Industry Statistics and Trends
Market size and recent performance (2015-2030)
Industry revenue has grown at a CAGR of 2.5 % over the past five years, to reach an estimated $916.7m in 2025.
Trends and Insights
Significant fluctuations in downstream commodity markets drives technological investment
- Geophysical services rely heavily on oil and gas exploration investment, which fluctuates with global energy prices. As global conditions vary, so does the industry's stability. The presence of extensive mineral deposits in Canada also makes metal and nonmetallic mining industries substantial markets for geophysical services.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2025-2030)
Market size is projected to decline over the next five years.
Trends and Insights
Soft commodity prices and economic headwinds will keep geophysical services flat
- Economic conditions will continue to shape geophysical services, with softer commodity prices restraining exploration budgets even as energy transition work expands targeted niches. Public guidance will point to health-check recoveries rather than a broad capex surge, while operators will weigh inflation, supply reliability and financing costs when sequencing new programs. In this environment, revenue will trend flat before stabilizing as project pipelines reset around critical minerals and selective gas appraisal.
Biggest companies in the Geophysical Services in Canada
| Company | Market Share (%)
2025 | Revenue ($m)
2025 | Profit ($m)
2025 | Profit Margin (%)
2025 |
|---|---|---|---|---|
Stantec | 91.4 | 11.1 | 12.1 | |
Schlumberger | 88.6 | 14.5 | 16.4 | |
Viridien | 45.6 | 6.9 | 15.1 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Geophysical data sales, Geophysical data collection and Integrated geophysical services. Geophysical data sales is the largest segment of the Geophysical Services in Canada.
Trends and Insights
Geophysical data collection powers resource discovery and monitoring across industries
- Geophysical data collection involves using various surveying methods to map subsurface structures and identify natural resources. Techniques include 2D, 3D and 4D seismic surveys, magnetic, gravity and electromagnetic surveys. These methods help pinpoint the locations of oil, natural gas and mineral deposits, aiding in efficient resource extraction and management.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
Operators in the Canadian Geophysical Services industry gather, interpret and map geophysical data. They often specialize in locating and measuring the extent of subsurface resources, such as oil, gas and minerals, but may also conduct surveys for engineering purposes. Operators use a variety of surveying techniques depending on the purpose of the survey, including magnetic surveys, gravity surveys, seismic surveys or electrical and electromagnetic surveys.
What's included in this industry?
Products and services covered in the Geophysical Services industry in Canada include Geophysical surveying and mapping of subsurface terrain or formations, Identifying subsurface fault lines and mineral deposits, Performing magnetic surveys, Performing gravity surveys, Performing seismic surveys, Performing electrical and electromagnetic surveys, Geophysical surveying for metal mining (contract basis), Geophysical surveying for oil and gas fields (contract basis) and Geophysical surveying for nonmetallic minerals (contract basis).Companies
Companies covered in the Geophysical Services industry in Canada include Stantec, Schlumberger and Viridien.Purchase this report to view all 4 major companies in this industry.
Related Terms
Related terms covered in the Geophysical Services industry in Canada include geophysical survey, seismic survey and survey crew.Industry Code
NAICS 541360 - Geophysical Services in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Geophysical services face high instability due to their dependence on resource exploration. Fluctuating commodity prices have caused unpredictable performance, creating chall...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2015-2024) and forecast (2025-2030)
- Employees, including historical (2015-2024) and forecast (2025-2030)
- Businesses, including historical (2015-2024) and forecast (2025-2030)
- Profit, including historical (2015-2025)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Oil and gas exploration remains a core revenue source for geophysical services. Generating over half of industry revenue, this sector continues to underpin financial stabilit...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2025
- Product innovation level
Charts
- Products & services segmentation in 2025
- Major market segmentation in 2025
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Alberta's high concentration of geophysical providers underscores the region's resource-driven economy. The local natural resources sector demands significant geophysical ser...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2025
Tables
- Number and share of establishments in each province in 2025
- Number and share of revenue each province accounts for in 2025
- Number and share of wages each province accounts for in 2025
- Number and share of employees in each province in 2025
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Companies aim to establish reputations for quality, cost-effectiveness and timeliness. By consistently delivering on these values, they attract repeat clients and strengthen ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2020-2025
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
SLB is the largest player in the geophysical services industry. The company is shifting focus towards clean energy solutions, leveraging its technological expertise to innova...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2021 through 2025
- Major companies in the industry, including market share, revenue, profit and profit margin in 2025
- Overview of Stantec's performance by revenue, market share and profit margin from 2019 through 2025
- Overview of Schlumberger's performance by revenue, market share and profit margin from 2019 through 2025
- Overview of Viridien's performance by revenue, market share and profit margin from 2019 through 2025
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Stantec, and factors influencing its performance in the industry
- Description and key data for Schlumberger, and factors influencing its performance in the industry
- Description and key data for Viridien, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Copyright laws protect the intellectual property of geophysical service providers and ensure that geophysical surveying designs, costs, and drawings are legally safeguarded fr...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2015-2030)
- Assistance historical data and forecast (2015-2030)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Geophysical services rely on highly skilled professionals for equipment operation and result analysis. This expertise is critical to accurately interpret data and maintain th...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2018-2023)
- Coverage Ratios (2018-2023)
- Leverage Ratios (2018-2023)
- Operating Ratios (2018-2023)
- Assets (2018-2023)
- Liabilities (2018-2023)
- Cash Flow & Debt Service Ratios (2015-2030)
- Revenue per Employee (2015-2030)
- Revenue per Enterprise (2015-2030)
- Employees per Establishment (2015-2030)
- Employees per Enterprise (2015-2030)
- Average Wage (2015-2030)
- Wages/Revenue (2015-2030)
- Establishments per Enterprise (2015-2030)
- IVA/Revenue (2015-2030)
- Imports/Demand (2015-2030)
- Exports/Revenue (2015-2030)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2015-2030)
- IVA (2015-2030)
- Establishments (2015-2030)
- Enterprises (2015-2030)
- Employment (2015-2030)
- Exports (2015-2030)
- Imports (2015-2030)
- Wages (2015-2030)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Geophysical Services industry in Canada in 2025?
The market size of the Geophysical Services industry in Canada is $916.7m in 2025.
How many businesses are there in the Geophysical Services industry in Canada in 2025?
There are 1,095 businesses in the Geophysical Services industry in Canada, which has declined at a CAGR of 2.0 % between 2020 and 2025.
How may import tariffs affect the Geophysical Services industry in Canada?
The Geophysical Services industry in Canada is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Geophysical Services industry in Canada?
The Geophysical Services industry in Canada is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Geophysical Services industry in Canada grown or declined over the past 5 years?
The market size of the Geophysical Services industry in Canada has been growing at a CAGR of 2.5 % between 2020 and 2025.
What is the forecast growth of the Geophysical Services industry in Canada over the next 5 years?
Over the next five years, the Geophysical Services industry in Canada is expected to decline.
What are the biggest companies in the Geophysical Services industry in Canada?
The biggest companies operating in the Geophysical Services industry in Canada are Stantec, Schlumberger and Viridien
What does the Geophysical Services industry in Canada include?
Geophysical surveying and mapping of subsurface terrain or formations and Identifying subsurface fault lines and mineral deposits are part of the Geophysical Services industry in Canada.
Which companies have the highest market share in the Geophysical Services industry in Canada?
The company holding the most market share in the Geophysical Services industry in Canada is Stantec.
How competitive is the Geophysical Services industry in Canada?
The level of competition is high and increasing in the Geophysical Services industry in Canada.
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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