Global Integrated Geophysical Services Market Trends And Strategies Of Major Players In The Integrated Geophysical Services Market 2021-2030
12 Oct, 2021
The integrated geophysical services market consists of the sales of integrated geophysical 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.
Global Integrated Geophysical Services Market Size And Drivers:
The global integrated geophysical services market is expected to grow from $1.35 billion in 2020 to $1.46 billion in 2021 at a compound annual growth rate (CAGR) of 8.1%. The growth 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 market is expected to reach $1.51 billion in 2025 at a CAGR of 0.8%. Increasing demand for oil and gas contributed to the growth of the integrated geophysical services market.
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Trends In The Global Integrated Geophysical Services Market
Drones are increasingly being used by integrated geophysical services companies to get precise information and to decrease the burden on people in the harsh environment. Total, the producer and supplier of oil, natural gas, and low-carbon electricity, announced the deployment of the first automated seismic acquisition system in Abu Dhabi in November 2019. Total’s Multiphysics Exploration Technology Integrated System (METIS) uses the autonomous drones and ground drop off vehicles which don’t need human intervention. METIS is an automated technology which conducts seismic surveys in harsh environments like the desert that are tough on human and equipment.
Global Integrated Geophysical Services Market Segments:
The global integrated geophysical services market is further segmented –
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)
By Application: Infrastructure and Building Constructions, Offshore Wind Farm Surveys, Offshore Cable Tracking Surveys, Mineral Exploration and Mining Engineering, Natural Resources and Energy, Water Resources, Environment and Waste Management, Archaeological Surveys
By Survey Type: Aerial-based, Land-based
By Geography: The global integrated geophysical services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Integrated Geophysical Services Market At:https://www.thebusinessresearchcompany.com/report/integrated-geophysical-services-global-market-report
Integrated Geophysical Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides integrated geophysical services market overviews, analyzes and forecasts market size and growth for the global integrated geophysical services market, integrated geophysical services market share, integrated geophysical services market players, integrated geophysical services market segments and geographies, integrated geophysical services market’s leading competitors’ revenues, profiles and market shares. The integrated geophysical services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.