Global Offshore Structural Analysis Software Market

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 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.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

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 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. '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.'

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.

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.

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.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

Click here right-arrow
logo-images

Related Reports

Global Offshore Structural Analysis Software Market

Report ID: UCMIG45E2073 | Region: Global | Published Date: February, 2024 | Pages: 165 | Tables: Figures:

Automotive Operating Systems Market
Buy Now GET FREE SAMPLE
Global Offshore Structural Analysis Software Market

Report ID: UCMIR45E2231 | Region: Regional | Published Date: February, 2024 | Pages: 165 | Tables: Figures:

U.S. Social Commerce Market
Buy Now GET FREE SAMPLE
Global Offshore Structural Analysis Software Market

Report ID: SQMIG45E2217 | Region: Global | Published Date: February, 2024 | Pages: 197 | Tables: 61 | Figures: 80

Global Application Hosting Market
Buy Now GET FREE SAMPLE
Global Offshore Structural Analysis Software Market

Report ID: SQMIG45E2153 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 152 | Figures: 78

Global Access Control And Authentication Market
Buy Now GET FREE SAMPLE

Feedback From Our Clients

Global Offshore Structural Analysis Software Market

Product ID: SQMIG45E2182

$5,300
BUY NOW GET FREE SAMPLE