Shared Services Center Market Report 2024 – Shared Services Center Market Insights And Trends

The shared services center global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Shared Services Center Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –
The shared service center market size has grown exponentially in recent years. It will grow from $0.09 billion in 2023 to $0.11 billion in 2024 at a compound annual growth rate (CAGR) of 23.8%. The growth in the historic period can be attributed to cost efficiency, standardization of processes, change in regulatory environment, globalization and expansion, enhanced service quality.

The shared service center market size is expected to see exponential growth in the next few years. It will grow to $0.26 billion in 2028 at a compound annual growth rate (CAGR) of 23.3%. The growth in the forecast period can be attributed to focus on digital transformation, rising demand for data analytics, globalization and localization strategies, increased cybersecurity concerns. Major trends in the forecast period include increased emphasis on intelligent automation, focus on digital transformation, enhanced employee experience, hybrid work models, advanced data security measures.

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Scope Of Shared Services Center Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Shared Services Center Market Overview

Market Drivers –
The demand for remote work and virtual service delivery is expected to propel the growth of the shared services center (SSC) market going forward. Remote work refers to the practice of working outside a traditional office environment, often from home or any location with internet access. Virtual service delivery, on the other hand, refers to providing services without physical, face-to-face interactions. Due to the widespread acceptance of remote work, shared service centers offer scalability, flexibility, and cost efficiency, making it easier to manage and maintain services regardless of employee location. For instance, in March 2022, according to the U.S. Bureau of Labor Statistics, a U.S.-based government organization, the number of people working remotely increased from 24% in 2020 to 42% in 2021. Therefore, the demand for remote work and virtual service delivery is expected to propel the growth of the shared services center (SSC) market.

Market Trends –
Major companies operating in the shared services center market are focusing on promoting investment towards the development of shared service center. Investments in shared service centers are driven by the desire to achieve operational excellence, cost savings, improved service quality, and strategic advantages. For instance, in January 2024, Advantech, a Taiwan-based technology corporation, launched ASEAN Shared Service Center. The center will offer Advantech’s clients in the ASEAN area services, such as supply chain management, finance, and human resources. The center’s construction is a component of Advantech’s “”China+1″” strategy, which aims to increase its footprint in Southeast Asia and diversify its operations while lowering risks. Additionally, by offering localized support and expertise, the center will assist Advantech in better serving its clients in the area.

The shared services center market covered in this report is segmented –

1) By Type: Business Strategy, Operational Strategy, Other Types
2) By Component: Software, Services, Consulting, Integration, Maintenance
3) By End-Use: Banking, Financial services and Insurance (BFSI), Media and Entertainment, Manufacturing, Healthcare, Information Technology and Telecom, Retail and Hospitality, Other End-Users

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Regional Insights –
North America was the largest region in the shared service center market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the shared services center market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –
Major companies operating in the shared services center market are Accenture PLC, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited , Novartis International AG , Abbott Laboratories , Oracle Corporation, KPMG, Broadcom Inc. , SAP SE, Barclays PLC , Tata Consultancy Services Limited, Capgemini, Cognizant Technology Solutions Corp., Infosys Ltd., HCL Technologies Limited, Atos SE, Wipro Ltd., Nasdaq Inc., Western Union Financial Services Inc., Genpact Limited, Ahlstrom, Allen & Overy LLP, EXL Service Holdings Inc., Aspen Technology Inc., Intermedix Inc., PA Consulting Group Limited, Invest Lithuania

Table of Contents
1. Executive Summary
2. Shared Services Center Market Report Structure
3. Shared Services Center Market Trends And Strategies
4. Shared Services Center Market – Macro Economic Scenario
5. Shared Services Center Market Size And Growth
…..
27. Shared Services Center Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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