The Business Research Company’s Geophysical Data Collection Global Market Report 2021: COVID 19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, February 15, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Technology collaborations are key among geophysical data acquisition market trends. 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 September 2019, Tomlinson Geophysical Services (TGS), a multi-client provider of geoscience data for oil and gas company announced a technology collaboration with Quantico Energy Solutions (Quantico), an Artificial Intelligence (AI) company which is focused on providing subsurface solutions for exploration and production, (or) oil and gas companies. The collaboration is to leverage their respective offering in seismic data, AI-based wells logs, and AI-based seismic inversion. In this collaboration, TGS will use Analytics Ready LAS (ARLAS) solution. ARLAS uses machine learning algorithms to predict the missing curve. Quantico uses a QRes solution that combines physics-based with machine learning to map the subsurface within a fraction of the time as inversion software. The integration of QRes and ARLAS solution, the clients of TGS will have access to the comprehensive geoscience data and AI solutions.
The global geophysical data collection market size is expected to grow from $4.44 billion in 2020 to $4.79 billion in 2021 at a compound annual growth rate (CAGR) of 7.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The geophysical data market is expected to reach $4.99 billion in 2025 at a CAGR of 1%.
The major players covered in the global geophysical data collection market are Compagnie Generale De Geophysique (CGG), TGS-NOPEC Geophysical, Dawson Geophysical, Geotech, Geophysical Survey Systems, ION Geophysical Corporation, Phoenix Geophysics, Schlumberger – Westerngeco, Petroleum Geo-Services, CSA Global, United States Geological Survey, UTEC, Geotec Engineering & Environmental, Geophysics, Geophex, EON Geosciences, Sea Geo Surveys.
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