Geosteering Technology Market Recent Trends, In-depth Analysis, Market Size Research Report Forecast up to 2027

Geosteering, often referred to as directional control of the next generation, uses the combination of electronic logs in real-time, the analysis of drilling cuttings data, and other details from various tools to identify thorough insights into the rock layer being drilled. There are different geosteering software and services available on the market used in conjunction with other tools to retrieve the exact spot information being drilled. These include LWD tools, MWD tools, RSS and other drive systems, and more.

The geosteering technology market report aims to provide an overview of the geosteering technology market with detailed market segmentation by product, application, and geography. The global geosteering technology market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading geosteering technology market players and offers key trends and opportunities in the market.

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The List of Companies:
1. Cougar Drilling Solutions
2. Emerson Paradigm Holding LLC
3. Exlog
4. Geonaft
5. Geotech Logging Services LLC
6. Halliburton
7. HMG Software
8. ROGII
9. Schlumberger Limited
10. Terracosm Software, LLC

The global geosteering technology market is segmented on the basis of product and application. Based on product, the geosteering technology market is segented into Logging While Drilling (LWD), Measurement-While-Drilling (MWD), Rotary Steerable Systems (RSS), Drive Systems, and Others. On the basis of application, the market is segmented into: Petroleum Development, Natural Gas Transportation, and Others.

Theincreasing global population is driving demand for oil and gas in the global geosteering technology market, and that demand exceeds worldwide oil and gas production. For example, according to the Organization of the Petroleum Exporting Countries (OPEC), world oil demand in 2017 amounted to 97.32 million barrels a day, while global supply was 96.10 million barrels a day. As a result, many firms invest in oil field exploration to increase their market share and gain a competitive advantage in the market by meeting the growing demand of consumers. For instance, ExxonMobil announced the discovery of an oilfield in Guyana, South America, in August 2018.

The report analyzes factors affecting the geosteering technology market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namly; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the geosteering technology market in these regions.

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This release was published on openPR.