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Global Shared Services Center Market to reach USD XX billion by the end of 2030

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

Product Code: ICTICTS-97575581
Publish Date: 29-02-2024
Page: 200

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
Invest Lithuania
Novartis AG
Allen & Overy LLP
PA Knowledge Limited
Ernst & Young Global Limited
Aspen Holdings

Recent Developments in the Market:
Ø 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.
Ø 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.
Ø 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:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – End-use, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

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

By Region:

North America


Asia Pacific
South Korea

Latin America

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

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Shared Services Centre Market, by Region, 2020-2030 (USD Billion)
1.2.2. Shared Services Centre Market, by End-use, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Shared Services Centre Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Shared Services Centre Market Dynamics
3.1. Shared Services Centre Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Adoption of Robotic Process Automation (RPA) Growing need for a higher degree of strategic flexibility
3.1.2. Market Challenges Data security and privacy concerns Integrating an SSC with existing systems
3.1.3. Market Opportunities Expansion of service offerings Adoption of cloud-based SSCs by businesses of all sizes
Chapter 4. Global Shared Services Centre Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Shared Services Centre Market, by End-use
5.1. Market Snapshot
5.2. Global Shared Services Centre Market by End-use, Performance – Potential Analysis
5.3. Global Shared Services Centre Market Estimates & Forecasts by End-use 2020-2030 (USD Billion)
5.4. Shared Services Centre Market, Sub Segment Analysis
5.4.1. Pharmaceutical and clinical
5.4.2. Legal
5.4.3. BFSI
5.4.4. Manufacturing
5.4.5. Others
Chapter 6. Global Shared Services Centre Market, Regional Analysis
6.1. Top Leading Countries
6.2. Top Emerging Countries
6.3. Shared Services Centre Market, Regional Market Snapshot
6.4. North America Shared Services Centre Market
6.4.1. U.S. Shared Services Centre Market End-use breakdown estimates & forecasts, 2020-2030
6.4.2. Canada Shared Services Centre Market
6.5. Europe Shared Services Centre Market Snapshot
6.5.1. U.K. Shared Services Centre Market
6.5.2. Germany Shared Services Centre Market
6.5.3. France Shared Services Centre Market
6.5.4. Spain Shared Services Centre Market
6.5.5. Italy Shared Services Centre Market
6.5.6. Rest of Europe Shared Services Centre Market
6.6. Asia-Pacific Shared Services Centre Market Snapshot
6.6.1. China Shared Services Centre Market
6.6.2. India Shared Services Centre Market
6.6.3. Japan Shared Services Centre Market
6.6.4. Australia Shared Services Centre Market
6.6.5. South Korea Shared Services Centre Market
6.6.6. Rest of Asia Pacific Shared Services Centre Market
6.7. Latin America Shared Services Centre Market Snapshot
6.7.1. Brazil Shared Services Centre Market
6.7.2. Mexico Shared Services Centre Market
6.8. Middle East & Africa Shared Services Centre Market
6.8.1. Saudi Arabia Shared Services Centre Market
6.8.2. South Africa Shared Services Centre Market
6.8.3. Rest of Middle East & Africa Shared Services Centre Market

Chapter 7. Competitive Intelligence
7.1. Key Company SWOT Analysis
7.1.1. Company 1
7.1.2. Company 2
7.1.3. Company 3
7.2. Top Market Strategies
7.3. Company Profiles
7.3.1. KPMG International Limited Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
7.3.2. Abbott
7.3.3. Invest Lithuania
7.3.4. Novartis AG
7.3.5. Ahlstrom
7.3.6. Allen & Overy LLP
7.3.7. PA Knowledge Limited
7.3.8. Ernst & Young Global Limited
7.3.9. Aspen Holdings
7.3.10. Barclays
Chapter 8. Research Process
8.1. Research Process
8.1.1. Data Mining
8.1.2. Analysis
8.1.3. Market Estimation
8.1.4. Validation
8.1.5. Publishing
8.2. Research Attributes
8.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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