NOVONOUS Estimates Global Mining Industry Software Market to Grow at 17.87% by 2020

2024-04-18 10:29:08 Industry

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The mining industry has faced arduous task in recent years in terms of optimizing current sites and exploring opportunities in new projects. Mining software solutions have come into play for miners to enable them to optimize mine operations. Software solutions are specifically design to plan, design, and survey both underground and surface mines. Currently industry is dominated by few players like RPM, Geovia and Maptek etc. The major sources of revenue for these companies are proprietary licensed software which is charged to customers on recurring basis. As per RPM, their new products which have been released over the last 24 months laid the foundation for the Company?s impressive 63% increase in software license sales in 2015.

Ambarish Kumar Verma, Managing Director of NOVONOUS Business Consulting Private Limited said ?Software innovation will bring the next wave of productivity improvements which will integrate major system providers to the mining industry. He also said that the Global Mining Industry Software is expected to grow at CAGR 17.87% till 2020?.

Most of the mining companies have not yet ventured many geographical regions and opportunities in emerging markets like Africa and South America are plenty.

NOVONOUS estimates that Mining Software Industry in APAC region will grow at CAGR 24.25% till 2020. The next big market in terms of growth is North America, which is expected to grow at CAGR 20.35%. South America Market expects to grow at CAGR 14.50%.

Middle East and African Mining Software Market expect to register a CAGR 10.2%; followed by Europe which is estimated to grow at CAGR 9%.

Promising future is ahead for existing companies provided they diversify and customize their solutions according to the requirements of Big and Junior miners worldwide. NOVONOUS also finds that junior miners will keep on focusing on preservation of cash and assets and invest mainly in ERP solutions rather than investing on exploration software.

The economic slowdown and low commodity pricing has affected the industry, as some companies are still trying to gain foothold. The reports presents profile of 10 major companies, mining associations across geographic regions. Analysis tools like SWOT, Pestle and Porter five forces have been also used to provide better insight about this market.

Spanning over 130 pages and 107 exhibits, ?Global Mining Industry Software Market 2016 - 2020? report presents an in-depth assessment of the Global Mining Software Market from 2016 till 2020.

The report has detailed company profiles including their position in Mining Software Market Value Chain, financial performance analysis, product and service wise business strategy, SWOT analysis and key customer details for 10 key players in Global Mining Software Market namely; UXC Eclipse, Datamine Softwares, RungePincockMinarco (RPM), ABB, Aconex Limited, Honeywell Process Solutions (HPS), GEOVIA (Dassault Systems), MAPTEK, Triple Point Technology and GEOSOFT.

Scope of Global Mining Software Market 2015 ? 2020 Report:
- This report provides detailed information about Global mining industry software market including future market forecasts.
- This report identifies the need for focusing on mining industry software sector.
- This report provides detailed information on growth forecasts for overall Global mining industry software market up to 2020.
- This report provides detailed information on type wise (underground mines, open pit mines, hard rock deposits mines, coal and other stratified deposits mines, industrial minerals mines) growth forecasts for global mining industry software market up to 2020.
- This report provides detailed information on mining phase wise (exploration and evaluation, designing and development, production, mining ERP (financial modeling, asset management etc.), training and simulation) growth forecasts for global mining industry software market up to 2020.
- This report provides detailed information on geography wise (Asia pacific, Africa& middle east, Europe, south America and north America) growth forecasts for global mining industry software market up to 2020.
- The report identifies the growth drivers and inhibitors for global mining industry software market.
- This study also identifies various policies related to global mining industry software market.
- The report identifies various credit, policy and technical risks associated with global mining industry software market.
- This report has detailed profiles 22 key players in Global mining industry software market covering their business strategy, financial performance, future forecasts and SWOT analysis.
- This report covers in details the competitive landscape in Global mining industry software market.
- This report identifies key industry bodies and associations and their role in Global mining industry software market.
- This report provides PESTLE (political, economic, social, technological, legal and environmental) analysis for Global mining industry software market.
- This report provides Porter's Five Forces analysis for Global mining industry software market.
- This report provides SWOT (strengths, weakness, opportunities and threats) analysis for Global mining industry software market.
- This report identifies the key challenges faced by new players in Global mining industry software market.
- This report provides future trends and opportunities for Global mining industry software market.
- This report also provides strategic recommendations for policy makers, end users, service providers and investors.

For more information and purchase this report please visit: http://www.novonous.com/publications/global-mining-industry-software-market-2016-2020

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