According to a new market report published by Transparency Market Research, the global offshore structural analysis software market is projected to reach US$ 818.1 Mn by 2026. The market is expected to expand at a CAGR of 6.3% during the forecast period from 2018 to 2026. Furthermore, software is expected to account for highest market share in the year 2018 due to rising demand for cloud based engineering software that provides greater ease, storage, and security. Asia Pacific is anticipated to lead the global offshore structural analysis software market during the forecast period, followed by North America, Europe, Middle East & Africa, and South America.
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Global Offshore Structural Analysis Software Market: Scope of the Report
The global offshore structural analysis software market has been segmented based on component, end-use industry, and geography. Based on component, the market is segmented into software and services.
Asia Pacific led the global offshore structural analysis software market, accounting for substantial share in 2017.China is the major market for offshore structural analysis software in the region. Offshore structural analysis software is also gaining popularity in other Asian countries such as Indonesia and South Korea.The market in North America, Europe, Middle East & Africa, and South America is expected to expand at a rapid pace during the forecast period.