The offshore structural analysis software global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Offshore Structural Analysis Software Market, 2024report by The Business Research
Company offers comprehensive insights into the current state of the market and
highlights future growth opportunities.
Market Size - The offshore structural analysis software market size has grown
strongly in recent years. It will grow from $0.65 billion in 2023 to $0.7
billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in
the historic period can be attributed to fluctuations in oil prices, shifts in
regulations governing offshore activities, global economic conditions, environmental
concerns, and energy demand.
The offshore structural analysis software market size is expected to see strong
growth in the next few years. It will grow to $0.94 billion in 2028 at a
compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period
can be attributed to shifts towards renewable energy sources, climate change
mitigation policies, changes in geopolitical relationships, economic recovery,
and supply chain resilience. Major trends in the forecast period include
digital twin technology, cloud-based solutions, 3D visualization, machine
learning and AI integration.
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Scope Of Offshore Structural Analysis Software MarketThe Business Research
Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Offshore Structural Analysis Software Market Overview
Market Drivers -The increasing demand for renewable energy sources is expected
to propel the growth of the offshore structural analysis software market going
forward. Renewable energy sources are natural resources that can be replenished
indefinitely, such as solar, wind, hydro, geothermal, and biomass. There is
increasing demand for renewable energy sources due to concerns about climate
change, energy security, and the declining costs of renewable technologies.
Offshore structural analysis software is crucial for optimizing the design and
safety of renewable energy installations, particularly in offshore
environments. For instance, in May 2022, according to the International Energy
Agency (IEA), a France-based autonomous intergovernmental organization, the
annual renewable capacity additions broke a new record in 2021, increasing by
6% to reach 295 GW. Furthermore, renewables are predicted to make up nearly 95%
of the augmentation in global power capacity by 2026. Therefore, the increasing
demand for renewable energy sources is driving the growth of the offshore
structural analysis software market.
Market Trends - Major companies operating in the offshore structural analysis
software market are focused on forming strategic partnerships to gain a
competitive edge in the market. Strategic partnerships refer to collaborative
relationships formed between two or more entities to achieve mutually
beneficial goals that align with their strategic objectives. For instance, in
May 2023, Akselos, a Switzerland-based provider of unique structural
performance management software, partnered with BEPA A/S, a Denmark-based
engineering consultancy company, to advance wind turbine design and operations.
The partnership was aimed to leverage Akselos' patented reduced basis finite
element analysis (RB-FEA) technology, developed over 10 years at MIT, to
enhance wind asset designs and performance. The collaboration begins with
exploring RB-FEA's potential in the wind industry. The technology revolutionizes
the approach to floating offshore wind design engineering by providing a more
efficient process. RB-FEA allows designers to utilize a single, comprehensive
model and mesh for the entire structure, facilitating quicker simulations and
ensuring enhanced structural integrity.
The offshore structural analysis software market covered in this report is
segmented –
1) By Components: Service, Software
2) By Offshore Structure Type: Compliant Towers, Gravity Base, Shallow Water
Complex
3) By Deployment Method: Cloud, On-Premise Platforms
4) By End Use: Oil And Gas, Power Generation, Maritime, Government and Defence,
Other End Use
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Regional Insights - Asia-Pacific was the largest region in the offshore
structural analysis software market in 2023. The regions covered in the
offshore structural analysis software market report are Asia-Pacific, Western
Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies - Major companies operating in the offshore structural analysis
software market are Siemens AG, KBR Inc., Hexagon AG, John Wood Group PLC, DNV
GL AS, ANSYS Inc., Oceaneering International Inc., Ramboll Group A/S, AVEVA
Group plc, Bentley Systems Inc., L&T Technology Services Limited, BMT
Group, Dlubal Software GmbH, Iron Ox Inc., Vard Marine Inc., Zebec Marine
Consultant and Services, Stewart Technology Associates, Lonadek Global
Services, Energid Technologies Corporation., SAFI Quality Software Inc., Viking
Systems International, CAPFOS Inc., Orcina Ltd., SkyCiv Engineering
Table of Contents 1. Executive Summary2. Offshore Structural Analysis Software
Market Report Structure3. Offshore Structural Analysis Software Market Trends
And Strategies4. Offshore Structural Analysis Software Market – Macro Economic
Scenario5. Offshore Structural Analysis Software Market Size And Growth…..27.
Offshore Structural Analysis Software Market Competitor Landscape And Company
Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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