Mining is the process of extracting minerals, metals and other valuable materials from the earth crust. Metals and minerals extracted from raw materials are widely used in industries such as agriculture, manufacturing, transportation, utilities, communication, and construction. Sand and gravel, coal and stone are non-metallic products of the mining industry.
The top five companies covered are BHP Billiton Ltd., Glencore plc, Vale SA, Rio Tinto Group, and CRH Plc. BHP Billiton Ltd. was the largest company in the mining market.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
The global mining market was valued at $1895 billion in 2017. Asia Pacific was the largest region in the mining market in 2017, accounting for around 65% of the total market. China was the largest country in the market accounting for around 42% of the total market.
Internet of Things technology gives miners greater insights on the working condition of their equipment. Sensors on the mining machinery drives predictive maintenance that in turn reduces the likelihood of unplanned, unscheduled downtimes that often drain the resources of mining companies. IoT technology gives realistic insights on machine wear and tear rates that enable miners to plan maintenance schedule accordingly.
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