Putting the Earth observation into ‘the market perspective’

With a boom in the global market for Earth observation information and data products, participants at this year’s Φ-week conference have been digging deep into the ‘market perspective’. This important topic includes how to gain a better understanding of what governments, industry, the public and other users of Earth observation products and services need and expect to create value for society and the economy.

According to the latest report from the Geospatial Industry Outlook and Readiness Index, GeoBuiz, the Earth observation industry as a whole is estimated to have been worth almost US $58 billion in 2019, rising to almost US $76 billion in 2020. Moreover, it is thought that this steep rise merely marks the beginning of bigger things to come.

In addition, with respect to Europe industry, the 2021 survey published by the European Association of Remote Sensing Companies, EARSC, indicates that in 2020 there was a 24% growth in the number of companies associated with the Earth observation industry, as well as a 24% increase in revenue and a 17% rise in employees, compared to 2019.

Read the full article on www.esa.int