USD 586.2 million
Global Offshore Structural Analysis Software Market Size, Share, Growth Analysis, By Components(Software (Cloud Software, On-premise Software)), By End-use(Maritime, Oil & Gas) - Industry Forecast 2024-2031
Report ID:
SQMIG45E2182 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
65 |
Figures:
75
Global Offshore Structural Analysis Software Market Insights
Offshore Structural Analysis Software Market was valued to be USD 586.2 million in 2019, and USD 680.2 milliion in 2019 and it is expected to reach USD 1192.3 million by 2031 at a CAGR of 9.13% over the forecast period (2024-2031).
The development of offshore structure construction procedures is aided by services in the offshore structural analysis software market. Numerous industries, including oil and gas, government, marine, defense, and power generating, commonly employ them. Due to its advantages, such as giving information on environmental loads and non-linear structural analysis, software tools and services provided by participants in the global offshore structural analysis software market give a dynamic reaction and affect the effect analysis. Additionally, they aid in lowering the risk of failure for numerous offshore constructions. The performance of various offshore structures can be predicted with the help of tools available on the global offshore structural analysis software market.
Global demand for cost-effective offshore engineering, increased interest in green building practices, and rising interest from the oil and gas end-use industry are some of the major factors propelling the market for offshore structural analysis software. The growth of the offshore structural analysis software market is also being influenced by the rise in the demand for effective tools by architects, contractors, and engineers. Additionally, the sector is offering end customers solutions that are far more valuable and effective.
US Offshore Structural Analysis Software Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Software (Cloud Software and On-premise Software)
Fastest Growth
Software (Cloud Software and On-premise Software)
Growth Rate
9.13% CAGR
Global Offshore Structural Analysis Software Market 2022-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
Global Offshore Structural Analysis Software Market Size By Component 2022-2028 ($ Bn)
Global Offshore Structural Analysis Software Market Size By Component 2022-2028 (%)
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Global Offshore Structural Analysis Software Market Segmental Analysis
The Global Offshore Structural Analysis Software Market is segmented based on components, end-use and region. Based on Components the Offshore Structural Analysis Software Market is categorized into Software and Services. The Software segment is further sub segmented into Cloud Software and On-premise Software. The Services segment is further sub segmented into Professional and Managed. Based on End-use the Offshore Structural Analysis Software Market is categorized into Maritime, Oil & Gas, Power Generation, and Government & Defense. Based on region, the Offshore Structural Analysis Software Market is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Offshore Structural Analysis Software Market Analysis by Component
On the basis of components, the software segment is expected to lead the global offshore structural analysis software market over the forecast period.The market for on-premise software is anticipated to be quite appealing. This is mostly caused by the widespread use of on-premise software and the security issues with internet or cloud-based applications. Cloud-based software is anticipated to outperform offshore structural analysis software in terms of CAGR, nevertheless. This is mostly due to an increase in demand from end users, including architects, engineers, contractors, and owners in the oil and gas, maritime, power generation, government, and defense industries, for dynamic, affordable, and efficient offshore structural analysis software.
Global Offshore Structural Analysis Software Market By Component, 2021 (%), 2019 (%)
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Global Offshore Structural Analysis Software Market Regional Insights
Based on the region, the Asia Pacific region currently dominates the global offshore structural analysis software market. Asia Pacific currently dominates the offshore structural analysis software market as a result of the rising need for structures with high maintenance power. The offshore structure analysis software market in the region is also anticipated to grow over the course of the research period as a result of increased investments in the oil and gas sector.
North America is expected to grow significantly over the forecast period. The market for offshore structural analysis software is forecast to develop rapidly, with a CAGR of 5.3% and an anticipated market value of 181.8 million, as a result of the rising awareness of offshore structural analysis software in the region. Because of the presence of important suppliers in the area and technological improvements in offshore projects, the market for offshore structural analysis software in North America is expected to grow. The United States and Canada are the two biggest players in the market for offshore structural analysis software in North America. The market in this area will grow faster than the markets in other areas. Additionally, by reducing the high maintenance and operating costs related to the programme, the growth in cloud-based services is anticipated to hasten the expansion of the offshore structural analysis software market in the region in the upcoming years.
Global Offshore Structural Analysis Software Market By Geography, 2022-2028, 2024-2031
- Largest
- Fastest
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Global Offshore Structural Analysis Software Market Dynamics
Offshore Structural Analysis Software Market Drivers
- Rising demand of offshore structural analysis software services in the oil and gas sector: The International Monetary Fund (IMF) estimates that the global economy grew by 5.9 percent in 2021, and that all regions would do well in 2022. Additionally, by 2026, developing economies like China and India collectively are predicted to account for up to 50% of the world's total oil demand. A crucial differentiator for the worldwide oil and gas business in its rivalry with the global renewable energy sector will be the increased openness in the value chain and efficiency when it comes to using software. By combining wind and gravity load analysis, tools and offshore structural analysis software enable the creation and verification of structural models, ensuring design code compliance. Therefore, during the forecast period, these factors will influence the market.
Offshore Structural Analysis Software Market Restraints
- Insufficiency of digitally skilled personnel: The workforce needs to be capable of using software platforms to create models and designs and evaluate the results of these software solutions. Utilizing software platforms and understanding offshore structures and designs go hand in hand when using offshore structural analysis software. The workforce must be able to evaluate complicated structures using this platform, make appropriate adjustments, and confirm structure and design compliance using offshore structural analysis software first. As a result, a significant obstacle preventing businesses from implementing offshore structural analysis software is the scarcity of workers with combined capabilities for both software platforms and offshore structure analysis. This, in turn, limits the expansion of the industry under consideration.
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Global Offshore Structural Analysis Software Market Competitive Landscape
The market for offshore structural analysis software is moderately fragmented. The provision of solutions and joint ventures are the main drivers of the worldwide offshore structural analysis software market. The development of innovative and effective services is another focus of market participants in the offshore structural analysis software industry.
Offshore Structural Analysis Software Market Top Players Company Profiles
- Bentley Systems Inc.
- DNV GL AS
- AVEVA Group plc
- Wood PLC
- Ramboll Group A/S
- Siemens AG
- ANSYS, Inc.
- MSC Software Corporation
- L&T Technology Services Limited
- SNC-Lavalin Group Inc.
- KBR, Inc.
- Altair Engineering Inc.
- ESI Group
- Nauticus Group
- HCL Technologies Limited
- Hexagon AB
- Civilserve GmbH
- Oceaneering International, Inc.
- Wärtsilä Corporation
- Vard Marine Inc.
Offshore Structural Analysis Software Market Recent Developments
Global Offshore Structural Analysis Software Key Market Trends
- Increasing adoption of cloud computing in offshore structural analysis: When offshore structural analysis is performed using cloud computing technology, the pre- and post-processing tasks are still carried out locally, but the model is delivered to the cloud platform for interpretation, freeing the customer to finish other tasks on their local computers until the results are returned to them. For instance, Bentley Systems offers cloud-enabled offshore structural analysis software (SACS Cloud Services), that facilitates the analysis of large and compute-intensive models on the most recent cloud, employing top-of-the-line technology without wasting desktop bandwidth. These elements will help the market's expansion even more in the coming years.
Global Offshore Structural Analysis Software Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global offshore structural analysis software market is currently led by countries in the Asia Pacific region, due to the rising need for structures with high maintenance power in this region. Along with this, the software segment is projected to lead the market due to the widespread use of on-premise software, over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 586.2 million |
| Market size value in 2031 | USD 1192.3 million |
| Growth Rate | 9.13% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Offshore Structural Analysis Software Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Offshore Structural Analysis Software Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Offshore Structural Analysis Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Offshore Structural Analysis Software Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Offshore Structural Analysis Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Offshore Structural Analysis Software Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Offshore Structural Analysis Software Market Report Snapshots
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