Outlook on the Service Virtualization Global Industry to 2025 - Impact of COVID-19 on the Market
The Global Service Virtualization Market is driven by the widespread acceptance of service virtualization across the various end-user industries, especially the large enterprises.
DUBLIN, July 1, 2020 /PRNewswire/ -- The "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, Others), by Company, by Region, Forecast & Opportunities, 2025" report has been added to ResearchAndMarkets.com's offering.
The 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 the 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 the 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 the 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 Corporation, 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. Other competitive strategies include mergers & acquisitions and new service developments.
Objective of the Study:
- To analyze and estimate the market size of the Global Service Virtualization Market from 2015 to 2018.
- To estimate and forecast the market size of the Global Service Virtualization Market from 2019 to 2025 and growth rate until 2025.
- To classify and forecast the Global Service Virtualization Market based on component, deployment mode, end-user industry, company and regional distribution.
- To identify dominant region or segment in the Global Service Virtualization Market.
- To identify drivers and challenges for the Global Service Virtualization Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Service Virtualization Market.
- To identify and analyze the profile of leading players operating in the Global Service Virtualization Market.
- To identify key sustainable strategies adopted by market players in the Global Service Virtualization Market.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Service Virtualization
4. Executive Summary
5. Voice of Customer
6. Global Service Virtualization Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Component (Solution v/s Service)
6.2.1.1. By Service (Professional v/s Managed)
6.2.2. By Deployment Mode (On-Premise v/s Cloud)
6.2.3. By End User Industry (IT& Telecom, BFSI, Retail & E-Commerce, Automotive, Healthcare, Media & Entertainment, Others)
6.2.4. By Company (2019)
6.2.5. By Region
6.3. Product Market Map
7. Asia-Pacific Service Virtualization Market Outlook
7.1. Market Size & Forecast
7.2. Market Share & Forecast
7.3. Asia-Pacific: Country Analysis
8. Europe Service Virtualization Market Outlook
8.1. Market Size & Forecast
8.2. Market Share & Forecast
8.3. Europe: Country Analysis
9. North America Service Virtualization Market Outlook
9.1. Market Size & Forecast
9.2. Market Share & Forecast
9.3. North America: Country Analysis
10. South America Service Virtualization Market Outlook
10.1. Market Size & Forecast
10.2. Market Share & Forecast
10.3. South America: Country Analysis
11. Middle East and Africa Service Virtualization Market Outlook
11.1. Market Size & Forecast
11.2. Market Share & Forecast
11.3. MEA: Country Analysis
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Competitive Landscape
14.1. CA Technologies
14.2. IBM Corporation
14.3. SmartBear Software
14.4. Parasoft
14.5. Cavisson Systems
14.6. Cigniti
14.7. Cognizant
14.8. Wipro Limited
14.9. Sogeti
14.10. SQS
15. Strategic Recommendations
16. About the Author & Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/za3yp4
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