San Francisco, 24
January, Service Virtualization Market Size, Share
& Trends Analysis Report By Component (Software, Services), By Deployment
Type (On-premises, Cloud), By Vertical (IT, BFSI, Retail, Telecom), And Segment
Forecasts, 2018 – 2025
The global service virtualization market size is expected to reach
USD 1.69 billion by 2025, according to a new study by Grand View Research,
Inc., progressing at a CAGR of 17.6% during the forecast period. Increasing
adoption of digitization by enterprises to automate business processes is one
of the key trends stimulating market growth. Besides this, growing adoption of
DevOps and agile methodologies for software development, in an attempt to
improve collaboration between software development and testing teams, is
anticipated to provide a fillip to the market.
Service virtualization enhances
operational efficiencies and collaboration between development, quality,
operations, and assurance teams to provide a continuous integration, testing,
and delivery of software. Its tools and services cater to various needs of
software development teams. They also enable developers to enhance the quality
of test conditions and accelerate time to market, resulting in high operational
efficiencies and increased return on investment.
Various industries such as IT,
banking, insurance, retail, and telecom are widely adopting service
virtualization solutions to enhance productivity, reduce time to market,
streamline workflows, deliver high-quality products and services, and reduce
costs associated with software development. However, issues related to data
security regulations and policies are estimated to challenge the growth of the
market.
Access Full Research
Report On Service Virtualization Market Analysis:
www.grandviewresearch.com/industry-analysis/service-virtualization-market
www.grandviewresearch.com/industry-analysis/service-virtualization-market
Further Key Findings from the Study Suggest That:
·
North America is expected to
account for the largest share owing to rapid adoption of digital services along
with large presence of major players and wide acceptance of cloud
infrastructure
·
Asia Pacific emerged as the
fastest growing market over the forecast period, owing to advancements in
infrastructure, increasing IT outsourcing operations, and growing digital
services
·
The software segment accounted
for over 50.0% of the overall market in 2017. The services segment is expected
to register the highest CAGR over the forecast period
·
The IT vertical dominated the
market in the year 2017, followed by the telecom vertical. Growing use of
digitalization and development of connected devices are expected to drive the
market.
·
Key participants include IBM
Corporation, CA Technologies, Micro Focus, Smartbear Software, Parasoft, Sogeti
(Capgemini), Maveric Systems, and Prolifics.
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand
View Research has segmented the global service virtualization market report
based on component, deployment type, vertical, and region:
Service Virtualization Component Outlook (Revenue, USD
Million, 2014 - 2025)
·
Software
·
Services
Service Virtualization
Deployment Type Outlook (Revenue, USD Million, 2014 - 2025)
·
On-premise
·
Cloud
Service Virtualization Vertical
Outlook (Revenue, USD Million, 2014 - 2025)
·
IT
·
BFSI
·
Retail
·
Telecom
·
Others
Service Virtualization Regional
Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
U.K.
·
Asia Pacific
o
China
o
India
o
Japan
·
Rest of the World (RoW)
Access Full Press
Release of this Report:
www.grandviewresearch.com/press-release/global-service-virtualization-market
www.grandviewresearch.com/press-release/global-service-virtualization-market
About Grand View
Research
Grand View Research, Inc.
is a U.S. based market research and consulting company, registered in the State
of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more
information: www.grandviewresearch.com/
