Speciation

Speciation is the process of formation of a new genetically independent group of organisms, called species, through the course of evolution.

The process of splitting of genetically homogenous population into two or more populations that undergo genetic differentiation and eventual reproductive isolation is called speciation.
The entire course of evolution depends upon the origin of new populations (species) that have greater adaptive efficiency than their ancestors.

Speciation occurs in two ways.

Transformation of old species into new species over time.
Splitting of a single species into several, that is the multiplication of species.