NEW YORK, July 29, 2024 /PRNewswire/ -- The global offshore structural analysis software market size is estimated to grow by USD 542.5 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 10.03% during the forecast period. Increasing demand from the oil and gas industry is driving market growth, with a trend towards advent of cloud computing technology in offshore structural analysis. However, lack of workers with digital skills poses a challenge. Key market players include AVL List GmbH, Bentley Systems Inc., BMT Group Ltd., Dlubal Software Inc., DNV Group AS, Dogtooth Technologies Ltd., Energid Technologies Corp., FFRobotics, Harvest CROO Robotics LLC, Iron Ox Inc., John Wood Group PLC, MetoMotion, Panasonic Holdings Corp., Ramboll Group AS, Robert Bosch GmbH, Stewart Technology Associates, Viking Systems Inc., Vision Robotics Corp., and Zebec Marine Consultant and Services.

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Market Driver

The offshore structural analysis software market is witnessing a significant trend with the adoption of cloud computing technology. Traditionally an on-premises offering, offshore structural analysis software is now being delivered via cloud platforms. This shift enhances computing capacity by granting customers access to the processing power of multiple high-end machines. Pre- and post-processing tasks are still performed locally, but the model is sent to the cloud for analysis, enabling users to complete other tasks on their local machines until results are transmitted back. Bentley Systems' SACS Cloud Services is an example of cloud-enabled offshore structural analysis software. It allows the analysis of large and compute-intensive models using the latest cloud version and high-end hardware without straining desktop bandwidth. Simultaneous execution of multiple analyses is possible, increasing productivity and reducing time. Cloud computing services offer several benefits for offshore structural analysis. Users can access the application from any device connected to the internet, eliminating the need to store analysis data on their devices. Hardware with high performance is no longer necessary as all calculations are performed in the cloud. Sharing calculation models with colleagues is simplified, and installation, update, maintenance, and compatibility issues are eliminated. Best resource allocation and a pay-per-use facility ensure cost efficiency. 

The Offshore Structural Analysis Software market is experiencing significant growth due to increasing demand from the maritime industry, particularly in sectors like oil and gas, power generation, and defense. Key trends include the use of skidding systems and tension decks for offshore installation. End users, including architects and engineers, require advanced software to analyze offshore structures under extreme weather conditions and environmental loads. Cloud-based software and deployment services are gaining popularity for their flexibility and cost-effectiveness. Financial performance and performance prediction are crucial factors for investment expenses. Ground-level workers benefit from software that can handle nonlinear structural analysis and predict offshore structural failure. Subsea platforms, protecting structures, and drilling templates are other areas of focus. Physical space constraints and remote locations necessitate advanced solutions. Technical development continues with on-premise software and managed services, offering customized solutions for various industries. Offshore structures in marine environments face unique challenges, and software must provide accurate information on environmental loads and performance under extreme conditions. Overall, the market is expected to continue growing as offshore structures become increasingly complex and critical to various industries. 

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Market Challenges

• The global offshore structural analysis market faces a significant challenge due to the shortage of a digitally skilled workforce capable of effectively operating offshore structural analysis software. Companies require a workforce familiar with software platforms for building models and designs, as well as analyzing the outcomes of these solutions. The ability to use connected systems and integrated software applications is essential for analyzing, designing, and simulating the response of complex offshore structures and vessels. However, the lack of workers with combined skills in both software platforms and offshore structure analysis is a major hindrance to market growth. To effectively use offshore structural analysis software, workers must be knowledgeable in areas such as nonlinear structural analysis, dynamic response analysis due to environmental loads, impact effects analysis, and severe accidental loadings analysis. For instance, analyzing the setup of an offshore structure like a wind turbine using offshore structural analysis software necessitates an understanding of the software platform to explore design options, comprehend behavior, and accurately predict the structural performance of offshore wind farm platforms. Consequently, the absence of a skilled workforce with a combined understanding of software platforms and offshore structures is a significant barrier to market expansion during the forecast period.
• The Offshore Structural Analysis Software Market faces unique challenges in the maritime industry. Key challenges include analyzing complex structures like skidding systems and tension decks for offshore oil and gas platforms and subsea platforms. End users in defense, maritime, power generation, and government sectors require software to protect structures from extreme weather conditions, environmental loads, and physical space constraints in remote locations. Offshore structural analysis software must cater to architects and engineers, providing cloud-based and on-premise solutions, managed services, and professional services. Financial performance and initial investment are crucial considerations, with nonlinear structural analysis essential for predicting performance and preventing offshore structural failure. Cloud-based software deployment and cloud-based computing offer flexibility, while deployment services ensure seamless integration. Power production platforms and drilling templates require specialized analysis. Ground-level workers need user-friendly software to effectively manage and mitigate risks. Market players must address the challenges of managing large amounts of data related to marine, offshore structures, and environmental loads information. Technical development and investment expense are ongoing priorities for companies in this market.

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Segment Overview 

This offshore structural analysis software market report extensively covers market segmentation by  

1. End-user 
   • 1.1 Oil and gas
   • 1.2 Maritime
   • 1.3 Power generation
   • 1.4 Government and defence
2. Geography 
   • 2.1 North America
   • 2.2 Middle East and Africa
   • 2.3 Europe
   • 2.4 APAC
   • 2.5 South America

1.1 Oil and gas-  The Offshore Structural Analysis Software Market is experiencing significant growth due to increasing offshore oil and gas exploration activities. Companies are investing in advanced software solutions to design and analyze offshore structures for improved safety, efficiency, and cost savings. These software tools enable engineers to simulate various environmental conditions, perform structural analyses, and optimize designs in a virtual environment. This results in reduced physical testing, faster time-to-market, and enhanced operational excellence. Market leaders include Siemens, ABS, and DNV GL, offering comprehensive solutions to cater to the evolving needs of the industry.

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Research Analysis

The Offshore Structural Analysis Software market caters to the design, analysis, and optimization of offshore structures used in various industries such as Marine, Oil and Gas, Power Generation, Government and Defense. These structures include subsea platforms, offshore wind turbines, and other marine constructions. The software helps architects and engineers to analyze and predict the performance of offshore structures under extreme weather conditions, environmental loads, and physical space constraints. It utilizes nonlinear structural analysis to account for complex loading scenarios and potential offshore structural failure. End customers include maritime industries, defense organizations, and government agencies. Cloud-based computing enables easy access to environmental loads information and allows for real-time performance prediction. Ground-level workers and engineers benefit from the software's ability to protect structures and ensure safety in remote locations. The initial investment in offshore structural analysis software can be high, but the long-term benefits in terms of improved design, reduced construction costs, and increased operational efficiency make it a valuable investment.

Market Research Overview

The Offshore Structural Analysis Software market caters to the design, analysis, and optimization of offshore structures used in various industries such as Marine, Oil and Gas, Power Generation, Government and Defense, and Environmental loads assessment. This software is essential for architects and engineers to ensure the structural integrity of offshore platforms, drilling templates, skidding systems, tension decks, and subsea protecting structures under extreme weather conditions and physical space constraints. The market offers both cloud-based and on-premise solutions, along with deployment services, managed services, and professional services. End users include maritime, defense, architects and engineers, and power production companies. The investment expense for offshore structural analysis software includes the initial investment for the software and ongoing costs for technical development and performance prediction. The software helps in analyzing nonlinear structural behavior, predicting offshore structural failure, and providing environmental loads information to ensure financial performance and safety for ground-level workers.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• • Oil And Gas
  • Maritime
  • Power Generation
  • Government And Defence
• Geography
• • North America
  • Middle East And Africa
  • Europe
  • APAC
  • South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio