Geospatial technology, much like digitalization, has had its ups and downs, and is currently booming. Advances in cloud computing and mobile technology, its affordability and accessibility have provided a powerful computing resource. The Big Data revolution and bulks of invaluable geo-data going public have further scaled up the geospatial expansion across governments, public agencies and businesses. We are at a point where most global processes have become geospatial data-driven. GIS tech is leveraged by businesses to generate more insights and drive more revenues; geospatial empowers the UNO and environmental organizations of any scale in achieving the overarching missions of fighting poverty, reducing the human impact on climate, protecting health. It is the public need that’s pushing the development of geospatial towards digitalization.
The geospatial industry today is centered around two things: data generation and data analysis, which enable the creation of full-value products and services for end users. Product integrity and completeness are shaping the process of technology development, and considering the lowering barriers to entry in tech — we are likely to see a lot of such innovations coming in the near future.
Success lies in combining technologies
Technologies are a fine matter that requires balance, as there’s always a risk of having technology for technology’s sake. Artificial intelligence, deep learning, IoT — these are not buzzwords, but biz-words today. They push the geospatial industry forward, both through the use of single methods within the technology or by using the combination, i.e. data fusion. We believe that the combination of technologies is the key to creation of new successful products. Globally, there are two clearly visible trends: consolidation of market players and vertical integration, along with creation of a synergy by combining different types of data (optical, radar data, LiDAR, etc.) to increase the accuracy of provided solutions.
EOS Data Analytics company aims to hold focus on data processing and creation of relevant tools, and is already working on the combined analytical solutions, which will embrace data of various formats and from different sources. Additionally, mutual integration of services for processing, storing, visualizing and analyzing this data will allow us to create a synergy.
On the macro scale, we are considering a shift towards both vertical integration in the economic value chain and a horizontal integration in terms of strategic partnerships development and implementation of joint projects.
Real-time data analytics is going to be the key asset
In times to come, real-time data analytics is going to be the key asset in creating solutions for prevention of damage to the natural resources. The IoT industry will grow, enabling us to better understand the environment and effectively manage the non-renewable resources.
With more powerful future satellite sensors and increased imaging capacity, we’ll be able to scan deep within the earth, beyond the 5-cm depth, and gain some literally in-depth insights. This goes in accord with EOS’ motto: “we are listening to the pulse of the planet!”
One of digitalization’s key enablers is fast and reliable decision-making. So is data accessibility, which propels technology growth and calls forth market demand. Even then, only 5% of imagery collected by Earth observation satellites is being utilized (despite open access). There are still barriers left to overcome in making remote sensing “a thing for everyone.”
EOS is one of the companies set to drive this change as soon as possible. We are developing methods of analysis and simplify access to geospatial data, trying to shape a brand-new industry.