Seismic Market Set to Grow USD 2 Billion by 2026
According to the report, The global Seismic Survey market in 2019 was approximately USD 1.5 billion. The market is expected to grow at a CAGR of 4% and is anticipated to reach around USD 2 billion by 2026.
Increasing demand for oil and gas is likely to encourage the market players to explore new fields. Oil and gas explorers use seismic surveys to yield comprehensive pictures of the numerous rock categories and their position under the Earth’s surface and they use this information to determine the location and size of oil and gas reservoirs.
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The Seismic Survey market research report delivers an acute valuation and taxonomy of the Seismic Survey industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the Seismic Survey industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the Seismic Survey industry is provided for the leading economies of the world.
The Seismic Survey market is segmented based on service, technology, and application. On the basis of Service segmentation, the market is classified into data acquisition, data processing, and data interpretation. Based on technology segmentation market is categorized into 2D Imaging, 3D Imaging, and 4D Imaging. In terms of Application segmentation, the market is bifurcated into geological, geophysical, geotechnical, and others.
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Leading key market players operating in the Seismic Survey market, but not restricted to include Polarcus Limited, Fugro N.V., Compagnie Generale de Geophysique (CGG), Schlumberger Limited-Western Geco, Fugro N.V., Petroleum GeoServices, (TGS)-Norwegian Petroleum Exploration Consultants, Seabird Exploration PLC, Tomlinson Geophysical Services, Inc., and Ion Geophysical Corporation.
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