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Offshore Structural Analysis Software Market size is set to grow by USD 542.5 million from 2024-2028, Increasing demand from the oil and gas industry boost the market, Technavio

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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.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Offshore Structural Analysis Software Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 10.03%

Market growth 2024-2028

USD 542.5 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.88

Regional analysis

North America, Middle East and Africa, Europe, APAC, and South America

Performing market contribution

North America at 55%

Key countries

US, Saudi Arabia, Russia, China, and Canada

Key companies profiled

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

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  

End-user 1.1 Oil and gas1.2 Maritime1.3 Power generation1.4 Government and defenceGeography 2.1 North America2.2 Middle East and Africa2.3 Europe2.4 APAC2.5 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.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

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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-userOil And GasMaritimePower GenerationGovernment And DefenceGeographyNorth AmericaMiddle East And AfricaEuropeAPACSouth 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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In 75 years, China has become increasingly prominent in driving global development: Global Times editorial

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BEIJING, Sept. 29, 2024 /PRNewswire/ — The 75th anniversary of the founding of the People’s Republic of China is a momentous occasion, not only for the over 1.4 billion Chinese people but also with global significance and historical importance. 

Over these 75 years, the journey of Chinese modernization has profoundly transformed China and influenced the world, truly realizing that “our work will be written in the annals of human history.” 

This year also marks the 70th anniversary of the Five Principles of Peaceful Coexistence. Amid a changing international landscape, China has steadfastly maintained an independent and peaceful foreign policy, upholding international fairness and justice. As China increasingly approaches global center stage, it continues to make new and greater contributions to the cause of peace and development for humanity.

Seventy-five years ago, when this ancient nation in the East opened a new chapter in its history, the world was just beginning to recover from the devastation of two wars. From a struggling agricultural country, China has evolved into the world’s second-largest economy, the world’s leading manufacturing power, the top trader of goods, and the holder of the largest foreign exchange reserves. This historical elevation in national strength matches China’s significant contributions to global development. 

From 1979 to 2023, China’s average annual contribution to global economic growth reached 24.8 percent, with an average of over 30 percent from 2013 to 2023. For 12 consecutive years, China’s outbound direct investment in foreign countries has ranked among the top three globally, holding over 10 percent of the global share for eight years. China’s “new three items” – electric vehicles, lithium-ion batteries, and solar cells – are facilitating the globe to accelerate their green and low-carbon transitions, while its infrastructure projects span over 190 countries and regions worldwide. Today, averagely speaking, China engages in approximately 80 million yuan ($11.4 million) worth of trade with the world every minute, invests approximately 112 million yuan abroad every hour, and attracts about 3.377 billion yuan in foreign investment daily. The development of China is intricately linked with global progress, achieving mutual success, and driving the world toward greater progress and prosperity.

A great nation with over 5,000-year-old civilization stands majestically in the East, as over 1.4 billion people stride forward on the path to modernization. Such a vast scale itself is one of the main powerful driving forces for the progress of the entire world and human society. The practices of Chinese modernization teaches us that development is the key to solving all problems. China has proposed the Global Development Initiative to support the development and revitalization of countries in the Global South. By the end of 2023, China’s direct investment in countries participating in the Belt and Road Initiative had exceeded $300 billion. Chinese companies have built the first ultra-high voltage direct current transmission line in the Americas, the first electrified railway, the first digital mine, and numerous infrastructure and livelihood projects in Africa, making an indelible contribution to global infrastructure construction.

From “seek knowledge even if you have to go as far as China” to “seek peace even if you have to go as far as China,” peace is a valuable public good that China offers to a turbulent world. Over the past 75 years, China has never initiated any war or conflict and has never occupied an inch of another country’s territory. In the face of numerous international security challenges, China has proposed the Global Security Initiative. It has mediated the reconciliation between Saudi Arabia and Iran, facilitated a historic reconciliation among Palestinian factions, and promoted a political resolution to the crisis in Ukraine. Today, China has become the second-largest contributor to the UN regular budget, the second-largest contributor to peacekeeping operations, and the largest troop-contributing country among the permanent members of the UN Security Council. China has always been committed to promoting world peace and development.

To leave behind achievements worthy of being engraved in world history, a nation and its people must not only be judged by their material accomplishments but also by the amount of spiritual wealth they have contributed. The latter often holds more profound significance than the former. 

In today’s world, where the destinies of nations are closely intertwined, China has proposed the Global Civilization Initiative, advocating cultural exchanges that transcend estrangement, mutual learning that transcends clashes, and coexistence that transcends feelings of superiority. It addresses significant questions, such as how different civilizations can coexist and where human civilization is headed, offering Chinese wisdom and solutions to promote cultural exchanges and the advancement of human civilization.

Over the past 75 years, China has demonstrated an uncommon empathy in the political arena of major powers throughout human history. From proposing the Five Principles of Peaceful Coexistence, emphasizing equality and non-interference in other countries’ internal affairs, to the new era’s initiatives like jointly building the Belt and Road Initiative, building a community with a shared future for mankind, and the promotion of solidarity and cooperation among the Global South, China has advocated that the sovereignty of all countries are equal regardless of size on global arena while showing respect and support for the development of other countries. 

China has provided the worldview of “shared future” and the methodology of “jointly building and win-win cooperation” for all mankind. This is rare in the history of human civilization and is urgently needed in today’s world. 

The 75-year journey through challenges has underscored the invaluable role China plays in global peace, development and progress. The modernization China has promoted, which embodies justice, openness, mutual benefit, people-first policies, diversity, inclusiveness, eco-friendliness, and peace and security, will only become more significant and valuable to the world as time progresses.

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SOURCE Global Times

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Xinhua Silk Road: Research project on sustainable development of agriculture and animal husbandry launched with support from Chinese dairy giant Mengniu

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BEIJING, Sept. 29, 2024 /PRNewswire/ — With support from Mengniu public welfare foundation set up by Chinese dairy giant Inner Mongolia Mengniu Dairy (Group) Co., Ltd., China Economic Information Service recently established a research group to carry out studies on how the ecological protection compensation mechanism and the mechanism for realizing the value of ecological products can promote sustainable development of agriculture and animal husbandry.

The research group will first sort out relevant policies and theories on the topic.

Field visits and research then will be conducted in key regions of agriculture and animal husbandry development nationwide. The research group will identify prominent problems that arise in local practices where the two mechanisms are adopted to boost sustainable development of agriculture and animal husbandry and analyze specific causes. The group will also create hypotheses about combining the ecological protection compensation mechanism and the ecological product value realization mechanism to propel agriculture and animal husbandry sustainability.

Finally, the researchers will compile a report based on research results and put forward suggestions.

Founded in 2022, the Mengniu public welfare foundation carry out public welfare and charity activities mainly related to emergency and disaster relief, rural revitalization, nutrition empowerment, and ecological protection.

Original link: https://en.imsilkroad.com/p/342397.html

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SOURCE Xinhua Silk Road

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Global Times: Chinese youth increasingly embrace, share millennia-old cultural traditions

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BEIJING, Sept. 29, 2024 /PRNewswire/ — Li Ziyao, a young Chinese student studying in Boston, the US, recently completed Black Myth: Wukong, a game playing based on the classic Chinese novel Journey to the West.

He was excited that this game, rich in traditional cultural elements, has become a sensation in America too. As he observed his American classmates discussing the Monkey King, the architectural styles, and Chinese history, a strong sense of pride surged within him.

“I am witnessing firsthand how Chinese culture is being spread and understood globally in a novel and modern way,” Li told the Global Times.

Culture plays a vital role in inspiring national spirit, maintaining identity, and promoting both economic and personal development.

China’s achievements over the past 75 years are closely tied to its millennia-old culture and cultural confidence. Generations of young people with strong values and ethics worked to develop Chinese culture and present it to the world. 

Chinese civilization has thrived along with the open expression of young people. They relish and discuss with foreign friends China’s traditional culture, allowing it to resonate with international audiences. 

In ancient times, Chinese ancestors sailed the seas along the historical Maritime Silk Road, spreading Chinese culture toward the rest of the world.

Today, young people, especially Generation Z, are using unique ways to share Chinese culture with the world.

Set new trend

Li mentioned that one of the American Twitch streamers he follows, Zack, also known as Asmongold, a content creator with over 2.9 million YouTube subscribers, once commented that Chinese mythology has a natural freshness for Western players, sparking their desire to explore the unknown.

The cultural elements carried by Black Myth: Wukong are also reflected in its music. The game incorporates traditional Chinese melodies from the 1986 hit TV series Journey to the West soundtrack, including the iconic track Celestial Symphony in key scenes.

“Hearing Celestial Symphony evokes me an indescribable feeling of nostalgia. One of my American classmates told me that the music made him feel as if he were immersed in a world filled with the charm of ancient Eastern culture,” Li noted.

With the international success of Celestial Symphony, Li has noticed that many of his classmates have expressed their desire to learn traditional Chinese musical instruments, especially pipa, which embodies unique Chinese aesthetics.

In a recent interview, US musician Lauv commented on the beauty of pipa, while interacting with young pipa player Liu Jialiang, also known as Marsix.

During the interview, Marsix used pipa to perform Lauv’s breakout hit I Like Me Better. Lauv, who is also known as Ari Staprans Leff, is followed by more than 1 million fans on the platform known as X. 

The instrument’s sound, representing Chinese aesthetics, stunned the Western singer and left him with a look of amazement. Marsix’s performance has also revealed how the 2,000-year-old instrument remains versatile in playing global pop music. 

“I was thrilled to share our traditional music culture again,” the young player told the Global Times. He also emphasized that his journey with pipa has always been about “fusion.”

Since 2022, Marsix has been posting remixed pipa music that blends traditional Chinese melodies with Western genres like jazz, hip-hop, and electronic music. 

Through his fusion of traditional Chinese music, Marsix has captured the attention of international fans. On YouTube, netizens commented on Marsix’s performance, saying “the Chinese ‘guitar’ would set a new trend.” 

“I think the traditional instrument is a tool for us young Chinese musicians to express our open-mindedness to world music,” Marsix noted. 

Confident in his cultural roots, the young Chinese musician has also inspired many young fans in China to rediscover the beauty of traditional Chinese music. Marsix told the Global Times that most of his fans are in their 20s, and he hopes to guide them on a journey of rediscovering Chinese culture.

“In the past, the word ‘pipa’ would evoke images of classical performers, but now it represents a trendy instrument played by performers of all ages and genders. Young Chinese musicians are using their creativity to revive the tradition,” Zhu Xiao, a Chinese folk music fan and cucurbit flute player, told the Global Times. 

Dressed in confidence

For many in Generation Z, wearing Hanfu – traditional Chinese dress – is just like playing pipa as a way to reconnect with the cultural root and also a way to express cultural confidence.

Driven by strong curiosity about the world, Chinese storyboard artist Lei Yumeng, better known as Mi Lei, travels between reality and fantasy in her storyboard work. Nearly every piece of work she posts on social media becomes a hit. So far, the Chinese artist has more than 8 million followers on different platforms.

Lei’s love for Chinese culture extends to her admiration for Hanfu. She told the Global Times that through her paintings of Hanfu from various dynasties, she can explore the aesthetics and auspicious intentions of ancient Chinese people, as reflected in the clothing’s patterns and embroidery.

Lei’s embrace of Chinese cultural heritage has been recognized internationally, with her videos on platforms like Instagram earning praise for showcasing traditional clothing. This global appreciation has been a reminder of the richness of her motherland’s unique cultural roots, which she said she “has initially taken for granted.”

Lei said her work in animation and storytelling is a celebration of China’s cultural legacy, a legacy she is “proud to share with the world.”

 

View original content:https://www.prnewswire.com/news-releases/global-times-chinese-youth-increasingly-embrace-share-millennia-old-cultural-traditions-302262003.html

SOURCE Global Times

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