What is Service Virtualization Market?
In software development, service virtualization is a method to emulate the behavior of certain components in heterogeneous component-based applications such as API-controlled applications, cloud-based applications, and service-oriented architectures. It is used to provide software development and QA / test team access to dependent system components that are required to run an application under test (AUT) but are not available or difficult to access for development and testing purposes. When the behavior of the dependent components is "virtualized", testing and development can continue without accessing the actual live components. Service virtualization is recognized by providers, industry analysts, and industry publications more different than ridicule. Service virtualization emulates the behavior and data of dependent systems so that the dependent system is presented without restrictions, so that software can be developed and deployed more quickly, with lower costs and greater reliability.
The market study is being classified by Type (Software/Tools and Services), by Application (IT Services, Telecommunication, BFSI, Retail and eCommerce, Media and Entertainment, Healthcare, Automotive and Others) and major geographies with country level break-up.
CA Technologies (United States), IBM Corporation (United States), Micro Focus (United Kingdom), Smartbear Software (United States), Parasoft (United States), Tricentis (Austria), Cavisson Systems (United States), Cigniti Technologies (India), Cognizant (United States), Wipro Limited (India), Sogeti (France) and SQS AG (Germany) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Maveric Systems (India) and Prolifics (United States).
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail of competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Service Virtualization market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Service Virtualization market by Type, Application and Region.
On the basis of geography, the market of Service Virtualization has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- The Growing Demand for IoT, Cloud Computing, and Mobility Solutions & Services in the Commercial and Industrial Sectors
- An Increasing Number of Mobile Users across the Country Along With Higher Adoption of Advanced Digital Technologies
Market Trend
- The Rise in Enhanced Quality of Test Conditions and Accelerated Time to Market
- Increasing Investments Made By Enterprises in Information Technologies
Restraints
- Data Security Regulations and Policies
Opportunities
- Growing Investments by Governments in Connected Devices and Networking & Communication Technologies
- Research and Development Activities to Develop New and Innovative Products, Solutions, and Services for Various Industries
Challenges
- Lack of Technology in Developing Regions
Key Target Audience
Service Virtualization Providers, Research and Development, Potential Investors and Others