The report on the global Service Virtualization market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, key player's market share analysis, competitive landscape and supply chain analysis.
Pune, India - February 26, 2019 /MarketersMedia/ —
Market Highlights:
Unhindered workflow is a boon for industries as it helps them to go in sync with the demands of the time. Service virtualization ensures such an exchange between testing of software and implementation of the same. The global service virtualization market is eyeing for a stellar 18% CAGR during the forecast period (2017-2023). Market Research Future (MRFR) in their extensively covered report predicts a possible scaling of USD 1,220 million valuation during the same period. In addition, it encompasses chief drivers such as increasing demand for quality testing and leveraging of data integration before the actual implementation and resulting cost-effectiveness to deliver an in-depth analysis of the market. This can assist the users with a predictive model of the market in coming years.
However, a better result can only be expected only several links of the entire process work cohesively which, at times, is unquestionably daunting. Furthermore, it increases the chance of data breach which companies try to avoid all the time. These can only impact the market temporarily, but in the long run, with constant innovations, the market can ensure a safe passage towards progress for itself.
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Major key Players
• CA Technologies (U.S.),
• IBM Corporation (U.S.),
• Micro Focus International (UK),
• SmartBear Software (U.S.),
• Parasoft (U.S.),
• Tricentis (U.S.),
• Wipro Limited (India),
• Cognizant (U.S.),
• Cavisson Systems, Inc. (U.S.), Cigniti (India), and others.
According to MRFR, the Service virtualization market is projected to reach USD 1,220 million at a CAGR of 18% by the end of the forecast period.
Industry Trends:
DevOps service virtualization is creating quite a stir as it is enabling teams to communicate and collaborate more effectively. With the deployment of automation, the software is ensuring continuous integration and effective delivery which increases productivity and adds agility to projects
Ciena has recently launched the 3906mvi Service Virtualization Switch, which boosts the virtual network function of a company’s packet networking portfolio. This allows operators to quickly test their product and then roll them out for commercial services.
Regional Analysis:
The global service virtualization market, by geography, is segmented into North America, Europe, Asia Pacific and Rest of the World. As compared to other regions, the service virtualization market in North America is expected to witness a significant growth and hold the largest market share during the forecast period. The U.S and Canada are anticipated to drive the growth of the service virtualization market over the review period owing to the presence of a large number of established key players such as CA Technologies, IBM Corporation, SmartBear Software, Parasoft and Tricentis in that region. Furthermore, the region has a well-established infrastructure, which allows a higher penetration of devices and ultimately provides better connectivity. Increasing need for cost-effective solutions for software testing and delivery is another major factor responsible for driving the growth of service virtualization market.
In the global service virtualization market, Asia Pacific is expected to witness relatively faster adoption and is expected to grow at the highest CAGR during the forecast period as compared to other regions. Within Asia Pacific, service virtualization market is projected to contribute faster to the growth of revenue backed by increased return on investment on service virtualization applications in countries such as Japan, China, South Korea and India.
Segmentation:
The global service virtualization market can be segmented by component, deployment, and vertical.
By component, the market can be segmented into software and service. The service can further be segmented into managed services and professional services.
Deployment-wise the market includes on-premise and cloud.
Vertical-based segmentation includes banking, financial services and insurance (BFSI), healthcare, automotive, IT & telecommunication, retail & e-commerce, and others.
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Intended Audience
• Technology investors
• Research/Consultancy firms
• Technology providers
• Government bodies
• Service Virtualization Tools Providers
• Service Virtualization Service Providers
• Software Testing Providers
• Communication Service Providers
• Managed Service Providers
• Third-Party System Integrators
LIST OF FIGURES
FIGURE 1 RESEARCH SERVICE TYPE
FIGURE 2 SERVICE VIRTUALIZATION SYSTEMS MARKET, BY SERVICE TYPE (%)
FIGURE 3 SERVICE VIRTUALIZATION SYSTEMS MARKET, BY TESTING TYPE (%)
FIGURE 4 SERVICE VIRTUALIZATION SYSTEMS MARKET, BY DELIVERY MODEL (%)
FIGURE 5 SERVICE VIRTUALIZATION SYSTEMS MARKET, BY ORGANIZATION SIZE (%)
FIGURE 6 SERVICE VIRTUALIZATION SYSTEMS MARKET, BY END USER (%)
FIGURE 7 SERVICE VIRTUALIZATION SYSTEMS MARKET, BY REGION (%)
Continued……
LIST OF TABLES
TABLE 1 SERVICE VIRTUALIZATION SYSTEMS MARKET, BY SERVICE TYPE
TABLE 2 SERVICE VIRTUALIZATION SYSTEMS MARKET, BY TESTING TYPE
TABLE 3 SERVICE VIRTUALIZATION SYSTEMS MARKET, BY DELIVERY MODEL
TABLE 4 SERVICE VIRTUALIZATION SYSTEMS MARKET, BY ORGANIZATION SIZE
TABLE 5 SERVICE VIRTUALIZATION SYSTEMS MARKET, BY END USER
Continued……
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact Info:
Name: abhishek Sawant
Organization: Market Research Future
Phone: +1 646 845 9312
Website: https://www.marketresearchfuture.com/reports/service-virtualization-market-4652
Source: MarketersMedia
Release ID: 486254
