26 December 2018
– The 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.
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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Market Segment:
Market segment by
Type, the product can be split into
• Software
• Services
Market segment by
Application, Service Virtualization can be split into
• IT
• BFSI
• Telecom
• Others
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