Blasting Automation Services Market Size is Estimated to Value $1.0 Billion By 2027: Grand View Research, Inc

December 15 19:36 2020
Blasting Automation Services Market Size is Estimated to Value $1.0 Billion By 2027: Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, the global blasting automation services market size was valued at USD 400.6 million in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 12.8% from 2020 to 2027.

The global Blasting Automation Services Market size is anticipated to reach USD 1.0 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.8% over the forecast period. The integration of mobile computing and cloud technology to automate the blasting processes is expected to drive the market growth. The strong emphasis blasting service providers are putting on ensuring transparency in sharing information, enhancing productivity, and maintaining safety to facilitate better and quicker decision-making is expected to contribute to market growth. The growing preference for cloud platforms to deploy analytics platforms to gain access to the detailed performance of drilling and blasting equipment and process also bodes well for the growth of the market.

The implementation of the Centralized Blasting System (CBS) by several mining companies to improve efficiency is providing an impetus to the market growth. Deploying CBS helps mining companies ensure safety at mines, reduce misfire rates, and save time and workforce associated with manual processes. Deploying CBS does not involve any higher costs as the system utilizes the existing copper cabling in the mine for routing data to the surface control box, which means CBS can be considered as a cost-effective solution. Moreover, CBS also allows mining companies to reduce the average re-entry time for the mine and subsequently increase the production time.

The introduction of smart blasting bodes well for the growth of the market. It helps mine operators in gaining deeper insights into various aspects associated with drilling and blasting, such as targeting different types of rocks, the depth of each hole, and the effectiveness of the blast. The smart mining software used to manage the shots can also simulate the blasts and generate fragmentation and vibration models based on predictive analytics. The software also features a built-in costing model that provides cost estimates for detonators, boosters, and explosives, thereby allowing mine operators to optimize their operations and obtain the best results.

The integration of the 5G delivery system with mining activities can potentially offer new growth opportunities for the market. The system’s high-performance and low-latency features are expected to help mining companies conduct operations in challenging geographies more easily. 5G technology can help miners migrate from legacy blasting and drilling operations to a faster and more reliable wireless system that simplifies the blasting process and improves safety. For instance, the Boliden Aitik mine in Sweden has already demonstrated the use of 5G technology in the mining operations and managed to save nearly USD 2.9 million.

blasting automation services market

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Blasting Automation Services Market Report Highlights

  • The metal mining segment is expected to emerge as the fastest-growing segment over the forecast period owing to the growing need for more efficient drilling and blasting systems for deeper mines and the continued adoption of parallel hole mining
  • Mobile computing and cloud technology are expected to help in easing the generation and execution of blast designs based on the availability of the previous blast data stored on the cloud
  • In Asia Pacific, the market is expected to register the highest CAGR over the forecast period as the abundance of gold, coal, and metal mines in China, India, and Australia would open opportunities for the deployment of efficient and profitable mining solutions

blasting automation services market size

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Blasting Automation Services Market Segmentation

Grand View Research has segmented the global blasting automation services market on the basis of application and region:

Blasting Automation Services Application Outlook (Revenue, USD Million, 2016 – 2027)

  • Metal Mining
  • Non-Metal Mining
  • Coal Mining

Blasting Automation Services Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • Finland
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Latin America
    • Chile
    • Peru
  • MEA

List of Key Players of the Blasting Automation Services Market

  • Autonomous Solutions, Inc.
  • iRing Inc.
  • Orica Limited
  • MineWare Pty Ltd.
  • Dyno Nobel

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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