Global Precision Forestry Market, By Offering (Hardware, Software, Services), Technology (CTL, Geospatial, Fire Detection), Application (Genetics and Nurseries, Silviculture and Fire Management, Harvesting Management, Inventory and Logistics Management) – Industry Trends and Forecast to 2029
Precision Forestry Market Analysis and Size
The modernization of forest management is increasing demand for forestry products. Many countries' governments are taking steps to promote modern forestry equipment and techniques.
Data Bridge Market Research analyses that the precision forestry market which was growing at a value of 5.09 billion in 2021 and is expected to reach the value of USD 10.33 billion by 2029, at a CAGR of 9.25% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD billion, Volumes in Units, Pricing in USD
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Segments Covered
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Offering (Hardware, Software, Services), Technology (CTL, Geospatial, Fire Detection), Application (Genetics and Nurseries, Silviculture and Fire Management, Harvesting Management, Inventory and Logistics Management),
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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AG Leader Technology Inc. (U.S.), AGCO Corporation (U.S.), AgJunction Inc. (Canada), AgEagle Aerial Systems, Inc. (U.S.), Valmont Industries Inc. (U.S.), Agsmart Pty Ltd (Australia), BouMatic (U.S.), CROPMETRICS (U.S.), CropX Inc. (Israel), Deere & Company (U.S.), Farmers Edge Inc. (Canada), GEA Group Aktiengesellschaft (Germany), Monsanto Company (U.S.), Taranis (U.S.), Precision Planting LLC (U.S.), Raven Industries Inc. (U.S.), Topcon (Japan), Tetra Laval International S.A. (Switzerland), and Trimble Inc. (U.S.), among others
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Opportunities
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Market Definition
Precision forest is the planning and execution of site-specific forest management programmes and operations to improve the quality and use of wood products, reduce waste, maximise profits, and preserve environmental quality.
Global Precision Forestry Market Dynamics
Drivers
Drivers
- Growing focus on forest and environmental research
Expanding the global precision forestry market depends on advances in forest and environmental research. The precision forestry market is expected to attract significant investment from a variety of entities in the coming years. It is critical to bring the importance of forests to the attention of governments and decision-makers. Precision forestry aids in attracting the attention of these demographics, which is a major driver of market growth.
- Rapid digitization and automation in forest managements
The growing awareness of digitization and automation of forest management technologies will be critical in propelling the precision forestry market forward. Rapid fire management and harvesting advancements will also help the precision forestry market grow.
Surveillance is critical in forest management. The growing popularity of surveillance is proving to be a boon for the growth of the precision forestry market. R&D activities are also expanding the precision forestry market in new directions. These activities ensure new updates and mechanisms in the segment, thereby significantly promoting the growth of the precision forestry market.
Opportunity
Other factors that are expected to drive the global precision forestry market include increased construction activity, increased demand for timber from sawmills, increased measures to prevent illegal logging and deforestation, and favourable government policies to support forest digitalization.
Restraints
During the forecast period, rising capital investment requirements, as well as a lack of skill and technical awareness, will be market restraints for precision forestry.
This precision forestry market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the precision forestry market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Precision Forestry Market
The COVID-19 pandemic has been a significant impediment to the growth of the precision forestry market. Lockdown restrictions imposed by almost every country in the world forced the closure of factories and production facilities. However, after a certain period, many countries implemented many relaxations, resulting in an increase in production activities. Mass vaccination campaigns are also ensuring a rapid return to pre-pandemic levels of growth. These factors will aid in the stabilisation of the precision forestry market's growth.
Recent Development
- In November 2019, EkoNivaTechnika-Holding formed a partnership with Tigercat. In terms of revenues and profits, this partnership has proven to be mutually beneficial for both parties.
- Ponsse has gained a new consumer base in new regions thanks to the introduction of new products such as the Bison Forwarder.
- Mercado Forestal has partnered with EcoLog, and this collaboration has assisted the vendors in meeting their annual sales targets.
Global Precision Forestry Market Scope
The precision forestry market is segmented on the basis of offering, technology, and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Offering
- Hardware
- Software
- Services
Technology
- CTL
- Geospatial
- Fire Detection
Application
- Genetics and Nurseries
- Silviculture and Fire Management
- Harvesting Management
- Inventory and Logistics Management
Precision Forestry Market Regional Analysis/Insights
The precision forestry market is analysed and market size insights and trends are provided by country, offering, technology, and application as referenced above.
The countries covered in the precision forestry market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America will dominate the precision forestry market due to rising demand for industrial round wood and related products, as well as the adoption of advanced technology.
Asia-Pacific will grow during the forecast period of 2022-2029, owing to factors such as increasing mechanisation of forestry operations in various regions.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Precision Forestry Market Share Analysis
The precision forestry market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to precision forestry market.
Some of the major players operating in the precision forestry market are:
- A.G. Leader Technology Inc. (U.S.)
- AGCO Corporation (U.S.)
- AgJunction Inc. (Canada)
- AgEagle Aerial Systems, Inc. (U.S.)
- Valmont Industries Inc. (U.S.)
- Agsmart Pty Ltd (Australia)
- BouMatic (U.S.)
- CROPMETRICS (U.S.)
- CropX Inc. (Israel)
- Deere & Company (U.S.)
- Farmers Edge Inc. (Canada)
- GEA Group Aktiengesellschaft (Germany)
- Monsanto Company (U.S.)
- Taranis (U.S.)
- Precision Planting LLC (U.S.)
- Raven Industries Inc. (U.S.)
- Topcon (Japan)
- Tetra Laval International S.A. (Switzerland)
- Trimble Inc. (U.S.)
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