HP Service Virtualization (SV) is industry leading with the backing of the world class organization HP behind it.
HP originally went to market with ITKO as their original and only reseller. During those several years they made their intent clear to ITKO that they would either acquire the company and/or engineer their own product. CA acquired ITKO so HP then developed their own product specifically addressing the weaknesses of the ITKO - now CA Lisa product(s).
In this context HP was not late to market but perhaps second to market. This approach provided them an excellent approach to market analysis as well as product positioning, feature/functionality.
HP SV is a fraction of the initial cost vs CA Lisa and a fraction of the overall cost of ownership.
It is the industry leader because of its ease of use and multiple roles that it can be used for in an IT organization. CA's product is also good but requires heavy engineering skills to utilize.
Lastly, as a component of the entire Quality Assurance suite of products and solutions, HP SV integrates with the HP portfolio of testing tools. This integration should be the value that drives any customer/company decision. QA tools/products/solutions should be puzzle pieces that fit in with their suite of solutions addressing the SDLC (Software Development Life Cycle).