Precision Forestry Market (Technology - CTL, Geospatial, and Fire Detection; Application - Harvesting, Silviculture & Fire Management, and Inventory & Logistics; Offers - Hardware, Software, and Services): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

A recent report published by Infinium Global Research on precision forestry market provides in-depth analysis of segments and sub-segments in the global as well as regional precision forestry market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional precision forestry market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global precision forestry market. According to the report, the global precision forestry market is projected to grow at a CAGR of 8.5% over the forecast period of 2019-2025.

Market Insight

The precision forestry is a modern-age technology to meet long-term sustainable goals like reducing the negative environmental impact, alleviating deforestation, and improving the air quality. Precision forestry includes a wide variety of activities that use geospatial information to assist in the site-specific management of forests. Further, it consists of the planning of future operations, traditional examples would include using GIS to help develop management plans for forested areas. It is not a science, but a process. This process includes new-age, smart technologies to accomplish the goal of taking good care of forests. With the help of these incredible technologies, foresters can now collect accurate information on the forested areas. This critical data helps them make better management decisions, considering all the sustainable needs and environmental issues.

Increasing mechanization in forest management activities driving the growth of the precision forestry market. With massive recourse to technical and IT support, there is a development in mechanization in a forest, moving from satellite images to low altitude drone flight surveys and the use of laser scanning above and under the tree crowns, it is to create a 3D model of the forest and the topographic features. Further, growing demand for forestry products such as paper and packaging materials, composite materials for construction, lumber for homes and buildings, stronger, lighter laminated building materials, renewable energy materials, high-value wood for furniture and flooring and structural materials for bridges and transportation safety provides a growing demand for the market. Additionally, decreasing the cost of advanced monitoring and surveillance technologies and rising government support to adopt modern forestry techniques provides significant growth to the market. However, increasing the mechanization level, there is an increase in the demands for worker qualifications. Hence, the lack of technical awareness among forest operators affecting the growth of the market. Moreover, growing government initiatives for precision forestry provides a significant growth opportunity for the precision forestry market.

North America is the largest revenue making region for the precision forestry market owing to the increasing demand for industrial round wood and its related products. Further, the growing mechanization of forestry operations in the US and Canada is contributing to the growth of the market in this region. For instance, the Canadian government uses satellites to measure vegetation productivity and map forest cover & forest disturbances. Moreover, growing replacement of old forestry harvesters with more progressive and sophisticated CTL-based ones in the US and Canada is expected to create additional demand for forestry technology in this region. Additionally, the heavy adoption of aerial LiDAR.For instance, in Newfoundland and Labrador, aerial LiDAR technology is used for identifying and mapping various wood fiber properties such as fiber dimensions, wood density, and coarseness.

Segment Covered

The report on global precision forestry market covers segments such as technology, application, and offers. On the basis of technology, the sub-markets include CTL, geospatial, and fire detection. On the basis of application, the sub-markets include harvesting, silviculture & fire management, and inventory & logistics. On the basis of offers, the sub-markets include hardware, software, and services.

Companies Profiled:

The report provides profiles of the companies in the market such as Ponsse, Deere & Company, Raven Industries, Komatsu Forest AB, Trimble, Tigercat, Caterpillar, Rottne Industri AB, Treemetrics, and Quantum Spatial.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of precision forestry market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.