Press release
Integrated Geophysical Services Market Expansion Continues, with Forecast Valuation of $3 Billion by 2029
Integrated Geophysical Services
What Will the Integrated Geophysical Services Industry Market Size Be by 2025?
The market size for integrated geophysical services has been consistently increasing over the past few years. It is projected to increase from $2.34 billion in 2024 to $2.45 billion in 2025 with a compound annual growth rate (CAGR) of 4.4%. The advancement during the historic period can be credited to the digital revolution, consumer electronics, growth in telecommunications, automotive electronics, and industrial automation.
What's the Long-Term Growth Forecast for the Integrated Geophysical Services Market Size Through 2029?
In the coming years, the integrated geophysical services market is anticipated to experience robust growth, expanding to $3 billion in 2029 with a compound annual growth rate (CAGR) of 5.2%. This growth projection for the forecast period is due to the influence of factors such as artificial intelligence and machine learning, the expansion of 5G and IoT, the rise of autonomous vehicles, advancements in quantum computing, and the healthcare and medical devices sector. The forecast period is also expecting trends such as miniaturization and advanced packaging, heterogeneous integration, energy-efficient ICs, security and encryption, and custom IC design to be significant.
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What Are the Key Growth Drivers Fueling the Integrated Geophysical Services Market Expansion?
The uptick in oil and gas needs has been a determining factor fueling the expansion of the integrated geophysical services market. For instance, the US Energy Information Administration, a government agency based in the US, reported that the crude oil output in March 2023 was 12.4 million Barrels per day (b/d), a climb from the 11.7 million Barrels per day (b/d) recorded in 2022. Furthermore, in September 2022, the daily consumption of natural gas on average in the United States reached its peak at 86.6 billion cubic feet (Bcf/d) in 2022, marking the highest annual gas consumption compared to the preceding year. Consequently, the amplified usage of oil and gas is escalating the demand for the integrated geophysical services market. This linkage is due to the integration of various exploration techniques for oil and gas, which includes archaeological surveys, and remote sensing from satellites and aerial platforms that gather the necessary geological data and analyze core samples or cuttings. Detailed analysis of the subsurface is crucial for precise reservoir and flow modeling, enabling well-judged production decisions and the capacity to generate more energy. Hence, the ever-rising demand for oil and gas is propelling the growth of the integrated geophysical services market.
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Which Emerging Trends Are Transforming the Integrated Geophysical Services Market in 2025?
Integrated geophysical service companies are leveraging the use of drones increasingly for acquiring accurate information, reducing human strain in severe environments. Aerospace CH UAV Co., through their 2022 statement, disclosed that China will deploy the Caihong, or Rainbow drone, to undertake geological resource investigations on the Qinghai-Xizang Plateau and in the polar regions. They further noted that Aero geophysical exploration, merging geophysical exploration and aviation, enables speedy and effective gathering of diverse geophysical field data. According to the firm, drones are advantageous tools for surveys as they operate quickly and effectively, undeterred by terrains and human constraints.
How Is the Integrated Geophysical Services Market Segmented?
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
Subsegments:
1) By Vertical Electrical Sounding (VES): Schlumberger Configuration, Wenner Configuration, Dipole-dipole Configuration
2) By Electrical Resistivity Tomography (ERT): 2D Imaging, 3D Imaging, Time-lapse Monitoring
3) By Seismic Refraction: Compressional Wave (P-Wave) Studies, Shear Wave (S-Wave) Studies, Multi-Channel Analysis Of Surface Waves (MASW)
4) By Microgravity Survey With Differential GPS: Regional Gravity Surveys, Microgravity Anomaly Detection, High-resolution Elevation Corrections
5) By Magnetic Profiles: Total Magnetic Intensity Profiling, Vertical Magnetic Gradient Surveys, High-sensitivity Magnetic Anomaly Detection
6) By Induced Polarization (IP): Time-domain IP, Frequency-domain IP, Spectral IP
7) By 2D Seismic Prospection (Refraction Tomography And Reflection Sections): Refraction Tomography Surveys, Reflection Seismic Sections
8) By Ground Penetrating Radar (GPR): Low-frequency Surveys For Deep Penetration, High-frequency Surveys For Shallow Imaging, 3D GPR Surveys
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Which Companies Are Leading the Charge in Integrated Geophysical Services Market Innovation?
Major companies operating in the integrated geophysical services market include 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
Which Regions Are Leading the Global Integrated Geophysical Services Market in Revenue?
North America was the largest region in the integrated geophysical services market in 2024. 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
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