ASEAN To See US$100 Bln Boost To GDP With Increased EO Data Adoption -- Report

SINGAPORE, Feb 11 (Bernama) -- The increased adoption of Earth Observation (EO) data across Southeast Asia is estimated to contribute an additional US$100 billion to the region’s gross domestic product (GDP) cumulatively from 2023 to 2030, according to a report launched today.

The report co-authors, Deloitte and Singapore Space & Technology Ltd (SSTL), stated that in the region, the economic value of EO could triple from US$15 billion in 2023 to US$45 billion by 2030.

They said this growth offers immense opportunities for private sector innovation, resilience, and solutions across industries such as agriculture and infrastructure.

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“Agriculture, mining and oil and gas, electricity and utilities, and government services are set to capture 90 per cent of the economic benefits in the region, driven by increased adoption of EO,” they added in a joint statement following the release of the report titled Space to Thrive: Southeast Asia Space Industry on The Rise.

Economic benefit refers to the gross value added to GDP. In the context of EO, this is equivalent to the contribution of technology and EO-derived information to GDP through increased productivity and avoided costs, such as losses from disasters.

Deloitte Southeast Asia’s Centre for the Edge co-leader Michelle Khoo told a media briefing that Indonesia is anticipated to gain the largest share of the economic benefits, followed by four countries – Vietnam, the Philippines, Malaysia, and Thailand – which will equally enjoy the direct benefits of EO adoption.

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Meanwhile, Singapore, due to its limited surface area, will derive substantial indirect benefits owing to its role as a regional technology and capital hub as well as a key solutions provider for the region.

Regarding Malaysia, the report stated that EO technologies could help tackle challenges faced by the country’s oil and gas industry, such as using synthetic aperture radar (SAR) imaging technologies to detect oil spills in real time.

“EO data could also transform Malaysia’s real estate and construction sectors by enabling data-driven decisions in site selection, market analysis and risk management. In construction, satellite imagery can offer real-time monitoring of construction sites, allowing stakeholders to oversee construction progress without being on-site,” the report said.

SSTL chairman Jeremy Chan said the report provides critical insight into the wide-ranging applications of space technology across sectors such as agriculture, finance, smart cities and disaster monitoring.

“It also emphasises the role of space as an enabler for non-space industries, opening new commercial opportunities for businesses to leverage space technology and innovation,” he said.

The release of the Space to Thrive: Southeast Asia Space Report sets the stage for the upcoming Global Space Technology Convention & Exhibition (GSTCE) 2025, which will take place from Feb 26 to 27 at the Marina Bay Sands Expo.

Chan said this year’s GSTCE, themed “Commercialising Space – New Frontiers in Disruptive Innovation”, will feature Japan as the featured country and is set to host 60 exhibitors, more than double the number at previous editions.

-- BERNAMA