Micro Seismic Monitoring Technology Market - Trends, Forecast, Demand, Outlook by 2019

Micro seismic technology provides crucial information of reservoir and helps in enhancing production. It can provide reservoir information that is not readily obtainable from any other source. Micro seismic monitoring is used to optimize production, reduce risks, increase safety and decrease costs in variety of industrial applications. This technique is increasingly used by the oil and gas industry to monitor steam injection into heavy-oil field and hydraulic stimulation of very low permeability. The pre-existing flaws and slip when activated by hydraulic fracturing, creates micro seismic event that, when measured, help to identify key fracture properties which includes height, azimuth, length, affected volume of reservoir, and complexity of the induced fractures.

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The overall market has been segmented on the basis of applications (hydraulic fracturing, life-of-field reservoir monitoring, underground mining, open-pit mining and waste injection or underground gas storage), end users, as well as on a geographical basis to provide a holistic picture of the market. The driving factors for the use of micro seismic monitoring include the growing use of mining or oil and gas production that change the stress distribution or the volume of a rock-mass. However, incomplete understanding of seismological and geo-mechanical process associated with micro seismicity is expected to hamper the growth of the market.

Presently North America accounts for the highest demand for micro seismic monitoring technology. North America is expected to drive the growth of the market on account of increasing oil and gas production. The increasing application of micro seismic technologies in hydro fracturing and oil and gas production is expected to boost the demand for the technology. In addition, broader implementation of micro seismic monitoring for reservoir production is expected to open new opportunities for growth in the market.

Some of the key players in this market are Bakerhuges, Halliburton, Hess Corporation, ESG Solutions, Schlumberger, and Sigma Cubed among others.

This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
North America
Asia Pacific
Europe
Rest of the World

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This report provides comprehensive analysis of
Market growth drivers
Factors limiting market growth
Current market trends
Market structure
Market projections for upcoming years

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