Precision Forestry Market Growth Analysis, Trends, Share, Market Size And Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Precision Forestry Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $7.29 Bn In 2028 At A CAGR Of 8.9% :

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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Precision Forestry Market Major Segments
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

Key Driver - Increasing Timber Demand Fuels Growth In 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.

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Prominent Trend - Deere And Company's Precision Forestry Technology Initiative

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.

Precision Forestry Market Players
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.

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Largest And Fastest Growing Region In The Market
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.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Precision Forestry Market Report Structure
3. Precision Forestry Market Trends And Strategies
4. Precision Forestry Market - Macro Economic Scenario
5. Precision Forestry Market Size And Growth
…..
27. Precision Forestry Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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