The Global Shared Services Center Market size is estimated to be 34,137 units in 2019 and is predicted to reach 4,85,666 units by 2030 with a CAGR of 27.3% from 2020-2030. Shared services center are dedicated to executing and the handling organizations operational tasks. These tasks focus on business function including processes, people, and technologies. These services are a centralized point of service that is a spinoff the corporate services to separate all operational tasks such as human resources, payroll, compliance, purchasing, accounting, IT, legal, and security from the tasks from the corporate headquarters.
The shares service center help to reduce the costs of decentralization as well as improve the quality and professionalism of support methods for the business. The enterprises are rapidly adopting the innovative procedures for continuously improving their day-to-day dealings with the management programs to achieve the highest outcomes using the shared services center.
Market Dynamics and Trends:
To demand to achieve a high degree of strategic flexibility has increased the market share of the global shared services center market. These center provide the organizational structure with the required process flow to fully optimize and provide operational excellence to management. The shared service center providing the legal establishments are benefiting from the organization in the reduction of costs with tax benefits.
The factors including availability of low-cost qualified labor, imminent tax benefits, and increasing demand in pharmaceutical and clinical end-use has majorly driven the shared services center market. However, the complexity related to establishment and implementation of shared services center framework is hampering the growth of the shared services center market. The investment in new or expanding shared services centers will create new opportunities for the market growth in future.
Market Segmentations and Scope of the Study:
Global Shared Services Center Market share is analysed on the basis of end use and geography. On the basis of end use, the market is divided into legal, BFSI, pharmaceutical and clinical, manufacturing, and other. The regional analysis of the market comprises of North America, Europe, Asia Pacific, and Rest of the World.
Asia Pacific denotes a higher adoption of the shared services center and is anticipated hold the highest market share during the forecast period. This is attributable to the factors including lower charges of service, availability of higher educated professionals, availability of low- labor and infrastructure costs in countries, such as India, China, and Singapore.
Europe region would witness increasing market size owing to availability of skilled labor force and comprehensive knowledge of languages, well-known universities enables to have high talented peoples, and investment in new or expanding shared services centers.
Comprehensive competitive analysis and profiles of the major market players such as Barclays, Invest Lithuania, Aspen Pharma, E&Y, Tentacle Technologies, WNS, Abbott, Allen & Overy, Intermedix, NASDAQ, and Novartis are provided in the shared services center market report.
- The shared services center market report provides the quantitative analysis of the current market and estimations through 2019-2030 that assists in identifying the prevailing market opportunities to capitalize on.
- The study comprises a deep dive analysis of the current and future Shared Services Center Market trends depicting the prevalent investment pockets in the market.
- The information related to key drivers, restraints and opportunities and their impact on the shared services center market is provided in the report.
- The competitive analysis of the market players along with their market share and market size in the global shared services center market.
- The SWOT analysis and Porters Five Forces model is elaborated in the study.
- Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
KEY MARKET SEGMENTS:
- Global Shared Services Center Market – By End Use
- Pharmaceutical and Clinical
- Global Shared Services Center Market – By Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
- North America