Offshore Structural Analysis Software Market - 3D software helps to build innova

Posted by RASHMI on May 13th, 2019

Offshore structural analysis software helps in construction of offshore structures used in the marine, oil & gas, power generation, government & defense environment. The offshore structural analysis software provides dynamic response & impact effect analysis due to environmental loads and nonlinear structural analysis. It also reduces the risk of offshore structural failure. The software can also predict the offshore structural performance.

The global offshore structural analysis software market has been segmented based on component, end-user industry, and geography. In terms of component, the market is segmented into software and services, where software is further segmented into cloud and on-premise and services is segmented into managed and professional. Based on end-use industry, the market is segmented into maritime, oil and gas, power generation, and government and defense.

The on-premise software segment is expected to have strong market attractiveness. This is primarily due to strong penetration of on-premise software across the world as well as security concerns associated with online or cloud-based software. However, cloud-based software is estimated to hold a high CAGR index for offshore structural analysis software. This is mainly due to increasing demand for dynamic, cost effective, and efficient offshore structural analysis software from end-users such as architects, engineers, contractors, and owners across the oil and gas, marine, power generation, and government and defense industry.

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