Market Research Reports, Business Consulting Services & Analytics

Service Virtualization Market Drivers Rise in Adoption of Cloud Computing

HYDERABAD, TELANGANA, INDIA, November 30, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Service Virtualization Market size is estimated to reach $2.4 Billion by 2026 at a CAGR of 17.7% during the forecast period 2021-2026. Service Virtualization offers superior application quality, higher parallel testing and reliability throughout the entire software development life cycle for designing innovative software applications. The technology is widely deployed to simulate test environments of IT infrastructure across organizations. The paradigm shift of business models and technologies have accelerated wide-scale deployment of model-based computing applications, thereby driving the growth of the Service Virtualization Industry. The popularity of digitalization, rising demand for advanced data integration solutions, application programming interface, and potential investment in cloud-based technologies are additionally promoting the market positively. Furthermore, the growing number of professional service providers worldwide is encouraging various end user industries to leverage the advantages of Service Virtualization end-to-end to aim for ubiquitous computing and other seamless experience. Therefore, the fundamentals of high-performance software applications for data-driven decisions and online experience performances among the enterprises, along with significant investment of service virtualization tools for motivate the growth of the Service Virtualization Market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Service-Virtualization-Market-Research-500924

Key takeaways:

1. North America dominated the Software-defined Anything Market in 2020 with a share of 51%, owing to the early adoption of cloud-based solutions, prominence of leading companies such as Google, Oracle, Webtrends and Salesforce and constant research to offer best-in-class hybrid cloud platforms are estimated to generate profitable revenue in this region.

2. The proliferation of digitalization due to the rapid internet penetration is influencing businesses to adopt virtualization with intelligent orchestration, thereby boost the market demand.

3. The Service based held the largest share of 54% in 2020, owing to the growing emergence of potential vendors of Service Virtualization to provide latest software and quality service at reasonable price.

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Segmental Analysis:

1. The Service based held the largest share of 54% in 2020, owing to the growing emergence of potential vendors of Service Virtualization to provide latest software and quality service at reasonable price.

2. IT & Telecommunication is estimated to hold the major share of 38% in 2020, owing to the spurred in demand of artificial intelligence and machine learning across diversified verticals. In fact, competitive business landscape and expanding economy propel the development of advanced hybrid cloud capabilities.

3. North America dominated the Software-defined Anything Market in 2020 with a share of 51%, followed by Asia Pacific. The early adoption of cloud-based solutions, prominence of leading companies such as Google, Oracle, Webtrends and Salesforce and constant research to offer best-in-class hybrid cloud platforms are estimated to generate profitable revenue in this region.

4. In addition, Corsa secured an additional $7 million funding from Roadmap Capital in June 2020 that accelerated the momentum of Network Security Virtualization Platform to scale up network security.

Competitive Landscape:

The top 5 players in the Service Virtualization industry are -

1. Conductrics

2. Optimizely

3. Convert

4. Parasoft

5. Wingify

Click on the following link to buy the Service Virtualization Market Report:
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