Report Description

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 2027. 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 2027. 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 Corporation, SmartBear Software, Parasoft Software Pvt Ltd, Cavisson Systems, Cigniti Technologies Ltd, Cognizant Technology Solutions Corp, Wipro Limited, Sogeti Group, Expleo Group SAS 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 global service virtualization market from 2017 to 2020.
  • To estimate and forecast the market size of global service virtualization market from 2021 to 2027 and growth rate until 2027.
  • To classify and forecast 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 global service virtualization market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global service virtualization market.
  • To identify and analyze the profile of leading players operating in global service virtualization market.
  • To identify key sustainable strategies adopted by market players in global service virtualization market. 


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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across the globe.

TechSci Research calculated the market size of global service virtualization market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research. 

Key Target Audience:

  • Service virtualization provider companies
  • Market research and consulting firms
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums and alliances related to service virtualization

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Attribute

Details

Base Year

2021

Historical Years

2017 – 2020

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Million, Volume in Units, and CAGR for 2017-2021 and 2022-2027

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Component

·         Deployment Mode

·         End User Industry

Regional Scope

North America; Asia Pacific; Europe & CIS; South America; Middle East & Africa

Country Scope

United States; Canada; Mexico; China; India; Japan; Malaysia; Thailand; Indonesia; Vietnam; South Korea; Germany; France; United Kingdom; Spain; Italy; Belgium; Russia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; South Africa; Egypt

Key Companies Profiled

CA Technologies, IBM Corporation, SmartBear Software, Parasoft Software Pvt Ltd, Cavisson Systems, Cigniti Technologies Ltd,     Cognizant Technology Solutions Corp, Wipro Limited, Sogeti Group, Expleo Group SAS.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, global service virtualization market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Global Service Virtualization Market, By Component:
    • Solution
    • Service
      • Professional
      • Managed
  • Global Service Virtualization Market, By Deployment Mode:
    • On-Premise
    • Cloud
  • Global Service Virtualization Market, By End User Industry:
    • IT& Telecom
    • BFSI
    • Retail & E-Commerce
    • Automotive
    • Healthcare
    • Media & Entertainment
    • Others
  • Global Service Virtualization Market, By Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Spain
    • Asia-Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Kuwait
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global service virtualization market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global service virtualization market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

Table of content

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 (2021)

6.2.5.     By Region

6.3.  Product Market Map

7.    Asia-Pacific Service Virtualization Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Component

7.2.2.     By Deployment Mode

7.2.3.     By End User Industry

7.2.4.     By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.     China Service Virtualization Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Component

7.3.1.2.2.             By Deployment Mode

7.3.1.2.3.             By End User Industry

7.3.2.     India Service Virtualization Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Component

7.3.2.2.2.             By Deployment Mode

7.3.2.2.3.             By End User Industry

7.3.3.     Australia Service Virtualization Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Component

7.3.3.2.2.             By Deployment Mode

7.3.3.2.3.             By End User Industry

7.3.4.     Japan Service Virtualization Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Component

7.3.4.2.2.             By Deployment Mode

7.3.4.2.3.             By End User Industry

7.3.5.     South Korea Service Virtualization Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Component

7.3.5.2.2.             By Deployment Mode

7.3.5.2.3.             By End User Industry

8.    Europe Service Virtualization Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Component

8.2.2.     By Deployment Mode

8.2.3.     By End User Industry

8.2.4.     By Country

8.3.  Europe: Country Analysis

8.3.1.     France Service Virtualization Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Component

8.3.1.2.2.             By Deployment Mode

8.3.1.2.3.             By End User Industry

8.3.2.     Germany Service Virtualization Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Component

8.3.2.2.2.             By Deployment Mode

8.3.2.2.3.             By End User Industry

8.3.3.     United Kingdom Service Virtualization Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Component

8.3.3.2.2.             By Deployment Mode

8.3.3.2.3.             By End User Industry

8.3.4.     Italy Service Virtualization Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Component

8.3.4.2.2.             By Deployment Mode

8.3.4.2.3.             By End User Industry

8.3.5.     Spain Service Virtualization Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Component

8.3.5.2.2.             By Deployment Mode

8.3.5.2.3.             By End User Industry

9.    North America Service Virtualization Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Component

9.2.2.     By Deployment Mode

9.2.3.     By End User Industry

9.2.4.     By Country

9.3.  North America: Country Analysis

9.3.1.     United States Service Virtualization Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Component

9.3.1.2.2.             By Deployment Mode

9.3.1.2.3.             By End User Industry

9.3.2.     Mexico Service Virtualization Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Component

9.3.2.2.2.             By Deployment Mode

9.3.2.2.3.             By End User Industry

9.3.3.     Canada Service Virtualization Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Component

9.3.3.2.2.             By Deployment Mode

9.3.3.2.3.             By End User Industry

10.  South America Service Virtualization Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Component

10.2.2.  By Deployment Mode

10.2.3.  By End User Industry

10.2.4.  By Country

10.3.              South America: Country Analysis

10.3.1.  Brazil Service Virtualization Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Component

10.3.1.2.2.           By Deployment Mode

10.3.1.2.3.           By End User Industry

10.3.2.  Argentina Service Virtualization Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Component

10.3.2.2.2.           By Deployment Mode

10.3.2.2.3.           By End User Industry

10.3.3.  Colombia Service Virtualization Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Component

10.3.3.2.2.           By Deployment Mode

10.3.3.2.3.           By End User Industry

11.  Middle East and Africa Service Virtualization Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value

11.2.              Market Share & Forecast

11.2.1.  By Component

11.2.2.  By Deployment Mode

11.2.3.  By End User Industry

11.2.4.  By Country

11.3.              MEA: Country Analysis

11.3.1.  South Africa Service Virtualization Market Outlook

11.3.1.1.      Market Size & Forecast

11.3.1.1.1.           By Value

11.3.1.2.      Market Share & Forecast

11.3.1.2.1.           By Component

11.3.1.2.2.           By Deployment Mode

11.3.1.2.3.           By End User Industry

11.3.2.  Saudi Arabia Service Virtualization Market Outlook

11.3.2.1.      Market Size & Forecast

11.3.2.1.1.           By Value

11.3.2.2.      Market Share & Forecast

11.3.2.2.1.           By Component

11.3.2.2.2.           By Deployment Mode

11.3.2.2.3.           By End User Industry

11.3.3.  UAE Service Virtualization Market Outlook

11.3.3.1.      Market Size & Forecast

11.3.3.1.1.           By Value

11.3.3.2.      Market Share & Forecast

11.3.3.2.1.           By Component

11.3.3.2.2.           By Deployment Mode

11.3.3.2.3.           By End User Industry

11.3.4.  Kuwait Service Virtualization Market Outlook

11.3.4.1.      Market Size & Forecast

11.3.4.1.1.           By Value

11.3.4.2.      Market Share & Forecast

11.3.4.2.1.           By Component

11.3.4.2.2.           By Deployment Mode

11.3.4.2.3.           By End User Industry

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 Software Pvt Ltd

14.5.              Cavisson Systems 

14.6.              Cigniti Technologies Ltd

14.7.              Cognizant Technology Solutions Corp

14.8.              Wipro Limited

14.9.              Sogeti Group

14.10.            Expleo group SAS

 15. Strategic Recommendations

Figures and Tables

Frequently asked questions

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Increasing adoption of service virtualization across various end-user industries and rise in investments in advanced technology and technology up-gradation along with new product launches are driving the demand of the global service virtualization market in the forecast period.

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CA Technologies, IBM Corporation, SmartBear Software, Parasoft Software Pvt Ltd, Cavisson Systems, Cigniti Technologies Ltd, Cognizant Technology Solutions Corp, Wipro Limited, Sogeti Group, Expleo Group SAS. are the major market players operating in the global service virtualization market.

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The North American region is dominating the market and is expected to maintain its dominance throughout the forecast period due to increasing demand for cloud computing and IoT-based solutions in various end-user industries.

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Based on the end user industry, the market is divided into IT& Telecom, BFSI, retail & e-commerce, automotive, healthcare, media & entertainment, and others. The diagnostic monitoring is expected to account for a significant market share in the forecast period due to the rising adoption of different kinds of software for financial applications.

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Sakshi Bajaal

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