Rising technical innovations in the oil and gas sector are expected to propel growth in the global microseismic monitoring market. The above information was provided by Fortune Business Insights in a report, titled “MicroSeismic Monitoring Market Size, Share and Global Trend By Process (Data Processing, Data Interpretation, Data Acquisition, Data Triangulation), By Component (Hardware, Software, Services), By End Users (Mining, Oil & Gas and others) and Geography Forecast till 2025.” As per the report, recent technical innovations fostering high adoption of AI algorithms and cloud-based services will bode well for the global market. In addition to this, the rising implementation of industrial IoT services in oil and gas and mining production is expected to enable growth in the market.
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Major Segments Mentioned:
1. By Process
• Data Processing
• Data Interpretation
• Data Acquisition
• Data Triangulation
2. By Component
3. By End Users
• Oil & Gas
• Energy and Utilities
• Health care
4. By Geography
• North America (the USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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Top Players List:
• Geospace Technologies
• ION Geophysical
• LANDTECH GEOPHYSICS LIMITED
• Weir-Jones Group
• Fairfield Geotechnologies.
Rising use of micro seismic monitoring technology in environmental engineering is expected to boost the global micro seismic monitoring market. This will further help to evaluate the location of underground rock fractures in real-time.
Rising use of hardware especially in mining and oil & gas sectors is expected to be another leading factor enabling growth in the market. Hardware includes cables, sensors, accelerometers, and geophones. The micro seismic hydraulic fracturing helps to improve the artificial fracture geometry and monitor heavy rock ruptures. Furthermore, micro seismic monitoring mining is widely used to monitor reservoirs and domestic mining production. All the above mentioned benefits are expected to increase the adoption of micro seismic monitoring services during the forecast years.
Contrary to this, lack of experts who have the technical know-how about operating the seismological processes may restrict the market.
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Major Table of Content for Micro Seismic Monitoring Market:
2. Executive Summary
3. Market Dynamics
4. Key Insights
5. Global Micro Seismic Monitoring Market Analysis, Insights and Forecast, 2014-2025
6. North America Micro Seismic Monitoring Market Analysis, Insights and Forecast, 2014- 2025
7. Europe Micro Seismic Monitoring Market Analysis, Insights and Forecast, 2014-2025
8. Asia Pacific Micro Seismic Monitoring Market Analysis, Insights and Forecast, 2014-2025
9. The Middle East and Africa Micro Seismic Monitoring Market Analysis, Insights and Forecast, 2014-2025
10. Latin America Micro Seismic Monitoring Market Analysis, Insights and Forecast, 2014-2025
11. Competitive Landscape
12. Company Profile
Key Industry Developments
• October 2018- Hart Energy introduced Real-Time ‘Meat Thermometer’, an AI based algorithm that provides cutting-edge micro seismic technology. This technology offers end user to upgrade micro seismic monitoring measures for increasing production and develop their mining & production operations.
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