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The rise in demand for better understanding of reservoirs in production and design tasks to meet the world’s current and future energy needs are expected to drive innovation in geophysical data collection manufacturing, thus driving the market during the forecast period.

The global geophysical data collection market is expected to grow from $7.3 billion in 2022 to $7.49 billion in 2023 at a compound annual growth rate (CAGR) of 2.5%. The global geophysical data collection market size is expected to grow to $8.01 billion in 2027 at a CAGR of 1.7%.

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Global Geophysical Data Collection Market Segments Include:

• By Service: Data Acquisition, Data Processing, Interpretation
• By Technology: 2D Imaging, 3D Imaging, 4D Imaging
• By End User: Agriculture, Environment, Minerals & Mining, Oil & Gas, Water Exploration
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global geophysical data collection market in 2021.

Major Market Players in the geophysical data collection market include Compagnie Generale De Geophysique (CGG), TGS-NOPEC Geophysical, Dawson Geophysical, Geotech, Geophysical Survey Systems.

Technology collaboration is a key trend in geophysical data acquisition. Technology collaborations are becoming necessary to keep pace with digital transformations. Artificial Intelligence and Machine Learning methods are being deployed and accepted in geophysical services. In February 2022, Shearwater Geoservices Software Inc., is a subsidiary of Shearwater Geoservices Holding AS, a provider of marine geophysical services, entered in a strategic technology collaboration with ConocoPhillips, a petroleum refineries company which is focused on hydrocarbon exploration and production. In this collaboration, ConocoPhillips will become a user of Shearwater’s industry leading Reveal seismic processing and imaging software. Shearwater has committed to supporting the development and application of the CSI technology, as well as providing ConocoPhillips with future seismic acquisition and imaging services. CSI enables geoscientists to reconstruct seismic images more accurately and more efficiently with less data, allowing ConocoPhillips to improve decision quality, reduce costs, and increase efficiency. It will be commercialized for current and future customers.

The Geophysical Data Collection Global Market Report 2023 provides a geophysical data collection market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The geophysical data collection market forecast analyzes geophysical data collection market size, geophysical data collection market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Geophysical data provides information on the surface and subsurface physical properties of the Earth. As a result, geophysical data can assist in identifying hydrocarbons, minerals, aggregate, and other natural resources.

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