Mine Planning Solutions Market New Growth Opportunities By 2026

The mining industry, at present, is encountering many challenges due to globalization, such as, increase in demand and competition, especially in China and Eastern Europe. This has made it crucial for mining companies to increase their productivity and optimize their resources. In order to overcome such challenges, the mine planning solution (MPS) can play a key role. MPS is a series of solutions providing control, visibility, and operational insight through the entire mine value chain, from mining to the market. These solutions enable companies to optimize their resources, assess risks, allow collaboration, ensure compliance to regulations, and help them with analytics and reporting.

Factors, such as, presence of complex geological structures and pipeline network, growing investments, and increasing exploration and production activities across the globe are expected to drive the mine planning solutions market during the forecast period. Moreover, recent investments in mining-related activities in Eastern Europe and Scandinavia are expected to boost the growth of the global MPS market further. Asia Pacific, with its growing information technology industry that supports smart mining and exploration & production (oil & gas), is expected to follow Europe in terms of revenue share of the global MPS market. Moreover, increasing urbanization and growing population are also expected to contribute to the growth of the mine planning solutions market during the forecast period.

The global mine planning solutions market can be segmented based on deployment, enterprise size, and geography. In terms of deployment, the global mine planning solutions market can be classified into cloud and on-premise-based solutions. Out of these two deployment segments, the the cloud segment accounted for the dominant share of the MPS market. Cloud deployment model refers to hosted services delivered over the internet. Benefits associated with cloud deployment model, such as, accessing mission critical data remotely, cost saving on infrastructure, and enhanced collaboration are expected to propel the segment throughout the forecast period.

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Rise in aspiration of organizations to switch to alternate business models, such as, Software-as-a-Service (SaaS) model, as it is perceived a better value for money and a plethora of features provided under such models is also expected to aid the growth of the aforementioned segment. The on-premise deployment segment, which refers to computation that is located within the physical confines of an organization, is expected to hold a comparatively smaller share of the MPS market. In terms of enterprise size, the MPS market can be bifurcated into small and medium enterprises and large enterprises.