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Micro Seismic Monitoring Technology Market to Be Driven by Rising Investments by Oil and Gas Exploration Industries

Micro Seismic Monitoring Technology Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast, 2013 – 2019


Albany, NY -- (SBWIRE) -- 06/22/2016 -- The global market for micro seismic monitoring technology is the focus of analysis of a recent market research report by Transparency Market Research. The report is titled "Micro Seismic Monitoring Technology Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast, 2013 – 2019." The document gives a thorough overview of the present state of the market, along with a forward looking perspective of the market's growth prospects over the period from 2013 through 2019.

The report examines the key segments of the market over the forecast period across major regional markets and presents a forecast regarding how major growth opportunities, challenges, and trends will impact the overall development of the market.

Micro seismic monitoring technology allows the passive observation of micro earthquakes (magnitude too small to be felt on the earth's surface) which occur in the ground as a result of activities or processes such as hydraulic fracturing, mining, enhanced oil recovery, or other underground operations. Traditional micro seismic monitoring technology helps determine the location and magnitude of a micro earthquake. When observed over time, micro seismic mapping helps determine a pattern of seismicity and its potential impact on production activities.

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Advanced micro seismic monitoring technologies help reveal more detailed information about the microseismicity of the area to be explored, divulging essential information about how the rock is responding to the mining or exploration activity. This helps in increased efficiency of the exploration and production activity and leads to optimized operations.

In the past few years, the rising demand for increased production of oil and gas to sustain the rising demand for oil-based fuels and power, and increased mining and other geological exploration activities have led to the increased demand for effective micro seismic monitoring technologies.

The report segments the global micro seismic monitoring technology market on the basis of application, end user, and geography.

On the basis of application, the market has been segmented into underground mining, hydraulic fracturing, waste injection, open-pit mining, underground gas storage, and life-of-field reservoir monitoring. North America is presently the leading regional market for the global micro seismic monitoring technology market owing to the rising oil and gas production activities.

The report also includes a detailed overview of the competitive landscape of the market, wherein key details pertaining to the business profiles, finances, revenues, market strategies, recent product and technological developments, and other data for some of the major vendors in the market has been analyzed in the report. Some of the major vendors in the global micro seismic monitoring technology market recognized and profiled in the report are Hess Corporation, Bakerhuges, ESG Solutions, Sigma Cubed, Schlumberger, and Halliburton.

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TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.