The Use of Earth Observation Data for Agricultural Yield Enhancement
The Earth Observation Data in the Agriculture market was valued at US$0.5 billion in 2020. It is expected to reach US$1.4 billion by 2030. The market is expected to grow at a CAGR of 10.8% during 2020 – 2030.
The earth observation industry is continually developing, anticipating a seamless integration of new technologies, sensing modalities, and unconventional data sources. Various governments are also aiding by investing in satellite imaging and related technologies. Agriculture insurance providers are using EO data to get a better risk assessment. Farmers in urban areas started using EO for yield assessment and resource allocation. However, making it affordable and accessible to small-scale farmers is a typical challenge. Currently, there is a lack of scalable data for agricultural mapping and monitoring. Although EO is expected to improve agricultural productivity, difficulties in separating certain crop types & early-season identification within the growing season and the skill gap of farmers to understand EO data limit its growth.
Increasing launches of Earth-observing satellites with improved computer vision and improving data policies are allowing broader access to EO data. In addition, rapid advances in cloud and high-performance computing and the evolution of sophisticated space science technologies support the increased adoption of EO in agriculture.