Satellite technology to generate an estimated $250 billion in social and economic benefits across the world by 2030 – GSOA Report

Date: 2023-09-26
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The Global Satellite Operators Association (GSOA) has revealed that the use of Satellite is expected to bring an estimated $250 billion in social and economic benefits across the world by 2030.

In a recently released report titled “Satellite for SDGs-Transforming Lives” the GSOA noted that Satellite technology is a powerful tool that contributes to the achievement of multiple SDGs by providing valuable data and enabling communications and connectivity in even the most remote and underserved areas.

“It plays a vital role in monitoring progress, improving decision-making, and facilitating sustainable development efforts worldwide. Satellite technology plays a crucial role in advancing the United Nations Sustainable Development Goals (SDGs) in various ways,” it said.

Acknowledging that the SDGs are a set of 17 global goals adopted by UN member states in 2015 to address a wide range of social, economic, and environmental challenges by 2030, the report explained that connectivity through satellite technology contributes to bridging the digital divide and accelerating digital transformation, adding that the key to the future of connectivity relies on pooling the strengths of different technologies to increase cost efficiency and coverage, whilst simultaneously working together to deliver the exceptional resilience and greater availability of services.

“Enabling connectivity in remote and underserved areas contributes to promoting access to information and communication technologies (ICTs) and supporting economic development. By nature, the satellite industry is committed to bridging and overcoming barriers and challenges by providing connectivity and services to the most vulnerable, isolated and remote citizens and regions,” it added.

Elaborating on the potential benefits of Satellite usage, the report disclosed how Satellites could be used for data collection in many areas, such as climate change, deforestation, land use like air and water quality, deforestation, and changes in ecosystems, which also helps in disaster prediction, preparedness, and response, as it enables early warning systems for natural disasters like hurricanes, floods, and wildfires.

“They can also provide information on crop health, soil moisture, and weather patterns. This data is valuable for improving agricultural practices and for increasing food production and food security. In summary, satellite technology is a powerful tool that contributes to the achievement of multiple SDGs by providing valuable data and enabling communication and connectivity in even the most remote and underserved areas. It plays a vital role in monitoring progress, improving decision-making, and facilitating sustainable development efforts worldwide,” it stated.

 

By:  Nana Appiah Acquaye

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