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Geomechanics Software and Services Markets, 2028 - Increasing Demand Among Oil & Gas Industry to Enhance the Performance

Research and Markets
·5-min read

Dublin, Oct. 08, 2020 (GLOBE NEWSWIRE) -- The "Geomechanics Software And Services Market By Component, By Solution, By Application - Growth, Future Prospects And Competitive Analysis, 2020 - 2028" report has been added to ResearchAndMarkets.com's offering.

The Increasing Demand Among Oil & Gas Industry to Enhance the Performance is Driving the Growth of Geomechanics Software & Services Market

Globally, the geomechanics software & services market is expected to grow with a CAGR of 15.7% during the forecast period from 2020 to 2028.

The market is driven by the growing demand among the oil & gas industry to enhance the performance of the drilling, reduce non productive time, and optimize wellbore contact. Due to the uncertain prices of the oil & gas commodities and increasing competition, the oil & gas companies are looking for more advance ways to reduce the cost of operation and gain operational efficiency. This is augmenting the demand of geomechanics software and services among the organizations to provide advance tools and service for optimizing the operational performance.

The geomechanics software and services enables organization to analyze the subsurface pressure, optimize refinement of fluids, and casing of fracture design. Furthermore, the solutions allow the geoscientists and engineers to enhance the operational safety, increase drilling efficiency and complete the design. These are the major factors that are augmenting the demand for geomechanics software and solutions among the organizations. However, the lack of skilled professionals in the oil & gas industry is acting as a major inhibitor for the growth of the market.

Services is Estimated to Grow Significantly During the Forecast Period

The geomechanics software & services market is categorized based on the component into software and services. The software segment accounted for more than 65% share in the revenue in 2019. The growth of the market is attributed to the wide-scale adoption of the standalone software solution among the oil & gas industry. Furthermore, the growing demand among the oil & gas industry for real-time analytics is also accelerating the adoption of the software solutions. On the other hand, services are estimated to grow significantly during the forecast period. The growing demand of third party service provider is driving the services market.

North America is Leading the Geomechanics Software & Services Market

North America led the global geomechanics software & services market in 2019 with a market share of more than 35%. The growth of the market is driven by the growing shale gas exploration activities in the region. Furthermore, the growing adoption of the advance technologies among the oil & gas industry is further accelerating the market growth. Additionally, the presence of the major market player in the region is also fostering the market growth.

The major vendors in the geomechanics software & services market are CGG, Baker Hughes, Geosteering Technologies, Ikon Science Ltd., HXR Drilling Services, Itasca Consulting Group, Schlumberger Limited, Landmark Solutions (Halliburton), and Rockfield Global Technologies.

Key questions answered in this report

  • What was the market size of geomechanics software & services in 2019 and forecast up to 2028?

  • Which is the largest regional market for geomechanics software & services?

  • What are the major trends followed in geomechanics software & services market across different regions?

  • Who are the key companies in the geomechanics software & services market?

  • What are the key strategies adopted by the leading geomechanics software & services companies in market?

Key Topics Covered:

Chapter 1 Preface

Chapter 2 Executive Summary

Chapter 3 Market Dynamics
3.1 Introduction
3.2 Market Dynamics
3.2.1 Market Drivers
3.2.2 Market Restraint
3.3 Attractive Investment Proposition, by Geography, 2019
3.4 Market Positioning of Key GSS Vendors, 2019

Chapter 4 Global Geomechanics Software & Service (GSS) Market, By Component
4.1 Overview
4.1.1 Global Geomechanics Software and Services Market Value Share, by Component, 2019 & 2028 (Value, %)
4.2 Software
4.2.1 Global Geomechanics Software and Services Market Value from Software, 2018 - 2028 (US$ Mn)
4.2.2 Standalone
4.2.3 Integrated
4.3 Service
4.3.1 Global Geomechanics Software and Services Market Value from Service, 2018 - 2028 (US$ Mn)
4.3.2 Integration & Implementation
4.3.3 Consulting
4.3.4 Support & Maintenance

Chapter 5 Global Geomechanics Software & Service (GSS) Market, by Solution
5.1 Overview
5.1.1 Global Geomechanics Software and Services Market Value Share, by Solution, 2019 & 2028 (Value, %)
5.2 Oil & Gas Solution
5.2.1 Global Geomechanics Software and Services Market Value from Oil & Gas Solution, 2018 - 2028(US$ Mn)
5.2.2 Reservoir Characterization
5.2.3 Reservoir Simulation
5.2.4 Drilling
5.2.5 Production
5.3 Mining
5.3.1 Global Geomechanics Software and Services Market Value from Mining, 2018 - 2028(US$ Mn)
5.3.2 Subsidence Prediction
5.3.3 Mine DeWatering Pore Pressure Analysis
5.3.4 Excavation Design and Analysis
5.3.5 Slope Stability
5.3.6 Others
5.4 Civil Construction
5.4.1 Global Geomechanics Software and Services Market Value from Civil Construction, 2018 - 2028(US$ Mn)
5.4.2 Rock Mechanics
5.4.3 Tunnel Design and Support Analysis
5.4.4 Soil & Rock Structure Interaction
5.4.5 Slope Stability
5.4.6 Others
5.5 Nuclear Waste Disposable
5.5.1 Global Geomechanics Software and Services Market Value from Nuclear Waste Disposable, 2018 - 2028(US$ Mn)
5.5.2 Rock Characterization
5.5.3 Acoustic Emission Monitoring
5.5.4 Geomechanical Modeling
5.5.5 Ultrasonic Surveys
5.5.6 Others

Chapter 6 Global Geomechanics Software & Service (GSS) Market, by Application
6.1 Overview
6.1.1 Global Geomechanics Software and Services Market Value Share, by Application, 2019 & 2028 (Value, %)
6.2 Oil & Gas
6.3 Mining
6.4 Civil Construction
6.5 Nuclear Waste Disposable

Chapter 7 North America Geomechanics Software & Service (GSS) Market Analysis, 2018 - 2028 (US$ Mn)

Chapter 8 Europe Geomechanics Software & Service (GSS) Market Analysis, 2018 - 2028 (US$ Mn)

Chapter 9 Asia Pacific Geomechanics Software & Service (GSS) Market Analysis, 2018 - 2028 (US$ Mn)

Chapter 10 Rest of the World (RoW) Geomechanics Software & Service (GSS) Market Analysis, 2018 - 2028 (US$ Mn)

Chapter 11 Company Profiles

  • CGG

  • Baker Hughes

  • Geosteering Technologies

  • Ikon Science Ltd.

  • HXR Drilling Services

  • Itasca Consulting Group

  • Schlumberger Limited

  • Landmark Solutions (Halliburton)

  • Rockfield Global Technologies.

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