Pune, India -- (SBWire) -- 01/20/2020 --A recent report published by Infinium Global Research on the Seismic Survey Market (Service - Data Acquisition, and Data Processing & Interpretation; Technology - 2D, 3D, and 4D): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025. The report provides in-depth information about the seismic survey market which is expected to grow at a CAGR of 4.1 % over the forecast period of 2019-2025.
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Seismic Survey Market: Drivers, Restraints, and Opportunities
The growing number of exploration and production activities drives the growth of the seismic survey market. The rising demand for oil in developing countries contributes to the growth of the seismic survey market. The increasing use of seismic technology in brownfield projects and rising shale gas exploration stimulate the growth of the seismic survey market.
The rising efforts by oil and gas majors to tap undiscovered reserves boost the growth of the seismic survey market. The rise in approval for seismic testing propels the growth of the seismic survey market. Furthermore, the surge in spending on exploration activities promotes the growth of the seismic survey market. On the other hand, volatile oil prices hamper the growth of the seismic survey market. Moreover, new oil and gas discoveries create novel opportunities for the growth of the seismic survey market.
Seismic Survey Market: Segmentation
The global seismic survey market is segmented on the basis of service and technology. Based on service, the seismic survey market is divided into data acquisition and data processing & interpretation. The technology segment includes 2D, 3D, and 4D. The 3D technology segment is expected to dominate the technology segment of the seismic survey market as it is easy to understand and interpret.
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Seismic Survey Market: Regional Insights
Geographically, the global seismic survey market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. North America is expected to hold a premium share in the global seismic survey market. The increasing exploration and production activities in North America contribute to the growth of the seismic survey market in North America. Europe is anticipated to grow in the global seismic survey market with a healthy CAGR over the forecast period. Asia-Pacific region is growing in the global seismic survey market.
Seismic Survey Market: Competitive Landscape
The leading players in the global seismic survey market are Pulse Seismic, Inc., SeaBird Exploration, PLC, Polarcus Limited, Schlumberger Limited, Mitcham Industries, Inc., Geospace Technologies Corporation, Wireless Seismic, Inc., ION Geophysical Corporation, Fugro N.V., Compagnie Generale de Geophysique (CGG), and other companies. Companies operating in the global seismic survey market are adopting strategies such as mergers, acquisitions, and new product launches that helps to gain a competitive edge and enhance brand positioning.
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About Infinium Global Research
The Infinium Global research comprises of a team of well-experienced analysts who have qualified in generating incisive reports. The seismic survey market report offers trends, opportunities, challenges, market size, and forecast for major geographical regions and key countries. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the seismic survey market.
