As you can probably tell, at Blue Sky, our favourite words are space, climate and data, so we decided to build right at the intersection of these three exciting sectors. Here's an overview of these markets!
The Downstream 'Space'
The Space Economy is expected to triple in size by 2030!
- Satellite launches
- Satellite Internet
- Deep Space Exploration
- Earth Observation
Though, the number of satellites in operation have doubled in just 5 years, but only a small fraction of the satellite imagery is in a format that can be applied to real-world use-cases. As more satellites circle Earth's orbit, the demand to make sense of all this data is gaining momentum, making downstream analytical services very important.
"The upstream space market, with its rocket launches and high-tech satellite payloads, may seem at a first glance to be the most exciting segment of the space industry. But when it comes to innovation, job and revenue creation & the provision of services that change people’s lives for the better, the downstream market is where the action is" - New Space Economy forum in Rome on December 12, 2019
Climate-tech has seen a massive jump in investments in the last 5 years, with Climate-Tech VC Investing topping $17 billion in 2020 i.e. 6% of total capital invested.
The growth rate of VC investments into Climate-Tech was 3x that of AI over the same time period.
While the space is still at a nascent, evolving stage, the push for climate action is undeniable.
Attaining net zero carbon emissions will require a systemic transition by companies, governments and technologies and we have seen capital flow into various climate-tech segments from mobility to agriculture to earth data generation.
Big Data and the rise of APIs
With the advent of IoT, Cloud migration and APIs, Big Data is set to be a $230 Billion market by 2025.
While solutions range from data management to fraud intelligence, data analytical services are going to hold particular significance in the coming years. The Data Analytics Market alone is set to hit $133 Billion by 2026.
- Firstly, APIs make data delivery to end users straightforward. For example, one can simply sign up on Betaal, our Dev Portal, chose from the list of APIs available and start accessing data!
- Secondly, APIs connect players at different stages of the value chain more seamlessly. For example, Blue Sky is able to access huge volumes of satellite data for further analysis via simple APIs that NASA provides!
The last decade of data-based innovations majorly focused on financial and advertisement data. Our thesis is that in the 2020s, the focus would be on Climate Action and hence, environmental datasets will be the most sought- after.
- There is a need for downstream analytical capabilities for pre-existing satellite data and incoming datasets (growing rapidly).
- There is a push to use Earth Observation data to identify appropriate use-cases and enable Climate action.
- The times demand fast, easy and scalable integration of data via APIs, coupled with advanced visualisation tools, high-quality datasets and support services.
Hence, Blue Sky operates in the downstream market, providing the essential analytical layer in the value chain. By means of our geospatial data refinery, we are building a catalog of high-resolution environmental data APIs for informed decision making in response to the fast-unfolding climate crisis.