutions, deep learning algorithms can be effectively used instead traditional solutions that involve risk. Round-the-clock monitoring provided by stereo imaging help minimize routine operations and manual work.

Integration of automation has facilitate dan agile and intelligent solution for crucial business issues. Another factor that is contributing to the adoption of digital solutions in this industry is

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the rising operation cost. Shortage of talent coupled with higher capital needs and dropped commodity prices have led to poor productivity. To improve productivity as well as ensure the safety of workers, mining companies are adopting technologies like augmented and virtual reality and wearable devices. Digital technologies such as robotics, drones, sensors, integration techniques and the demand for automated solutions will drive the global digitalization in the mining market over the forecast period.

North America holds the largest market share in the global digitalization in mining market. The Asia Pacific region is expected to account for the highest CAGR along with China is imposing strict environmental policies with the support of government in gold mines productions.

Digital Mining Market Categories 

On the basis of service: Ultrasonic, Smart Sensors, Autonomous Operations, 3D Printing, Connected Workers, Remote Operation Center, Asset Cyber Security, Integrated Platform, and Advanced Analytics

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On the basis of types: Metallurgy and Mining

The leading players of the global digitalization in mining market include Caterpillar Inc., SAP, ABB, Wipro, IBM Services, Hatch Ltd etc.

As mining projects become bigger and more complex, industries handling huge volumes of data find data management challenging. Most of these entities are utilizing the service of document processing companies for efficient management of data in a systematic and organized manner.

Digitization of critical data enables organizations to efficiently manage all communication, store documents and processes on a single project wide platform and effortlessly connect with employees. Document conversion and scanning is the first step in becoming digital. Outsourcing digitization to a professional document scanning service facilitates quick access to data required for making critical decisions.

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