Global service virtualization market is estimated to rise at a higher CAGR in the forthcoming period. In today’s world everything is connected, interactive, fluid and immediate. To have a competitive advantage in the constantly changing pace of technology, business dynamics need to accelerate the time to market with a leverage of being able to respond quickly and competently to meet changing business needs. Therefore, to help businesses meet goals, application teams need to provide quality software on time and within specific deadlines.
Developers and testers must speed up application projects and minimize the costs to meet strict deadlines and application teams frequently need to meet expectations on performance and functionality aspects. To deploy this, many organizations are switching ahead to composite applications that are developed and tested in quick time. A virtualization software helps the developers and testers access to a limited or unavailable services not available in times of need for software developers.
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Driving factors responsible for the growth of service virtualization market includes improved quality of data, test conditions and growth in ROI. A growing inclination towards service virtualization solutions and services conducted by several domain contributes to the market growth. Additionally, rise in automation in several verticals across the globe is likely to add to the growth of service virtualization market. Other factors such as rising awareness for SVaaS (Service-Virtualization-as-a-service) is considered as a feasible model for testing by many organizations coupled with increasing subscriptions for SVaaS is likely to add to the growth of service virtualization market.
Segmentation based on component, the service virtualization market includes services, software/tools. Segmentation based on deployment type, the service virtualization market includes on-premises and cloud. Based on segmentation by vertical, the service virtualization market includes BFSI, Telecommunication, IT services, retail, e-Commerce, media and entertainment, automotive and healthcare.
Geographically, service virtualization market spans North America, South America, Europe, Asia-Pacific, Middle-East and Africa. North America and Europe market is anticipated to grow at a higher CAGR in the forthcoming period owing to rapid automation and deployment of bots. APAC and MEA market is likely witness a highly moderate growth in service virtualization market due to proliferation of technology in various verticals that offers scalability and enforcement of security.
The key players in the service virtualization market include CA Technologies, Micro Focus, Smart Bear Software, Parasoft, Cavisson Systems, Tricentis, Cigniti, Wipro, Cognizant, SQS, Sogeti, Maveric Systems, Crosscheck Networks, Prolifics, Delphix, Postdot Technologies, Solution-Soft Systems, Planit Testing, Tobania, Tech Mahindra, Capgemini and ITC Infotech.
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This report studies the global Service Virtualization market, analyzes and researches the Service Virtualization development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like
• CA Technologies (US)
• IBM (US)
• Micro Focus (Formerly as 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)
• Capgemini (France)
Market segment by Regions/Countries, this report covers
• United States
• Southeast Asia
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/technology
Market segment by Type, Service Virtualization can be split into
• Managed Services
• Professional Services
Market segment by Application, Service Virtualization can be split into
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