Observations of Earth’s magnetic field from space began more than 50 years ago. A continuous monitoring of the field using low Earth orbit (LEO) satellites, however, started only in 1999, and three satellites have taken highprecision measurements of the geomagnetic field during the past decade. The unprecedented time-space coverage of their data opened revolutionary new possibilities for monitoring, understanding, and exploring Earth’s magnetic field. In the near future, the three-satellite constellation Swarm will ensure continuity of such measurement and provide enhanced possibilities to improve our ability to characterize and understand the many sources that contribute to Earth’s magnetic field. In this review, we summarize investigations of Earth’s interior and environment that have been possible through the analysis of high-precision magnetic field observations taken by LEO satellites.