Global Geotechnical Design Software Market is expected to Grow at a CAGR of 15.01% Over the Forecast Period, Owing to Increasing Demand for Efficient Design of Foundations among End-Users, says Absolute Markets Insights
Geotechnical design softwares are designed to deal with geotechnical issues such as slope stability, seismic analysis, foundations and others. These softwares help in analyzing the behavior of rock slopes, soil structure before laying foundation and help evaluate the instability of the rocks affected by seismic movements or presence of water pressure within the intersurface. The design of a foundation plays a crucial role in determining the stability and longevity of a structure. This function is highly specialized in nature and requires a fundamentally skilled structural designer. Extensive study of ground below the foundation, along with other factors such as materials used, load bearing, etc., needs to be performed below designing foundations. This is driving the need of geotechnical design software market.
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Over the years, technological solutions that assist in geotechnical design has gained popularity, predominantly due to the rising demand for managing the design and implementation of various structures. The U.S. mining industry plays a prominent role in driving the economy. The industry contributed around US$ 375.50 billion during the period 2005-2020, on an average, and it has reached a peak revenue of US$ 513.30 billion in the third quarter of 2019. Various engineering, hydrological and geological tests are performed by mining engineers to optimize mining operations, and ensure safety of miners and geotechnical structures. The mining companies are increasingly relying on cloud-based solutions for mining management. Rocscience Inc., for instance, provides 2D and 3D geotechnical software which is aimed at the civil engineering and mining sector. The software has added functionality for both underground and surface excavations. It helps in the analysis of factors such as groundwater flow and surface stress. Furthermore, applications like soil settlement analysis, pile analysis, stereographic analysis, etc., can also be performed using Rocscience’s geotechnical software. Companies are increasingly trying to reduce casualties associated with mining and excavations, and geotechnical solutions are helping in achieving this task through proper design and planning. Off late, mining fatalities are reducing at a drastic pace as well, due to the increased use of technology in this sector. The U.S. Mine Safety and Health Administration reported that only twenty-four miners died due to mining related incidents in 2019, which is very low as compared to the years prior to 2019. Additionally, with the growth of cloud computing software vendors are providing these solutions on a monthly or yearly subscription basis to the end-users, which is further rising the adoption rate of geotechnical design software market amongst small and medium-sized end-users as well.
The detailed research study provides qualitative and quantitative analysis of geotechnical design software market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- The geotechnical design software market was valued at US$ 763.53 Mn in 2020 and is anticipated to reach US$ 2676.88 Mn by 2029 growing at a CAGR of 15.01% over the forecast period (2021 – 2029).
- Based on offerings outlook, the global geotechnical design software market is segmented primarily by solutions and services. The solutions segment accounted for the major market share in 2020.
- By platform, web-based segment recorder for the highest market share in global geotechnical design software market in 2020.
- By application, excavation design category accounted the highest market share in 2020.
- On the basis of pricing model, subscription/lease segment recorded for the highest market share in 2020.
- By end-user, construction and civil engineering registered the highest market share in 2020.
- By region, North America accounted for the highest share in the global geotechnical design software market in 2020.
- Some of the players operating in the global geotechnical design software market are Agile Frameworks, Bentley Systems, Datasurge, Deep Excavation LLC, Ensoft Inc., Fine spol. s.r.o., Geocentrix Ltd., Geocomp Corporation, GEOSTRU, Geotechnical Engineering Modelling Software (GEMS) LLP, GGU-Software, MIDA IT Co., Ltd., Novo Tech Software. Oasys, Optum Computational Engineering, Rocscience Inc., Spectra QEST, TAGA Engineering Software Ltd., Tensar International Corporation, Vista Data Vision, Other Market Participants.
Global Geotechnical Design Software Market:
- By Offering
- Solutions
- Cloud
- On Premise
- Services
- By Platform
- Web-based
- App-based
- By Application
- Excavation Design
- Walls and Gabions
- Shallow and Deep Foundations
- Settlement Analysis
- Tunnels and Shafts
- Others
- By Pricing Model
- One-time Purchase
- Subscription/Lease
- By End-User
- Mining
- Oil and Gas
- Construction and Civil Engineering
- Energy and Utilities
- Government
- Education Institutes
- Others
- By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
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