PUBLISHER: The Business Research Company | PRODUCT CODE: 1500066
PUBLISHER: The Business Research Company | PRODUCT CODE: 1500066
Forestry software represents specialized technology tailored to enhance and streamline diverse aspects of forest management, encompassing inventory tracking, planning, sustainability assessment, and resource optimization. Its implementation fosters efficiency and informed decision-making within the forestry sector. The principal aim of forestry software is to facilitate the effective management and optimization of forestry operations and resources.
The primary categories of forestry software products include on-premises solutions and cloud-based platforms. On-premises forestry software denotes software installed and operated on computers situated within the organization's premises. These encompass various technologies such as cut-to-length, geospatial, and fire detection, serving a range of applications including forest management, logging management, mapwork harvesting, inventory, and logistics management, among others.
The forestry software market research report is one of a series of new reports from The Business Research Company that provides forestry software market statistics, including the forestry software industry global market size, regional shares, competitors with a forestry software market share, detailed forestry software market segments, market trends, and opportunities, and any further data you may need to thrive in the forestry software industry. This forestry software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry
The forestry software market size has grown rapidly in recent years. It will grow from $1.07 billion in 2023 to $1.28 billion in 2024 at a compound annual growth rate (CAGR) of 19.2%. The growth observed in the historical period can be credited to several factors, including the heightened demand for sustainable forestry solutions, the increasing integration of big data in forestry practices, the growing necessity for data-driven decision-making in forestry operations, and a mounting emphasis on sustainability and environmental conservation.
The forestry software market size is expected to see rapid growth in the next few years. It will grow to $2.62 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%. Looking ahead to the forecast period, growth is anticipated due to a rising imperative for operational efficiency, an increasing demand for real-time monitoring capabilities, the integration of Geographic Information Systems (GIS) and remote sensing technologies, and a growing awareness of carbon sequestration initiatives. Key trends expected in the forecast period include heightened integration of artificial intelligence (AI) and machine learning (ML) algorithms for advanced data analysis, a surge in the adoption of Internet of Things (IoT) devices, advancements in blockchain technology, the uptake of virtual reality (VR) and augmented reality (AR) solutions, and an expansion of cloud-based offerings.
The growing demand for forest products is anticipated to drive the expansion of the forestry software market in the future. Forest products encompass a wide array of materials derived from forests, including both wood and non-wood resources. Compared to non-renewable alternatives such as concrete, steel, and plastic, forest products offer environmental advantages such as sustainability and carbon sequestration awareness. Forestry software equips forest managers with the necessary tools and insights to optimize forest resources, enhance operational efficiency, ensure regulatory compliance, and promote sustainable forest management practices, thereby facilitating increased production of forestry products. For example, the United States International Trade Commission reported that in 2021, the value of U.S. domestic exports of forest products surged by $5.9 billion (an 18.2 percent increase) to $38.0 billion compared to 2020, indicating that the rising demand for forest products is fueling the growth of the forestry software market.
Key players in the forestry software sector are developing cloud-based solutions for log settlement to streamline and automate the tracking, valuation, and settlement of log transactions. This innovative approach enhances efficiency, accuracy, and transparency in forestry operations. Cloud-based log settlement solutions offer forestry companies a scalable, secure, and cost-effective method for managing log procurement, measurement, valuation, and payment processes, ultimately improving operational efficiency, transparency, and compliance in the forestry supply chain. For instance, Trimble, a U.S.-based software company, introduced a new cloud-based version of its Log Inventory and Management System (LIMS) named LIMS PRO in July 2023. This cloud-hosted solution is tailored to enhance operational visibility and efficiency for small- and medium-sized forest product companies, enabling them to benefit from increased productivity and growth previously accessible only to large enterprises. By digitizing lumber supply chain workflows and providing features such as mobile ticketing, real-time reconciliation, and automated invoicing, LIMS PRO facilitates operational enhancement.
In April 2023, Waverock Software, a U.S.-based vertical software holding company, acquired PlanIT Geo for an undisclosed sum. This acquisition will provide PlanIT Geo with additional capital, resources, and operational expertise from Waverock Software, enabling the company to scale up and innovate its urban forestry software and consulting offerings. PlanIT Geo, a U.S.-based geospatial technology and software company specializing in urban forestry, planning, and natural resources, stands to benefit from the acquisition in terms of expanded growth opportunities and enhanced capabilities.
Major companies operating in the forestry software market are Trimble Inc., Forest Information Technology Systems Inc., Environmental Systems Research Institute Inc., Forest Green Rovers Ltd., EcoPlan Consulting, Mason, Bruce & Girard Inc., Silvacom Ltd., Remsoft Inc., Exacom Inc., Ecotimber Inc., Envirosight LLC, Forest2Market Inc., Ecometrica Limited, Ecovision Environmental LLC, Forest Metrix LLC, Azavea Inc., TreeTracker LLC, ForestEye Inc., Forestry Traction Inc., Ecotrust
North America was the largest region in the forestry software market in 2023. The regions covered in the forestry software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the forestry software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The forestry software market consists of revenues earned by entities by providing services such as timber tracking, GIS mapping, harvest planning, sustainability assessment, wildlife habitat management, and carbon sequestration tracking. The market value includes the value of related goods sold by the service provider or included within the service offering. The forestry software market also includes sales of data storage and processing systems, handheld measurement tools, RFID tags and barcode scanners, and remote sensing instruments. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Forestry Software Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on forestry software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for forestry software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The forestry software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.