[Recap: In the first part of this series we discussed the common barriers against democratising data, and how the geospatial sector needs to embrace an application-focused, commoditisation approach to space data]
The overwhelming majority of EO companies are small, project-based consultancies. And there’s no ambition for anything more.
Global growth is institutionally discouraged. Instead, the C-suite are comfortable making their bread and butter from a scattering of lack-lustre, yet lucrative, projects.
This is a key hidden reason product is vastly unexplored in the geospatial-space sector. While commercial sectors are embracing a product-focused culture, downstream space organisations are resistant to the change.
Ultimately, established geospatial companies don’t have the appetite or the investment capacity to make it happen. Especially with the effects of Covid-19 still lingering; most companies just want to survive.
For this reason, the market for space data products is relatively unexplored territory. And with a lack of diversity in the sector, we’ve created an ‘echo chamber’ environment that certainly doesn’t cultivate new, breakaway ideas.
How 4EI do it
We’re in a luxurious position compared to many people in the market. We’re small enough to be more agile and place our sights higher than the people who have come before. Our innovative spirit has also given us the opportunities to grow over the past few years – so we’re excited by ambition, it’s one of our core company values, not fearful of it.
The next blog in the series will be published tomorrow – discussing the second barrier to data democratisation “’Product’ paucity”.