India, Indonesia, and Russia are the fastest growing demand hubs within the $5.3 billion Smart Forestry market and expected to grow with a CAGR range of 11.1% and 14.8% for the period of 2024 to 2030. Forest monitoring and wildfire management are major application areas for Smart Forestry and market competition is fierce in these applications. Cutting edge GIS technology and drones used in forestry provide proactive wildfire monitoring and early warning systems to assist authorities in responding quickly and efficiently to wildfires outbreaks. This is bolstered by industry players, like DroneDeploy and GIS service providers working together to improve response times to wildfires and reduce the extent of damage caused.
Leading players in such as Trimble, Planet Labs, ESRI, IBM Watson, DroneDeploy, John Deere, GeoDigital, AG Leader, SATelligence, Hummingbird Technologies, Treevia and CollectiveCrunch are pushing the boundaries of innovation and forging strategic partnerships to capture larger market share.
Check detailed insights here - https://datastringconsulting.com/industry-analysis/smart-forestry-market-research-report
Forest conservation is now more directed towards achieving carbon neutrality by using technology to oversee and improve the absorption of carbon in forested areas. This plays a role, in addressing climate change challenges.
Global Regional Analysis
As per research study, Smart Forestry is expected to rise to $21.5 billion by 2035 from $5.3 billion of 2023 with a CAGR of 12.3%. North America is at the forefront of embracing forestry practices thanks to its well developed technology infrastructure and vast forest reserves. A significant advantage for this region is the support from government funding and active participation of enterprises, in promoting sustainable forestry projects.
About DataString Consulting
DataString Consulting assist companies in strategy formulations roadmap creation including TAM expansion, revenue diversification strategies and venturing into new markets; by offering in depth insights into developing trends and competitor landscapes as well as customer demographics. Our customized direct strategies, filters industry noises into new opportunities; and reduces the effective connect time between products and its market niche.
DataString Consulting is a professional market research company which aims at providing all the market business research solutions under one roof. Get the right insights for your goals with our unique approach to market research and precisely tailored solutions. We offer services in strategy consulting, comprehensive opportunity assessment across various sectors, and solution-oriented approaches to solve business problems.
