1. Market Research
  2. > ICT Market Trends
Virtual IT Lab Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment and Organization Size

Virtual IT Lab Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment and Organization Size

  • March 2022
  • 141 pages
  • ID: 6270054
  • Format: PDF
  • The Insight Partners

Summary

Table of Contents

Search Inside

The global virtual IT lab software market is expected to grow from US$ 1,461.29 million in 2021 to US$ 3,174.88 million by 2028; it is estimated to grow at a CAGR of 11.7% from 2021 to 2028.

The growing use of cloud-based software is one of the major factors driving the virtual IT lab software market.With the digital transformation, the use of cloud-based platforms is increasing due to their simple deployment and reduced deployment time and cost.

Moreover, the internet infrastructure has matured in developed countries and is flourishing in several developing countries, allowing end users to access the cloud-based platform.A few benefits of cloud-based virtual IT lab software are the secure hosting of critical data, improved security and scalability, and quick recovery of files.

The backups are stored on a private or shared cloud host platform.Therefore, organizations can quickly recover several critical data.

Also, with a stable internet connection, the data can be easily accessed anywhere via secure logins. Cloud-based virtual IT lab software also reduces repair and maintenance costs and enhances customer satisfaction. Therefore, due to the multiple benefits of cloud-based virtual IT lab software, there is an increase in the adoption of the software by large enterprises and small & medium enterprises (SMEs) for educational purposes, fueling the growth of the virtual IT lab software market.

The global spending on the information and communications technology (ICT) sector is rising continuously. As per the article published by the International Trade Administration, spending on information technology (IT) by the Indian government is expected to reach US$ 7.3 billion by 2021 from US$ 6.6 billion in 2020, and it would grow by 9.4% annually. According to the article published by Innovation, Science and Economic Development Canada, in 2020, there were over 44,000 businesses in the Canadian ICT sector, and the majority (over 40,000) fell within the software and computer services segment. With the increasing spending on the ICT sector, especially on the software segment, the development of advanced technologies and the adoption of these technologies by businesses across the globe would grow in the coming years. There will be an increase in the need for advanced technologies/solutions from the demand and supply sides. Additionally, the increasing spending on new technologies would drive the overall ICT sector over the next decade as organizations move beyond prototyping into broader deployments of tools, such as virtual IT lab software. Therefore, it is expected to create lucrative opportunities for the virtual IT lab software market growth in the coming years.

The virtual IT lab software market constitutes prominent market players, such as Oracle Corporation; Amazon Web Services; CloudShare Inc.; Microsoft Corporation; APPSEMBLER; CBT NUGGETS; Hewlett Packard Enterprise Development LP (HPE); CISCO, INC.; Ready Tech; and Juniper Networks, Inc. These companies dominate the virtual IT lab software market through new product developments, acquisitions, and expansion strategies. In February 2022, Hewlett Packard Enterprise and Ayar Labs announced strategic collaboration and investment to develop next-generation data center architectures and networking with optical I/O. Ayar Labs is a leader in chip-to-chip optical connectivity. HPE and Ayar Labs will be joining hands together to create a partnership on photonics research and commercial development to develop extensive AI and HPC Solutions. Together they will create an ecosystem of customer engagements and solution providers.

Impact of COVID-19 Pandemic on Virtual IT Lab Software Market

During the COVID-19 pandemic, many companies assumed virtual training to be the best choice.Additionally, investing in employee training extends an employee’s knowledge, creates more subject matter and in-house experts, reduces attrition rates & recruitment costs, and improves working productivity.

Therefore, the overall impact of the COVID-19 pandemic on the virtual IT lab software market in 2020 was positive.

Similarly, in 2021 and 2022, the demand for virtual IT lab software increased, owing to the growing use of virtual sandbox testing.For instance, in February 2022, Google promised to design new tech for advertisers and users.

The tech giant mentioned that while developing and testing new solutions that allow advertisers access to user data while stripping away identifiers to maintain privacy, they will continue to support existing ad platforms for at least two years.It is expected that the Privacy Sandbox will roll out for beta testing by the end of 2022.

Thus, the growing use of sandboxing is supporting virtual IT lab software market growth.

Virtual IT Lab Software Market Insights

The increasing need for customized and scalable software is one of the major factors contributing to the growth of the global virtual IT lab software market.Companies sometimes use customized software to meet the consumer needs, such as rapid supply and deployment of business-related applications.

The use of customized software saves time while maintaining a high level of business focus.Compared to the traditional software production life cycle, these platforms enable developers to construct customized software without coding or with minimal hand-coding, speeding up the development of high-quality software.

Furthermore, the growing demand for various software applications to simplify and speed up business operations by adopting cloud-based solutions and IoT technologies is another important factor driving the virtual IT lab software market. Similarly, the global virtual IT lab software market is fuelled by increased demand for advanced technical apps to solve business challenges and improve work efficiency due to digitalization.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

eDiscovery Market by Component, Deployment Type, Organization Size, Vertical and Region - Global Forecast to 2027

  • $ 4950
  • June 2022
  • 251 pages

The eDiscovery market is projected to grow from USD 11.2 Billion in 2022 to USD 17.1 Billion by 2027, at a compound annual growth rate (CAGR) of 8.7% during the forecast period. eDiscovery market is rapidly ...

  • World
  • APAC
  • ICT
  • Cloud Computing
  • Industry analysis
  • Social Media Usage
  • Internet Penetration

ref:plp2022

Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on