Hypervisor
A hypervisor provides a software virtualization environment in which other software, including operating systems, can run with the appearance of full access to the underlying system hardware, but in fact such access is under the complete control of the hypervisor. The software running in such a hypervisor managed environment is said to be executing within a virtual machine (VM). Multiple VMs may be managed simultaneously by a hypervisor. Hypervisors are generally classed as type 1 or type 2, depending on whether the hypervisor is running in supervisor mode or privileged mode on “bare metal” (type 1) or is itself hosted by an operating system (type 2).
Read more about this topic: Embedded Hypervisor, Definitions