Understanding the Role of Commercial Earth Observation Solutions to Empower Economy

In the dynamic realm of Earth Observation (EO), the global market for commercial EO data and services is poised to reach $7.6 billion by 2032, according to industry data.

Space technology and assets are now no longer confined to the realms of to the R&D projects for defense and Government alone. In fact, the World Economic Forum predicts the space economy to reach $1.8 trillion by 2035, up from $630 billion in 2023, growing at an average of 9% per annum.

EO Solutions May Serve as an Economic Backbone

A recent report by WEF and McKinsey stated that the space economy will play a “key role” in helping businesses across industries in revenue generation.

Factors such as evolving customer demands, changes in the geopolitical landscape, technological developments have led to an increased demand for commercial Earth Observation (EO) data and services.

Applications built using satellite remote sensing data have the potential to impact industries including agriculture, infrastructure, aviation, defense, sustainability, logistics, environment, banking & finance, blue economy, communications, disaster management and the list goes on.

The potential for growth and opportunity has caught the attention of investors. While investors are still cautious of the evolving market, there is a clear understanding of the future potential which has sparked interest for investments.

Just as needs abound, so too do challenges. There is a notable lack of awareness about how satellite data can be leveraged to solve problems on the ground. Additionally, access to high-resolution satellite imagery for building applications is a barrier and is also a costly endeavor.

Yet, where challenges arise, solutions emerge. This is precisely where SatSure steps in.

Solving Challenges with Decision Intelligence from Space

At SatSure, we are researching and developing the best possible solutions to harness satellite imagery and build data applications that solve the current challenges in the sectors of agriculture, agri-finance, insurance, utilities and aviation. We tailor our solutions to bridge the gaps experienced by our customers and ensure that they can completely leverage the potential of EO solutions to drive growth in their businesses.

For instance, to solve for the image acquisition and cost challenges for higher resolution, our team has developed SatSure Super Resolution, a deep learning model that enhances the spatial resolution of Sentinel-2 imagery by fourfold.

The imagery is transformed from 10 meters to 2.5 meters while preserving structural, perceptual, and spectral characteristics. This solution can help businesses build better insights across applications like agriculture, forestry, environmental monitoring, urban planning, disaster management, and beyond.

Addressing Sectoral Challenges

Agriculture

Globally, with over an estimated 570 million farms, accurate farm boundary data has the potential to empower stakeholders throughout the agri-value chain. Precise digitized farm boundaries become fundamental for a range of agricultural applications.

SatSure’s automated farm boundary delineation (FBD) model leverages SatSure Super Resolution model to provide precise farm boundary data. Our solution has demonstrated an average of 91% model accuracy derived with an F1 score and 0.81+ IoU (Intersection over Union).

Trade

Last year, the European Union Deforestation Regulation (EUDR) came into force to address the challenges related to deforestation and forest degradation associated with the expansion of agricultural land, driven by production of six key commodities (‘EUDR Commodities’) which include, cattle, cocoa, coffee, palm oil, rubber, soy, wood and derived products (‘EUDR products’) from it like leather, chocolate, tyres, or furniture etc.

At SatSure, we have leveraged remote sensing to unveil an end-to-end solution for traders and operators to ensure EUDR compliances. Our solution uses a combination of satellite remote sensing and traceability solution with our credible partners to help tackle the following requirements:

• Deforestation Monitoring for coffee, cocoa, palm oil and Soy.
• Traceability Solution for Six Commodities and their derived products.
• Combined reporting for audit using deforestation analysis and traceability output.

Banking and Finance 

Banks often find it difficult to take agricultural loans disbursement decisions due to lack of comprehensive data. With SatSure Sage, we are working towards addressing this challenge through digitization and remote sensing. Our SatSource report offers insight into more than 22+ different parameters, including crop grown, land under irrigation, yield, climatic-risks, income potential which helps banks to streamline their decision-making process.

Led by SatSure Sage, our comprehensive solution is helping solve challenges across the different stages of loan lifecycle including:

Aviation

iNetra by SatSure is a contextual industry-specific solution for aviation. It is an aeronautical data management tool that supports Aviation stakeholders across ANSPs, Airports and Airlines by supporting the AIS to AIM Digital Transformation journey.

The platform integrates processes related to aeronautical data ingestion, processing, and chart management in a unified manner thereby enhancing operational efficiency and compliance with global data exchange standards.

The New Space Growth for EO Applications

The New Space ecosystem is driving the growth today in the EO industry. Specifically, the extent of applications being developed for diverse sectors is growing with every single day. While there are challenges on data accessibility, cost of data and insights generation and data infrastructure fragmentation, the global innovation and collaboration, the underlying intent of the NewSpace Economy, is driving innovative solutions for these challenges.

SatSure is contributing to this new wave with its innovative solutions focusing on efficiency and delivery of affordability. By bridging the gaps in the current ecosystem, can the foundations of scale and transformative power of the EO technology can be built for the future.

To know more about our solutions, drop an email at info@satsure.co or visit www.satsure.co.