Service Virtualization Market Is Expected To Reach About USD 1,220 Million By 2023

Market Research Future (MRFR) Announces the Publication of its Half Cooked Research Report – Service Virtualization Market Research Report- Forecast 2017-2023.

The global service virtualization market is estimated to exhibit high growth potential during the forecast period owing to increasing deployment of service virtualization solutions across various industry verticals. Growing need for energy efficient solutions and service virtualization solutions for the same is major driver of the market. Additionally, increasing advancements in the technology is another major factor driving the growth of the service virtualization market. Increased demand for leveraging of data integration is another major factor responsible for fueling the growth of the service virtualization market. Rapid adoption of emerging technologies, smart phones and cloud platforms are other major factors responsible for driving the growth of service virtualization market.

Giants like CA Technologies, IBM Corporation, SmartBear Software, Parasoft, and Tricentis are the major players among others in the global service virtualization market. CA Technologies with its service virtualization helps in stimulating unavailable systems across the software development lifecycles and is projected to provide higher application quality and reliability. Parasoft is another leading player in the service virtualization market. Parasoft, by leveraging simulation technology to test more completely and hence reduce the testing time and eventually helps in reducing costs. The company focusses on offering innovative solutions and keeps up with the fast pace of the technological advancements. Service virtualization market is expected to witness significant growth with the growing development of smart cities and increasing demand for cost-effective solutions to improve overall productivity. Service virtualization helps in enabling continuous testing to accelerate software delivery.

Get a Sample Report @ https://www.marketresearchfuture.com/sample_request/4652

Prominent Players in Service Virtualization Market:
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)
The service virtualization market is projected to reach USD 1,220 million at a CAGR of 18% by the end of the forecast period.

Service virtualization market has been segmented on the basis of component, deployment, and vertical. The component segment is further segmented into software and services segment. Out of which, the services segment is expected to hold the largest market share of the service virtualization market owing to the increasing focus on product development and implementing continuous integration for the same.

Lack of awareness and high costs of updating and integrating the service virtualization tools may restrain the market growth over the assessment period. Additionally, evolving equipment cycle and budget constraints are other major factors that could hamper the growth of service virtualization market.

According to Market Research Future Analysis, the global service virtualization market is valued at approx. USD 1,220 million by the end of forecast period at a CAGR of 18% during the forecast period 2017-2023.

Service Virtualization Market

Service virtualization market can be segmented on the basis of component, deployment, and vertical. The vertical segment is further segmented into banking, financial services and insurance (BFSI), healthcare, automotive, retail & e-commerce, IT & telecommunication, and others. Increasing deployment of the service virtualization solutions across various industry verticals is one major factors driving the growth of the service virtualization market.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

For further information on this report, please visit-
https://www.marketresearchfuture.com/reports/service-virtualization-market-4652

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:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com

This release was published on openPR.