Global Service Virtualization Market By Component, By Deployment Mode, By End User Industry, By Company, By Region, Forecast & Opportunities, 2025

NEW YORK, June 25, 2020 /PRNewswire/ --

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, Media & Entertainment, Others), By Company, By Region, Forecast & Opportunities, 2025



Read the full report: https://www.reportlinker.com/p05917056/?utm_source=PRN



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 the 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 Corportion, SmartBear Software, Parasoft, Cavisson Systems, Cigniti, Cognizant, Wipro Limited, Sogeti, SQS and others.Major companies are developing advanced technologies and launching new services in order to stay competitive in the market.

View original content:http://www.prnewswire.com/news-releases/global-service-virtualization-market-by-component-by-deployment-mode-by-end-user-industry-by-company-by-region-forecast--opportunities-2025-301083608.html

SOURCE Reportlinker

[ Back To TMCnet.com's Homepage ]