Microseismic Monitoring Technology Market Report

Microseismic monitoring technology is a very valuable tool used to identify small seismic events. Involving the use of three-axis accelerometers, it is employed as a passive technique to understand what hydraulic fractures do in real-time. Microseismic science concentrates on micro-earthquakes and is grown out of the concept of earthquake seismology. Companies operating in the global microseismic monitoring technology market are expected to largely focus on safety as a priority for employees and clients. In April 2019, MicroSeismic, a US oilfield services company providing real-time monitoring of hydraulic fracture operations, announced that it achieved a 0.0 total recordable incident rate and 2 million man hours without a lost time incident for 2017 and 2018.

The research study on the global microseismic monitoring technology market includes deep analysis of the competitive landscape and shows how different players are competing on the basis of product portfolio, recent developments, and areas served. It also provides the CAGR, revenue and production growth, and other key estimations of the global market.

Drivers and Restraints

High use of microseismic monitoring technology in geotechnical and environmental engineering is foretold to push the growth of the global market. Microseismic monitoring technology helps to determine and assess the real-time location of underground rock fractures. It also finds application in rock burst monitoring during the exploitation of mineral resources and precursor monitoring of earthquakes and volcanoes. The oil and gas industry is prognosticated to create lucrative opportunities in the global microseismic monitoring technology market.

However, the unpredictable nature of oil prices is anticipated to delay the growth of the global microseismic monitoring technology market. Nevertheless, the growing adoption of microseismic monitoring technology in reservoir monitoring and hydraulic fracture mapping is predicted to support the global market during the forecast period.

Key Segments

By Process

●   Data Acquisition

●   Data Processing

●   Data Interpretation

By Component

●   Hardware

●   Software

●   Services

By End Use

●   Mining

●   Oil and Gas

●   Others

Among different process segments, data processing is projected to take a remarkable share of the global microseismic monitoring technology market on the back of a broad array of applications and factors such as cost efficiency. The software segment is predicted to show significant growth in the global market due to the advantages of easy integration with new hardware and multiple usage capability. Among end use segments, mining is anticipated to take a considerable share of the global market.

By Region

According to researchers, North America is foreseen to continue to show dominance in the global microseismic monitoring technology market because of the presence of prominent companies, especially in the US.

Leading Companies

The report offers a comprehensive study on key players of the global microseismic monitoring technology market such as Microseismic, Inc., Geospace Technologies Corporation, ESG Solutions, Halliburton Company, ION Geophysical Corporation, Fairfield Geotechnologies, Landtech Geophysics Ltd., Schlumberger Limited, Guralp Systems Limited, and Weir-Jones Group.

Research Methodology

The report on the global microseismic monitoring technology market is compiled with strong emphasis on market dynamics, competition, regional expansion, and segmentation. The analysts used latest primary and secondary research techniques and advanced tools to prepare the outlook, estimate the overall size, and determine high-growth pockets of the global market. They also used data triangulation to identify leading segments and sub-segments of the global market and estimate their market size for the next few years.

Furthermore, the report offers SWOT and Porter’s Five Forces analyses to present a complete study of the global microseismic monitoring technology market and its crucial aspects. In addition, it provides absolute dollar opportunity analysis and qualitative and quantitative analyses for players to improve their business tactics.

Reasons to Buy this Report

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●    For authentic forecasts pertaining to capacity, production, value, consumption, growth rate (CAGR), market share, and milestones so far.

●     For a valuable insight into manufacturers, capacity, production, revenue, market share, and recent development.

●     For identifying significant trends, drivers, influence factors in global, and regions.

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