Overview and Scope
Geophysical integration refers to techniques used in geophysical imaging and inversion to account for multiple sources of information and to enable the concurrent or cooperative use of numerous geophysical datasets to constrain the geophysical problem better and reduce uncertainty.
Sizing and Forecast
The integrated geophysical services market size has grown strongly in recent years. It will grow from <b>$2.26 billion in 2023 to $2.38 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. </b> The growth in the historic period can be attributed to resource exploration needs, energy sector requirements, infrastructure development, government investments, risk mitigation & disaster planning.
The integrated geophysical services market size is expected to see steady growth in the next few years. It will grow to <b>$2.89 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. </b> The growth in the forecast period can be attributed to data analytics advancements, renewable energy expansion,remote sensing technologies, resilience planning & disaster management, space exploration & planetary geophysics. Major trends in the forecast period include advanced sensor integration , increased use of unmanned aerial vehicles, climate-resilient infrastructure studies, data visualization technology advancements, adoption of big data and cloud computing.
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Segmentation & Regional Insights
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
<b>North America</b> was the largest region in the integrated geophysical services market in 2023. <b>Western Europe</b> 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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Major Driver Impacting Market Growth
Increasing demand for oil and gas has contributed to the growth of the integrated geophysical services market. For instance, in March 2023, according to the US Energy Information Administration, a US-based government agency, there was crude oil output with 12.4 million Barrels per day (b/d) in 2023 from 11.7 million Barrels per day (b/d) in 2022 in US. Additionally, in September 2022, the average daily consumption of natural gas in the US was 86.6 billion cubic feet (Bcf/d) in 2022, which was the highest annual consumption of natural gas compared to the previous year..The increasing consumption of oil and gas is driving the demand for integrated geophysical services market. This is because integration between different oil and gas exploration methods such as archaeological surveys and remote sensing from aerial platforms and satellites obtains required geological information and evaluates core samples or cuttings. The sub-surface analysis is important for accurate reservoir and flow modelling, leading to more informed production decisions and the ability to produce more energy. The increasing demand for oil and gas is therefore driving the growth in integrated geophysical services market.
Key Industry Players
Major companies operating in the integrated geophysical services market include <b>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</b>
The integrated geophysical services market report table of contents includes:
1. Executive Summary
2. Integrated Geophysical Services Market Characteristics
3. Integrated Geophysical Services Market Trends And Strategies
4. Integrated Geophysical Services Market – Macro Economic Scenario
5. Global Integrated Geophysical Services Market Size and Growth
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26. South America Integrated Geophysical Services Market
27. Brazil Integrated Geophysical Services Market
28. Middle East Integrated Geophysical Services Market
29. Africa Integrated Geophysical Services Market
30. Integrated Geophysical Services Market Competitive Landscape And Company Profiles
Top Major Players:
- CGS
- Halliburton Company
- Polarcus Limited
- Geokinetics Inc
- Petroleum Geo-Services ASA
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