Geosteering Technology Market Size, Share Report 2022, 2027
The geosteering technology market was valued at US$ 15.27 billion in 2019, it is expected to grow at a CAGR of 11.8% during the forecast period.
Geosteering technology helps in adjusting well placement while drilling to enhance the well's overall performance. This technology utilizes the information across various equipment, geological insights and other critical data repositioning or redirecting the equipment during the drilling process.. Growing global population is driving the demand for oil and gas worldwide, leading to an increased usage of geosteering technology. For example, according to the Organization of the Petroleum Exporting Countries, in 2017, the global oil demand amounted to 97.32 million barrels per day. However, the global supply of oil was 96.10 million barrels per day. Thus, leading to increased investment in oil field exploration projects and subsequently geosteering related services in coming years. In August 2018, ExxonMobil announced the discovery of an oilfield in Guyana, South America. Increase in oil well drilling activities at the global level is also driving the growth of the geosteering technology market. For instance, according to the World Oil, in 2017, a total number of 58,294 oil well drilling activities took place. Such factors are anticipated to propel market growth in the near future.
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Geosteering Technology Market: Strategic Insights
Market Size Value in US$ 15.27 Billion in 2019 Market Size Value by US$ 27.91 Billion by 2027 Growth rate CAGR of 11.8% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Geosteering Technology Market: Strategic Insights
| Market Size Value in | US$ 15.27 Billion in 2019 |
| Market Size Value by | US$ 27.91 Billion by 2027 |
| Growth rate | CAGR of 11.8% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Impact of COVID-19 Pandemic on Geosteering Technology Market
The COVID-19 pandemic continues to negatively influence the overall oil & gas industry owing to considerable disruption in the industry supply chain activities coupled with the several countries sealing off their international trade in wake of the pandemic.. , The discontinuation of drilling activities significantly disrupted the demand for any related supporting services and solution including geosteering technologies. As a result, several countries have witnessed significant negative impact on their demand for overall oil & gas and subsequently the geosteering related solution as well as services. Hence, the geosteering technologies market witnessed substantial decline in demand during the early months of 2020, however, the demand resumed upon the continuation of economic activities. Thus, the global market is projected to recover the lack of demand during the coming months and the subsequent years.
Geosteering Technology Market Insights
Growing Demand for Precise Real-Time Information to Achieve Maximum Production
The geosteering technology also helps optimize the position of a horizontal wellbore within the reservoir at different spots. Exploration and production (E&P) technologies related to communication of vital data in real-time through the Internet, advanced and accurate directional drilling, as well as reduced cycle time associated with forward-looking 3D geo-modeling and visualization technologies, are currently converging. A rising motivation to cut down or decrease the associated costs is responsible for advancing the horizontal well-geosteering process by incorporating the MWD tool into mainstream drilling practices. Thus, the rising production of shale and a resulting hike in horizontal and unconventional drilling is one of the major factors driving the geosteering technology market’s growth.
Product-Based Market Insights
Based on product, the geosteering technology market is segmented into logging while drilling (LWD), measurement-while-drilling (MWD), rotary steerable systems (RSS), drive systems, and others. The companies present in the market are focusing on offering various tools, software, and services, which helps in gaining real-time information on the spot being drilled. Logging while drilling (LWD) is an oilfield technique that provides a tool within drill strings that helps in transmitting real-time formation information. LWD ensures the subsurface measurement in conditions where wellbores are difficult to measure using traditional wireline tools. LWD tools acquire formation evaluation data that aid in gathering data specific to oil reserves and assists in timely decision making and accurate well-placement of equipment for drilling operations.
Application-Based Market Insights
Based on application, the geosteering technology market is segmented into petroleum development, natural gas transportation, and others. The geosteering technology is used by oil and gas companies to improve their efficiencies, reduce production costs, and optimize the well-placement. Growing demand for geosteering technologies by oil and gas companies is the major factor driving the market. Increasing adoption of the horizontal directional drilling technique is another factor that is expected to support the market growth. In mature oil & gas areas, geosteering is used to keep the wellbore in a particular reservoir section to reduce the gas or water breakthrough and improve economic productivity. The geosteering drilling techniques help in addressing problems such as deep and thin reservoirs and unstable structure margin. Moreover, a geosteering approach offers various advantages such as drilling efficiencies (including better ROP, less sliding, and longer lateral reach), better reservoir penetration, completion efficiencies, and better ROI.
Geosteering Technology Market Report Scope
The players in the geosteering technology market focus on strategies such as market initiatives, acquisitions, and product launches to maintain their positions in the market. A few developments by key players are listed below:
In 2020, Emerson Paradigm Holding LLC released Paradigm 19 software suits for all its all E&P software domains which would save cost, increase workflow efficiency, and educed uncertainty. The software suite is available for cloud as well as on premise platform.
In 2019, Schlumberger Limited announced that it ended the Sensia joint venture with Rockwell Automation Inc. Sensia was the oil & gas industry's first digitally enabled automated integrated solution.
Geosteering Technology Market – by Product
- Logging While Drilling
- Measurement-While-Drilling
- Rotary Steerable Systems
- Drive Systems
- Others
Geosteering Technology Market – by Application
- Petroleum Development
- Natural Gas Transportation
- Others
Geosteering Technology Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
- Middle East & Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Geosteering Technology Market – Company Profiles
- Cougar Drilling Solution Inc.
- Emerson Paradigm Holding LLC
- Exlog
- Geonaft
- Geotech Logging Services LLC
- Halliburton Energy Services, Inc.
- HMG Software LLC
- ROGII Inc.
- Schlumberger Limited
- Terracosm Software, LLC
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product and Application , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Geosteering Technology Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Geosteering Technology Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demand for Precise Real-Time Information to Achieve Maximum Production
5.1.2 Rising Production of Shale and Resulting Hike in Horizontal and Unconventional Drilling
5.2 Market Restraints
5.2.1 High Cost of Materials and Overall Manufacturing Process
5.3 Market Opportunities
5.3.1 Growing Initiatives by Market Players for Digitization of Geosteering Technology
5.4 Future Trends
5.4.1 Increasing Demand for Intensive R&D
5.5 Impact Analysis of Drivers and Restraints
6. Geosteering Technology – Global Market Analysis
6.1 Geosteering Technology Market Overview
6.2 Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Billion)
6.3 Market Positioning – Global Market Players Ranking
7. Geosteering Technology Market Analysis – By Product
7.1 Overview
7.2 Geosteering Technology Market, By Product (2019 and 2027)
7.3 Logging While Drilling
7.3.1 Overview
7.3.2 Logging While Drilling: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Measurement-While-Drilling
7.4.1 Overview
7.4.2 Measurement-While-Drilling: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
7.5 Rotary Steerable Systems
7.5.1 Overview
7.5.2 Rotary Steerable Systems: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
7.6 Drive Systems
7.6.1 Overview
7.6.2 Drive Systems: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
8. Geosteering Technology Market Analysis – By Application
8.1 Overview
8.2 Geosteering Technology Market, By Application (2019 and 2027)
8.3 Petroleum Development
8.3.1 Overview
8.3.2 Petroleum Development: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
8.4 Natural Gas Transportation
8.4.1 Overview
8.4.2 Natural Gas Transportation: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9. Geosteering Technology Market – Geographic Analysis
9.1 Overview
9.2 North America: Geosteering Technology Market
9.2.1 North America: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.2.2 North America: Geosteering Technology Market, by Product
9.2.3 North America: Geosteering Technology Market, by Application
9.2.4 North America: Geosteering Technology Market, by Key Country
9.2.4.1 US: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.2.4.1.1 US: Geosteering Technology Market, by Product
9.2.4.1.2 US: Geosteering Technology Market, by Application
9.2.4.2 Canada: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.2.4.2.1 Canada: Geosteering Technology Market, by Product
9.2.4.2.2 Canada: Geosteering Technology Market, by Application
9.2.4.3 Mexico: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.2.4.3.1 Mexico: Geosteering Technology Market, by Product
9.2.4.3.2 Mexico: Geosteering Technology Market, by Application
9.3 Europe: Geosteering Technology Market
9.3.1 Europe: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.3.2 Europe: Geosteering Technology Market, by Product
9.3.3 Europe: Geosteering Technology Market, by Application
9.3.4 Europe: Geosteering Technology Market, by Key Country
9.3.4.1 UK: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.3.4.1.1 UK: Geosteering Technology Market, by Product
9.3.4.1.2 UK: Geosteering Technology Market, by Application
9.3.4.2 Germany: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.3.4.2.1 Germany: Geosteering Technology Market, by Product
9.3.4.2.2 Germany: Geosteering Technology Market, by Application
9.3.4.3 France: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.3.4.3.1 France: Geosteering Technology Market, by Product
9.3.4.3.2 France: Geosteering Technology Market, by Application
9.3.4.4 Italy: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.3.4.4.1 Italy: Geosteering Technology Market, by Product
9.3.4.4.2 Italy: Geosteering Technology Market, by Application
9.3.4.5 Russia: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.3.4.5.1 Russia: Geosteering Technology Market, by Product
9.3.4.5.2 Russia: Geosteering Technology Market, by Application
9.3.4.6 Rest of Europe: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.3.4.6.1 Rest of Europe: Geosteering Technology Market, by Product
9.3.4.6.2 Rest of Europe: Geosteering Technology Market, by Application
9.4 APAC: Geosteering Technology Market
9.4.1 APAC: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.4.2 APAC: Geosteering Technology Market, by Product
9.4.3 APAC: Geosteering Technology Market, by Application
9.4.4 APAC: Geosteering Technology Market, by Key Country
9.4.4.1 China: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.4.4.1.1 China: Geosteering Technology Market, by Product
9.4.4.1.2 China: Geosteering Technology Market, by Application
9.4.4.2 Japan: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.4.4.2.1 Japan: Geosteering Technology Market, by Product
9.4.4.2.2 Japan: Geosteering Technology Market, by Application
9.4.4.3 India: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.4.4.3.1 India: Geosteering Technology Market, by Product
9.4.4.3.2 India: Geosteering Technology Market, by Application
9.4.4.4 Australia: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.4.4.4.1 Australia: Geosteering Technology Market, by Product
9.4.4.4.2 Australia: Geosteering Technology Market, by Application
9.4.4.5 South Korea: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.4.4.5.1 South Korea: Geosteering Technology Market, by Product
9.4.4.5.2 South Korea: Geosteering Technology Market, by Application
9.4.4.6 Rest of APAC: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.4.4.6.1 Rest of APAC: Geosteering Technology Market, by Product
9.4.4.6.2 Rest of APAC: Geosteering Technology Market, by Application
9.5 MEA: Geosteering Technology Market
9.5.1 MEA: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.5.2 MEA: Geosteering Technology Market, by Product
9.5.3 MEA: Geosteering Technology Market, by Application
9.5.4 MEA: Geosteering Technology Market, by Key Country
9.5.4.1 Saudi Arabia: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.5.4.1.1 Saudi Arabia: Geosteering Technology Market, by Product
9.5.4.1.2 Saudi Arabia: Geosteering Technology Market, by Application
9.5.4.2 UAE: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.5.4.2.1 UAE: Geosteering Technology Market, by Product
9.5.4.2.2 UAE: Geosteering Technology Market, by Application
9.5.4.3 South Africa: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.5.4.3.1 South Africa: Geosteering Technology Market, by Product
9.5.4.3.2 South Africa: Geosteering Technology Market, by Application
9.5.4.4 Rest of MEA: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.5.4.4.1 Rest of MEA: Geosteering Technology Market, by Product
9.5.4.4.2 Rest of MEA: Geosteering Technology Market, by Application
9.6 SAM: Geosteering Technology Market
9.6.1 SAM: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.6.2 SAM: Geosteering Technology Market, by Product
9.6.3 SAM: Geosteering Technology Market, by Application
9.6.4 SAM: Geosteering Technology Market, by Key Country
9.6.4.1 Brazil: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.6.4.1.1 Brazil: Geosteering Technology Market, by Product
9.6.4.1.2 Brazil: Geosteering Technology Market, by Application
9.6.4.2 Argentina: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.6.4.2.1 Argentina: Geosteering Technology Market, by Product
9.6.4.2.2 Argentina: Geosteering Technology Market, by Application
9.6.4.3 Rest of SAM: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.6.4.3.1 Rest of SAM: Geosteering Technology Market, by Product
9.6.4.3.2 Rest of SAM: Geosteering Technology Market, by Application
10. Impact of COVID-19 Pandemic- Geosteering Technology Market
10.1 Overview
10.2 North America: Impact Assessment of COVID-19 Pandemic
10.3 Europe: Impact Assessment of COVID-19 Pandemic
10.4 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
10.5 MEA: Impact Assessment of COVID-19 Pandemic
10.6 SAM: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Market Initiative
11.2 Merger and Acquisition
11.3 New Development
12. Company Profiles
12.1 Cougar Drilling Solution Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Emerson Paradigm Holding LLC
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Exlog
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Geonaft
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Geotech Logging Services LLC
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Halliburton Energy Services, Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 HMG Software LLC
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 ROGII Inc.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Schlumberger Limited
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Terracosm Software, LLC
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Billion)
Table 2. North America: Geosteering Technology Market, by Product – Revenue and Forecast to 2027 (US$ Million)
Table 3. North America: Geosteering Technology Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 4. US: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 5. US: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 6. Canada: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 7. Canada: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 8. Mexico: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 9. Mexico: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 10. Europe: Geosteering Technology Market, by Product – Revenue and Forecast to 2027 (US$ Million)
Table 11. Europe: Geosteering Technology Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 12. UK: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 13. UK: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 14. Germany: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 15. Germany: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 16. France: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 17. France: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 18. Italy: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 19. Italy: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 20. Russia: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 21. Russia: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 22. Rest of Europe: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 23. Rest of Europe: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 24. APAC: Geosteering Technology Market, by Product – Revenue and Forecast to 2027 (US$ Million)
Table 25. APAC: Geosteering Technology Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 26. China: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 27. China: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 28. Japan: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 29. Japan: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 30. India: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 31. India: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 32. Australia: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 33. Australia: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 34. South Korea: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 35. South Korea: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 36. Rest of APAC: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 37. Rest of APAC: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 38. MEA: Geosteering Technology Market, by Product – Revenue and Forecast to 2027 (US$ Million)
Table 39. MEA: Geosteering Technology Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 40. Saudi Arabia: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 41. Saudi Arabia: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 42. UAE: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 43. UAE: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 44. South Africa: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 45. South Africa: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 46. Rest of MEA: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 47. Rest of MEA: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 48. SAM: Geosteering Technology Market, by Product – Revenue and Forecast to 2027 (US$ Million)
Table 49. SAM: Geosteering Technology Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 50. Brazil: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 51. Brazil: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 52. Argentina: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 53. Argentina: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 54. Rest of SAM: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 55. Rest of SAM: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 56. List of Abbreviation
LIST OF FIGURES
Figure 1. Geosteering Technology Market Segmentation
Figure 2. Geosteering Technology Market Segmentation – By Geography
Figure 3. Global Geosteering Technology Market Overview
Figure 4. Global Geosteering Technology Market Outlook
Figure 5. Global Geosteering Technology Market – Product Analysis
Figure 6. Global Geosteering Technology Market – Application Analysis
Figure 7. Global Geosteering Technology Market – Geography Analysis
Figure 8. North America: PEST Analysis
Figure 9. Europe: PEST Analysis
Figure 10. APAC: PEST Analysis
Figure 11. MEA: PEST Analysis
Figure 12. SAM: PEST Analysis
Figure 13. Geosteering Technology Market – Ecosystem Analysis
Figure 14. Expert Opinion
Figure 15. Geosteering Technology Market Impact Analysis of Drivers And Restraints
Figure 16. Geographic Overview of Geosteering Technology Market
Figure 17. Global: Geosteering Technology Market – Revenue and Forecast to 2027 (US$ Billion)
Figure 18. Geosteering Technology Market Revenue Share, by Product (2019 and 2027)
Figure 19. Logging While Drilling: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 20. Measurement-While-Drilling: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 21. Rotary Steerable Systems: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 22. Drive Systems: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 23. Others: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 24. Geosteering Technology Market Revenue Share, by Application (2019 and 2027)
Figure 25. Petroleum Development: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 26. Natural Gas Transportation: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 27. Others: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 28. Global Geosteering Technology Market Revenue Share, by Region (2019 and 2027)
Figure 29. North America: Geosteering Technology Market – Revenue and Forecast to 2027 (US$ Million)
Figure 30. North America: Geosteering Technology Market Revenue Share, by Product (2019 and 2027)
Figure 31. North America: Geosteering Technology Market Revenue Share, by Application (2019 and 2027)
Figure 32. North America: Geosteering Technology Market Revenue Share, by Key Country (2019 and 2027)
Figure 33. US: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 34. Canada: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 35. Mexico: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 36. Europe: Geosteering Technology Market – Revenue and Forecast to 2027 (US$ Million)
Figure 37. Europe: Geosteering Technology Market Revenue Share, by Product (2019 and 2027)
Figure 38. Europe: Geosteering Technology Market Revenue Share, by Application (2019 and 2027)
Figure 39. Europe: Geosteering Technology Market Revenue Share, by Key Country (2019 and 2027)
Figure 40. UK: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 41. Germany: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 42. France: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 43. Italy: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 44. Russia: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 45. Rest of Europe: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 46. APAC: Geosteering Technology Market – Revenue and Forecast to 2027 (US$ Million)
Figure 47. APAC: Geosteering Technology Market Revenue Share, by Product (2019 and 2027)
Figure 48. APAC: Geosteering Technology Market Revenue Share, by Application (2019 and 2027)
Figure 49. APAC: Geosteering Technology Market Revenue Share, by Key Country (2019 and 2027)
Figure 50. China: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 51. Japan: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 52. India: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 53. Australia: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 54. South Korea: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 55. Rest of APAC: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 56. MEA: Geosteering Technology Market – Revenue and Forecast to 2027 (US$ Million)
Figure 57. MEA: Geosteering Technology Market Revenue Share, by Product (2019 and 2027)
Figure 58. MEA: Geosteering Technology Market Revenue Share, by Application (2019 and 2027)
Figure 59. MEA: Geosteering Technology Market Revenue Share, by Key Country (2019 and 2027)
Figure 60. Saudi Arabia: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 61. UAE: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 62. South Africa: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 63. Rest of MEA: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 64. SAM: Geosteering Technology Market – Revenue and Forecast to 2027 (US$ Million)
Figure 65. SAM: Geosteering Technology Market Revenue Share, by Product (2019 and 2027)
Figure 66. SAM: Geosteering Technology Market Revenue Share, by Application (2019 and 2027)
Figure 67. SAM: Geosteering Technology Market Revenue Share, by Key Country (2019 and 2027)
Figure 68. Brazil: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 69. Argentina: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 70. Rest of SAM: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 71. Impact of COVID-19 Pandemic in North American Country Markets
Figure 72. Impact of COVID-19 Pandemic in Europe Country Markets
Figure 73. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 74. Impact of COVID-19 Pandemic in MEA Country Markets
Figure 75. Impact of COVID-19 Pandemic in SAM Country Markets
The List of Companies - Geosteering Technology Market
- Cougar Drilling Solution Inc.
- Emerson Paradigm Holding LLC
- Exlog
- Geonaft
- Geotech Logging Services LLC
- Halliburton Energy Services, Inc.
- HMG Software LLC
- ROGII Inc.
- Schlumberger Limited
- Terracosm Software, LLC
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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