Digital Transformation of Global Mining Industry
WHAT REPORT COVERS:
This is one of the comprehensive research report published on Digital transformation of Mining industry. Within this research report, VENN Research has covered the key steps to be taken to transform a traditional mining business into Digital Mining Business to differentiate from the competition and drive strong revenue growth to increase market share. The report progresses by highlighting the key industry risks, and challenges, market trends and impact of technology on Mining Industry value chain.
This report has an in-depth focus on:
- Mining Industry Risks and Challenges
- Key CIO Perspectives of Mining Industry
- Global Mining Industry trends and forecast
- Key Investment Landscape
- IT Spending Trends of Global Mining Industry, 2014-2020
- Adoption of Digital Technologies (IoT, IoT Security, Autonomous Vehicles, Cloud Computing, Robotics, Smart Mining, and 3D imaging technologies)
- Ladder to Digital Transformation
- Key Profiles of Top Global Mining Companies and their Digital Transformation Efforts
KEY MARKET DYNAMICS:
The global metals & mining industry shrank by 2.3% in 2014 to reach a value of $2,425.7 billion. The compound annual rate of change of the industry in the period 2010-14 was -0.1%. In 2019, the global metals & mining industry is forecast to have a value of $2,753.6 billion, an increase of 13.5% since 2014. The compound annual growth rate of the industry in the period 2014-19 is predicted to be 2.6%.
Mining industry value chain is slowly changing to improve the productivity by managing existing assets efficiently but this strategy will go only so far. Despite the industry’s ups and downs, the nature of mining has stayed the same for decades. Achieving a breakthrough on productivity and performance demands altering of how mining industry operates.
Number of digital technologies like internet of things (IoT), cloud, analytics, and robotics have long been in the works and are now available and affordable enough to become operational at scale across the mining industry. Their applications include building a more comprehensive understanding of the resource base, optimizing material and equipment flow, improving anticipation of failures, increasing mechanization through automation, and monitoring performance in real time.
Mining Industry is majorly spending on monitoring their supply chain, premises, products and customers. There is a huge wave of variance when it comes to Digital technologies adoption. On other hand, security demand in Digital age surpass and impact conventional categories of IT security, physical security and IT/operational technology (OT) security. Security now signifies how the various strata’s of security must work simultaneously to secure data, protect devices and users, and provide a privacy, transparency and secure experience.
WHO SHOULD READ THE REPORT:
- CxOs, Strategy Head, and Digital officers
- IoT Business Units and IT Department Heads
- Outsourcing, and Global Business Services Leaders
- Procurement Professionals, and Sourcing Managers
WHAT YOU’LL KNOW AFTER READING:
VENN Research report discusses how global mining industry is struggling with economic slowdown and rising pressure to grow their revenues which is pushing them to lower their operational costs and innovate their portfolio leveraging Digital technologies. Reader will be able to relate their challenges and risks with mainstream risks faced by major global mining companies. It would help them to gauge the peers IT investment trends and IT priority areas to stay competitive. Readers will be able to identify a relevant section which addresses some of the very basic and typical questions which they face while trying to grapple around the opportunities thrown at them by various disruptive technologies.
COMPANIES WE DISCUSS:
We have covered following Global Mining players in this report covering their key products and services, acquisitions, partnerships, and their digital transformation investments and focus.
- BHP Billiton
- Glencore Plc
- Rio Tinto Inc.
- Vale S.A.