For years, the EO industry has struggled to unlock barriers related to technical skills, awareness, policy and more that would fundamentally shift the rate of adoption of EO.
The challenge of transforming information to insights and insights into action are not unique to EO; they persistently slow technology adoption, especially in “big data” applications.
The potential is evident, and the technical feasibility has been confirmed, but there are not enough people using this technology. The question then arises: what would happen if they did?
- The global value of EO data is estimated to be worth $266 billion as of 2023.
- By 2030, that value could exceed $700 billion, with a cumulative $3.8 trillion contribution to global GDP between 2023- 2030.
- While driving significant economic impact, EO can also inform actions with the potential to eliminate 2 Gt of GHG emissions every year while contributing to nature-positive strategies. $3.8 trillion contribution to global GDP between 2023-2030. BOX 4
These figures are the result of a bottom-up examination of the direct economic and climate benefits that can be ascribed to EO through dozens of unique applications and an extrapolation of those benefits across all regions and industries (see Figure 6).
The maximum potential value of each EO application is then scaled down based on modelled adoption rates.
Refer to Appendix 1 for more details on methodology.
Industries with the most value to gainSix industries stand to capture 94% of the projected economic value.
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