Overview and Scope
Geophysical data provides information on the surface and subsurface physical properties of the Earth. As a result, geophysical data can assist in identifying hydrocarbons, minerals, aggregate, and other natural resources.
Sizing and Forecast
The geophysical data collection market size has grown marginally in recent years. It will grow from $7.43 billion in 2023 to $7.57 billion in 2024 at a compound annual growth rate (CAGR) of 1.9%. 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 steady growth in the next few years. It will grow to $8.2 billion in 2028 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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Segmentation & Regional Insights
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
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
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The geophysical data collection market report table of contents includes:
1. Executive Summary
2. Geophysical Data Collection Market Characteristics
3. Geophysical Data Collection Market Trends And Strategies
4. Geophysical Data Collection Market – Macro Economic Scenario
5. Global Geophysical Data Collection Market Size and Growth
……
31. Global Geophysical Data Collection Market Competitive Benchmarking
32. Global Geophysical Data Collection Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Geophysical Data Collection Market
34. Geophysical Data Collection Market Future Outlook and Potential Analysis
35. Appendix
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