In recent years, industrial nations around the globe have invested heavily in new technologies, software, and services to advance digital design and engineering analysis using the digital thread, data analytics, and high performance computing. Many of these initiatives such as Cloud-Based Design and Engineering analysis (CBDEA) fall under the umbrella of what has become known as Industry 4.0 or Industrial Internet. While an increasing number of companies are developing or already offering commercial cloud-based software packages and services for digital design and engineering analysis, little work has been reported on analyzing and documenting the related state-of-the-art as well as identifying potentially critical research gaps to be addressed in advancing this rapidly growing field. The objective of this paper is to present a state-of-the-art review of digital design and engineering analysis software and services that are currently available on the cloud. The main focus of this paper is on assessing the extent to which design and engineering analysis can already be performed based on the software and services accessed through the cloud. In addition, the key capabilities and benefits of these software packages and services are discussed. Based on the assessment of the core features of commercial CBDEA software and service packages, results suggest that almost all phases of a typical design and engineering analysis process can indeed already be conducted through cloud-based software tools and services.