Shared Services Market, By Component (Software, Services, Consulting, Integration, Maintenance), By End-use (Banking, Financial services and Insurance (BFSI), Media and Entertainment, Manufacturing, Healthcare, IT and Telecom, Retail & Hospitality and Oth

Shared Services Market, By Component (Software, Services, Consulting, Integration, Maintenance), By End-use (Banking, Financial services and Insurance (BFSI), Media and Entertainment, Manufacturing, Healthcare, IT and Telecom, Retail & Hospitality and Others), By Deployment (Cloud and On Premise)and By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Share services refer to managing single or multiple business units by sharing resources and information among different business units of a company. In the other words Shared service is the provision of a service by one part of an organization where that service has been found in more than one part of the organization. Use of share services provides benefits which includes share services are cost-effective since they centralize back-office operations that are utilized by multiple divisions of the same company thereby minimizing the redundancy. Shared services are supported by IT and IT services and cater to requirements for diverse business units within the enterprise. Moreover, primary objective of shared services is to enable every business division to focus its limited resources on activities that support the division’s business goals.

Market Dynamics

Growing importance of cost reduction in overall operations and resources is expected to drive the global shared service market in the forecast period. To remain competitive in the market company are reducing their product margin and to fill that gap company are trying to reduce the operation cost by sharing company’s resources across the companies various domains and regions. Sharing services can be achieved by centralized service which provides benefit includes Standardized services, accuracy, and timeliness, consolidation of the same tasks across lines of business and others. Therefore, increasing focus cost reduction is expected to drive the global shared services market growth over the forecast period.

However, increasing complexity of implementing sharing services and high implementing cost are these factors are expected to hamper the growth global shared services market over the forecast period. Sharing services requires modern infrastructure and highly skilled IT professionals to implement the shared services in the company. Due high investment SMEs are hesitating to adopt the shared services.

Market Taxonomy

This report segments the global shared services market on the basis of component, End-user, deployment and region. On the basis of component, global shared services market is segmented into software and services and on the basic of services market is segmented into consulting, integration and maintenance. On the basis of end-user, the global shared services market is segmented into Banking, Financial services and Insurance (BFSI), Media and Entertainment, Manufacturing, Healthcare, IT and Telecom, Retail & Hospitality and Others. On the basis of deployment, the global shared services market is segmented into Cloud, On Premise. On the basis of region, global shared services market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

This report provides an in-depth analysis of the global shared services market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2022-2028), considering 2021 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
It profiles leading players in the global shared services market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Key companies covered in the global shared services market includes Infosys Limited, SAP, HCL, EXL, Atos SE, Accenture, Genpact, IBM Corporation, Oracle Corporation, Cognizant, Capgemini SE, and Tata Consultancy Services Limited.
These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
The global shared services market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global shared services market.

Detailed Segmentation:

Global Shared Services Market By Component
Software
Services
Consulting
Integration
Maintenance
Global Shared Services Market By End-use
Banking, Financial services and Insurance (BFSI)
Media and Entertainment
Manufacturing
Healthcare
IT and Telecom
Retail & Hospitality
Others
Global Shared Services Market By Deployment
Cloud
On Premise
Global Shared Services Market By Region
North America
Europe
Asia-Pacific
Middle-East and Africa
Latin America
Company Profiles
Infosys Limited*
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments
Future Plans
SAP SE
HCL
EXL
Atos SE
Accenture
Genpact
IBM Corporation
Oracle Corporation
Cognizant
Capgemini SE
Tata Consultancy Services Limited.

*Browse all the market data tables and figures on “Global Shared Services Market- Forecast to 2027”