Service virtualization Market Size Estimation, Growth rate, Industry Analysis, Global Forecast To 2018 - 2026
The
growth of the market for Service virtualization is driven by the high rise of
the use of IoT and cloud computing in devices.
Market
Size – USD billion in 2018, Market Growth - CAGR of 16.2%, Market Trends –
Rapid growth in the demand of IOT and cloud computing.
The Service
virtualization market is
expected to grow from USD 412.54 billion in 2018 to USD 412.54 billion by 2026,
at a CAGR of 16.2% during the forecast period. The driving factor for growth
being the rapid growth in demand for IoT and cloud computing.
The
service virtualization is a process of software engineering that helps to
process, design and implement various Q/A testing and debugging. The more
advanced test quality conditions and the fast processing time are some of the
factors for market growth. It involves applications like the IoT and cloud
computing which are other added factors responsible for the growth. High demand
for IoT and cloud computing devices due to the ease of access by the users are
the major driving force of the market.
Players
will require increased investments to tackle these challenges and facilitate
growth in the coming years. This report comprises drivers, restraints,
opportunities, and challenges pertaining to the Cloud robotics market; and
extensive value chain analysis, patent analysis, analysis of the current
manufacturing capability and technology status, commercialization potential in
different devices, along with market size forecasts till 2026.
The
report “Service Virtualization
Market by Deployment mode (On premise, Cloud), Service (Professional, Managed),
Industry (Banking & Financial, Automotive, IT & Telecommunication,
Healthcare, Retail & E-commerce) and Geography-Global Forecast 2026” is
available now to Reports and Data customers and can also be purchased directly
at: https://www.reportsanddata.com/checkout-form/1089
Further key findings from the report suggest
·
The
Service virtualization market is expected to grow from USD 412.54 billion in
2018 to USD 412.54 billion by 2026, at a CAGR of 16.2% during the forecast
period. The driving factor for growth being the rapid growth in demand for IoT
and cloud computing.
·
Based on
deployment mode, the market is segmented as on premise and cloud. The
on-premises segment is expected to run the Service Virtualization Market. The
problem with the data being hosted on the cloud is that there is a chance of
losing the data which is not the case in the on premise. On premise,
applications are trustworthy, secure, and allows the companies to maintain a
controlling level which is not possible in cloud.
·
On the
basis of the service, market has been segmented as professional and managed.
The managed service is believed to be the most utilized sector of the market.
For the longer run and any ongoing solution, Managed Services is a better
option. The professional services, on the other hand, may bring the highest
share of 58% due to the various features of the professional services.
·
Based on
industry, it is segmented as Financial and Banking, IT & Telecom,
Healthcare, Retail & E-commerce, Automotive, Healthcare. Among these, the
IT & Telecom industry is the one to work with service virtualization
mostly.
·
North
America market is a dominating the market, due to the increasing adoption of
cloud technologies, specifically the mobile cloud. Another reason being the
establishment of the world's largest technological companies, making North
America one of the primary regions to adopt service virtualization.
Furthermore, the enhanced sell of smartphones and mobile devices has led to the
high adoption of IoT and cloud, in the companies.
·
The
Key players of the market include are CA Technologies (US), IBM (US), Micro
Focus (Formerly HPE) (US), Parasoft (US), Cognizant (US), Wipro (India),
Maveric Systems (India), Tech Mahindra (India), ITC Infotech (India), and
Capgemini (France).
For this report, the market has been segmented on the basis of deployment mode, service, Industry, and region:
·
Deployment mode(Revenue, USD
Million; 2016–2026)
o Cloud
o On premise
·
Service(Revenue, USD Million;
2016–2026)
o Professional
o Managed
·
Industry (Revenue, USD Million;
2016–2026)
o Banking & Financial services
o IT & Telecom
o Healthcare
o Automotive
o Retail & E-commerce
·
Regional Outlook (Revenue, USD
Million; 2016–2026)
o North America
§ US
§ Canada & Mexico
o Europe
§ Germany
§ France
§ UK
§ Rest of Europe
o Asia Pacific
§ China
§ Japan
§ South Korea
§ Rest of APAC
o Rest of the World
§ South America
§ Middle East and Africa
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