Global Precision Forestry Market Growth Analysis - Forecast Trends and Outlook (2024-2032)

Global Precision Forestry Market Outlook

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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Global Precision Forestry Market Share

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.

Market Segmentation

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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• Services
• Software
• Hardware

Based on technology, the industry can be segmented into:

• CTL 
• Geospatial 
• Fire Detection

The industry can be broadly categorised based on its applications into:

• Genetics and Nurseries 
• Silviculture and Fire Management 
• Harvesting Management 
• Inventory and Logistics Management

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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Market Analysis

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.

Competitive Landscape of Precision Forestry Industry

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:

• Deere & Company
• Ponsse PLC 
• Tigercat International Inc.
• Rottne Industri AB
• Treemetrics Ltd.
• Komatsu Forest
• Sampo-Rosenlew Oy
• Others

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.

Key Highlights of the Report

Precision Forestry Market Report Snapshots

Precision Forestry Market Size

Precision Forestry Market Analysis

Precision Forestry Companies