Global Integrated Geophysical Services Market Growth Drivers 2024, Forecast To 2033
12 Jan, 2024
The integrated geophysical services market has experienced strong growth, increasing from $2.26 billion in 2023 to $2.38 billion in 2024, with a 5.2% CAGR. Historical growth drivers include resource exploration needs, energy sector requirements, infrastructure development, government investments, and risk mitigation & disaster planning. The forecast indicates steady growth, reaching $2.89 billion in 2028, with a 5.0% CAGR. Ongoing factors include data analytics advancements, renewable energy expansion, remote sensing technologies, resilience planning & disaster management, and space exploration & planetary geophysics. Emerging trends include advanced sensor integration, increased use of unmanned aerial vehicles, climate-resilient infrastructure studies, data visualization technology advancements, and the adoption of big data and cloud computing.
Global Integrated Geophysical Services Market Key Driver
The integrated geophysical services market experiences growth driven by increased demand for oil and gas. In the US, crude oil output rose from 11.7 million barrels per day (b/d) in 2022 to 12.4 million b/d in 2023. Simultaneously, natural gas consumption reached 86.6 billion cubic feet (Bcf/d) in 2022, marking the highest annual consumption. The demand for oil and gas exploration methods boosts the integrated geophysical services market.
Get A Free Sample Of The Global Integrated Geophysical Services Market ReportGlobal Integrated Geophysical Services Market Segments
The integrated geophysical services market covered in this report is segmented –
1)By Method: Vertical Electrical Sounding, Electrical Resistivity Tomography (ERT), Seismic refraction, Microgravity survey with differential GPS, Magnetic profiles, Induced polarization, 2D seismic prospection (refraction tomography and reflection sections), Ground penetrating radar (GPR)
2)By Application: Infrastructure and building constructions, Offshore wind farm surveys, Offshore cable tracking surveys, Mineral exploration and mining engineering, Natural resources and energy, Water resource, environment and waste management, Archaeological surveys
3)By Survey Type: Aerial-based, Land-based
By Geography: The regions covered in the integrated geophysical services market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
North America was the largest region in the integrated geophysical services market in 2023. Western Europe was the second largest region in the integrated geophysical services market. The regions covered in the integrated geophysical services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Integrated Geophysical Services Industry Players
CGS, Halliburton Company, Polarcus Limited, Geokinetics Inc., Petroleum Geo-Services ASA, WesternGeco LLC (a subsidiary of Schlumberger Limited), TGS Geophysical Company (UK) Limited, La Compagnie Générale de Géophysique SA, Ion Geophysical Corporation, Dawson Geophysical Company, EON Geosciences Inc., Geophysical Survey Systems Inc., Phoenix Geophysics Limited, Sea Geo Surveys Pvt Ltd., Spectrum Geophysics Ltd., Geotech Survey Consultancy, BGP Inc., Foundation Technology & Soil Mechanics Inc., SAExploration Holdings Inc., SeaBird Exploration PLC, Education Malaysia Global Services, OYO Geospace Corporation, COSL-China Oilfield Services Ltd., New Resolution Geophysics LLC, Shearwater GeoServices AS, Sercel SA, Ramboll Group A/S, IRIS Instruments S.A.S., DMT GmbH & Co KG
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Integrated Geophysical Services Market Overview
Geophysical integration refers to techniques used in geophysical imaging and inversion to account for multiple sources of information and to enable the concurrent or cooperative use of numerous geophysical datasets to constrain the geophysical problem better and reduce uncertainty.
Integrated Geophysical Services Global Market Report 2023 provides data on the global integrated geophysical services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The integrated geophysical services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.