NEW YORK, March 23, 2023 /PRNewswire/ -- The shared services market size is forecast to grow by USD 123.64 billion between 2021 and 2026, and the growth momentum will be accelerating at a CAGR of 17.77% during the forecast period. North America will account for 35% of market growth during the forecast period. The region holds a major share of the global shared services market due to the presence of several major providers and their increasing revenue. Shared services are preferred by regional verticals such as manufacturing, healthcare, and oil and gas to improve the quality of distribution systems. Shared services have evolved into a strategic tool in North and South America to manage the increasing competition in domestic and international markets. In addition, the US federal government has developed IT guidelines specifically for implementing IT resources using shared services. The US government has placed strategic emphasis on the architectural design of information and communication technology (ICT) systems to meet future business needs. The adoption of shared services in public sector organizations will drive market growth during the forecast period. For more insights on the market size (2022 to 2026) – Request a report sample

Company Profiles

The shared services market report includes information on the key products and recent developments of leading vendors, including:

• Accenture Plc.: The company offers shared services such as Transition optimization services and Intelligent enterprise services.

• Capgemini Service SAS: The company offers centralized IT shared services such as the management of common IT infrastructure and the development of standardized applications.

• Cognizant Technology Solutions Corp.: The company offers shared services, which help organizations refocus their outputs on core functions, through its new digital technologies.

• Deloitte Touche Tohmatsu Ltd.: The company offers shared services centers, which are primarily used to reduce the cost of core business functions, such as finance, procurement, human resources, and information technology.

Market Segmentation

• By application, the market is segmented into F&A, IT, SCM, HR, and CRM. Organizations are implementing shared services to standardize and transform their financial processes and achieve economies of scale. SSC is increasingly open to F&A applications to reduce the cost structure of accounting processes such as payroll, accounts payable, and purchasing.

• By geography, the market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. In North America, shared services are preferred by industry verticals, such as manufacturing, healthcare, and oil and gas to improve the quality of distribution systems. Moreover, to combat increasing competition in domestic and international markets, shared services have evolved into a strategic tool in North and South America. This will drive the growth of the North American shared services market during the forecast period.

Market Dynamics

The market is driven by cost reduction and increasing business efficiency. Another factor driving the growth of the market is the need for business process automation. In addition, the digital transformation of SSCs will also drive the growth of the market. However, the effective design and implementation of SSCs will hinder market growth.

Competitive Analysis

The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc. Request a Sample

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What are the key data covered in this shared services market report?

• CAGR of the market during the forecast period.

• Detailed information on factors that will drive the growth of the market between 2022 and 2026

• Precise estimation of the size of the shared services market and its contribution to the parent market.

• Accurate predictions about upcoming trends and changes in consumer behavior.

• Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa.

• A thorough analysis of the market's competitive landscape and detailed information about vendors.

• Comprehensive analysis of factors that will challenge the growth of shared services market vendors.

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Table of contents:

1 Executive Summary

• 1.1 Market overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.2 Market segment analysis

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

• 4.1 Five forces summary

• 4.2 Bargaining power of buyers

• 4.3 Bargaining power of suppliers

• 4.4 Threat of new entrants

• 4.5 Threat of substitutes

• 4.6 Threat of rivalry

• 4.7 Market condition

5 Market Segmentation by Application

• 5.1 Market segments

• 5.2 Comparison by Application

• 5.3 F and A - Market size and forecast 2021-2026

• 5.4 IT - Market size and forecast 2021-2026

• 5.5 SCM - Market size and forecast 2021-2026

• 5.6 HR - Market size and forecast 2021-2026

• 5.7 CRM - Market size and forecast 2021-2026

• 5.8 Market opportunity by Application

6 Customer Landscape

• 6.1 Customer landscape overview

7 Geographic Landscape

• 7.1 Geographic segmentation

• 7.2 Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026

• 7.4 Europe - Market size and forecast 2021-2026

• 7.5 APAC - Market size and forecast 2021-2026

• 7.6 South America - Market size and forecast 2021-2026

• 7.7 Middle East and Africa - Market size and forecast 2021-2026

• 7.8 US - Market size and forecast 2021-2026

• 7.9 China - Market size and forecast 2021-2026

• 7.10 India - Market size and forecast 2021-2026

• 7.11 UK - Market size and forecast 2021-2026

• 7.12 Germany - Market size and forecast 2021-2026

• 7.13 France - Market size and forecast 2021-2026

• 7.14 Market opportunity by geography

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape

• 9.3 Landscape disruption

• 9.4 Industry risks

10 Vendor Analysis

• 10.1 Vendors covered

• 10.2 Market positioning of vendors

• 10.3 Accenture Plc

• 10.4 Capgemini Service SAS

• 10.5 Cognizant Technology Solutions Corp.

• 10.6 Deloitte Touche Tohmatsu Ltd.

• 10.7 Genpact Ltd.

• 10.8 Infosys Ltd

• 10.9 International Business Machines Corp.

• 10.10 SAP SE

• 10.11 Tata Consultancy Services Ltd.

• 10.12 Wipro Ltd

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist

• 11.3 Currency conversion rates for US$

• 11.4 Research methodology

• 11.5 List of abbreviations

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