Mine Planning Solutions Market – Global Industry Analysis and Forecast to 2020 to 2027

Posted by Anna Green on October 20th, 2022

According to our latest market study on “Mine Planning Solutions Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Component (Solution and Services), Deployment (Cloud and On-Premises), Application (Surface Mining and Underground Mining), and Geography “the market was valued US$ 809.3 million in 2021 and is expected to reach US$ US$ 1,659.9 million by 2027; it is estimated to grow at a CAGR of 12.3% during 2021 to 2027.The report highlights key factors driving the market growth, and prominent players and their developments in the market.

With the rising world population, the consumption and demand for minerals are surging. . Also, the demand for minerals is rising, owing to the discovery of new minerals and applications. Additionally, a low-carbon future may offer opportunities for mineral-rich economies. The surging demand for metals and minerals is resulting in pushing governments worldwide to make efficient investments in their mining sector. As per a report published by the World Bank, by 2050, the production of minerals, such as lithium, graphite, and cobalt, is expected to increase by 500%. The report cited that the reason for increased production is due to growing need for clean energy technologies. It is estimated that more than 3 billion tons of metals and minerals will be required to install geothermal, solar, and wind power.

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At present, the US is the world’s worst affected country due to COVID-19 outbreak with more than 4.90 million confirmed cases and more than 1,59,000 deaths, as per the recent WHO Situation Report- 202 dated 9thAugust 2020. The high number of COVID cases has resulted in a negative impact on country’s and region’s economy and there has been a decline in business activities and growth of various industries operating in the region. The developed countries like the US are major regions 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 operating in the North America region.

Further, the rising adoption of technologies by the mining companies is expected to boost the demand for mine planning solutions. Moreover, several countries across the world are introducing initiatives to use cleaner energy and transportation system. Since these are more mineral-intensive compared to their fuel-based alternatives, the increasing demand for minerals is expected to offer prosperous opportunities to the mining sector. Additionally, the ongoing political instability, protectionism, and trade wars have pushed countries to invest in their own mining sectors than importing them from other countries.

Key Players coverd in Mine Planning Solutions Market are 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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