North America precision forestry market is expected to show significant growth rate due to the heavy adoption of aerial LiDAR. For instance, in Newfoundland and Labrador, aerial LiDAR technology is used for identifying and mapping various wood fiber properties such as fiber dimensions, wood density, and coarseness.
The Asia Pacific precision forestry mapping market will also witness a sharp growth rate over a forecast timeline due to the rise in the number of government projects for forest mapping in countries including, India, Japan, and China. For instance, in 2018, the Chinese government relied on NASA satellites to gather information on the forest cover to promote afforestation in the country. The adoption of forest mapping technologies is also spurring the precision forestry market growth.
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The companies operating in the precision forestry market are adopting market strategies, such as new product launches and partnerships, to gain a competitive edge. For instance, in August 2018, Ponsse launched three new products, PONSSE Bison forwarder, PONSSE Cobra, and Fox harvesters, enabling customers to improve productivity and cost-efficiency for harvesting purposes. in February 2018, John Deere released a new line-up of 100 Series Lawn Tractors with side-by-side pedals and other upgrades that increase the comfort of customers.
In November 2018, Tigercat partnered with a heavy equipment dealer, EkoNivaTechnika Holding, to gain more share of the forestry equipment market in Western Russia and Siberia. Some market players are collaborating to improve product quality and make a standardized product. For instance, in June 2019, Komatsu Forest collaborated with SMHI to provide innovative solutions for sustainable forestry such as MaxiVision digital tool. Other players operating in the precision forestry market are Sampo Rosenlew, Quantum Spatial, Hitachi Construction Machinery, Doosan Infracore, Silvere, DroneSeed, Insight Robotics, and Aerobotics.
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A Surge in the usage of several technologies, such as laser scanning & LiDAR, soil sensors, and Geographic Information Systems (GIS), will also spur the precision forestry market growth. For instance, government agencies worldwide are using geoinformatics systems for ensuring smooth coordination and functioning between numerous departments, such as tribal, forest, and revenue, for better implementation and transfer of information.
The demand for precision forestry solutions is expected to grow due to the increasing need for cost-effective forest management approaches to meet sustainable goals such as improving air quality and reducing negative environmental impacts. On the other hand, huge costs associated with the deployment of precision forestry solutions may hamper the precision forestry market growth in developing countries.
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