Service Virtualization Market: Know The Key Growth Drivers Developments and Innovations

"The Latest Research Report Service Virtualization Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. - MarketResearchReports.biz"

Service virtualization delivers a simulated test environment that creates, manages, and deploys complete test environments anytime, anywhere. Virtualization is now an integral part of IT infrastructure. Organizations have to be able to respond effectively and quickly to changing business needs, in this age of instant expectations. To achieve these goals, application teams need to deliver quality software on time that allows developers and testers access to unavailable or limited services in a simulated, virtual environment. With the help of services virtualization, quality improvements, risk reduction, incremental top-line revenue can be achieved.

With the help of service virtualization, development and test teams simulate the operation of a service without affecting the delivery regardless of access to production systems. This helps application teams to find bugs earlier in the application life cycle when they are easier and faster to fix, which eventually lowers costs and reduces testing time.

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The technology offers various business benefits, including better utilization of system resources and rapid provisioning of services. Service virtualization is beneficial for the development teams which focuses on bug fixing at the API layer, where major problems are often introduced into system interfaces. This helps in reducing the application development time and improves front-end tasks for a better user experience. Furthermore, services virtualization can be used in connected systems for testing behavior of an application, its components and APIs.

With the advancement in technology, the market for service virtualization has increased significantly. Increased adoption of BYOD and DevOps practices for software development are crucial factors facilitating the expansion of the service virtualization market during the forecast period. It is especially useful in the development of complex API-, cloud-, and SOA (Service Oriented Architecture)-based systems. Moreover, to avoid the process bottlenecks that commonly occur when teams are developing/testing interconnected system components in parallel, service virtualization is used. The major factor responsible for driving service virtualization market is the need to avoid an expensive test lab and save time by detecting development errors early in production. Service virtualization also reduces infrastructure required to develop and test applications, which is another key factor responsible for bolstering service virtualization demand. On the other hand, data security regulations and policies is one of the restraints which is expected to hamper the market growth in the near future.

The global service virtualization market is segmented on the basis of component, deployment type, and industry vertical. Based on component, the global market is classified into software/tools and services. On the basis of service type, the global market is classified into managed service and professional service. On the basis of deployment type, the global market is classified into on-premise and cloud. Based on industry vertical, the market can be segmented into manufacturing, healthcare, hospitality, BFSI, IT services, telecommunication, retail & e-commerce, media & entertainment, automotive and education.

From a geographical standpoint, North America is expected to witness significant growth of the service virtualization market during the forecast period. This is due to the increasing adoption of cloud-based solutions by large number of firms in the region. However, the market in Asia Pacific and North America is expected to grow at a gradual rate during the forecast period. The market in developing regions such as Middle East & Africa (MEA) and Latin America are also expected to grow over the forecast period.

Some of the major players involved in the development of service virtualization include Postdot Technologies, CA Technologies, IBM Corporation, Micro Focus, SmartBear Software, Tobania, Parasoft, Cognizant, Wipro, Sogeti, SQS, Maveric Systems, Prolifics, Axway, Crosscheck Networks, Delphix, Micro Focus, WireMock, Solution-Soft Systems, Tricentis, Cavisson Systems, Cigniti, Planit Testing, Tech Mahindra, ITC Infotech, and Capgemini.

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