Server Virtualization: consolidating multiple physical servers into virtual servers that run on a single physical server.
Application Virtualization: an application runs on another host from where it is installed in a variety of ways. It could be done by application streaming, desktop virtualization or VDI, or a VM package (like VMware ACE creates with a player). Microsoft Softgrid is an example of Application virtualization.
Presentation Virtualization: This is what Citrix Met frame (and the ICA protocol) as well as Microsoft Terminal Services (and RDP) are able to create. With presentation virtualization, an application actually runs on another host and all that you see on the client is the screen from where it is run.
Network Virtualization: with network virtualization, the network is “carved up” and can be used for multiple purposes such as running a protocol analyzer inside an Ethernet switch. Components of a virtual network could include NICs, switches, VLANs, network storage devices, virtual network containers, and network media.
Storage Virtualization: with storage virtualization, the disk/data storage for your data is consolidated to and managed by a virtual storage system. The servers connected to the storage system aren’t aware of where the data really is. Storage virtualization is sometimes described as “abstracting the logical storage from the physical storage.   _{Your Comment}