According to the new market research report Seismic Survey Market by Service (Data Acquisition (Land, Marine, and Air-Borne), Data Processing, and Interpretation), Technology (2D imaging, 3D imaging, and 4D imaging), and Region - Global Forecast to 2022, published by MarketsandMarkets™, The seismic survey market is expected to grow from an estimated USD 7.54 Billion in 2017 to a projected USD 9.28 Billion by 2022, at a CAGR of 4.15%, during the forecast period. The use of seismic technology in brownfield projects and increased shale gas exploration will drive the market for seismic surveys worldwide.
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The data acquisition segment is expected to hold the largest market share of the seismic surveys market, by service, in 2017. This is due to the capital expenditure for the services offered in this category. Data acquisition involves geological imaging while data processing and interpretation only include software as a service. Companies are investing in the exploration of new hydrocarbon fields to acquire data. The acquired data is used to explore reserves and is economic and can offer longer production lives of hydrocarbon fields. Companies require the acquired data to be processed and interpreted using new techniques and services. Therefore, these segments are expected to witness increased growth during the forecast period.
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The seismic survey market can be directly linked to the ever growing demand for seismic technology in shale gas exploration and brownfield projects. However, factors such as the slump in oil prices have led to reduced investments by oil & gas companies across regions, which could restrain market growth. A rise in the demand for multi-client surveys and advances in technology present promising growth opportunities for the market.

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Some of the leading players in the seismic survey market include Compagnie Generale de Geophysique (CGG) (France), Petroleum Geo-Services (PGS) (Norway), Fugro N.V. (Netherlands), Polarcus Limited (U.A.E.), and Tomlinson Geophysical Services (TGS)-Norwegian Petroleum Exploration Consultants (NOPEC) Geophysical Company (Norway), among others. Contracts and agreements was the most common strategy adopted by the top players in the market, constituting approximately 50% of the total development share. This was followed by new product launches, mergers & acquisitions, and expansions, respectively.
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