Global Service Virtualization Market
The Global Service Virtualization Market was valued at USD 390.5 million in 2016 and is projected to reach USD 1,304.18 million by 2025, growing at a CAGR of 18.80% from 2017 to 2025.
Service Virtualization is a method to emulate the behavior of specific components in heterogeneous component-based applications such as API-driven applications, cloud-based applications and service-oriented architectures. It is used to provide software development and testing teamsâ€™ access to dependent system components that are needed to exercise an application under test. Service virtualization is mainly used by vendors, industry analysts, and industry publications.
1. Market Drivers
1.1 Growing IoT, AI, and Machine Learning Technologies
1.2 Business Digitalization
1.3 Adoption of Agile Practices for Software Development
1.4 Increasing Rate of Time-To-Market
2. Market Restraints
2.1 Concerns for Data Security and Privacy over Cloud
2.2 Lack of Knowledge about this Technology
2.3 Costly Technology
The Global Service Virtualization Market is segmented on the basis of deployment model, vertical, component, organization size, and region.
1. By Deployment Model:
1.1 Private Cloud
1.2 Public Cloud
1.3 Hybrid Cloud
2. By Vertical:
2.3 Media and Entertainment
2.4 Retail and E-commerce
2.6 Telecommunication and IT
3. By Component:
4. By Organization Size:
4.1 Large Companies
4.2 Mid-sized Companies
4.3 Small Companies
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Rest of the World
The major players in the market are as follows:
3. Micro Focus (Formerly Hpe Software)
5. Smartbear Software
6. Wipro Limited
8. Sogeti (Capgemini)
11. Maveric Systems
12. Cavisson Systems
13. CA Technologies
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Service Virtualization Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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