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Shared Services Market by Type (Business Strategy, Operational Strategy, and Others) and Application (IT, F & A, SCM, HR, CRM, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027
| A08457 | Pages: NA | Jun 2021 | 402 Views | | |
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COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Shared Services Market
Request Now !Shared Services Market Insights:
Shared services encompasses people, technology, and processes for management of various business functions such as IT, legal, accounting, security, HR, compliance, purchasing, and supply chain management. In various instances, these are separate organizational units that handle activities of support functions for corporate headquarters and its business units with the purpose of delivering high standards. in terms of efficiency and quality. The center for shared services within an enterprise is known as a shared services center (SSC), which is a dedicated unit responsible for executing and handling specific operational functions. As SSCs are considered to be cost-effective, they are highly cost-sensitive, in terms of their location selection criteria, labor costs, and headcount.Â
Shared Services Market Scope and Structure Analysis:
Report Metric | Details |
 Market size available for years |  2020–2027 |
 Base year considered |  2019 |
 Forecast period |  2021–2027 |
 Forecast units |  Value (USD) |
 Segments covered |  Type, Application, and Region |
 Regions covered | North America (US and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa |
 Companies covered | Major players analyzed include Cognizant Technology Solutions Corp., International Business Machines Corporation, Accenture Plc, Capgemini SE, SAP SE, Tata Consultancy Services Ltd., Infosys Ltd. Symantec, Oracle, and Wipro Ltd. |
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Impact of COVID-19 on Shared Services Market:Â
- The global economies have been churned by the effective shutdown enacted on businesses operations as a result of the COVID-19 pandemic.Â
- However, the situation is turned into an advantage for various global business services (GBS) centers or shared service centers (SSC), which are seizing this opportunity to offer their capabilities to adapt to novel as well as more agile operating models.
- Shared service centers are anticipated to continue concentrating on established technologies such as automation and analytics to provide robust solutions in areas such as customer retention and demand forecasting.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The shared services market is observing lucrative growth potential as enterprises around the globe are increasingly focused on declining their overall cost incurred on quality improvement and production of services offered. Implementation of SSCs at operational stages across organizations offer cost reduction and operational efficiency, along with enhanced productivity, which drives growth of the market. In addition, location proximity is one of the major driving forces in the shared services market. However, implementation of shared services is a complex process as it necessitates changes across complete business process and infrastructure of an organization.Â
The global shared service market trends are as follows:Â
Robotic process automation to help drive the market
Robotic Process Automation (RPA) is being adopted across industries due to its benefits. Amongst the next generation technologies such as artificial intelligence and machine learning, RPA is one of the technologies that is experiencing heavy shift due to benefits including high short payback period, RoI, and enhanced overall performance with reduction in cost.
RPA is enabling digital transformation into shared services. It gains significance with increased productivity and cost savings generated due to automating rules-based and repetitive processes. The application of machine learning, predictive analytics, and other technological models to RPA can lead to larger value in both generating higher level insights as well as managing back office processing.
Key segments covered:
Segments | Subsegments |
 Type |
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 Application |
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Key benefits of the report:
- This study presents the analytical depiction of the global shared services industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global shared services market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global shared service market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.Â
- The report provides a detailed global shared service market analysis based on competitive intensity and how the competition will take shape in coming years.Â
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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, web-casts and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:
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