PUBLISHER: The Business Research Company | PRODUCT CODE: 1713284
PUBLISHER: The Business Research Company | PRODUCT CODE: 1713284
Geophysical data collection involves gathering information about the physical properties of the Earth's subsurface using a range of scientific techniques. These methods include seismic surveys, magnetic and gravity measurements, and electromagnetic sensing, which help to map the structure, composition, and behavior of geological formations. Geophysical data collection is critical for applications such as oil and gas exploration, mineral resource identification, environmental assessments, and earthquake research.
The primary service categories for geophysical data collection encompass data acquisition, data processing, and interpretation. Data acquisition involves the collection of signals that measure real-world physical conditions and converting these measurements into digital numeric values that can be processed by a computer. Various technologies are employed, including 2D imaging, 3D imaging, and 4D imaging, and these services find applications in multiple industries, such as agriculture, environmental studies, minerals and mining, oil and gas exploration, and water resource assessment.
The geophysical data collection market research report is one of a series of new reports from The Business Research Company that provides geophysical data collection market statistics, including geophysical data collection industry global market size, regional shares, competitors with a geophysical data collection market share, detailed geophysical data collection market segments, market trends and opportunities, and any further data you may need to thrive in the geophysical data collection industry. This geophysical data collection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The geophysical data collection market size has grown marginally in recent years. It will grow from $6.8 billion in 2024 to $6.91 billion in 2025 at a compound annual growth rate (CAGR) of 1.7%. The growth in the historic period can be attributed to resource exploration demands, energy sector requirements, infrastructure development needs, scientific research expansion, government investments.
The geophysical data collection market size is expected to see marginal growth in the next few years. It will grow to $7.48 billion in 2029 at a compound annual growth rate (CAGR) of 2.0%. The growth in the forecast period can be attributed to renewable energy expansion, data analytics and ai integration, remote sensing technologies, resilience and disaster management, smart agriculture and soil studies. Major trends in the forecast period include unmanned aerial vehicles (uavs) in data collection, integrated multi-sensor systems, climate-resilient infrastructure studies, geophysical data visualization technologies, big data and cloud computing integration.
The expansion of the geophysical data collection market is fundamentally tied to the increasing global demand for better reservoir comprehension in energy production and design tasks. As the world's energy needs grow, largely driven by factors such as population increase, elevated living standards, and ongoing economic development, there's a pressing requirement for a deeper understanding of reservoirs. Fossil fuels, including oil, coal, and gas, are anticipated to cater to over 50% of the primary energy demand, as stated by the United Nations projecting a rise from 9.8 billion in 2050 to 11.2 billion in 2100. ET EnergyWorld also forecasts a doubling of petrochemical demand from approximately 20 million to 22 million barrels per day over the next 20 to 30 years. This surge in population combined with escalating resource demand is anticipated to positively influence the growth of the geophysical data collection market.
The burgeoning needs of the oil and gas industry are anticipated to be a pivotal driver propelling the expansion of the geophysical data collection market. This sector of the global economy, encompassing the exploration, extraction, refining, and distribution of hydrocarbon-based energy resources, relies heavily on geophysical data collection. This process is vital for subsurface mapping, identifying hydrocarbon reserves, and mitigating exploration risks. It significantly facilitates well-informed decision-making and cost-effective resource extraction. As reported by the U.S. Energy Information Administration in October 2023, the global liquid fuel production, including crude oil and other liquids, is expected to witness an increase by 1.3 million b/d in 2023 and a subsequent rise of 0.9 million b/d in 2024. Therefore, the mounting demand within the oil and gas industry continues to drive the growth of the geophysical data collection market.
Technology collaborations have emerged as a prominent trend in geophysical data acquisition, driven by the imperative to keep up with digital transformations. Artificial Intelligence and Machine Learning methodologies are gaining traction in the geophysical services sector. In February 2022, Shearwater Geoservices Software Inc., a subsidiary of Shearwater Geoservices Holding AS, a provider of marine geophysical services, forged a strategic technology collaboration with ConocoPhillips, a petroleum refining company with a focus on hydrocarbon exploration and production. Under this partnership, ConocoPhillips will adopt Shearwater's cutting-edge Reveal seismic processing and imaging software. Shearwater has committed to facilitating the development and application of CSI technology and offering ConocoPhillips future seismic acquisition and imaging services. CSI technology enhances the accuracy and efficiency of seismic image reconstruction, enabling ConocoPhillips to elevate decision quality, lower costs, and enhance operational efficiency. This technology will be made available to both existing and prospective clients.
Major players operating in the geophysical data collection market are directing their efforts towards establishing advanced processing and imaging centers to advance the field of geophysics. A processing and imaging center, in this context, denotes a specialized facility equipped with advanced technology and software designed for processing, analyzing, and generating visual representations from raw data, particularly in the domain of geophysics. For instance, in May 2023, Shearwater GeoServices, a Norway-based company specializing in modern fleet and software solutions, inaugurated its Kuala Lumpur processing and imaging center. This center boasts state-of-the-art technology, including Shearwater Reveal and the company's advanced seismic data processing software and resources, aimed at providing unparalleled support to the oil and gas industry in the exploration and production of hydrocarbon resources.
In September 2022, Sercel, a France-based company specializing in geophysical equipment and services for the oil and gas industry, acquired ION Trading India Pvt. Ltd. for an undisclosed amount. This acquisition aims to strengthen Sercel's position as a leader in geophysical equipment and technology, particularly within the oil and gas sector. ION Trading India Pvt. Ltd., an India-based company, manufactures hardware for trading systems.
Major companies operating in the geophysical data collection market include Compagnie Generale de Geophysique SA, TGS-NOPEC Geophysical Company ASA, Dawson Geophysical Company, Geotech Ltd., Geophysical Survey Systems Inc., ION Geophysical Corporation, Phoenix Geophysics Limited, WesternGeco LLC, Petroleum Geo-Services ASA, CSA Global Pty Ltd., United States Geological Survey, UTEC Survey Incorporated, Geotec Engineering & Environmental Inc., Geophysics Limited, Geophex Ltd., EON Geosciences Inc., Sea Geo Surveys Pte Ltd., Ramboll Group A/S, Sercel SA, IRIS Instruments S.A.S., Gesellschaft fur Forschung und Prufung mbH, CGG SA, BGP Inc., Polarcus Limited, Halliburton Company, IG Seismic Services plc, Dolphin Geophysical Pte Ltd., COSL Geophysical (Cayman) Limited, SAExploration Holdings Inc., Spectrum Geophysics Services Ltd., Foundation Technology & Soil Mechanics Inc.
North America was the largest region in the geophysical data collection market in 2024. Western Europe was the second largest region in the geophysical data collection market. The regions covered in the geophysical data collection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the geophysical data collection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The geophysical data collection market consists of revenue earned by entities by providing services such as locating and measuring 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. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Geophysical Data Collection Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on geophysical data collection market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for geophysical data collection ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The geophysical data collection market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.