The Φ-lab has been established to exploit and stimulate the favourable conditions of the European Earth Observation market, by boosting its innovative ethos to enable a vibrant and worldwide competitive commercial sector.
The space economy is growing at the double of the global economy (+6,7%), and the European EO service market even faster: 9.7% in 2019 YoY.
This is thanks to the convergence of severable favourable conditions that we call “The Earth Observation perfect storm”.
Major technology advancements are yielding powerful sensors that can be sent in space at low cost. Huge computational power is now available that, together with the “digital revolution” innovations, change the way we treat data to obtain actionable information and insights.
This makes available to industry and researchers even more EO data than before, which is exploited by a new way of connected thinking in the community arising from the new generation of EO people who find it natural to interact in a deeply connected way while seeking solutions.
A new entrepreneurial spirit in EO is leveraging off all of the above generating innovative busines models and broadening the customer base, making EO the new home for large risk capital investments (15BN$ worldwide since 2000).