The Precision Forestry Market was worth USD 3.9 billion in 2019 and is projected to reach USD 6.1 billion, at a CAGR of 9.0% from 2019 to 2024.

The major drivers for the Precision Forestry Market are increasing forestry mechanization in emerging countries of Asia Pacific & Africa, rise in construction activities, growing demand for timber from sawmills, decreasing cost of forestry mapping technologies, prevention of illegal logging & deforestation; and increasing government support towards digitalization of forest management. Also, government initiatives in many countries are helping foresters adopt advanced technologies and tools for site-specific management of the forest. Further, the cost of precision forestry technology is expected to decrease in the next couple of years, mainly because of the declining prices of major hardware components, which is likely to contribute to the market’s growth.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=228021988

The Precision Forestry Market in Asia Pacific is expected to grow at the highest CAGR from 2019 to 2024. The major factors propelling the growth of this market are the increasing mechanization of forestry operations in countries such as Australia, China, India, and Indonesia; and initiatives taken by various governments for the adoption of digital technology in forest land. For instance, the government of China has introduced several initiatives to attract private investments in the forestry sector. The government of India has planned to digitalize forestry by adopting advanced technology for mapping of forests, and early detection of fires in the forests. The market’s growth and demand for forestry technologies are driven by increasing demand for industrial woods in the construction industry, prevention of illegal logging, declining availability & the rising cost of skilled labor, challenges, and complexities of forestry operator, climate change, and the broader automation in the forestry industry.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=228021988

The market for inventory & logistics management application is expected to grow at the highest CAGR from 2019 to 2024. Major factors fueling the growth of inventory and logistics management are increasing the demand for valuation of forests and tracking of logs during the transportation phase. Inventory and logistics management data such as wood volume, number of logs, and log diameters are available in digital form for reducing manual errors; and enabling quick reporting and data processing.

The market for fire detection technology is expected to grow at the highest CAGR from 2019 to 2024. Increasing adoption of wireless sensor network-based forest fire detection technology is expected to propel the market. This wireless sensor network-based forest fire detection technology has the potential to achieve the high detection resolution and accuracy that is required for early detection of forest fires.

Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/precision-forestry-market-228021988.html

The Precision Forestry Market for services is expected to grow at the highest CAGR during the forecast period. The Precision Forestry Services Market is expected to grow at the highest CAGR during the forecast period. Increasing interest for forest owners and governments in the automation of the forestry industry and advancements in precision forestry technology are expected to propel the demand for precision forestry services during the forecast period. Increasing demand for managed services is also a major reason behind the high growth of the Precision Forestry Market for the services segment. Increasing demand for after-sales services of CTL harvesters and integration & deployment services are further expected to boost the demand for the services market during the forecast period. The major players in the Precision Forestry Market have executed acquisitions, partnerships, and product launches, and developments to grow in the market. For instance, Tigercat partnered with EkoNivaTechnika-Holding (Russia) in November 2018, Ponsse launched its Bison forwarder; and Cobra and Fox harvesters in August 2018; and EcoLog partnered with Mercado Forestal (Uruguay) in May 2017.

News Covered:

https://www.prnewswire.com/news-releases/precision-forestry-market-worth-6-1-billion-by-2024--exclusive-report-by-marketsandmarkets-300877711.html

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Visit Our Website: https://www.marketsandmarkets.com