Geomechanics Software and Services Market- Snapshot

The state of equilibrium of rock and soil is disturbed by activities such as drilling.To study the consequences of industrial activities on soil and rock formations, seismicity, soil load bearing, geomechanics software and services are helping industries identify risks and mitigate issues. Geomechanics software and services gives insights into geomechanical risks to optimize the performance of wells and reservoirs in petroleum engineering. Geomechanics finds application in mining, civil construction, and waste disposal industries in addition to oil and gas industry. The data generated from geomechanics solutions is analyzed to measure changes in environmental parameters such as stress, temperature, pressure, etc. With technological advancements such as Internet of Things (IoT), opportunities for geomechanical data generation have increased over the years and thus the adoption of geomechanics software is expected to increase further.

geomechanics software market

Need for enhanced geophysical and seismic understanding of minefields, oilfields, construction sites, and nuclear waste disposal sites for successful operations across industries such as oil and gas, mining, civil construction, and nuclear waste disposal is the key factor driving the geomechanical software and services market. Companies in the oil and gas industry are adopting geomechanics software to increase the success rate of exploration activities. However, fluctuating commodity prices and the falling CAPEX especially in IT spending and resource development in the oil and gas and mining industries is hindering the growth of the geomechanics software and servicesmarket.

The geomechanics software and services market is segmented based on component, solution type, end-use industry, and region. By component, the market is segmented as software and services. Geomechanics software is further segmented into standalone and integrated. Geomechanics services are classified into consulting, integration & implementation, and support & maintenance. The market is also segmented based on solution type into oil and gas industry solutions which are reservoir characterization, reservoir simulation, drilling and production; mining solutions which comprise subsidence prediction, mine dewatering & pore pressure analysis, excavation design and analysis, slope stability, and others; civil construction solutions which comprise rock mechanics, slope stability, tunnel design and support analysis, soil and rock structure interaction and others; and geomechanics solutions for nuclear waste disposal applications which are rock characterization, acoustic emission monitoring, geomechanical modeling, ultrasonic surveys and others. Further, by end-use industry, the market is segmented into oil and gas, mining, civil construction, and nuclear waste disposal. It is anticipated that oil and gas industry segment will continue to dominate the market over the forecast period as geomechanics software has become an integral part of all aspects of petroleum extraction from exploration to production in improving efficiency and minimizing costs.

Regional segmentation ofthe geomechanics software and services market includes North America, Europe, Asia Pacific, South America, and Middle East & Africa (MEA). North America is expected to dominate the geomechanics software and services market due to increasing adoption of exploration technologies in oil and gas and mining industries. Asia Pacific is likely to observe strong growth opportunities during the forecast period dueto rising investments in oil and gas and mining industries.

Key players of the geomechanics software and services market are Schlumberger Limited, Ikon Science Ltd., Rockfield Global Technologies, Itasca Consulting Group, Baker Hughes Global (a GE Company), Geosteering Technologies, HXR Drilling Services, CGG, and Landmark Solutions – Halliburton, among others.

Geomechanics Software and Services Market: Overview

The geomechanics software and services market report provides analysis of the geomechanics software and services market for the period 2016 –2026, wherein the years from 2018 to 2026 is the forecast period and 2017 is considered as the base year. The report covers all the major trends and technologies playing a major role in the growth of the geomechanics software and services market over the forecast period. It highlights the drivers, restraints, and opportunities expected to influence the market growth during this period. The study provides a holistic perspective on the market’s growth in terms of revenue (in US$ Mn) across different geographical regions, namely North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The market overview section of the report demonstrates market dynamics such as the drivers, restraints, and opportunities that influence the current nature and future status of this market, key trends, ecosystem analysis, Porter’s Five Force Analysis, and PESTEL analysis of the market. A market attractiveness analysis has been provided for every segment in the report, in order to provide a thorough understanding of the overall scenario in the geomechanics software and services market. The report also provides an overview of various strategies adopted by key players in the market.

Global Geomechanics Software and Services Market: Scope of the Report

The report segments the geomechanics software and services market based on component, solution type, end-use industry, and region. By component, the market is segmented as software and services. Geomechanics software are further segmented into standalone and integrated. Geomechanics services are classified into consulting, integration & implementation, and support & maintenance. The market is also segmented based on solution type into oil and gas industry solutions which are reservoir characterization, reservoir simulation, drilling and production; mining solutions which comprise subsidence prediction, mine dewatering & pore pressure analysis, excavation design and analysis, slope stability, and others; civil construction solutions  which are rock mechanics, slope stability, tunnel design and support analysis, soil and rock structure interaction and others; and geomechanics solutions for nuclear waste disposal applications which are rock characterization, acoustic emission monitoring, geomechanical modeling, ultrasonic surveys and others. Further, by end-use industry, the market is segmented into oil and gas, mining, civil construction, and nuclear waste disposal. The report provides in-depth segment analysis of the global geomechanics software and services market, thereby providing valuable insights at the macro as well as micro levels.

The report also provides the competitive landscape for the geomechanics software and services market, listing out all the major players according to their geographic presence, market attractiveness, and recent key developments. The competitive landscape section of the report gives an overview about the market share of several key players for the year 2017. Geomechanics software and services data estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the market growth. Moreover, the key takeaways section provided at the end of the competitive landscape section would help the operating companies to make the best moves in this market.  

This report provides all the essential information required to understand the key developments in the geomechanics software and services market, and growth trends of each segment and region. It also includes basic overview, sales area/geographical presence, revenue, strategy, and SWOT analysis under the company profile section. Also, the report provides insights related to trends and their impact on the market. Furthermore, Porter’s Five Forces analysis explains the five forces, namely buyers bargaining power, suppliers bargaining power, threat of new entrants, threat of substitutes, and degree of competition in the market. This report also provides a comprehensive ecosystem analysis of the geomechanics software and services market.

Global Geomechanics Software and Services Market: Research Methodology

The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Secondary research sources such as annual reports, company websites, broker reports, financial reports, SEC filings and investor presentations, national government documents, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, statistical databases, World Bank database, and industry white papers are referred.

Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews on the geomechanics software and services market, across geographies. Primary interviews are usually conducted on an ongoing basis with industry experts and participants in order to get latest market insights and validate the existing data and analysis. Primary interviews offer first-hand information on important factors such as market trends, market size, competitive landscape, growth trends and outlook etc. These factors help to validate and strengthen secondary research findings and also help to develop the analysis team’s expertise and market understanding. Moreover, the data collected and analyzed from secondary and primary research is again discussed and examined by our expert panel.

Global Geomechanics Software and Services Market: Competitive Dynamics

Schlumberger Limited, Ikon Science Ltd., Rockfield Global Technologies, Itasca Consulting Group, Baker Hughes Global (a GE Company), Geosteering Technologies, HXR Drilling Services, CGG, and Landmark Solutions – Halliburton, are some of the key players that have been profiled in this study. Details such as financials, business strategies, SWOT analysis, and other such strategic information pertaining to these players have been provided as part of company profiling.

The global geomechanics software and services market is segmented as below:

Global Geomechanics Software and Services Market, by Component

  • Software
    • Standalone
    • Integrated
  • Services
    • Consulting
    • Integration & Implementation
    • Support & Maintenance

Global Geomechanics Software and Services Market, by Solution Type

  • Oil and Gas Solutions
    • Reservoir Characterization
    • Reservoir Simulation
    • Drilling
    • Production
  • Mining
    • Subsidence Prediction
    • Mine Dewatering and Pore Pressure Analysis
    • Excavation Design and Analysis
    • Slope Stability
    • Others
  • Civil Construction
    • Rock Mechanics
    • Slope Stability
    • Tunnel Design and Support Analysis
    • Soil and Rock Structure Interaction
    • Others
  • Nuclear Waste Disposal
    • Rock Characterization
    • Acoustic Emission Monitoring
    • Geomechanical Modeling
    • Ultrasonic Surveys
    • Others

Global Geomechanics Software and Services Market, by End-use Industry

  • Oil and Gas
  • Mining
  • Civil Construction
  • Nuclear Waste Disposal

Global Geomechanics Software and Services Market, by Geography

  • North America
    • The U.S.
    • Canada
    • Rest of North America
  • Europe
    • The U.K
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific (APAC)
    • India
    • China
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Rest of South America
.