Precision forestry is the planning, execution, and management of forest management activities and operations in order to improve wood product quality, reduce waste, increase profit, and maintain environmental quality. The growing concern about technology and the importance of environmental standards drive the demand for precision forestry. Precision forestry has the potential to transform the forestry industry by making it more cost-effective and efficient, which drives the growth of the precision forestry market.
The global Precision Forestry market is segmented on the basis of Offering, Technology, Application, and Region. Based on Offerings, the market is divided into Hardware, Software, and Services. In terms of Technology, the market is categorized into Cut-to-Length, Geospatial, and Fire Detection. On the basis of Application, the market is divided into Inventory & Logistics Management, Silviculture & Fire Management, Genetics and Nurseries, Harvesting Management. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
COVID-19 impact analysis
The COVID-19 pandemic has had a negative impact on the precision forestry market share, with manufacturing activities being temporarily halted across major manufacturing hubs, resulting in a significant production slowdown. People are becoming significantly more isolated as a result of increased restrictions on public meetings and travel. Due to supply chain delays, stock market instability, halting of airlines, business dealings in the precision forestry business are also feeling the effects of the COVID-19 pandemic. It has directly impacted production and demand of precision forestry industry causing supply chain and market disruption. As airports are shut down due to lockdown restrictions, the use of InfiniBand is halted, negatively impacting the precision forestry market size.
Top impacting factors
The global precision forestry market growth is expected to grow rapidly in the coming years. This is primarily due to increased adoption of cut-to-length harvesting technology due to the ease with which it allows trees to be cut. Furthermore, rising demand for wood in various industry sectors is expected to drive the growth of the global precision forestry market. Precision forestry entails the use of advanced technology to complete time-consuming forestry tasks. Factors such as increasing mechanization of forestry operations, decreasing costs of advanced monitoring and surveillance technologies, rising demand for forestry products, and increasing government support to implement modern forestry techniques to combat illegal logging are expected to drive the growth of the global prevision forestry market in the coming years. However, factors such as high costs, insufficient awareness, and a lack of skilled labor are expected to stymie the growth of the global precision forestry market opportunity in the coming years. Other factors that are likely to drive the global precision forestry market include an increase in construction activity, increased demand for timber from sawmills, increased measures to prevent illegal logging and deforestation, and favorable governmental policies to support forest digitalization.
New product launches to flourish the market
In July 2021, GE, an American multinational conglomerate incorporated and Microdrones, a German company that manufactures microdrones that offers UAV solutions for aerial inspection tasks, formed a global licensing partnership in which Microdrones will bring the GE industrial drone line to market globally, giving professionals access to powerful aerial surveying technology that will allow them to work more efficiently, accurately, safely, and profitably. They collaborated to bring the GE industrial drone line to market. The strategy will hasten the deployment of Microdrone survey equipment as a necessary tool for the creation and maintenance of digital twins, digital terrain models, maps, and other geospatial products. Professionals in land surveying, construction, precision agriculture, mining, power line inspection, forestry management, and other fields are interested in these systems.
Surge in adoption of various technologies
A gradual increase in the adoption of various modern technologies, such as LiDAR and laser scanning, GIS, soil sensors, and others could drive the demand for precision forestry through 2027. Various companies and organizations are looking forward to developing novel innovations in the space to gain a competitive advantage in the global industry space. Airborne Snow Observations (ASO) recently announced the delivery of one of North America's first RIEGL VQ-10 II-S airborne laser scanners. ASO would be able to measure snow water equivalent across forest cover and mountain basins with this system.
Key benefits of the report
- This study presents the analytical depiction of the precision forestry market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the precision forestry market share.
- The current market is quantitatively analyzed to highlight precision forestry market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed precision forestry market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in precision forestry market research report
- What are the leading market players active in the precision forestry market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future would help in taking further strategic steps?
- Upcoming report specific FAQs examples:
- What is precision forestry?
- What does precision forestry allow organizations to achieve?
- Which technologies combine to make precision forestry a critical organizational asset?
- What are the key benefits of the precision forestry market report?
- Which niches should companies associated with recent improvements establish a presence in?
- Upcoming report specific FAQs examples:
Precision Forestry Market Report Highlights
Key Market Players
Sampo Rosenlew, Ponsse, Tigercat, Topcon, Deere & Company, Caterpillar, Treemetrics, Komatsu Forest, Ecolog, Rottne