Technology

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

Published

2 years ago

July 29, 2024

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.

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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.

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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

Technology

SMASHIFY LAUNCHES BETA PLATFORM TO REWRITE THE STREAMING EXPERIENCE FOR ARTIST AND FANS

Published

39 minutes ago

April 21, 2026

The Way the World Streams Music Is About to Change

LOS ANGELES, April 21, 2026 /PRNewswire/ — Smashify announced today the launch of its beta music platform, introducing a new approach to streaming designed to create stronger alignment between artists, fans, and platform activity.

Built as a music technology platform, Smashify is focused on developing a more transparent and participatory streaming ecosystem. At the center of the platform is a model designed to better support artists while also recognizing the importance of listeners and fans in driving discovery, engagement, and long-term music value.

According to the company’s model, artists on Smashify are positioned to earn on average up to ten times more than they typically would through conventional streaming platforms. Smashify says this reflects its broader effort to create a more favorable economic structure for music creators in an industry where many artists have long expressed concern over limited payout models.

Smashify also places special emphasis on fans and listeners, which the company considers the most important part of its platform ecosystem. Through its participation model, Smashify is building a system intended to share a portion of company-generated revenue with listeners, recognizing the role fans play in supporting music discovery, engagement, and platform growth.

Rather than limiting value creation to the platform level alone, Smashify is building an ecosystem intended to broaden participation across artists, fans, and digital communities. The company says its beta launch marks the next step in rethinking how music is experienced, supported, and monetized in the digital era.

The platform incorporates blockchain infrastructure as part of its long-term technology framework, with an emphasis on transparency, accountability, and future utility across the Smashify ecosystem. As the company expands, Smashify plans to introduce additional features designed to support platform activity, artist promotion, fan engagement, marketplace functionality, and advertiser participation.

“The next wave of innovation in music will come not only from discovery, but from building stronger economic alignment across the ecosystem,” said 7 Ghosts, the team behind Smashify. “We believe artists deserve better economics, and we also believe fans deserve to be recognized as an essential part of the value chain. Smashify is being built to support both.”

Currently in beta, Smashify is focused on platform rollout, user growth, product development, and strategic expansion. The company says its mission is to build a next-generation music platform that reflects the changing expectations of both artists and audiences in a digitally native economy.

ABOUT SMASHIFY
Smashify is a music technology company developing a streaming ecosystem designed to deepen participation between artists, fans, and digital communities. With a focus on transparency, engagement, and long-term platform innovation, Smashify is building tools and infrastructure intended to support music discovery, artist visibility, user participation, and new forms of value creation within the streaming experience. Headquartered in Panama City, Panama, Smashify is focused on global platform growth and continued product development.

KEEP UP WITH SMASHIFY
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SOURCE Smashify

Technology

TCL Launches its First UltraThin Designer Series Soundbar

Published

39 minutes ago

April 21, 2026

Big Cinematic Sound in a Small Elegant Form

IRVINE, Calif., April 21, 2026 /PRNewswire/ — TCL®, one of the world’s best‑selling consumer electronics brands, is redefining how great sound looks at home with the launch of its first UltraThin Designer Series Soundbar, the TCL A65K. A perfect match for TCL slimmest TVs, the A65K delivers room‑filling 3.1.2 Dolby Atmos® sound in a low-profile design that blends seamlessly into any space.

At just 50mm (less than 2-inches) thin, the TCL A65K was designed alongside TCL UltraThin TVs, to deliver a punch from a sleek, minimalist aesthetic. It sits flush beneath the screen, creating a clean, modern look that enhances your décor instead of competing with it. No visual clutter, just a perfectly matched pairing of picture and sound.

“To address the growing demand for sound systems that combine harmonized aesthetics with immersive sound, TCL created the new Designer Series A65K Soundbar,” said Scott Ramirez, Vice President of Product Marketing and Development, TCL North America. “TVs are meant to be seen, while soundbars are meant to be heard. So, the A65K is designed to put you in the movie with room-filling sound, yet you’ll forget it’s even there.”

Don’t let the UltraThin design fool you. Inside the A65K is a powerful 3.1.2‑channel Dolby Atmos system with nine speakers, including up‑firing drivers that push sound above and around you for a truly immersive experience. From explosive action scenes to quiet dialogue, the A65K fills the room with rich, detailed audio while keeping your living space open and stylish. Acoustically tuned with Audio by Bang & Olufsen, the A65K delivers premium sound quality, clarity, and balance typically found in much larger systems. With its wireless subwoofer and auto room calibration, you get cinematic sound without sacrificing simplicity.

With the A65K, TCL brings together bold audio performance and minimized décor-oriented design – creating a soundbar that looks as good as it sounds.

TCL A65K Designer Series Dolby Atmos Soundbar – “The Art of Sound”

NEW 3.1.2 Channel System with 9 speakers and 240W peak powerNEW UltraThin Depth DesignBuilt-in Center Channel SpeakerUp-Firing Atmos DriversWireless SubwooferChorusSoundDolby Atmos & DTS:XAi Sonic Auto Room CalibrationDialog EnhancerHDMI 2.0TCL TV ReadyCustom three-way acoustic architecture with racetrack drivers and honeycomb diaphragm technologyAudio by Bang & Olufsen

The TCL A65K Designer Series Soundbar is available now for $699.99 MSRP on Amazon and at Best Buy.

About TCL
TCL Electronics specializes in the research, development and manufacturing of consumer electronics including TVs, mobile phones, audio devices, smart home products and appliances. Combining thoughtful design and innovative technology to inspire greatness, our lineup delivers must-have features and meaningful experiences. As one of the world’s largest consumer electronics brands, our vertically integrated supply chain, and state-of-the-art display panel factory help TCL deliver innovation for all.

For additional product information, please visit www.tcl.com for the full portfolio.

TCL is a registered trademark of TCL Corporation. All other trademarks used herein are the property of their respective owners.

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SOURCE TCL North America

Technology

Johnny Lieberman of Harbor IT named Entrepreneur Of The Year® 2026 New York finalist by EY US

Published

39 minutes ago

April 21, 2026

NEW YORK, April 21, 2026 /PRNewswire/ — Johnny Lieberman, founder and CEO of Harbor IT, has been named a finalist for the Entrepreneur Of The Year 2026 New York Award by Ernst & Young LLP (EY US). Now in its 41st year, the Entrepreneur Of The Year program celebrates the bold leaders who disrupt markets through the world’s most ground-breaking companies, revolutionizing industries and uplifting communities. The program honors entrepreneurs whose innovations drive economic growth and help shape the future of business.

An independent panel of judges selected Johnny among 33 finalists based on their entrepreneurial spirit, purpose, company growth and lasting impact in building long-term value.

“We set out to build Harbor differently than everyone else building at our scale – one fully integrated company, with real specialization and technical depth that most MSPs weren’t willing to build. Cyber-first, focused on the customers that are hardest to serve: multi-site healthcare providers who can’t afford a clinical system going down; manufacturers dealing with OT and CMMC; PE-backed companies going through rapid change. These customers need specialists who’ve actually done the hard work and understand these complex environments. Most MSPs have shied away. We’ve leaned in. And none of it is possible without the almost 400 people who show up every day – the engineers, the founders who joined us and never left, and every person who chose Harbor and helped us build something none of us could have built alone. Our mission hasn’t changed: go where it’s hardest. If we can solve those problems, we can solve anything,” said Johnny Lieberman, founder and CEO of Harbor IT.

Harbor IT is a cyber-first managed services provider delivering integrated IT, cybersecurity, AI, and cloud solutions for organizations with complex, critical, and compliance-driven technology environments. Founded and led by CEO Johnny Lieberman, Harbor was built through a differentiated approach: raising $50 million from a curated network of entrepreneurs and business owners to create an operator-led alternative to traditional private equity rollups. Through nine strategic acquisitions, Harbor has been fully integrated into a single operating platform with a unified product line, including its own US-based SOC and proprietary MXDR platform. Harbor serves midmarket customers predominantly through three specialized vertical practices: private equity portfolio companies, critical infrastructure, and healthcare, each defined by complex operational, regulatory, or security requirements. With nearly 400 employees across 40 states, Harbor supports customers nationwide as their trusted technology partner.

For more information about Harbor IT, visit harborit.com.

Entrepreneur Of The Year honors business leaders for their ingenuity, courage and entrepreneurial spirit. The program celebrates original founders who bootstrapped their business from inception or who raised outside capital to grow their company, transformational CEOs who infused innovation into an existing organization to catapult its trajectory, and multigenerational family business leaders who reimagined a legacy business model to strengthen it for the future.

This year’s New York finalists represent New York and Connecticut across all industries, including technology, consumer products, manufacturing, finance life, sciences and more.

Regional award winners will be announced on June 16 during a special celebration in Manhattan and will become lifetime members of an esteemed community of Entrepreneur Of The Year alumni from around the world. The winners will then be considered by the national judges for the Entrepreneur Of The Year National Awards, which will be presented in November at the annual Strategic Growth Forum®, where high-growth CEOs, Fortune 1000 executives and investors converge to shape the future of business.

Sponsors
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards include presenting sponsors PNC Bank, Cresa, LLC, Marsh USA, SAP, and the Ewing Marion Kauffman Foundation. In New York, sponsors also include regional Platinum sponsor Donnelley Financial Solutions (DFIN), regional Gold sponsors ADP and DLA Piper, and regional Silver sponsor Stagedge.

About Entrepreneur Of The Year®
Founded in 1986, Entrepreneur Of The Year® has celebrated more than 11,000 ambitious visionaries who are leading successful, dynamic businesses in the US, and it has since expanded to nearly 80 countries and territories globally.

The US program consists of 17 regional programs whose panels of independent judges select the regional award winners every June. Those winners compete for national recognition at the Strategic Growth Forum® in November where national finalists and award winners are announced. The national overall winner represents the US at the World Entrepreneur Of The Year® competition. Visit ey.com/us/eoy.

About EY
EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets. Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow. EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories All in to shape the future with confidence.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

About Harbor IT
Harbor IT is a cyber-first managed service provider delivering integrated IT, cybersecurity, AI and cloud solutions for complex, critical, and compliance-driven organizations nationwide.

Media Contact
Maya Adelstein
Maya.Adelstein@HarborIT.com

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SOURCE Harbor IT