Global Precision Forestry Market Size To Worth USD 9.77 Billion By 2033 | CAGR of 5.74%

The global market for precision forestry will reach a volume of US$9.77 billion by 2033.

According to a research report published by Spherical Insights & Consulting, The global precision forestry market will  grow from US$5.59 billion in 2023 to US$9.77 billion in 2033, representing a compound annual growth rate (CAGR) of 5.74% during the forecast period.  

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Browse key industry insights across 200 pages featuring 110 market data tables, figures, and charts in the report on  " Global Precision Forestry Market Size, Share, and COVID-19 Impact Analysis by Offering (Hardware, Software, Services), by Technology (CTL, Geospatial, Fire Detection), by Application (Genetics, Fire Protection, Harvesting, Inventory, and Logistics), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023–2033." A  

Precision forestry utilizes advanced tools and techniques from precision agriculture to improve forest management. It leverages technologies such as GIS, GPS, and data analytics to optimize resource management, minimize environmental impact, and maximize productivity. The market is growing due to technological advancements, environmental concerns, and environmentally friendly legislation. Challenges include high upfront costs, complex data processing, industry traditionalism, and a shortage of skilled personnel. However, the rapid development of IoT, AI, and machine learning will accelerate market growth. The global precision forestry market is expanding due to research on forests and environmental aspects, increased corporate investment, government recognition of forest value, automation and digitalization of forest management technology, innovations in harvesting and rapid fire management, and monitoring. The market is also growing through R&D efforts that provide new updates and methodologies, thus contributing to its growth and expansion.

The hardware segment is expected to hold the largest share of the global precision forestry market during the forecast period.

The global precision forestry market is segmented by type into hardware, software, and services. Within this segment, the hardware segment is expected to hold the largest share of the global precision forestry market during the forecast period. The high adoption of automation and monitoring tools such as drones, GPS, harvesting machines, and fire detection within the hardware segment is expected to drive its expansion. Hardware such as sensors and GPS devices are essential for measuring various yield characteristics in yield monitoring.

The CTL segment is expected to hold the largest share of the global precision forestry market during the estimated period.   

Based on technology, the global precision forestry market is segmented into CTL (Central Logging Technology), geodata, and fire detection. Within this segment, CTL is expected to hold the largest share of the global precision forestry market during the forecast period. Since operators are enclosed in protective cabins and maintain a safe distance from logs and trees, the primary advantage of this method lies in its safety. CTL systems also typically increase worker productivity and help determine the optimal harvest time for a given crop, taking into account the age of the existing trees, the species to be planted for the next harvest, and the fertilization plan.

The harvesting segment is expected to be the fastest growing segment in the global precision forestry market during the forecast period.

Based on application, the global precision forestry market is segmented into genetics, fire protection, harvesting, inventory, and logistics. Among these, the harvesting segment is expected to experience the fastest growth in the global precision forestry market during the forecast period. The increasing global demand for roundwood would accelerate the segment's expansion. In the Nordic countries, CTL-based harvesting is predominantly used in temperate and boreal forests.

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North America is expected to hold the largest share of the global precision forestry market during the forecast period.

North America is expected to hold the largest share of the global precision forestry market during the forecast period, driven by the increasing use of cutting-edge technologies such as geospatial analysis, drones, and remote sensing. This expansion is further supported by the fact that several countries, including the USA, Canada, and Brazil, prioritize sustainable forest management.

During the forecast period, Europe is expected to experience the highest growth rate. The increasing use of cutting-edge technologies such as geospatial analysis, drones, and remote sensing is further supported by the fact that several countries, including the USA, Canada, and Brazil, prioritize sustainable forestry. The sector in this region is expected to continue growing as governments provide greater support for forestry improvements through various programs.

Key players in the global precision forestry market include Trimble Inc., Deere & Company (John Deere), Komatsu Forest AB, Ponsse Oyj, Caterpillar Inc., Tigercat International Inc., Husqvarna Group, Kesla Oyj, AGCO Corporation, Raven Industries, Inc., Hitachi Construction Machinery Co., Ltd., Sampo Rosenlew Ltd. and others.

Recent developments

• In April 2022, Komatsu introduced the Forwarder 845-1, which offers an excellent combination of mobility, high crane capacity and performance in rough terrain.

Main target group

• Market participants
• Investors
• End user
• Government agencies 
• Consulting and research firm
• Venture capitalist
• Value-Added Reseller (VARs)

Market segment

This study forecasts revenue at the global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global precision forestry market based on the segments listed below: 

Global market for precision forestry, through supply

• Hardware
• Software
• Services

Global Precision Forestry Market, by Technology

• CTL
• Geospatial
• Fire detection

Global Precision Forestry Market, by Application

• Genetics
• Fire protection
• harvest
• Inventory and logistics

Global Precision Forestry Market, by Region

• North America
  • US
  • You have
  • Mexico
• Europe
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • If
  • South Korea
  • Australia
  • Rest of Asia-Pacific region
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East and Africa
  • United Arab Emirates
  • Saudi Arabia
  • Train
  • South Africa
  • Rest of the Middle East and Africa

About Spherical Insights & Consulting

Spherical Insights  & Consulting  is a market research and consulting firm that provides actionable market research studies, quantitative forecasts and trend analyses that deliver forward-looking insights specifically tailored to decision-makers and support ROI.

The company serves various sectors, including finance, industry, government organizations, universities, non-profit organizations, and businesses. Its mission is to collaborate with companies to achieve business objectives and maintain strategic improvements. 

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