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Offshore Structural Analysis Software Market By Component (Software, Services), By End-use (Maritime, Oil & Gas, Power Generation, Government & Defence) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

Growing Oil & Gas Market to Boost the Growth of Offshore Structural Analysis Software Market

The offshore structural analysis software market worldwide is expected to grow with a CAGR of 6.4% during the forecast period from 2019 to 2027, starting from US$ 450.8 Mn in 2018. The growth of the oil & gas industry and increasing demand for cost-effective offshore worldwide are driving the offshore structural analysis software market. In addition, the growing demand for software by engineers, contractors, and architects has led the market growth. Furthermore, 3D designing, estimation & planning for the projects and others are some of the significant benefits of offshore structural analysis software, which drive the market's growth. Thus, we expect the offshore structural analysis software market to show substantial growth during the forecast period.

Market Synopsis

Oil & Gas Segment to Continue Leading the Market

The offshore structural analysis software market by application was led by the oil & gas segment in 2018. The segment has the largest revenue share, with a contribution of around 40% in the same year. The oil & gas industry will grow at a CAGR of around 7% in years to come. The rising oil & gas industry is the major reason for the growth of the segment. In addition, a growing number of oil & gas projects worldwide are helping the segment to grow. As a result, we expect the oil & gas segment to continue its dominance throughout 2019-2027.

The Asia Pacific to Continue Leading the Market

In 2018, Asia Pacific led the offshore structural analysis software market. The Asia Pacific contributes around 35% of the revenue share in the same year. The rising oil & gas industry, growing investments for offshore projects, and others are the major reasons for the growth of the region. China and India will be the major contributor to the development of the Asia Pacific offshore structural analysis software market. Growing government investments for offshore projects in the aforementioned countries are the major reason for their contribution. Therefore, we expect the Asia Pacific to continue leading the offshore structural analysis software market throughout the forecast period.

Some of the prominent players operating in the offshore structural analysis software market are DNV GL AS, John Wood Group PLC, Ramboll group A/S, Stewart Technology Associates, Viking Systems, Inc., Zebec Marine Consultants and Services, Dlubal Software GmbH, Baker Engineering & Risk Consultants Inc., BMT Group Ltd., Bentley Systems Inc. among others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The offshore structural analysis software market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global offshore structural analysis software market based on component, end-use, and geography.

Frequently Asked Questions:

The market for Offshore Structural Analysis Software is expected to reach US$ XX by 2027.

The Offshore Structural Analysis Software market is expected to see significant CAGR growth over the coming years, at 6.4%.

The report is forecasted from 2019-2027.

The base year of this report is 2021.

DNV GL AS, John Wood Group PLC, Ramboll group A/S, Stewart technology Associates, Viking Systems, Inc., Zebec Marine Consultants and Services, Dlubal Software GmbH, Baker Enginnering & Risk Consultants Inc. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Nov 2019
Category:  Oil & Gas
Report ID:   60065
Report Format:   PDF
Pages:   120
Rating:    4.2 (66)
Delivery Time: 24 Hours to 48 Hours   
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