Service Virtualization Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2027

The global service virtualization market size was valued at USD 4108 million in 2016. It is expected to grow at a CAGR of 17% over the forecast period. Service virtualization can be defined as a set of tools and services designed to abstract physical services through proxy or intermediary services. This helps businesses increase efficiency, increase development productivity, shorten time to market, streamline workflows, and improve collaboration between test and development teams.

Key Players:

Some of the prominent players in service virtualization market: CA Technologies (U.S.), IBM Corporation (U.S.), Micro Focus International (UK), SmartBear Software (U.S.), Parasoft (U.S.), Tricentis (U.S.), Wipro Limited (India), Cognizant (U.S.), Cavisson Systems, Inc. (U.S.), Cigniti (India) and others.

By Component

• Software/Tools
• Services

By Deployment Type

• On-premises
• Cloud

 By Vertical

• IT Services
• Telecommunication
• BFSI
• Retail and eCommerce
• Media and Entertainment
• Healthcare
• Automotive
• Others

By Geography

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

Key Questions Answered by Service Virtualization Market Report

• What was the Service Virtualization Market in 2020 and 2021; what are the estimated growth trends and market forecast (2021-2027).
• What will be the CAGR of Service Virtualization Market during the forecast period (2021-2027)?
• Which segments (product type/applications/end-user) were most attractive for investments in 2018? How are these segments are expected to grow during the forecast period (2021-2027)?
• Which manufacturer/vendor/players in the Service Virtualization Market was the market leader in 2018?
• Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.