PUBLISHER: Polaris Market Research | PRODUCT CODE: 1449353
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1449353
Shared Services Center Market Share, Size, Trends, Industry Analysis Report, By End-use (Pharmaceutical & Clinical, Legal, BFSI, Manufacturing, Others), By Region, And Segment Forecasts, 2024 - 2032
The global shared services center market size is expected to reach USD 209.17 billion by 2032, according to a new study by Polaris Market Research. The report "Shared Services Center Market Share, Size, Trends, Industry Analysis Report, By End-use (Pharmaceutical & Clinical, Legal, BFSI, Manufacturing, Others), By Region, And Segment Forecasts, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
A Shared Services Center (SSC) is a specialized unit dedicated to managing specific business functions. Structured as a centralized delivery hub and service point, an SSC is tasked with overseeing and executing functions essential to the organization's operations. These functions often include areas such as security, purchasing, compliance, legal affairs, information technology (IT), payroll management, human resources (HR), and accounting. The primary goal of an SSC is to streamline and optimize these functions by consolidating them into a centralized location, promoting efficiency, cost-effectiveness, and standardized processes across the organization.
The optimistic growth prospects for the SSC market stem from the heightened demand for cost reduction and service quality improvement. When SSCs are implemented resourcefully in operational stages, they contribute to enhanced operational efficiency and reduced costs, ultimately leading to increased productivity. The deployment of an SSC framework allows companies to concentrate on refining their core operations while streamlining and consolidating support functions. This strategic focus on operational enhancement, coupled with standardized processes within the SSC, enables organizations to achieve greater efficiency, cost-effectiveness, and overall improvement in service quality.
As per estimates from the World Trade Organization (WTO), India stands among the leading global service exporters, with its share in global services trade doubling to over 4% in 2022 from 2% in 2005. Survey results reinforce the notion that shared service centers will play a central role in India solidifying its position on the global stage and attaining the country's target of achieving $400 billion in services exports for the current fiscal year. It explored the changing service delivery models embraced by the world's major corporations in response to economic challenges and the persistent inclination toward remote and hybrid work. Additionally, it unveiled the trends and strategies contributing to process optimization and cost-efficiency across various industries.
Intricacies linked to implementing such a framework are anticipated to pose challenges to industry growth. This complexity arises from the dynamic distribution of assigned tasks across multiple business units. While organizations aim to achieve cost reduction by operating in low-cost locations, doing so without the standardization of procedures is expected to elevate inefficiencies within the organization, acting as a hindrance to the establishment of the SSCs.
Shared Services Center Market Report Highlights
Others (HR, IT & procurement) segment held the largest share, owing to rising need for cost optimization through centralized operations
Pharmaceutical segment expected to grow at the fastest rate, to increase work efficiency and in-time services-oriented work
Asia Pacific held the largest share, primarily due to huge service sector in the region, employed in consulting and advisory industry
The key market players include Abbott, Ahlstrom, Allen & Overy, Aspen Holdings, Barclays, Ernst & Young Global, Intermedix, and Invest Lithuania
Polaris Market Research has segmented the shared services center market report based on end use, and region:
Shared Services Center, End Use Outlook (Revenue - USD Billion, 2019 - 2032)
- Pharmaceutical and clinical
- Legal
- BFSI
- Manufacturing
- Others
Shared Services Center, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
- 2.1. Market Highlights
3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Shared Services Center Market Insights
- 4.1. Shared Services Center Market - Industry Snapshot
- 4.2. Shared Services Center Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Growing demand from rubber and plastics industry
- 4.2.1.2. Growth of construction industry
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Issues pertaining to mining activities
- 4.2.1. Drivers and Opportunities
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Value Chain Analysis
- 4.6. Shared Services Center Industry trends
- 4.7. COVID-19 Impact Analysis
5. Global Shared Services Center Market, by End Use
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 5.3. Pharmaceutical and clinical
- 5.3.1. Global Shared Services Center Market, by Pharmaceutical and clinical, by Region, 2019-2032 (USD Billion)
- 5.4. Legal
- 5.4.1. Global Shared Services Center Market, by Legal, by Region, 2019-2032 (USD Billion)
- 5.5. BFSI
- 5.5.1. Global Shared Services Center Market, by BFSI, by Region, 2019-2032 (USD Billion)
- 5.6. Manufacturing
- 5.6.1. Global Shared Services Center Market, by Manufacturing, by Region, 2019-2032 (USD Billion)
- 5.7. Others
- 5.7.1. Global Shared Services Center Market, by Others, by Region, 2019-2032 (USD Billion)
6. Global Shared Services Center Market, by Geography
- 6.1. Key findings
- 6.2. Introduction
- 6.2.1. Shared Services Center Market Assessment, By Geography, 2019-2032 (USD Billion)
- 6.3. Shared Services Center Market - North America
- 6.3.1. North America: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.3.2. Shared Services Center Market - U.S.
- 6.3.2.1. U.S.: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.3.3. Shared Services Center Market - Canada
- 6.3.3.1. Canada: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.4. Shared Services Center Market - Europe
- 6.4.1. Europe: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.4.2. Shared Services Center Market - UK
- 6.4.2.1. UK: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.4.3. Shared Services Center Market - France
- 6.4.3.1. France: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.4.4. Shared Services Center Market - Germany
- 6.4.4.1. Germany: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.4.5. Shared Services Center Market - Italy
- 6.4.5.1. Italy: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.4.6. Shared Services Center Market - Spain
- 6.4.6.1. Spain: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.4.7. Shared Services Center Market - Netherlands
- 6.4.7.1. Netherlands: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.4.8. Shared Services Center Market - Austria
- 6.4.8.1. Austria: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.5. Shared Services Center Market - Asia Pacific
- 6.5.1. Asia Pacific: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.5.2. Shared Services Center Market - China
- 6.5.2.1. China: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.5.3. Shared Services Center Market - India
- 6.5.3.1. India: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.5.4. Shared Services Center Market - Malaysia
- 6.5.4.1. Malaysia: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.5.5. Shared Services Center Market - Japan
- 6.5.5.1. Japan: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.5.6. Shared Services Center Market - Indonesia
- 6.5.6.1. Indonesia: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.5.7. Shared Services Center Market - South Korea
- 6.5.7.1. South Korea: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.6. Shared Services Center Market - Middle East & Africa
- 6.6.1. Middle East & Africa: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.6.2. Shared Services Center Market - Saudi Arabia
- 6.6.2.1. Saudi Arabia: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.6.3. Shared Services Center Market - UAE
- 6.6.3.1. UAE: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.6.4. Shared Services Center Market - Israel
- 6.6.4.1. Israel: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.6.5. Shared Services Center Market - South Africa
- 6.6.5.1. South Africa: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.7. Shared Services Center Market - Latin America
- 6.7.1. Latin America: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.7.2. Shared Services Center Market - Mexico
- 6.7.2.1. Mexico: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.7.3. Shared Services Center Market - Brazil
- 6.7.3.1. Brazil: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- 6.7.4. Shared Services Center Market - Argentina
- 6.7.4.1. Argentina: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
7. Competitive Landscape
- 7.1. Expansion and Acquisition Analysis
- 7.1.1. Expansion
- 7.1.2. Acquisitions
- 7.2. Partnerships/Collaborations/Agreements/Exhibitions
8. Company Profiles
- 8.1. Ahlstrom
- 8.1.1. Company Overview
- 8.1.2. Financial Performance
- 8.1.3. Product Benchmarking
- 8.1.4. Recent Development
- 8.2. Allen & Overy LLP
- 8.2.1. Company Overview
- 8.2.2. Financial Performance
- 8.2.3. Product Benchmarking
- 8.2.4. Recent Development
- 8.3. Aspen Holdings
- 8.3.1. Company Overview
- 8.3.2. Financial Performance
- 8.3.3. Product Benchmarking
- 8.3.4. Recent Development
- 8.4. Barclays
- 8.4.1. Company Overview
- 8.4.2. Financial Performance
- 8.4.3. Product Benchmarking
- 8.4.4. Recent Development
- 8.5. Ernst & Young Global Limited
- 8.5.1. Company Overview
- 8.5.2. Financial Performance
- 8.5.3. Product Benchmarking
- 8.5.4. Recent Development
- 8.6. Intermedix
- 8.6.1. Company Overview
- 8.6.2. Financial Performance
- 8.6.3. Product Benchmarking
- 8.6.4. Recent Development
- 8.7. Invest Lithuania
- 8.7.1. Company Overview
- 8.7.2. Financial Performance
- 8.7.3. Product Benchmarking
- 8.7.4. Recent Development
- 8.8. KPMG International Limited
- 8.8.1. Company Overview
- 8.8.2. Financial Performance
- 8.8.3. Product Benchmarking
- 8.8.4. Recent Development
- 8.9. Nasdaq, Inc
- 8.9.1. Company Overview
- 8.9.2. Financial Performance
- 8.9.3. Product Benchmarking
- 8.9.4. Recent Development
- 8.10. Novartis AG
- 8.10.1. Company Overview
- 8.10.2. Financial Performance
- 8.10.3. Product Benchmarking
- 8.10.4. Recent Development
- 8.11. PA Knowledge Limited
- 8.11.1. Company Overview
- 8.11.2. Financial Performance
- 8.11.3. Product Benchmarking
- 8.11.4. Recent Development
- 8.12. PwC
- 8.12.1. Company Overview
- 8.12.2. Financial Performance
- 8.12.3. Product Benchmarking
- 8.12.4. Recent Development
- 8.13. Tentacle Technologies
- 8.13.1. Company Overview
- 8.13.2. Financial Performance
- 8.13.3. Product Benchmarking
- 8.13.4. Recent Development
- 8.14. Western Union Financial Services, Inc
- 8.14.1. Company Overview
- 8.14.2. Financial Performance
- 8.14.3. Product Benchmarking
- 8.14.4. Recent Development
- 8.15. WNS (Holdings) Ltd.
- 8.15.1. Company Overview
- 8.15.2. Financial Performance
- 8.15.3. Product Benchmarking
- 8.15.4. Recent Development
List of Tables
- Table 1 Global Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 2 Shared Services Center Market Assessment, By Geography, 2019-2032 (USD Billion)
- Table 3 North America: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 4 U.S.: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 5 Canada: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 6 Canada: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 7 Europe: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 8 Spain: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 9 Netherlands: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 10 Austria: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 11 Germany: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 12 Italy: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 13 France: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 14 Asia Pacific: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 15 China: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 16 Japan: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 17 India: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 18 Indonesia: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 19 South Korea: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 20 Malaysia: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 21 Latin America: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 22 Brazil: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 23 Mexico: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 24 Argentina: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 25 Middle East & Africa: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 26 South Africa: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 27 Israel: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 28 Saudi Arabia: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
- Table 29 UAE: Shared Services Center Market, by End Use, 2019-2032 (USD Billion)
List of Figures
- Figure 1 Global Shared Services Center Market, 2019-2032 (USD Billion)
- Figure 2 Integrated Ecosystem
- Figure 3 Research Methodology: Top-Down & Bottom-Up Approach
- Figure 4 Market by Geography
- Figure 5 Porter's Five Forces
- Figure 6 Market by End Use
- Figure 7 Global Shared Services Center Market, by End Use, 2022 & 2032 (USD Billion)
- Figure 8 Shared Services Center Market Assessment, By Geography, 2019-2032 (USD Billion)
- Figure 9 Strategic Analysis - Shared Services Center Market
