WEF – Amplifying the Global Value of Earth Observation, 2024

Earth observation (EO) is a valuable tool that not only benefits the space industry and scientific community but also drives economic development by providing data that can support businesses and organizations in various sectors. The potential value-added from EO data is estimated at $266 billion in 2023, with a projected growth to over $700 billion by 2030, contributing a cumulative $3.8 trillion to global GDP between 2023-2030. EO applications in industries such as agriculture, electricity, government, insurance, and transportation are expected to drive the majority of this value. Additionally, EO has the potential to reduce greenhouse gas emissions by more than 2 gigatonnes annually. The authors emphasize that leveraging EO for both business and environmental goals can lead to dual value applications that amplify the impact on climate and nature. However, to fully realize the potential of EO, there needs to be increased adoption and awareness among end-users, as well as investments in innovation and technology. The study also highlights the growth of the commercial EO industry and the immense opportunities it presents for economic and environmental benefits globally. Ultimately, integrating EO into the global economy will require collective actions and investments across the EO value chain.