Global Offshore Structural Analysis Software Market

Offshore Structural Analysis Software Market Size, Share, Growth Analysis, By Component(Software (Cloud, and On-premises), and Services (Professional, and Managed)), By End-use Industry(Maritime, Oil & Gas, Power Generation, Government & Defense), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45E2182 | Region: Global | Published Date: October, 2024
Pages: 165 | Tables: 65 | Figures: 75

Offshore Structural Analysis Software Market News

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Global Offshore Structural Analysis Software Market size was valued at around USD 637.20 million in 2022 and is expected to rise from USD 674.79 million in 2023 to reach a value of USD 1067.43 million by 2031, at a CAGR of 5.9% 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. 'Zebec Marine Consultants and Services Pvt Ltd (India) ', 'Abundant Robots, Inc. (USA) ', 'WAX, Inc. (USA) ', 'Stewart Technology Associates (USA) ', 'AvL Motion BV (Netherlands) ', 'John Wood Group PLC (UK) ', 'Dlubal Software GmbH (Germany) ', 'Dogtooth Technologies Limited (UK) ', 'Energid Technologies Corporation (USA) ', 'BMT Group Ltd (UK) ', 'Bentley Systems Inc. (USA) ', 'ANSYS, Inc. (USA) ', 'Siemens AG (Germany) ', 'Autodesk, Inc. (USA) ', 'MathWorks, Inc. (USA) ', 'DSI (Dynamic Systems, Inc.) (USA) ', 'LUSAS (UK) ', 'SAP2000 (Computers and Structures, Inc.) (USA) ', 'SACS (Bentley Systems) (USA) ', 'Dlubal Software (Germany)'

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.

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Global Offshore Structural Analysis Software Market

Report ID: SQMIG45E2182

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