18.50% Growth Rate for Service Virtualization Market by 2022 | Global Forecast, Trends, Opportunity and Industry Analysis

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The Service Virtualization Market is projected to grow from US$ 445.5 Million in 2017 to US$ 1,040.8 Million by 2022, at an estimated Compound Annual Growth Rate (CAGR) of 18.50% during the forecast period. This report spread across 149 pages, profiling 14 companies and supported with 71 tables and 39 figures is now available in this research.

Top Vendors in the Service Virtualization Market include are CA Technologies (US), IBM (US), Micro Focus (Formerly HPE) (US), SmartBear Software (US), Parasoft (US), Tricentis (Austria), Cavission Systems (US), Cigniti (India), Cognizant (US), Wipro (India), Sogeti (France), SQS (Germany), Maveric Systems (India), Prolifics (US), Axway (US), Crosscheck Networks (US), Delphix (US), Postdot Technologies (US), WireMock (UK), Solution-Soft Systems (US), Planit Testing (Australia), Tobania (Belgium), Tech Mahindra (India), ITC Infotech (India), and Capgemini (France).

“Software services segment is expected to hold the major market size during the forecast period.”
Among software tools and services, the services segment holds a higher market share as the service virtualization services segment consists of 2 significant services: managed services and professional services. Managed services include software implementation services whereas professional services revolve around test implementation services, consultation, training, and support services. Including service virtualization in the Test-Driven Development (TDD) process, empowers the software development and QA teams with a host of benefits across the software development lifecycle

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“BFSI vertical is expected to grow at the highest CAGR during the forecast period.”
Banking applications and web services offer a broad spectrum of services to external businesses. These services can be in the form of information about account types and details, ATM locations, branch locations , business banking credit score checks, and other business banking offerings, including commercial banking Guaranteed Investment Certificates (GICs) and commercial mortgage, and interest, loan, and mortgage rates.

“Asia Pacific (APAC) is expected to witness a high growth potential during the forecast period.”
The APAC region is expected to gain a major traction in the service virtualization market during the forecast period. The region has the presence of several creditable industries, which are gradually embracing open testing and API strategies. In countries such as Japan, China, and India, the adoption of service virtualization tools and services has gained significance for the continuous delivery of solutions, owing to the digitalization of businesses. Among the APAC countries, India, Hong Kong, Malaysia, Singapore, China, Vietnam, and Australia are good prospects for the service virtualization market.

Breakdown of Primary Participants’ Profile:
• By Company type: Tier 1 – 27%, Tier 2 – 31%, and Tier 3 – 42%
• By Designation: C-level – 35%, Director level – 40%, and Others – 25%
• By Region: North America – 42%, Europe – 34%, APAC – 24%

Report Highlights:
The Main Objective of this report is to define, describe, and forecast the service virtualization market on the basis of segments, which include component, deployment type, vertical, and region. The report provides detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). The report forecasts the market size with respect to the 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.

Target Audience for Service Virtualization Market : Providers of service virtualization tools, Providers of service virtualization services, Software testing providers, QA providers, Communication service providers, Managed service providers, Third-party system integrators.

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List of Tables
Table 1 United States Dollar Exchange Rate, 2014–2016
Table 2 Service Virtualization Market Size, By Component, 2015–2022 (USD Million)
Table 3 Software/Tools: Market Size, By Region, 2015–2022 (USD Million)
Table 4 Services: Market Size, By Region, 2015–2022 (USD Million)
Table 5 Services: Market Size, By Type, 2015–2022 (USD Million)
Table 6 Managed Services Market Size, By Region, 2015–2022 (USD Million)
Table 7 Professional Services Market Size, By Region, 2015–2022 (USD Million)
Table 8 Service Virtualization Market Size, By Deployment Type, 2015–2022 (USD Million)
Table 9 On-Premises: Market Size, By Region, 2015–2022 (USD Million)
Table 10 Cloud: Market Size, By Region, 2015–2022 (USD Million)
…..and More

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