Industry revenue for Smart Forestry is estimated to rise to $21.5 billion by 2035 from $5.3 billion of 2023. U.S., Canada, and Brazil are the top 3 markets and followed by Finland and Sweden. These major five combinely holds substantial demand share and compounded annual sales growth of market players in these countries are expected to range between 11.1% and 14.8% annually for period 2024 to 2035.
Industry Leadership and Strategies
North America and Europe are the two most active and leading regions in the market. With challenges like high cost of technological implementation, data privacy and regulatory challenges and limited infrastructure in remote areas, Smart Forestry market’s supply chain from technology providers / data analytics providers / forest management agencies to service providers, is expected to evolve expand further. Companies such as Trimble, Planet Labs, ESRI, IBM Watson, DroneDeploy, John Deere, GeoDigital, AG Leader, SATelligence, Hummingbird Technologies, Treevia and CollectiveCrunch are well placed in the market.
Industry Opportunities
Growing Carbon Credit Market: Due to the rise in carbon offset initiatives strategic forestry practices are now key, in measuring carbon storage. Landowners can utilize technology to track carbon absorption levels allow them to engage in carbon trading markets
Emerging AI-Driven Reforestation Initiatives: Harness the power of AI and drone innovations to drive automated reforestation initiatives effectively by deploying drones for seed planting, in areas that have been affected by deforestation.
For a more detailed analysis and report visit - https://datastringconsulting.com/industry-analysis/smart-forestry-market-research-report
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