Service Virtualization Market: Global Industry Analysis and Forecast (2021-2027), Technology Trends.

Service Virtualization Market size was valued at US$ 750 Mn. in 2020 and the total revenue is expected to grow at a CAGR of 18.1% through 2021 to 2027, reaching nearly US$ 2,403.31 Mn.

Service Virtualization Market Overview:

Service Virtualization is a technique to emulate the behaviour of particular components in heterogeneous component based applications like Cloud-based applications, API driven applications, and service-oriented architectures. Ready API Virtualization, CA Service Virtualization, Micro Focus Service Virtualization, IBM Rational Test Virtualization Server, Soap UPI are some of the top service virtualization tools. Active DAS, Passive DAS, and Hybrid DAS are the product types of the service virtualization. VMware fusion, Oracle VM virtual box, VMware workstation, and Parallel Desktops are the four types of the top software that are used widely for the service virtualization. Service Virtualization Market To know about the Research Methodology :- Request Free Sample Report Though market forecasting through 2027 is based on real output, demand and supply of 2020, 2020 numbers are also estimated on real numbers published by key players as well all-important players across the world. Market forecasting till 2027 is done based on past data from 2016 to 2019 with the impact of global lock down on the market in 2020 and 2021.

Service Virtualization Market Dynamics:

The major key driving factors that are expected to boost the growth of the service virtualization market during the forecast period 2021-2027 are the rapid provisioning of services, rising adoption of BYOD, DevOps, Bug Fixing, accelerated time to service virtualization, better test conditions, digital technologies adoption is increasing, and better utilization of the system resources. Service Virtualization offers opportunities not only for developers but also for testers to ensure high quality during the overall software development life cycle. Service virtualization offers many benefits such as reduce dependencies and headaches, reduces time to market, increases quality, and reduce costs. Service Virtualization minimizes the costs like services charges to a third-party API, database or service. Moreover, Service virtualization minimizes the infrastructure costs and operating expenses due to less money is required for accessing, improving, and reprocessing what is in the cloud. The major restraining factors that are expected to hampers the growth of the global service virtualization market during the forecast periods 2021-2027 are the high costs of the implementation, availability issues, security risks, scalability issues, and service virtualization needed various links in a chain that must work together cohesively.

Service Virtualization Market Segment Analysis:

Based on the Deployment Mode, the market is segmented into On-premises, and Cloud. Cloud deployment mode segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2021-2027. This is due to the cloud deployment service virtualization supports the companies in removing their operational costs. Because companies do not have to spend in any added resource of computing. Moreover, cloud deployment also provides the benefits such as cost effectiveness and enhanced efficiency. These are the key benefits of the cloud deployment service virtualization segment that are expected to boosts the growth of the service virtualization market during the forecast period 2021-2027. Based on the Component, the market is segmented into Hardware, Software, and Services. Services segment is expected hold the largest market share of xx% by 2027. Merchants describe the opportunity and design of the service virtualization structure, and design test cases as per the company’s demands. Affiliating with top QA service merchants for service virtualization allows the product development teams to emphasis on development, and hence supports in the execution of continuous integration. These are the key factors that are expected to drives the growth of the services segment in the global service virtualization market during the forecast period 2021-2027. Based on the Industry Vertical, the market is segmented into IT Services, Telecommunication, BFSI, Retail and eCommerce, Media and Entertainment, Healthcare, Automotive, and Others. IT Services and Telecommunication segments are expected to grow rapidly at a CAGR of xx% and xx% during the forecast period of 2021-2027. The IT services industry faces various issues like software quality, application downtime, and release timelines. These issues of the IT industry are addresses or solve with the help of the service virtualization tools. Service virtualization addresses solutions and services that help business proficiency and support in meeting customer requirements. Service Virtualization Market

Global Service Virtualization Market Regional Insights:

North America dominates the Global Service Virtualization market during the forecast period 2021-2027. North America is expected hold the largest market share of xx% by 2027. The technological propagation, enhanced network connectivity, and growing trend of digitalization and ongoing projects are the key factors that are expected to drives the growth of the service virtualization market in the North America region during the forecast period 2021-2027. Asia Pacific is expected to grow rapidly at a CAGR of xx% during the forecast period 2021-2027. This is due to the increasing demands for service virtualization in various industries in the Asia Pacific region such as IT Services, Telecommunication, BFSI, Retail and eCommerce, Media and Entertainment, Healthcare, and Automotive as service virtualization provides many benefits. These are the factors that are expected to boosts the growth of the Asia Pacific region in the service virtualization market during the forecast period 2021-2027. Service Virtualization MarketThe objective of the report is to present a comprehensive analysis of the Global Service Virtualization Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Global Service Virtualization Market dynamic, structure by analyzing the market segments and project the Global Service Virtualization Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Service Virtualization Market make the report investor’s guide.

Service Virtualization Market Scope: Inquiry Before Buying

Service Virtualization Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 750 Mn.
Forecast Period 2021 to 2027 CAGR: 18.1% Market Size in 2027: US $ 2,403.31 Mn.
Segments Covered: by Product Type • Active DAS • Passive DAS • Hybrid DAS
by Deployment Mode • On-premises • Cloud
by Organization Size • Small & Medium Enterprise • Large Enterprise
by Component • Hardware • Software • Services
by Industry Vertical • IT Services • Telecommunication • BFSI • Retail and eCommerce • Media and Entertainment • Healthcare • Automotive • Others

Service Virtualization Market, by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Service Virtualization Market Key Players

Tricentis • Cavisson Systems • Cognizant • Wipro Limited • Sogeti (Capgemini) • SQS • Maveric Systems • Prolifics • CA Technologies • IBM • Micro Focus (Formerly Hpe Software) • Smartbear Software • Parasoft • Cigniti • ITC Infotech • Postdot • Planit Testing • Tech Mahindra Frequently Asked Questions: 1] What segments are covered in Global Service Virtualization Market report? Ans. The segments covered in Global Service Virtualization Market report are based on Product Type, Deployment Mode, Organization Size, Component, and Industry Vertical. 2] Which region is expected to hold the highest share in the Global Service Virtualization Market? Ans. North America is expected to hold the highest share in the Global Service Virtualization Market. 3] Who are the top key players in the Global Service Virtualization Market? Ans. Tricentis, Cavisson Systems, Cognizant, Wipro Limited, Sogeti (Capgemini), and SQS are the top key players in the Global Service Virtualization Market. 4] Which segment holds the largest market share in the Global Service Virtualization market by 2027? Ans. Services segment hold the largest market share in the Global Service Virtualization market by 2027. 5] What is the market size of the Global Service Virtualization market by 2027? Ans. The market size of the Global Service Virtualization market is US $2,403.31 Mn. by 2027. 6] What was the market size of the Global Service Virtualization market in 2020? Ans. The market size of the Global Service Virtualization market was worth US $750 Mn. in 2020.
1. Global Service Virtualization Market: Research Methodology 2. Global Service Virtualization Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Service Virtualization Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Service Virtualization Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Service Virtualization Market Segmentation 4.1 Global Service Virtualization Market, by Product Type (2020-2027) • Active DAS • Passive DAS • Hybrid DAS 4.2 Global Service Virtualization Market, by Deployment Mode (2020-2027) • On-premises • Cloud 4.3 Global Service Virtualization Market, by Organization Size (2020-2027) • Small & Medium Enterprise • Large Enterprise 4.4 Global Service Virtualization Market, by Component (2020-2027) • Hardware • Software • Services 4.5 Global Service Virtualization Market, by Industry Vertical (2020-2027) • IT Services • Telecommunication • BFSI • Retail and eCommerce • Media and Entertainment • Healthcare • Automotive • Others 5. North America Service Virtualization Market (2020-2027) 5.1 Global Service Virtualization Market, by Product Type (2020-2027) • Active DAS • Passive DAS • Hybrid DAS 5.2 Global Service Virtualization Market, by Deployment Mode (2020-2027) • On-Premise • Cloud 5.3 Global Service Virtualization Market, by Organization Size (2020-2027) • Small & Medium Enterprise • Large Enterprise 5.4 Global Service Virtualization Market, by Component (2020-2027) • Hardware • Software • Services 5.5 Global Service Virtualization Market, by Industry Vertical (2020-2027) • IT Services • Telecommunication • BFSI • Retail and eCommerce • Media and Entertainment • Healthcare • Automotive • Others 5.6 North America Service Virtualization Market, by Country (2020-2027) • United States • Canada • Mexico 6. Asia Pacific Service Virtualization Market (2020-2027) 6.1. Asia Pacific Service Virtualization Market, by Product Type (2020-2027) 6.2. Asia Pacific Service Virtualization Market, by Deployment Mode (2020-2027) 6.3. Asia Pacific Service Virtualization Market, by Organization Size (2020-2027) 6.4. Asia Pacific Service Virtualization Market, by Component (2020-2027) 6.5. Asia Pacific Service Virtualization Market, by Industry Vertical (2020-2027) 6.6. Asia Pacific Service Virtualization Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Service Virtualization Market (2020-2027) 7.1 Middle East and Africa Service Virtualization Market, by Product Type (2020-2027) 7.2. Middle East and Africa Service Virtualization Market, by Deployment Mode (2020-2027) 7.3. Middle East and Africa Service Virtualization Market, by Organization Size (2020-2027) 7.4. Middle East and Africa Service Virtualization Market, by Component (2020-2027) 7.5. Middle East and Africa Service Virtualization Market, by Industry Vertical (2020-2027) 7.6. Middle East and Africa Service Virtualization Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Service Virtualization Market (2020-2027) 8.1. Latin America Service Virtualization Market, by Product Type (2020-2027) 8.2. Latin America Service Virtualization Market, by Deployment Mode (2020-2027) 8.3. Latin America Service Virtualization Market, by Organization Size (2020-2027) 8.4. Latin America Service Virtualization Market, by Component (2020-2027) 8.5. Latin America Service Virtualization Market, by Industry Vertical (2020-2027) 8.6. Latin America Service Virtualization Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 9. European Service Virtualization Market (2020-2027) 9.1. European Service Virtualization Market, by Product Type (2020-2027) 9.2. European Service Virtualization Market, by Deployment Mode (2020-2027) 9.3. European Service Virtualization Market, by Organization Size (2020-2027) 9.4. European Service Virtualization Market, by Component (2020-2027) 9.5. European Service Virtualization Market, by Industry Vertical (2020-2027) 9.6. European Service Virtualization Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Tricentis 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Cavisson Systems 10.3. Cognizant 10.4. Wipro Limited 10.5. Sogeti (Capgemini) 10.6. SQS 10.7. Maveric Systems 10.8. Prolifics 10.9. CA Technologies 10.10. IBM 10.11. Micro Focus (Formerly Hpe Software) 10.12. Smartbear Software 10.13. Parasoft 10.14. Cigniti 10.15. ITC Infotech 10.16. Postdot 10.17. Planit Testing 10.18. Tech Mahindra

About This Report

Report ID 8101
Category Information Technology & Telecommunication
Published Date Nov 2019
Updated Date Dec 2021
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