Precision Forestry Market Size, Insights Forecast, Growth, Trends 2024-2033

The precision forestry global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Precision Forestry Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –

The precision forestry market size has grown rapidly in recent years. It will grow from $4.70 billion in 2023 to $5.19 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to environmental concerns and regulations, resource optimization and cost reduction, demand for wood products, climate change mitigation and adaptation.

The precision forestry market size is expected to see strong growth in the next few years. It will grow to $7.29 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to demand for carbon sequestration services, increased investment in R&D, demand for urban forestry management solutions, expansion of internet of things (IoT) applications. Major trends in the forecast period include integration of artificial intelligence (AI) and machine learning (ML), utilization of blockchain for traceability and certification, enhanced remote sensing capabilities, rise of autonomous forestry equipment.

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Scope Of Precision Forestry Market

The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Precision Forestry Market Overview

Market Drivers –

The increasing timber demand is expected to propel the growth of the precision forestry market going forward. Timber typically refers to wood that has been prepared for use in construction or carpentry. It is commonly derived from trees that have been harvested and processed into lumber or other wood products. This demand arises because of rising housing demands, expanding construction sector, and infrastructure development factors. Precision forestry techniques can help to increase demand for timber by optimizing forest management methods and improving the effectiveness of timber harvesting operations to facilitate better tracking, harvesting, and processing of timber resources. For instance, in September 2023, according to reports published by the International Tropical Timber Organization, a Japan-based intergovernmental organization, exports of processed timber wood products had reached a value of $36.5 billion in 2022, up by nearly $26 billion (40%) compared with 2020. Therefore, increasing timber demand is expected to propel the growth of the precision forestry market.

Market Trends –

Major companies operating in the precision forestry market are concentrating on new innovative technological solutions, such as the precision forestry technology initiatives, to achieve greater efficiency, sustainability, and competitiveness in their operations while meeting the growing demand for timber products. This initiative involves a strategic realignment of its technology offerings to streamline its portfolio and deliver new solutions to the logging industry. For instance, in February 2021, Deere & Company, a US-based manufacturing company, unveiled its Precision Forestry Initiative. This initiative includes features such as real-time, map-based production planning and tracking capabilities, as well as new and evolving operator assistance capabilities. And by focusing on technology solutions that increase efficiency and productivity in the woods, this technology initiative seeks to empower loggers with the latest technology to optimize job site performance and efficiency while addressing the challenges associated with traditional methods of forestry management.

The precision forestry market covered in this report is segmented –

1) By Component: Hardware, Software, Services
2) By Technology: Cut-To-Length (CTL), Geospatial, Fire Detection
3) By Application: Genetics And Nurseries, Silviculture And Fire Management, Harvesting Management, Inventory And Logistics Management

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Regional Insights –

North America was the largest region in the precision forestry market in 2023. The regions covered in the precision forestry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –

Major companies operating in the precision forestry market are Caterpillar Inc., Deere & Company, CNH Industrial N.V., Kubota Corporation, Monsanto Company, AGCO Corporation, Hitachi Construction Machinery Co Ltd., Valmont Industries Inc., J C Bamford Excavators Ltd. (JCB), Trimble Inc., Volvo Group, AFRY AB, Ponsse PLC, Tigercat International Inc., Precision Planting LLC, Sampo Rosenlew Ltd., A.G. Leader Technology Inc., BouMatic LLC, Taranis, AgJunction Inc., AgEagle Aerial Systems Inc., Rottne Industri AB, Insight Robotics Limited, Komatsu Forest AB, Treemetrics Ltd., Hyundai Doosan Infracore Co Ltd.

Table of Contents

1. Executive Summary
2. Precision Forestry Market Characteristics
3. Precision Forestry Market Trends And Strategies
4. Precision Forestry Market – Macro Economic Scenario
5. Global Precision Forestry Market Size and Growth
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32. Global Precision Forestry Market Competitive Benchmarking
33. Global Precision Forestry Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Precision Forestry Market
35. Precision Forestry Market Future Outlook and Potential Analysis
36. Appendix

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