Artificial Intelligence (AI) in Mining Market is expected to grow at a considerable rate during the forecast period 2019-2025. AI implementation has increased significantly in numerous industries including retail, consumer electronics, and energy among others. The mining industry is one of the critical parts of the energy sector across the globe. Moreover, the emphasis on optimizing energy efficiency across the globe has increased, thereby creating opportunities for novel technologies such as AI to be implemented in the mining industry. AI in mining can be implemented through various ways such as automation of manual processes involved in quarries. Furthermore, it can also be used as smart caps that can analyze the worker’s brain and act on fatigue. This will increase the mining company’s productivity and increase safety. The major players providing AI in mining technologies platform include Microsoft Corp., GoldSpot Discoveries, Inc., Infosys, Ltd., Wipro, Ltd., MICROMINE, Accenture PLC, and IBM Corp. The platform offered by these companies supports the mining industry in improving their efficiency and productivity.

Factors such as optimizing production cost, automation of machinery, power efficiency and environmental consequences are the major key drivers for the AI in mining market. Although, unavailability of a skilled worker, significant investment cost, and high labor cost are the main restraining factors for this market. Additionally, the increasing adoption of AI technology in mineral exploration and sorting minerals promotes the growth of AI in the mining market. The AI in mining market is segmented on the basis of application and geography. On the basis of geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America region is anticipated to dominate the global AI in the mining market. Europe and the Asia-Pacific region are expected to grow significantly in the near future. This growth is attributed to the growing adoption of advanced technology and the presence of numerous key players in the region rising demand for AI in mining.  Further, extensive mining activities in this region are expected to create enormous opportunities for the market as the demand for automation and digitalization has been increasing in emerging economies present in the Asia-Pacific region.

Research Methodology:

The study of the global AI in mining market is incorporated by extensive primary and secondary research conducted by a research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Authentic public databases.
• Whitepapers, research-papers and news blogs.
• Company websites and their product catalog.

The report is intended for the mining companies, investment companies, government organizations for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models delivering insights into the market for better business decisions.

Market Segmentation:

• Global AI in Mining Market Research and Analysis by Application

The Report Covers:

• Comprehensive research methodology of the global AI in the mining
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Insights about market determinants which are stimulating the global AI in the mining
• Detailed and extensive market segments with regional distribution of forecast revenues.
• Extensive profiles and recent developments of market players.