Geophysical Services Market is Forecasted to Reach a Value of US $16.17 Billion by 2029
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The Business Research Company's Geophysical Services Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, November 25, 2025 /EINPresswire.com/ -- What Is The Expected Cagr For The Geophysical Services Market Through 2025?
The market size of geophysical services has witnessed a consistent growth over the past few years. It is set to expand from $13.91 billion in 2024 to $14.24 billion in 2025, growing at a compound annual growth rate (CAGR) of 2.4%. The historical period growth is associated with the growth in oil and gas exploration, expansion of the mining sector, infrastructure development, environmental studies, remediation, advancements in seismic exploration, and the progression of geothermal energy.
In the forthcoming years, the geophysical services market size is predicted to maintain stable growth, reaching a value of $16.17 billion in 2029 with a compound annual growth rate (CAGR) of 3.2%. The growth during this forecast period can be credited to factors such as the increase in renewable energy expansion, the demand for mining exploration, environmental impact studies, hydrocarbon exploration, as well as geothermal and alternative energy sources. Significant trends during the forecast period include studies on climate change, mapping of urban infrastructure, a multi-disciplinary approach, utilization of remote sensing and satellite technology, and the integration of big data analytics.
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What Are The Driving Factors Impacting The Geophysical Services Market?
The expansion of exploration activities is bolstering the development of the geophysical services market. The primary objective of mineral exploration is to discover mineral and rock deposits that can cater to society's resource needs, a task that geophysical services can potentially accomplish. As per the data put forth by the Australia Bureau of Statics in 2022, the mineral exploration expenditure pertaining to known deposits in Australia amassed to $3,054.9 million during the 2022 calendar year, marking a 21% hike from the previous year. As such, the escalating production and exploration across varying sectors utilizing geophysical devices are charting the path for the geophysical services market's growth.
Which Players Dominate The Geophysical Services Industry Landscape?
Major players in the Geophysical Services include:
• BGP Inc.
• Schlumberger Limited
• Halliburton Company
• Geotech Surveys International Limited
• Sea Geo Surveys Pvt. Ltd.
• COSL China Oilfield Services Limited
• Ramboll Group A/S
• CGG SA
• Polarcus Limited
• Paradigm
What Are The Future Trends Of The Geophysical Services Market?
Providers of geophysical services are employing drones to carry out aerial surveys. These aerial/airborne geophysical surveys are utilized to estimate the range of significant physical or geochemical barriers on earth through air. Drones used for these operations are fitted with a magnetometer and additional sensors like electromagnetic, gamma-ray, spectrometry, magnetic, and gravity for a more precise and constructive survey outcome. In 2023, GEM Systems and Mobile Geophysical Technologies (MGT) introduced several fixed-wing Unmanned Aerial Vehicles (UAVs) to cater to the increased demand for better measurement precision in magnetic surveys.
Global Geophysical Services Market Segmentation By Type, Application, And Region
The geophysical services market covered in this report is segmented –
1) By Survey Type: Land, Marine, Aerial
2) By Technology: Seismic, Magnetic, Gravity, Electromagnetic, Lidar, Ground Penetrating, Other Technologies
3) By Application: Road, Rail, Port, Airport, Pipeline, Other Applications
4) By End User: Agriculture, Environment, Minerals And Mining, Oil And Gas, Water Exploration, Other End Users
Subsegments:
1) By Land: Seismic Surveys, Ground Penetrating Radar (GPR) Surveys, Magnetic Surveys, Electrical Resistivity Surveys
2) By Marine: Seismic Surveys (2D And 3D), Sub-bottom Profiling, Magnetometer Surveys, Bathymetric Surveys
3) By Aerial: LiDAR Surveys, Aerial Photography And Photogrammetry, Hyperspectral Imaging, Remote Sensing
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Which Region Holds The Largest Market Share In The Geophysical Services Market?
In 2024, North America dominated the geophysical services market as the largest region, followed by Western Europe. The geophysical services market report covered regions including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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