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article__title t3p0-unlocked-content"><h1> How Private Companies Can Benefit from Earth Observation </h1></div><div class="t3p0-field t3p0-field-text sub-heading t3p0-has-value t3p0-unlocked-content">The Earth Observation space mostly serves the public sector today, but private companies can benefit from this data, too.</div><div class="t3p0-row row article__author"><div class="t3p0-col col-sm-12"><div class="t3p0-field t3p0-field-author article__author-name t3p0-unlocked-content"><div class="t3p0-row row "><div class="t3p0-col col-sm-12"><div class="t3p0-field t3p0-field-file article__author-image t3p0-unlocked-content"><figure> <img data-original="https://s3.divcom.com/www.geoweeknews.com/images/scott-howe.png.large.1024x1024.png.medium.800x800.png" alt="" title="" class="img-responsive"> <figcaption class="t3p0-field-file-caption"></figcaption></figure> </div><div class="t3p0-field t3p0-field-field article__author-name t3p0-unlocked-content"><a href="/author/scott-howe"> Scott Howe</a></div></div></div></div></div></div><div class="t3p0-field t3p0-field-taxonomy categories t3p0-unlocked-content"><ul> <li><a href="/earth-observation-satellite-applications">Earth Observation & Satellites</a></li> <li><a href="/lidar-geospatial">Lidar & Geospatial</a></li> </ul></div><div class="t3p0-field t3p0-field-select featured-spot t3p0-has-value t3p0-unlocked-content">Featured Spot 1</div><div class="t3p0-field t3p0-field-file article__featured-image t3p0-unlocked-content"><figure> <img data-original="https://s3.divcom.com/www.geoweeknews.com/images/2024-09-19-EO-Private-Hero.jpg.medium.800x800.jpg" alt="" title="" class="img-responsive"> <figcaption class="t3p0-field-file-caption">Shutterstock</figcaption></figure> </div><div class="t3p0-field t3p0-field-block t3p0-unlocked-content"><div class="t3p0-row row "><div class="t3p0-col col-sm-12"><div class="t3p0-field t3p0-field-wysiwyg t3p0-has-value t3p0-unlocked-content"><p></p><div class="sharethis-sticky-share-buttons"></div><p></p></div></div></div> </div><div class="t3p0-field t3p0-field-wysiwyg article__body t3p0-has-value t3p0-unlocked-content"><p class="MsoNormal"><span>The Earth Observation (EO) space is largely focused on government and intelligence operations—and for good reason. These fields need extensive and comprehensive data about our planet to perform a wide variety of tasks, including anticipating and responding to natural disasters, monitoring facilities, and keeping people and property secure. Detailed, comprehensive information derived from satellites (or from newer technologies) is essential to the safe and orderly functioning of our world.<o:p></o:p></span></p><p class="MsoNormal"><span>While the value EO offers to government and intelligence work is clear, what’s less well understood is how EO can help private companies. At present, companies working in fields such as energy and utilities, insurance, and infrastructure use EO in their work, but the use is not widespread. As noted in a </span><a href="https://payloadspace.com/the-state-of-earth-observation/" target="_blank" rel="noopener"><span>Payload</span></a><span> article, “EO insiders estimate today’s market consists of about 50% US government, 25% allied government, and 25% commercial.”<o:p></o:p></span></p><p class="MsoNormal"><span>That commercial percentage is sure to grow as more and more opportunities become available through growth and advancements in the EO sector. According to </span><a href="https://www.weforum.org/publications/amplifying-the-global-value-of-earth-observation/" target="_blank" rel="noopener"><span>a recent Deloitte report</span></a><span>, “the economic opportunity afforded by Earth observation (EO) insights is projected to surpass $700 billion” by 2030.” Stating that EO “allows us to make better decisions with better data,” the report stated that the value derived from this improved data “productivity increases and cost avoidance which both yield economic value-added.”<o:p></o:p></span></p><p class="MsoNormal"><span>The many </span><a href="https://www.weforum.org/agenda/2024/05/earth-observation-will-unlock-huge-value-for-these-6-industries/" target="_blank" rel="noopener"><span>industries that are currently benefitting from EO</span></a><span> include agriculture, which uses satellite data to inform planting and harvesting decisions and reduce harmful emissions, and utilities, where EO information helps with site selection and infrastructure management. In addition, EO is helping insurance companies better assess risks, mining and energy operations monitor extraction and transmission work, and transportation companies track shipments and manage supply chains.<o:p></o:p></span></p><p class="MsoNormal"><span>There are many real-world examples of companies that are currently tapping into these resources to increase efficiency and boost profitability. In the utilities sector, Satelytics and Georgia Power are collaborating on a project that uses “advanced AI-powered geospatial analytics monitor and safeguard the health of lakes and reservoirs that constitute the organization’s hydroelectric system.” As reported earlier this year in </span><a href="https://www.geoweeknews.com/news/satelytics-geospatial-analytics-georgia-power-ai-artificial-intelligence-satellite"><span>Geo Week News</span></a><span>, the effort involves the analysis of satellite-derived images to find areas that may cause problems for the system. Through the effort, the partners are “able to pinpoint subtle differences in terrain, vegetation, and building structure, and instantly bring these to Georgia Power's attention for remediation.”<o:p></o:p></span></p><p class="MsoNormal"><span>Building on successful efforts like the one described above, other firms are looking to expand and improve the ways EO can help businesses. E</span><span>arlier this year, for example, </span><a href="https://nuview.space/" target="_blank" rel="noopener"><span>NUVIEW</span></a><span> became the first company to launch a satellite with lidar. In May, NUVIEW announced </span><a href="https://www.geoweeknews.com/news/nuview-lidar-satellite-earth-elevation-map"><span>its plan to create a commercial lidar satellite constellation</span></a><span> aimed at mapping the entire land surface of the Earth in 3D on an annual basis. Enthusiasm for the project has gained NUVIEW $1.2 billion in letters of intent and data purchase option agreements</span><span><o:p></o:p></span></p><p class="MsoNormal"><span>Also helping boost the adoption of EO in the private sector is an effort by the EO company </span><a href="https://satellogic.com/" target="_blank" rel="noopener"><span>Satellogic</span></a><span> to release </span><a href="https://www.geoweeknews.com/news/satellogic-open-data-release-satellite-imagery-earth-observation-ai-models"><span>a large dataset of high-resolution satellite imagery</span></a><span> from its archive. In May, the company released six million images of three million unique locations from a variety of areas all around the world. Available on </span><a href="https://huggingface.co/datasets/satellogic/EarthView" target="_blank" rel="noopener"><span>Hugging Face</span></a><span>, these images were made available under a license that allows for commercial use with attribution.<o:p></o:p></span></p><p class="MsoNormal"><span>Looking ahead, artificial intelligence (AI) could spur even greater adoption of EO in the commercial sector. Throughout the EO world, efforts are underway to adapt AI to parse EO data and make it more accessible to industries that are new to the space. <o:p></o:p></span></p><p><span>One of the most intriguing efforts in this area comes from the European Space Agency (ESA), which recently launched its </span><span><a href="https://www.esa.int/Applications/Observing_the_Earth/Phsat-2/New_satellite_to_show_how_AI_advances_Earth_observation" target="_blank" rel="noopener">Φsat-2 satellite</a></span><span>. Equipped with a multispectral camera and an AI computer to analyze and process imagery onboard, the satellite can “turn images into maps, detect clouds in the images, classify them and provide insight into cloud distribution, detect and classify vessels, compress images on board and reconstruct them in the ground reducing the download time, spot anomalies in marine ecosystems and detect wildfires.” This effort, the ESA stated, could greatly benefit governments, researchers, and businesses.</span></p></div><div class="end-of-article-promo-box" style="background-image: url('https://divcomplatformstaging.s3.amazonaws.com/geoweek.divcomstaging.com/images/2018_UAV_0042_d.jpg.large.1024x1024.jpg');"> <div class="t3p0-field t3p0-field-wysiwyg end-of-article-promo-box__inner t3p0-no-value t3p0-unlocked-content"></div></div><div class="t3p0-field t3p0-field-block block__article-end-subscribe t3p0-unlocked-content"><div class="t3p0-row row "><div class="t3p0-col col-sm-12"><div class="t3p0-field t3p0-field-wysiwyg t3p0-has-value t3p0-unlocked-content"><div class="subscribe-bg-img"><img src="https://divcomplatformstaging.s3.amazonaws.com/geoweek-platform.com/images/75e1362694e111e20ce2c5589097c4e5.png" alt="" width="800" height="400" caption="false" captiontext="" /></div><h4>Want more stories like this? Subscribe today!</h4><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script><script src="//discover.divcom.com/js/forms2/js/forms2.min.js"></script><form id="mktoForm_4974"></form><script>// <![CDATA[ MktoForms2.loadForm("//discover.divcom.com", "756-FWJ-061", 4974); // ]]></script></div></div></div> </div><div class="t3p0-field t3p0-field-taxonomy tags t3p0-unlocked-content"><ul> </ul></div><br/><hr/><h2>Read Next</h2><span class="related__sub-heading">Related Articles</span><div class="t3p0-field t3p0-field-collection clearfix t3p0-unlocked-content"><div class="t3p0-row row related-content related-content--below-article"><div class="t3p0-col col-sm-12"><div class="t3p0-row row "><div class="t3p0-col col-sm-3"><div class="t3p0-field t3p0-field-file t3p0-unlocked-content"><a href="/news/earth-observation-satellite-imagery-geospatial-data-european-space-agency" title="Report from European Space Agency Highlights Power of Earth Observation"> <figure> <img data-original="https://s3.divcom.com/www.geoweeknews.com/images/2024-10-30-ESA-EO-Report-Hero.jpg.small.400x400.jpg" alt="Observation of the planet Earth from space." title="" class="img-responsive"> <figcaption class="t3p0-field-file-caption">Shutterstock</figcaption></figure> </a> </div></div><div class="t3p0-col col-sm-9"><div class="t3p0-field t3p0-field-field date t3p0-unlocked-content">October 30, 2024</div><div class="t3p0-field t3p0-field-field t3p0-unlocked-content"><h3> <a href="/news/earth-observation-satellite-imagery-geospatial-data-european-space-agency"> Report from European Space Agency Highlights Power of Earth Observation </a> </h3></div></div></div></div></div><div class="t3p0-row row related-content related-content--below-article"><div class="t3p0-col col-sm-12"><div class="t3p0-row row "><div class="t3p0-col col-sm-3"><div class="t3p0-field t3p0-field-file t3p0-unlocked-content"><a href="/blogs/lidar-geospatial-industry-mapping-surveying-earth-observation-data-management" title="Around the Lidar and Geospatial Industries: Mapping, Earth Observation, Data Management"> <figure> <img data-original="https://s3.divcom.com/www.geoweeknews.com/images/2024-07-15-ILMF-ATI-Hero.jpg.small.400x400.jpg" alt="" title="" class="img-responsive"> <figcaption class="t3p0-field-file-caption">Shutterstock</figcaption></figure> </a> </div></div><div class="t3p0-col col-sm-9"><div class="t3p0-field t3p0-field-field date t3p0-unlocked-content">July 15, 2024</div><div class="t3p0-field t3p0-field-field t3p0-unlocked-content"><h3> <a href="/blogs/lidar-geospatial-industry-mapping-surveying-earth-observation-data-management"> Around the Lidar and Geospatial Industries: Mapping, Earth Observation, Data Management </a> </h3></div></div></div></div></div><div class="t3p0-row row related-content related-content--below-article"></div> </div><div class="t3p0-row row article__author-bio"><div class="t3p0-col col-sm-12"><div class="t3p0-field t3p0-field-author t3p0-unlocked-content"><div class="t3p0-row row "><div class="t3p0-col col-sm-12"><div class="t3p0-field t3p0-field-file article__author-image t3p0-unlocked-content"><figure> <img data-original="https://s3.divcom.com/www.geoweeknews.com/images/scott-howe.png.large.1024x1024.png.medium.800x800.png" alt="" title="" class="img-responsive"> <figcaption class="t3p0-field-file-caption"></figcaption></figure> </div><br/><span>About the Author</span><strong><div class="t3p0-field t3p0-field-field t3p0-unlocked-content"><a href="/author/scott-howe"> Scott Howe</a></div></strong><em><div class="t3p0-field t3p0-field-text t3p0-has-value t3p0-unlocked-content">Editorial Analyst</div></em><div class="t3p0-field t3p0-field-wysiwyg t3p0-has-value t3p0-unlocked-content"><p><span>Scott Howe is the Editorial Analyst for Commercial UAV News. 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