How much is the geophysical data collection market worth, and how is it expected to expand?
The geophysical data collection market size has grown marginally in recent years. It will grow from $6.8 billion in 2024 to $6.91 billion in 2025 at a compound annual growth rate (CAGR) of 1.7%. The growth in the historic period can be attributed to resource exploration demands, energy sector requirements, infrastructure development needs, scientific research expansion, government investments.
The geophysical data collection market size is expected to see marginal growth in the next few years. It will grow to $7.48 billion in 2029 at a compound annual growth rate (CAGR) of 2.0%. The growth in the forecast period can be attributed to renewable energy expansion, data analytics and ai integration, remote sensing technologies, resilience and disaster management, smart agriculture and soil studies. Major trends in the forecast period include unmanned aerial vehicles (uavs) in data collection, integrated multi-sensor systems, climate-resilient infrastructure studies, geophysical data visualization technologies, big data and cloud computing integration.
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Which industry factors have accelerated the geophysical data collection market’s expansion?
The rise in demand for better understanding of reservoirs in production and design tasks to meet the world’s current and future energy needs contributed to the growth of the geophysical data collection market. An increasing population, rising living standards, and continuing economic development will require a vast amount of energy. According to the United Nations, the world population is projected to increase from 9.8 billion in 2050 to 11.2 billion in 2100. Fossil fuels are expected to meet more than 50% of primary energy demand as much of the world’s energy is produced by burning fossil fuels such as oil, coal, and gas. According to ET EnergyWorld, the demand for petrochemicals is estimated to double in the next 20 to 30 years, approximately, from 20 million barrels per day to 22 million barrels per day. Therefore, the increasing population combined with the increasing demand for resources is expected to have a positive impact on the growth of the geophysical data collection market.
What are the primary segments of the geophysical data collection market?
The geophysical data collection market covered in this report is segmented –
1) By Service: Data Acquisition, Data Processing, Interpretation
2) By Technology: 2D Imaging, 3D Imaging, 4D Imaging
3) By End User: Agriculture, Environment, Minerals & Mining, Oil & Gas, Water Exploration
Segmentations:
1) By Data Acquisition: Ground-Based Data Acquisition, Airborne Data Acquisition, Marine Data Acquisition, Remote Sensing Data Acquisition, Seismic Data Acquisition, Electromagnetic Data Acquisition
2) By Data Processing: Seismic Data Processing, Electromagnetic Data Processing, Magnetic Data Processing, Gravity Data Processing, Geophysical Modeling And Analysis, Data Filtering And Noise Reduction
3) By Interpretation: Seismic Interpretation, Geophysical Modeling And Inversion, Subsurface Mapping And Visualization, Data Integration And Analysis, Reservoir And Resource Estimation, Hazard And Risk Assessment Interpretation
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Which firms are leading the geophysical data collection market?
Major companies operating in the geophysical data collection market include Compagnie Générale de Géophysique SA, TGS-NOPEC Geophysical Company ASA, Dawson Geophysical Company, Geotech Ltd., Geophysical Survey Systems Inc., ION Geophysical Corporation, Phoenix Geophysics Limited, WesternGeco LLC, Petroleum Geo-Services ASA, CSA Global Pty Ltd., United States Geological Survey, UTEC Survey Incorporated, Geotec Engineering & Environmental Inc., Geophysics Limited, Geophex Ltd., EON Geosciences Inc., Sea Geo Surveys Pte Ltd., Ramboll Group A/S, Sercel SA, IRIS Instruments S.A.S., Gesellschaft für Forschung und Prüfung mbH, CGG SA, BGP Inc., Polarcus Limited, Halliburton Company, IG Seismic Services plc, Dolphin Geophysical Pte Ltd., COSL Geophysical (Cayman) Limited, SAExploration Holdings Inc., Spectrum Geophysics Services Ltd., Foundation Technology & Soil Mechanics Inc.
Which market trends are set to define the future of the geophysical data collection market?
Technology collaboration is a key trend in geophysical data acquisition. Technology collaborations are becoming necessary to keep pace with digital transformations. Artificial Intelligence and Machine Learning methods are being deployed and accepted in geophysical services. In February 2022, Shearwater Geoservices Software Inc., is a subsidiary of Shearwater Geoservices Holding AS, a provider of marine geophysical services, entered in a strategic technology collaboration with ConocoPhillips, a petroleum refineries company which is focused on hydrocarbon exploration and production. In this collaboration, ConocoPhillips will become a user of Shearwater’s industry leading Reveal seismic processing and imaging software. Shearwater has committed to supporting the development and application of the CSI technology, as well as providing ConocoPhillips with future seismic acquisition and imaging services. CSI enables geoscientists to reconstruct seismic images more accurately and more efficiently with less data, allowing ConocoPhillips to improve decision quality, reduce costs, and increase efficiency. It will be commercialized for current and future customers.
Which geographic trends are shaping the geophysical data collection market, and which region has the highest market share?
North America was the largest region in the geophysical data collection market in 2023. Western Europe was the second largest region in the geophysical data collection market. The regions covered in the geophysical data collection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Does The Geophysical Data Collection Market Report 2025 Offer?
The geophysical data collection market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Geophysical data collection refers to the process of gathering information about the physical properties of the Earth’s subsurface using various scientific methods. This data is collected through techniques such as seismic surveys, magnetic and gravity measurements, and electromagnetic sensing, which help map the structure, composition, and behavior of geological formations. Geophysical data collection is essential for applications like oil and gas exploration, mineral resource identification, environmental studies, and earthquake research.
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