Geophysical Services Market (By Type: Aerial-based Survey, Land-based Survey; By Service: Data Interpretation, Data Processing, Data Acquisition; By Technology: Resistivity, Seismic, Ground Penetrating, Magnetic, Hyperspectral, Light Detection and Ranging, Gravity, Electromagnetics, Gradiometry, Other; By End Use: Environment, Agriculture, Water Exploration, Minerals & Mining, Oil & Gas, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027

Acumen Research and Consulting estimates that global Geophysical Services market is expected to reach the market value of around US$ 22 Bn by 2027 and is anticipated to grow at a CAGR of around 5% in terms of revenue during the forecast period 2020 – 2027.

In the systematic compilation of geophysical data for mineral exploration, geophysical services play a significant role. In measuring magnetic and gravity fields in the interior and topography of the Earth, geophysical surveys are important. Rising mining and drilling activities is a major driver in the world's market for geophysical services. The market for geophysics services is projected to rise for precious metals, such as gold, platinum, titanium and silver. In order to satisfy the needs of the growing population, minerals are excavated more quickly around the world.

The report provides analysis of global Geophysical Services market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.                                                                 

Market Dynamics

The global geophysical services industry is projected to expand significantly owing to the increasing activities in mining and petroleum & gas exploration. However, due to the environmental regulations levied by governments of several countries, demand for the geophysical services for mineral extraction is expected to curb the target market. Strong demand for geophysical data acquisition services as well as growing developments in the geophysical mining business is anticipated to provide lucrative growth opportunities throughout the forecast timeframe. Over the next five years, a revival of the price of crude oil will further stimulate a worldwide demand for geophysical services.

Regional Stance

North America held significant market share in 2019 and anticipated to govern the market amid the projected time span. North America is clearly the pioneer in the geophysical business industries due to the use of modern technologies for the exploitation of natural resources. Moreover, owing to the recent shale gas boom in the US, the region is considered the world's largest natural gas producer. With advances in shale gas drilling, the nation has modified the global natural gas outlook. Growing hydrocarbon demand has led to increased investment in exploration and development. Around the same time, due to rising acceptance of renewable and the growing success of electric cars, the manufacturing and industrial industry is being investing tremendously. The mining industry also plays a key role in boosting market economic growth.

Report coverage

The market research study on “Geophysical Services Market (Geophysical Services Market By Type: Aerial-based Survey, Land-based Survey; Geophysical Services Market By Service: Data Interpretation, Data Processing, Data Acquisition; Geophysical Services Market By Technology: Resistivity, Seismic, Ground Penetrating, Magnetic, Hyperspectral, Light Detection and Ranging, Gravity, Electromagnetics, Gradiometry, Other; Geophysical Services Market By End Use: Environment, Agriculture, Water Exploration, Minerals & Mining, Oil & Gas, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Geophysical Services market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Geophysical Services market size, and segment markets by type, service, technology, end use, and geography along with the information on companies operating in the market. The Geophysical Services market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.  

The global Geophysical Ser

vices market is segmented as below:

Market Segmentation

Geophysical Services Market By Type

• Aerial-based Survey
• Land-based Survey

Geophysical Services Market By Service

• Data Interpretation
• Data Processing
• Data Acquisition

Geophysical Services Market By Technology

• Resistivity
• Seismic
• Ground Penetrating
• Magnetic
• Hyperspectral
• Light Detection and Ranging
• Gravity
• Electromagnetics
• Gradiometry
• Other

Geophysical Services Market By End Use

• Environment
• Agriculture
• Water Exploration
• Minerals & Mining
• Oil & Gas
• Others

Geophysical Services Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Mexico
• Brazil
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of MEA

Key Players and Market Situation

The world demand for geophysical exploration and engineering resources is strongly competitive. The industry is dominated by leading firms. Participants include major global players such Geotech Ltd., EON Geosciences Inc., Dawson Geophysical Inc., TGS, Phoenix Geophysics, Compagnie Générale de Géophysique (CGG), Spectrum Geo Inc, TGS-NOPEC Geophysical Company L.P., Others.