The global geophysical data sales market is expected to grow from $2.54 billion in 2021 to $2.65 billion in 2022 at a compound annual growth rate (CAGR) of 4.3%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The geophysical data sales market is expected to reach $2.96 billion in 2026 at a CAGR of 2.8%.
What is the Global Geophysical Data Sales Market?
The geophysical data sales market consists of the sales of geophysical data services and related goods by entities (organizations, sole traders, and partnerships) that locate and measure the extent of subsurface resources, such as oil, gas, and minerals, and also conduct surveys for engineering purposes. The surveying techniques include magnetic surveys, gravity surveys, seismic surveys, or electrical and electromagnetic surveys. Only goods and services traded between entities or sold to end consumers are included.
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What drives the Global Geophysical Data Sales Market?
Increased applications in oil and gas exploration activities in the emerging countries due to the increasing demand from the oil and gas industry, contributed to the growth of the global geophysical data sales market. For instance, according to U.S. Energy Information Administration, in 2020, The world consumed 92.2 million barrels of petroleum and other liquid fuels per day (b/d). Geophysical data sales are used in the oil and gas industry to obtain fast access to seismic data, state-of-the-art data center services, and robust networks and are also used to collect or evaluate core samples or cuttings. Thus, oil and gas exploration activities drove the demand for metals and minerals, which in turn propelled the revenues generated for the geophysical data sales market.
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Global Geophysical Data Sales Market Segments
The global geophysical data sales market is segmented:
By Technology: Seismic, Magnetic, Gravity, Electromagnetics, LIDAR, Ground Penetrating, Others
By Type: Aerial-based Survey, Land-based Survey
By Services: Data Processing, Data Interpretation, Data Acquisition
By End User: Agriculture, Environment, Minerals & Mining, Oil & Gas, Water Exploration
By Geography: The regions covered in the geophysical data sales market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Geophysical Data Sales Global Market Report 2022provides market size and growth forecasts for the global geophysical data sales market, global geophysical data sales market share, geophysical data sales market segments and geographies, geophysical data sales market competitive landscape including leading competitors’ revenues, profiles and market shares. The geophysical data sales market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Geophysical Data Sales Industry Playersinclude Dawson Geophysical Company, EON Geosciences, Geotech Surveys, TGS Geophysical Company, Geophysical Survey Systems, Inc., CGG SA, Fugro NV, Petroleum Geo-Services ASA, Phoenix Geophysics and Sea Geo Surveys Pvt. Ltd. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
