Precision Forestry Market Trends Analysis, Market Opportunities, Key Players, Share And Forecast To 2033

The new report published by The Business Research Company, titled ""Precision Forestry Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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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.

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.

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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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.

Contents of the report:
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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