Global Virtual IT Lab Software Market Forecasts, 2021-2022 & 2028: Benefits of Using Virtual Sandbox Tests & Increasing Spending on Information and Communications Technology Sector - ResearchAndMarkets.com

The "Virtual IT Lab Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment and Organization Size" report has been added to ResearchAndMarkets.com's offering.

Virtual IT Lab Software Market is expected to grow from US$ 1,461.29 million in 2021 to US$ 3,174.88 million by 2028; it is estimated to grow at a CAGR of 11.7% during 2021-2028.

Benefits of Using Virtual IT Lab Software for Educating Employees on Advanced Tools/Projects

Several businesses use Virtual IT Lab Software to educate employees on new development practices and train them on advanced and modern tools/projects. The software is well-suited for employee training because it provides real-world resources without impacting the live applications, websites, or networks.

Moreover, practical training for employees is essential for the success of each organization as it increases the productivity of an employee. As technology has become an integral part of operations, employees must be trained to use the advanced tools effectively. Also, the virtual employment training approach is a cost-effective method.

Additionally, employee training extends an employee's knowledge, creates subject matter and in-house experts, reduces attrition rates and recruitment costs, and improves working productivity.

In the Virtual IT Lab Software Market ecosystem, some online course providers offer virtualized IT labs platforms as their training platform and range of courses. Several core Virtual IT Lab Software are used within a company for internal purposes. For instance, ReadyTech Corporation offers employee training with virtual training labs platform.

ReadyTech's virtualized IT labs platform provides employees a hands-on virtual training environment where they can practice actual on-the-job skills without jeopardizing the company's production systems. Virtual employment training with the help of Virtual IT Lab Software offers several benefits to the organization, which drives the Virtual IT Lab Software Market.

With the digital transformation, the use of cloud-based platform is increasing due to its simple deployment and reduced deployment time and cost. Moreover, the internet infrastructure has matured in developed countries and is flourishing in several developing countries, allowing end users to access the cloud-based platform.

A few benefits of cloud-based Virtual IT Lab Software are the secure hosting of critical data, improved security and scalability, and quick recovery of files. The backups are stored on a private or shared cloud host platform. Cloud-based Virtual IT Lab Software also reduces repair and maintenance costs and enhances customer satisfaction.

Therefore, due to the multiple benefits of cloud-based Virtual IT Lab Software, the adoption of the software is increasing by large enterprises and small & medium enterprises (SMEs) for educational purposes, which fuels the Virtual IT Lab Software Market growth.

Key Findings of Study:

In 2021, the cloud-based segment led the Virtual IT Lab Software Market. Virtual training has a promising future. As technology become more integrated into daily lives and work, more advancements and changes are expected in the near future. The cloud-based segment generates a significant amount of share in 2021.

Most virtual training labs are cloud-based, allowing learners to be educated from any location in the world, in any time zone, at any time, and at any speed. Users do not need an IT team to set up a complex training lab with virtual training labs. Instead of setting up each workstation with the appropriate software and files for in-person instruction, the virtual lab is set up once in the cloud and easily accessible by learners anywhere, contributing to the Virtual IT Lab Software Market growth.

Based on organization size, the Virtual IT Lab Software Market is segmented into SMEs and large enterprises. In 2021, the large enterprises segment led the Virtual IT Lab Software Market. The growing popularity among large enterprises and benefits associated with the utilization of the virtual IT labs is the major factor anticipated to drive the segment.

Virtual IT Lab Software for large enterprises offers an integrated corporate training platform for every aspect of the business. Large enterprises can educate their employees online faster and more efficiently. Companies can use this software to intelligently simplify, automate, and optimize their entire learning process.

It enables businesses to teach their personnel by building online courses, encouraging active learning, and increasing course completion rates in a simple and user-friendly environment. The growing popularity among large enterprises and benefits associated with the utilization of the virtual IT labs is the major factor anticipated to drive the segment growth in the Virtual IT Lab Software Market.

In 2021, North America accounted for the largest share in the global Virtual IT Lab Software Market.

Key Market Dynamics

Market Drivers

• Benefits of Using Virtual IT Labs Software for Educating Employees on Advanced Tools/Projects
• Growing Use of Cloud-Based Software

Market Restraints

• Availability of Open-Source Virtual IT Labs Software

Market Opportunities

• Increasing Spending on Information and Communications Technology Sector

Future Trends

• Benefits of Using Virtual Sandbox Tests

Company Profiles

• Oracle Corporation
• Amazon Web Services
• Cloudshare Inc.
• Microsoft Corporation
• Appsembler
• Cbt Nuggets
• Hewlett Packard Enterprise Development Lp (Hpe)
• Cisco, Inc.
• Ready Tech
• Juniper Networks, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/yzcnqx

View source version on businesswire.com: https://www.businesswire.com/news/home/20220513005263/en/