Global Shared Services Center Market Size study & Forecast, by End-use (Pharmaceutical & Clinical, Legal, BFSI, Manufacturing, Others), and Regional Analysis, 2023-2030

Global Shared Services Center Market Size study & Forecast, by End-use (Pharmaceutical & Clinical, Legal, BFSI, Manufacturing, Others), and Regional Analysis, 2023-2030

Global Shared Services Center Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than 19.8% during the forecast period 2023-2030. Shared services involve the consolidation and standardization of various back-office activities, such as finance, human resources, information technology, customer support, and other administrative functions. The primary goal of shared services is to achieve operational efficiency, cost savings, and improved service delivery by leveraging economies of scale, streamlined processes, and advanced technologies. In a Shared Services Center (SSC), these services are often delivered by specialized teams or centers that serve the internal needs of the organization. The market encompasses a range of solutions and technologies aimed at optimizing and automating business processes, enhancing collaboration, and ensuring a consistent and high level of service across different functions. The market growth is driven by key factors such as the adoption of Robotic Process Automation (RPA) and the growing need for a higher degree of strategic flexibility.

RPA stands as a specialized IT solution enabling organizations to automate numerous tasks using dedicated software programs. Embraced by numerous business executives, RPA is perceived as a transformative tool capable of saving valuable time on repetitive tasks and elevating the overall quality of work produced by companies. Key players in this industry, such as Blueprism, NICE, and UiPath, wield substantial influence, collectively holding a significant share of the overall market. As per Statista, the projected expansion of the global Robotic Process Automation (RPA) Market anticipates a value exceeding USD 13 billion by 2030, marking a Significantly surge from the approximately USD 12 billion recorded in 2020. RPA characterized using software robots or bots, facilitates the acceleration of routine business tasks, contributing to increased operational efficiency and cost reduction within enterprises. However, data security and privacy concerns and integrating an SSC with existing systems stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Shared Services Center Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. In 2022, the Asia Pacific region is leading the global market share and this dominance is anticipated to persist throughout the forecast period. This growth is fueled by factors such as the region's cost advantages, characterized by a substantial pool of young English-speaking professionals, comparatively lower wages, and infrastructure costs. The prevalence of cultural homogeneity, coupled with the cost advantages in countries such as India, China, and Singapore, is expected to facilitate the establishment of Shared Services Centers (SSCs) in the region. Meanwhile, Europe is projected to experience a significant Compound Annual Growth Rate (CAGR) of XX% over the forecast period. This growth is attributed to factors such as a skilled labor force, linguistic proficiency, and cultural and geographical proximity to Western Europe. Additionally, the region boasts numerous renowned universities, providing access to a qualified talent pool.

Major market player included in this report are:
KPMG International Limited
Abbott
Invest Lithuania
Novartis AG
Ahlstrom
Allen & Overy LLP
PA Knowledge Limited
Ernst & Young Global Limited
Aspen Holdings
Barclays

Recent Developments in the Market:
 In August 2023, Teleperformance inaugurated a shared service center in Hyderabad, India, employing advanced AI and data analytics to deliver essential support in back-office services. These services encompass finance, human resources, IT administrative support, and workforce management.
 In March 2022, Indian Oil Corporation (IOC) collaborated with IBM Consulting to establish a shared service center dedicated to vendor invoice management. Staffed by both IBM and Indian Oil Corporation employees, this center successfully processed over 1.5 million invoices within a year.
 In January 2022, Chasey Partners, in its advisory role, recommended ISA expand and implement an enhanced shared services center. The primary objective was to elevate the company's strategic approach by transitioning away from transactional processes and placing a greater emphasis on value-added services.

Global Shared Services Centre Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – End-use, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By End-use:
Pharmaceutical and clinical
Legal
BFSI
Manufacturing
Others


By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
KPMG International Limited
Abbott
Invest Lithuania
Novartis AG
Ahlstrom
Allen & Overy LLP
PA Knowledge Limited
Ernst & Young Global Limited
Aspen Holdings
Barclays

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.