Dublin, Oct. 21, 2020 (GLOBE NEWSWIRE) -- The "Mining Laboratory Automation Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Mining Laboratory Automation Market is expected to register a CAGR of approximately 2% during the forecast period (2020 - 2025). The deployment of automation, AI, and robotics is rapidly increasing due to the enhanced productivity and mitigating operational costs for laboratories, which is further expected to boost market growth.
Numerous mining operations are partnering with technology companies to deploy and innovate creative solutions in their operations, to enhance the safety of the people working in the mines. Also, advanced data analytics is being applied to the raw data to create visualizations, insights, and recommendations, which is delivered to mine managers and employees in real-time on their mobile devices. Such instances of innovations and technology adoption in the industry are expected to provide several opportunities for growth.
Key Market Trends
Laboratory Information Management System Expected to Exhibit Maximum Share
The laboratory information management system helps in managing and aggregating data from samples. Further, it automates workflows and manages associated samples. These factors are expected to drive the market's growth. Additionally, the system tracks the lots and reagents that help in predetermining and understanding the required lab agents and resources.
A Laboratory Information Management System (LIMS) solution in the Mining Labs needs to be flexible and agile as the samples collected in this industry do not have a uniform concentration, as compared to LIMS designed for the pharmaceutical or food industry, where the samples have a more uniform concentration.
The primary benefit offered by a laboratory information management system (LIMS) is that it can be integrated with other in-lab systems, which enable smooth functioning and gathering data at a single place. These factors are expected to propel the market growth over the forecast period.
It is also utilized by the R&D wing of industrial chemical testing and creation, owing to which the demand for the former is expected to fuel the usage and integration. This management system generates automated reports from past experiments, which are highly preferred as they can be utilized to retrieve old data.
Online LIMS is designed to store samples generated in either a small or large mining plant and specializes in geochemical solutions, which can simultaneously handle routine samples and non-routine samples both. Further, the introduction and increasing market penetration of the cloud-based LIMS, wherein the data can be accessed via multiple devices with grant permission, are expected to foster the market's growth over the forecast period.
North America Expected to Dominate the Market
North America is expected to dominate the Mining Lab Automation market in the forecast period owing to the dominance of the region in technology adoption across various industries. The growing mining industry in the region has further augmented the growth opportunities for the adoption of lab automation solutions in the industry. According to the U.S. Bureau of Labor Statistics, the mining industry has seen an increase in employment, as 200 jobs were added approximately, since 2018.
Also, the increasing investment in the mining industry and the increasing government support is expected to further boost the growth of the market studied. For instance, in March 2020, the Minister of Energy, Northern Development and Mines invested approximately USD 10.5 million through the Northern Ontario Heritage Fund. The fund is expected to promote business expansion and stimulate the development of new technologies, which will ensure a competitive and innovative mining sector in Ontario.
The growing trends in the mining industry are stimulating the market players to form a strategic collaboration with lab automation solution providers and expand their market presence. For instance, in May 2020, Teledyne CETAC Technologies collaborated with Summit Scientific as their sales representative for the Rocky Mountain region of the United States. Summit Scientific provides chemical analysis solutions, as well as systems for automating sample introduction and sample prep. Cetac Technologies will provide Summit Scientific with an analytical lab solution that needs advanced automation and improved productivity for their lab operation.
The competitive landscape of the Mining Laboratory is moderately fragmented owing to the presence of several lab automation solution providers globally. The solution providers are innovating and making several developments in the market. Also, several solution providers are forming strategic collaborations and partnerships to boost their market presence.
February 2020 - Rio Tinto awarded Scott Technology a contract to design and build an automated mine laboratory for the Koodaideri iron ore project in the Pilbara, Western Australia. Under the contract, Scott Technology will construct and supply equipment for the robotic sample preparation and analysis laboratory.
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Key Topics Covered:
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Importance of Ores to Obtain Requisite Treatment Consistently
4.2.2 New and Innovative Solutions
4.3 Market Restraints
4.3.1 Higher Initial Setup Costs for Overall Module
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Assessment of Impact of Covid-19 on the Market
4.6 Key Applications (Laboratories and Mine-site)
4.7 Major Use Cases
5 MARKET SEGMENTATION
5.1 By Product
5.1.2 Laboratory Information Management Systems (LIMS)
5.1.3 Container Laboratory
5.1.4 Automated Analyzers and Sample Preparation Equipment
5.2.1 North America
5.2.4 Latin America
5.2.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles*
6.1.1 FLSmidth A/S
6.1.2 Bruker Corporation
6.1.3 Datech Scientific Ltd.
6.1.4 Intertek Group PLC
6.1.5 Rocklabs (SCOTT Group)
6.1.6 Thermo Fisher Scientific Inc.
6.1.7 Malvern Panalytical Ltd.
6.1.9 HERZOG Automation Corp.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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