The process engineering simulation (PES) market is at an inflection point. Artificial intelligence, advanced analytics, and cloud computing are disrupting this market by changing the engineering workflow. Cloud computing accelerates the opportunities for improvement in design and operations, enabling engineering organizations to create value from Industrie 4.0-type agility and digitization by Software-as-a-Service (SaaS) models. Process engineering is moving beyond traditional engineering designs to asset lifecycle optimization. SaaS leverages the respective strengths of both engineering simulation and cloud infrastructure providers to transform simulation to a higher value agile service, to provide scalable web access for legacy software, and to allow users to retain valuable intellectual property (IP) for engineering.