Mining Software Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Albany, NY -- (SBWIRE) -- 01/22/2018 -- Mining industry contributes a significant share to world's gross domestic product (GDP). It affects global GDP directly or through the use of products that facilitate other industries. It contains high volumes of spatial data and complex models with continuously changing demand level for products. Constant innovation in mining software has helped the growth of mining industry. Mining software helps to identify and develop resources which are extremely important to start any project. Risk and safety management are the main issues facing mining industry. As per the worker safety rules and regulations, precautions must be taken to avoid accidents. Mining software has helped the mining industry to increase the overall operational efficiency by automating various processes involved in mining. Safety and security are the main areas where software has helped mining industry.
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Mining industry has been affected by some major incidents in which some employees were severely injured and many of them unfortunately lost their lives. The worst disaster till date occurred in 1942, in China, where 1,549 miners were killed. Since then many government laws are in place for worker's safety and security. Software has helped immensely to create automated systems and alerts to avoid accidents.
As per the rules and regulations mining companies must install safety mechanisms. This is driving the mining software market. Further, automation techniques are increasingly being used by mining companies and software is an integral part of automation. This is increasing the demand for software continuously. Moreover, cloud technology is helping mining industry in reducing on-site workload and equipment. Owing to this, delivery of software and services overcloud is gaining momentum in mining industry.
Mining industry is focusing on collection of data through techniques such as geological and geophysical analysis. This data is used to take decisions such as selection of a site. The data oriented decision making is extremely important for organizations. New data collection software are being developed, making the decision making process easier. Efficient data management is the new trend in mining industry and companies are trying to introduce new solutions for data management, which are going to reduce the costs and increase the discovery rates of mining sites. Moreover, historical data management and its collaboration with current data is an important process for companies. Organizing such data is a challenge which can be solved through the use of software solutions. Additionally, blasting is an important process for site development and involves huge amount of risk. Blasting software are used by companies for analyzing the impact. These software use the simulation techniques for accessing the impact of a blast. Companies are investing heavily in these simulation software as blasting is the starting point for a mining project. Moreover, credibility of these simulation software is anticipated to increase during coming years.
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Some of the major players in the global mining software market are SAP AG, INX Software Pty Ltd, Hexagon AB, Constellation Software Inc., Minemax Pty Ltd, ABB Inc., Dassault Systemes, acQuire Technology Solutions Pty Ltd, Micromine Pty Ltd, ThreeDify Inc., Maptek Pty Ltd, and ARANZ Geo Ltd.