According to a new report by Expert Market Research titled, “Precision Forestry Global Market Share, Size, Report and Forecast 2024-2032″, the global precision forestry market reached a value of USD 4.73 billion in 2023. Aided by increasing demand for wood in various industries and use of advanced technology to carry out hectic forestry tasks, the market is projected to further grow at a CAGR of 8.70% between 2024 and 2032 to reach a value of USD 7.81 billion by 2032.
Precision forestry refers to the application of advanced technologies and systems, including Geographic Information Systems (GIS), Remote Sensing (RS), and real-time data analytics, to enhance forest management, conservation, and logging activities. It aims to increase the efficiency, sustainability, and profitability of forestry operations, ensuring minimal environmental impact while maximising yield and productivity.
Increasing shift towards integration of digital tools and advanced sensing technologies has become of the growing precision forestry market trends. This is largely driven by the escalating global demand for timber and wood-based products, coupled with the imperative need for sustainable forestry practices. Precision tools and strategies enable foresters to make informed decisions, from tree selection for felling to the best logging routes, thereby minimising waste and reducing ecological footprints.
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Growing need for automation and real-time monitoring has further bolstered the precision forestry market growth globally. For instance, drone technologies equipped with advanced sensors now play an instrumental role in forest mapping, pest detection, and health assessment of vast forest tracts. These insights, when combined with ground-based data, present a holistic view, allowing foresters to implement timely and efficient interventions.
The precision forestry market analysis reveals an increasing inclination towards software solutions that facilitate predictive analysis. These platforms harness vast amounts of data from various sources to forecast potential challenges, such as pest infestations or disease outbreaks, and even predict the best harvesting times. This ensures that forest managers can pre-emptively address issues, ensuring the longevity and health of forest resources.
Moreover, the precision forestry market demand is being supported by the global emphasis on climate change mitigation. Forests act as significant carbon sinks, and their optimal management is pivotal in global efforts to offset carbon emissions. Precision forestry, by facilitating efficient and sustainable operations, plays a crucial role in these endeavours, making it an indispensable tool in the global fight against climate change.
Additionally, the educational sector’s focus on precision forestry, with numerous institutions offering specialised courses and training programs, has further fuelled the market’s expansion. These programs aim to provide the next generation of foresters with the skills and knowledge required to seamlessly integrate technology into traditional forestry practices.
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Market Segmentation
The market can be divided based on component, technology, application, and region.
Market Breakup by Component
• Services
• Software
• Hardware
Market Breakup by Technology
• CTL
• Geospatial
• Fire Detection
Market Breakup by Application
• Genetics and Nurseries
• Silviculture and Fire Management
• Harvesting Management
• Inventory and Logistics Management
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global precision forestry market. Some of the major players explored in the report by Expert Market Research are as follows:
• Deere & Company
• Ponsse PLC
• Tigercat International Inc.
• Rottne Industri AB
• Komatsu Forest
• Treemetrics Ltd.
• Sampo-Rosenlew Oy
• Others
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