What is the current market size and future outlook for the precision forestry market?
The precision forestry market size has grown rapidly in recent years. It will grow from $5.19 billion in 2024 to $5.71 billion in 2025 at a compound annual growth rate (CAGR) of 10.0%. 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 $7.88 billion in 2029 at a compound annual growth rate (CAGR) of 8.4%. 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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How have varous drivers impacted the growth of the precision forestry market?
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.
What are the primary segments of the precision forestry market?
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
Subsegments:
1) By Hardware: Drones and Aerial Imaging Systems, GPS Devices and Sensors, Forest Inventory Management Tools, LiDAR (Light Detection and Ranging) Systems, Remote Sensing Equipment, Tree Monitoring and Harvesting Equipment
2) By Software: Forest Management Software, Geographic Information System (GIS) Software, Forest Analytics and Modeling Software, Remote Sensing Data Processing Software, Decision Support Systems (DSS)
3) By Services: Data Collection and Analysis Services, Forest Monitoring and Assessment Services, Consulting and Advisory Services, Training and Education Services, Forest Mapping and Surveying Services
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Which firms are leading the precision forestry market?
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.
How will industry trends affect the trajectory of the precision forestry market?
Major companies operating in the precision forestry market are focused on developing forestry camera drones to enhance forest management practices, improve data collection for forest health assessments, optimize timber harvesting processes, and enable precise monitoring of vegetation growth and environmental changes, ultimately leading to more sustainable and efficient forestry operations. Forestry camera drones are unmanned aerial vehicles (UAVs) equipped with high-resolution cameras and various sensors specifically designed for forestry applications. For instance, in September 2022, Katam, a Sweden-based company that specializes in precision forestry introduced the first service in the world for using camera drones to collect data from tree trunks. This innovative service aims to enhance traditional manual measurements of tree trunk diameters, allowing forest owners and field workers to avoid hazardous environments such as steep, thorny, or tropical forests inhabited by dangerous wildlife.
Which geographic trends are shaping the precision forestry market, and which region has the highest market share?
North America was the largest region in the precision forestry market in 2024. The regions covered in the precision forestry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Precision Forestry Market Report 2025 Offer?
The precision forestry market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Precision forestry refers to a forest management technique that utilizes tools and technology to collect data for site-specific management, aiming to improve wood quality, protect the environment, reduce waste, and increase profits. It involves the use of advanced data collection and analysis systems, artificial intelligence, and machine learning to make informed decisions at various stages of forestry operations.
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