Service Virtualization Market 2019 Global Industry Size, Share and Key Leaders by IBM, Micro Focus International, SmartBear, Software, Parasoft, Tricentis, Wipro, Cavisson Systems,Cigniti

The report on the global Service Virtualization market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player's market share analysis, competitive landscape and supply chain analysis.

Market Highlights:

Major giants such as CA Technologies, IBM Corporation, SmartBear Software, Parasoft, and Tricentis are concentrating on the service virtualization market owing to increasing development of smart cities and growing need for energy efficient solutions for the same. CA Technologies with its service virtualization helps in stimulating unavailable systems across the software development lifecycles and projected to provide higher application quality and reliability, which is likely to help in reducing software development cycle times and also reducing software testing costs. Increasing demand for service virtualization solutions is one major factor driving the growth of service virtualization market. Cost-effectiveness is another major factor responsible for fueling the growth of the service virtualization market.

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.

Segments:

Service virtualization market is segmented as below
By Component
• Software
• Service
- Managed Services
- Professional Services

By Deployment
• On-Premise
• Cloud
By Vertical
• BFSI
• Healthcare
• Automotive
• IT & Telecommunication
• Retail & e-Commerce
• 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 (%)
FIGURE 8 NORTH AMERICA SERVICE VIRTUALIZATION SYSTEMS MARKET, BY SERVICE TYPE (%)
FIGURE 9 NORTH AMERICA SERVICE VIRTUALIZATION SYSTEMS MARKET, BY TESTING TYPE (%)
Continued……

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