Precision Forestry Market Overview Business Status and Industry Trends 2024


The Precision Forestry Market had a 2019 value of USD 3.9 billion and is anticipated to grow to USD 6.1 billion by 2024, at a CAGR of 9.0%. The rise in construction activities, the rising demand for lumber from sawmills, the declining cost of forestry mapping technologies, the prevention of illegal logging and deforestation, and the increasing government support for the digitalization of forest management are all factors that have contributed to the precision forestry market's rapid growth.

By increasing the productivity and cost-effectiveness of conventional forestry operations, precision forestry has the potential to revolutionise the forestry sector. Additionally, government programmes in many nations are assisting in the adoption of cutting-edge technologies and equipment by foresters for site-specific management of the forest. In the upcoming years, it is anticipated that the cost of precision forestry technology would reduce, mostly due to the falling costs of key hardware components, which will likely support the market's expansion.

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In terms of supplying cutting-edge, innovative goods and services for the precision forestry market, Deere & Company (US) is a global leader. The business is a major player in the market because of its strong distribution network and reputable brand name. The primary business strategies for their expansion are product releases and developments. For instance, the business modified its E-Series knuckleboom loaders in October 2018. The business frequently debuts new products. The business unveiled the TimberOffice Data Transfer App, a fresh smartphone application, in December 2017. (TODT). Data transmission from forestry machines to offices is made easier by this application. Future product introductions and continuous product development are anticipated to increase the company's market share in the precision forestry ecosystem. The business also makes significant R&D investments in order to introduce cutting-edge goods in the Precision Forestry Market. For instance, over the past three years, the company's average R&D spending as a percentage of total revenue has exceeded 5%.

Innovative forestry harvesting technologies are being developed and manufactured by Ponsse in Finland. The business wants to dominate the market for forestry equipment using cut-to-length technology. Innovative product development and launch are a crucial component of its growth strategy. For instance, in August 2018, Ponsse introduced the economical and environmentally friendly PONSSE Cobra and PONSSE Fox forwarders.

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One of the top producers of forestry equipment is Komatsu Forest, a division of Komatsu Ltd. (Japan). The business offers cutting-edge forestry equipment and replacement parts. It wants to be the owners of forest machines' go-to partner. For its expansion, the corporation is implementing techniques including product releases and acquisitions. For instance, the business introduced virtual reality simulators for harvesters and forwarders in June 2017. The business updated its forwarders in June 2017 with a new technology dubbed SmartFlow, which offers precision and raises machine fuel economy. Through mergers and acquisitions, the corporation also wants to increase the range of its products. For instance, in order to increase its activities in Umea, Sweden, it bought Oryx Simulators in April 2018.

One of the leading businesses active in the precision forestry market is Tigercat (Canada). The business is always developing new products to boost the effectiveness and productivity of forestry operations and silviculture management. It employs tactics including cutting-edge product launches, alliances, and contracts to expand in the Precision Forestry Market. For instance, in November 2018 Tigercat collaborated with EkoNivaTechnika-Holding (Russia) to increase its clientele there. In a similar vein, it introduced RemoteLog, a new telematics solution, in July 2017. To increase machine productivity and lower operating costs, the new telematics system allows users to monitor important machine performance indicators from a PC or tablet.

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