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Electromagnetic Geophysical Services Market Trends

Report ID: GMI7950
Published Date: Jan 2024
Report Format: PDF

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Electromagnetic Geophysical Services Market Trends

The electromagnetic geophysical services industry is witnessing notable trends shaped by technological advancements and industry demands. Integration of advanced sensors and data analytics is enhancing the precision and efficiency of subsurface mapping, catering to the evolving needs of sectors like oil and gas exploration, mining, and environmental monitoring. The market is also experiencing a shift towards more sustainable practices, with increased focus on environmentally friendly exploration methods. Additionally, the rising adoption of artificial intelligence and machine learning in data interpretation is streamlining and expediting the analysis process.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of electromagnetic geophysical services was reached USD 2.7 billion in 2023 and is expected to register over 6.9% CAGR from 2024 to 2032, owing to the increasing demand for accurate and efficient subsurface mapping in oil & gas, mining, and environmental monitoring sectors.

The magnetotellurics technology segment is expected to register over 7% CAGR from 2024 o 2032, owing to increased demand for natural resources, such as minerals, hydrocarbons, and geothermal energy.

North America electromagnetic geophysical services market is expected to grow at over 6.5% CAGR through 2032, due to the increasing demand for efficient and accurate subsurface mapping for mineral exploration, oil and gas exploration, and environmental monitoring in the region.

Abitibi Geophysics, AKS Geoscience Inc., Applus+, CGG, China Oilfield Services Limited, Dawson Geophysical Company, EGS (International) Ltd, Fugro, Geotech Ltd., Paradigm Group B.V., and PGS are some of the major electromagnetic geophysical services companies worldwide.