Precision Forestry Market: Overview
The global precision forestry market is projected to expand at a significant pace during the forecast period, thanks to the high mechanization level of forestry operations.
Precision forestry has the potential to transform the forestry industry by making traditional activities more efficient and economical
Transparency Market Research has announced to add a report on the precision forestry market to its vast repository. The report is expected to offer an in depth analysis of the industry with all important segments. Along with this, the report will help users with several vital data that will help indicating growth and latest trend in the precision forestry market during the forecast period.
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Precision Forestry Market: Notable Developments
Some of the recent development in the precision forestry market are-
The competitive landscape of the global precision forestry market is competitive and fragmented. This is mainly due to the presence of several players in the market. Some of the prominent players operating in the precision forestry market are Deere & Company, Raven Industries, Tigercat, Trimble, Ponsse, Caterpillar, Treemetrics, and Rottne Industri AB.
These players are expected to adopt several strategies such as mergers and acquisitions, business expansion and collaborations in order to expand their share. This can be attributed by recent development in the global precision forestry market.
For instance, in November 2018, Tigercat, a key player in the precision forestry market partnered with EkoNivaTechnika-Holding. This will help strengthen their foothold in the precision forestry market.
Precision Forestry Market: Key Trends
The global precision forestry market is likely to expand at a significant pace in the coming few years. This is mainly due to the increasing adoption of cut to length based harvesting technology owing to the ease it offers in cutting trees.
In addition this, rising demand for wood in different industry sectors is another factor expected to boost the growth of the global precision forestry market.
Precision forestry involve usage of advanced technology to perform hectic forestry tasks. Factors like increasing mechanization of forestry operation, decreasing cost of advanced monitoring and surveillance technologies, growing demand for forestry products, and increasing government support to adopt modern forestry techniques to curb illegal logging are some of the prominent factors expected to fuel the growth of the global prevision forestry market in the coming few years.
However, factors like high costs, inadequate awareness and unavailability of skilled labour to perform this is expected to impede the growth of the global precision forestry market in the coming few years.
Further, boost in construction activities, growing demand for timber from sawmills, increasing measures to prevent illegal logging and deforestation; and favourable governmental policies to support forest digitalization are some other factors likely to drive the global precision forestry market.
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Precision Forestry Market: Regional Outlook
On the basis of geography, North America is expected to hold a majority of shares in the precision forestry market. This is mainly due to the high mechanization level of forestry operations in countries such as the U.S. and Canada. Further, presence of extensive forests, increasing demand for industrial round wood, growing replacement of old forestry harvesters are expected to bolster the growth of the precision foretry market in the region in the coming few years.