Global Service Virtualization Market by Component (Solution v/s Service), by Deployment Mode (On-Premise v/s Cloud), by End User Industry (IT& Telecom, BFSI, Retail & E-Commerce, Automotive, Healthcare, Others), by Company, by Region, Forecast & Opportunities, 2025

The Global Service Virtualization Market is expected to grow at an impressive rate during the forecast period. The Global Service Virtualization Market is driven by the widespread acceptance of service virtualization across various end-user industries, especially the large enterprises. Additionally, associated benefits with service virtualization such as affordability, enhanced business efficiency, increased business productivity, improved collaboration between different teams and departments, among others are expected to positively influence the market growth through 2025. Furthermore, increasing investments in advanced technology and technology upgradation along with new product launches by the major players operating in the market is expected to create lucrative opportunities for the market growth over the next few years. However, adherence to data security standards and norms can hamper market growth during the forecast period.

The Global Service Virtualization Market is segmented based on component, deployment mode, end-user industry, company and region. Based on component, the market can be bifurcated into solution and service. The solution segment is expected to dominate the market since they can be integrated into various combinations in order to meet the business requirements and expedite the software development process. Based on deployment mode, the market can be split into on premise and cloud. The cloud segment is expected to dominate the market through 2025. This can be ascribed to the different associated benefits such as scalability, 24/7 availability, flexibility, large storage space, auto-update feature, among others. Based on end-user industry, the market can be categorized into IT& Telecom, BFSI, retail & e-commerce, automotive, healthcare, media & entertainment and others. The BFSI segment is expected to register significant growth in the market owing to the increasing adoption of software in the financial operations.

Regionally, the service virtualization market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, North America is expected to dominate the overall service virtualization market owing to the increased demand for cloud computing and IoT based solutions in various end-user industries. While, the Asia Pacific region is expected to register the highest growth in the market on account of the rising digitization and increasing penetration of connected devices.

The major players operating in the service virtualization market are CA Technologies, IBM Corporation, SmartBear Software, Parasoft Software Pvt Ltd, Cavisson Systems, Cigniti Technologies Ltd,     Cognizant Technology Solutions Corp, Wipro Limited, Sogeti Group, Expleo Group SAS and others. Major companies are developing advanced technologies and launching new services in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.

Years considered for this report:

• Historical Years: 2015-2018
• Base Year: 2019
• Estimated Year: 2020
• Forecast Period: 2021–2025

The objective of the Study:

• To analyze and estimate the market size of the Global Service Virtualization Market from 2015 to 2018.
• To estimate and forecast the market size of the Global Service Virtualization Market from 2019 to 2025 and growth rate until 2025.
• To classify and forecast the Global Service Virtualization Market based on component, deployment mode, end-user industry, company, and regional distribution.
• To identify dominant region or segment in the Global Service Virtualization Market.
• To identify drivers and challenges for the Global Service Virtualization Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Service Virtualization Market.
• To identify and analyze the profile of leading players operating in the Global Service Virtualization Market.
• To identify key sustainable strategies adopted by market players in the Global Service Virtualization Market.

The author performed both primary as well as exhaustive secondary research for this study. Initially, researchers sourced a list of service providers across the globe. Subsequently, they conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the author could include the service providers which could not be identified due to the limitations of secondary research. The author analyzed the service providers, distribution channels, and the presence of all major players across the globe.

The author calculated the market size of the Global Service Virtualization Market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The author sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied.

Key Target Audience:
Service virtualization provider companies
Market research and consulting firms
Government bodies such as regulating authorities and policymakers
Organizations, forums and alliances related to service virtualization

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers, and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:
In this report, the Global Service Virtualization Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Global Service Virtualization Market, By Component:

• Solution
• Service
• Professional
• Managed

Global Service Virtualization Market, By Deployment Mode:

• On-Premise
• Cloud

Global Service Virtualization Market, By End-User Industry:

• IT & Telecom
• BFSI
• Retail & E-Commerce
• Automotive
• Healthcare
• Media & Entertainment
• Others

Global Service Virtualization Market, By Region:

• North America
  • United States
  • Canada
  • Mexico
  
  
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  
  
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  
  
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait
  
  
• South America
  • Brazil
  • Argentina
  • Colombia
  
  

Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Service Virtualization Market.

Available Customizations:
With the given market data, the author offers customizations according to a client’s specific needs.