Press release
Geophysical Data Sales Market 2024-2033: Size, Share & Outlook Analysis
The geophysical data sales market size is expected to see steady growth in the next few years. It will grow to $3.32 billion in 2028 at a compound annual growth rate (CAGR) of 2.8%. The growth in the forecast period can be attributed to advanced data analytics, renewable energy expansion, remote sensing technologies, data monetization strategies, resilience planning & disaster management. Major trends in the forecast period include big data & cloud computing integration, geophysical data visualization technologies, climate-resilient infrastructure studies, integrated multi-sensor systems, uavs (unmanned aerial vehicles) in data sales.
Market Overview -
Geophysical data sales are used to obtain quick access to seismic data, cutting-edge data center services, and robust networks, and to collect or evaluate core samples or cuttings. Geophysical data can help locate hydrocarbons, minerals, aggregate, and other natural resources.
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Expanding Global Geophysical Data Sales Market Fueled By Oil And Gas Exploration Demand
Increased applications in oil and gas exploration activities in emerging countries due to the increasing demand from the oil and gas industry have contributed to the growth of the global geophysical data sales market. For instance, according to the U.S. Energy Information Administration, the global liquid fuels consumption is forecasted to rise by 1.4 million b/d in 2023 and by 1.8 million b/d in 2024 . Thus, oil and gas exploration activities drove the demand for metals and minerals, which in turn propelled the revenues generated for the growth of the geophysical data sales market.
Competitive Landscape -
Major companies operating in the geophysical data sales market include Dawson Geophysical Company, EON Geosciences Inc., Geotech Surveys Inc., TGS-NOPEC Geophysical Company ASA, Geophysical Survey Systems Inc., CGG SA, Fugro NV, Petroleum Geo-Services ASA, Phoenix Geophysics Limited, CSA Global Pty Ltd., Ramboll Group A/S, DMT GmbH & Co. KG, Schlumberger Limited, BGP Inc., Spectrum Geo Inc., Sea Geo Surveys Pte Ltd., ION Geophysical Corporation, Geoex Ltd., Polarcus Limited, Compagnie Générale de Géophysique SA, Halliburton Company, IG Seismic Services plc, Dolphin Geophysical Pte Ltd., COSL Geophysical (Cayman) Limited, SAExploration Holdings Inc., Royal Dutch Shell plc, Chevron Corporation, Phillips Petroleum Company, Geometrics Inc., Geonics Pvt Ltd.
Seismic Technology Revolutionizes The Geophysical Data Sales Market
The launch of seismic technology has created immense demand in the geophysical data sales market. Seismic technology is used by oil and gas researchers to map and interpret potential hydrocarbon reserves. But by adding the time dimension, 4D seismic technology shows how a reservoir will change over time. In April 2021, QuakeLogic and SignaGuard, launched seismic sensor-enabled with Edge AI, a structural health monitoring technology for earthquake-prone region. With its advanced IoT features, it is capable of automatically shutting down electrical lines based on seismic levels, triggering automated SMS/email alerts of damage, and uses an open-source technical platform to integrate algorithms from third parties.
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Key Segments -
The geophysical data sales market covered in this report is segmented -
1) By Technology: Seismic, Magnetic, Gravity, Electromagnetics, LIDAR, Ground Penetrating, Other Technologies
2) By Type: Aerial-based Survey, Land-based Survey
3) By Services: Data Processing, Data Interpretation, Data Acquisition
4) By End User: Agriculture, Environment, Minerals & Mining, Oil & Gas, Water Exploration
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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