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The global precision forestry market attained a value of USD 5.14 billion in 2023. The precision forestry market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 8.7% to reach USD 10.90 billion by 2032.
The increasing support by the government for the adoption of modern forestry technologies to limit illegal logging is further driving the precision forestry market growth.
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The precision forestry market is rapidly expanding as advanced technologies such as drones, LiDAR, and GPS are transforming the way forests are managed. With growing demand for sustainable forestry practices, precision forestry helps improve decision-making, optimize resource use, and increase forest productivity. This market is seeing significant growth due to its benefits in enhancing operational efficiency, reducing costs, and minimizing environmental impact. Precision forestry market share is increasing globally, driven by advancements in remote sensing, data analytics, and automation. Key players are investing in innovations, making tools like geographic information systems (GIS) and machine learning essential for the sector’s expansion. As sustainability efforts intensify, precision forestry is gaining traction across various regions, from North America to Asia-Pacific, as both public and private sectors seek to balance profitability with ecological stewardship. The forecast for this market shows substantial growth, with new opportunities emerging for stakeholders in forestry management.
The preparation and execution of site-specific forest management programs and operations to improve the quality and use of wood products, to reduce waste, to maximise profits, and to preserve environmental quality is known as precision forest.
On the basis of the component, the precision forestry market is divided into:
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Based on technology, the industry can be segmented into:
The industry can be broadly categorised based on its applications into:
The EMR report looks into the regional markets of precision forestry like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
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The expansion of the global precision forest market is being driven by the increasing demand for wood in various industries. Forestry precision requires the use of advanced technology to carry out hectic forestry tasks. Some of the prominent factors that are expected to stimulate global precision forest market growth over the next few years include increasing forestry mechanisms, lower cost of advanced monitoring and surveillance technology, the rising demand for forest products and increased support from the government to adopt modern forestry methods to counter illegal logging.
However, factors such as high costs, insufficient awareness, and the unavailability of skilled labour, will hinder the growth of the global forest precision market in the coming years.
The report presents a detailed analysis of the following key players in the global precision forestry market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Component |
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Breakup by Technology |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Precision Forestry Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global precision forestry market attained a value of more than USD 5.14 billion.
The market is projected to grow at a CAGR of 8.7% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of over USD 10.90 billion by 2032.
The major drivers of the market include advancements in forestry mechanisms, rising demand for forest products, and increasing adoption of CTL-based harvesting technology.
The growing support by various governments for the adoption of modern forestry technologies, increasing affordability of advanced monitoring and surveillance technology, and rising demand for wood in various industries are the key trends propelling the market growth.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various components of precision forestry in the market are services, software, and hardware.
The technologies of precision forestry in the market include CTL, geospatial, and fire detection.
The major applications of precision forestry are genetics and nurseries, silviculture and fire management, harvesting management, and inventory and logistics management.
The major players in the global precision forestry market are Deere & Company, Ponsse PLC, Tigercat International Inc., Rottne Industri AB, Treemetrics Ltd., Komatsu Forest, and Sampo-Rosenlew Oy, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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