Service Virtualization Market Current Trends, Production Analysis, Product Types & End-user breakdown

Felton, Calif., USA, Feb. 23, 2021 — /EPR Network/ —

The global Service Virtualization Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

Service Virtualization Market is anticipated to reach USD 1.69 billion by 2025. The market is anticipated to rise at a healthy rate in the years to come. Service virtualization offers a simulated test environment that manages, deploys, and creates test environments anywhere, anytime. Virtualization is an integral part of IT infrastructure. Governments have to be able to respond quickly and effectively to changing business requirements at this juncture.

Key Players:

  • SmartBear Software
  • Parasoft
  • Tricentis GmbH
  • Prolifics
  • IBM Corporation
  • CA Technologies
  • Sogeti (Capgemini)
  • Cigniti Technologies Ltd.
  • Maveric Systems Limited
  • Micro Focus International plc

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Growth Drivers:

To accomplish these goals, application sides need to transport superiority software on time that lets testers and developers access inaccessible or incomplete facilities in a virtual and stimulated environment. With the support of services virtualization, risk reduction, quality improvements, incremental top-line income could be accomplished. The factors that are propelling service visualization market include time saving and avoidance of an expensive test lab. On the other hand, data security policies and regulations are among the limiting factors for the service virtualization market and it is anticipated to grow at a significant CAGR of 17.6% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

Vertical Outlook:

  • IT
  • BFSI
  • Retail
  • Telecom

The IT segment dominated the vertical outlook of the service virtualization industry in 2016 and it is anticipated to maintain its dominance by 2025. The factors such as service virtualization tools address numerous problems associated with difficulties faced by the IT manufacturing comprising application downtime, release timelines, and software quality.

Component Outlook:

  • Software
  • Services

In 2016, Software accounted for the largest market share of service virtualization market. The factors that contribute to the market growth include tools or software offered by market players to focus upon catering to diverse needs of an association.

Deployment Type Outlook:

  • On-premise
  • Cloud

The “Cloud” segment dominated the deployment type of the service virtualization industry in 2016 and it is anticipated to maintain its dominance by 2025 due to factors such as technological propagation.

Regional Outlook:

North America accounted for the major share of the global service virtualization market in 2016 and will continue to rule the roost in the forthcoming period due to improved network connectivity, burgeoning trend of digitalization, and technological proliferation.

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