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The global shared services market is fragmented with the presence of numerous vendors. Vendors are focused on offering hybrid shared service solutions to provide a mix of nearshoring and offshoring services for strategic sourcing and the fulfillment of client requirements.
Accenture Plc, Capgemini SE, Cognizant Technology Solutions Corp., Deloitte Touche Tohmatsu Ltd., Genpact Ltd., Infosys Ltd., International Business Machines Corp., SAP SE, Tata Consultancy Services Ltd., and Wipro Ltd. are identified as key market participants. Although the cost reduction and increasing business efficiency will offer immense growth opportunities, challenges associated with effective design and implementation of SSCs will hinder the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Shared Services Market 2020-2024: Segmentation Analysis
The global shared services market is segmented as below:
- Application
- Geography
- North America
- Europe
- APAC
- South America
- MEA
The F and A (finance and accounting) segment accounted for the largest market share in 2021. The increasing demand for shared services for the standardization and transformation of finance processes is driving the growth of the segment. The market growth in the segment will be significant during the forecast period.
By geography, North America will have the largest share of the market. The region currently holds 35% of the global market share. The increasing demand for F&A and HR shared services among enterprises is driving the growth of the regional market. Also, the increasing demand for shared services among public-sector organizations will be contributing to the growth of the shared services market in North America. The US is the key market for shared services in North America. Market growth in this region will be faster than the growth of the market in the South American and MEA regions.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our shared services market report covers the following areas:
Shared Services Market 2020-2024: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the shared services market. Backed with competitive intelligence and benchmarking, our research report on the shared services market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
Shared Services Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist shared services market growth during the next five years
- Estimation of the shared services market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the shared services market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of shared services market vendors
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Shared Services Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 17% |
Market growth 2020-2024 |
USD 152.38 billion |
Market structure |
Fragmented |
YoY growth (%) |
15.52 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 35% |
Key consumer countries |
US, China, UK, Germany, India, and France |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Accenture Plc, Capgemini SE, Cognizant Technology Solutions Corp., Deloitte Touche Tohmatsu Ltd., Genpact Ltd., Infosys Ltd., International Business Machines Corp., SAP SE, Tata Consultancy Services Ltd., and Wipro Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table Of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- F and A - Market size and forecast 2019-2024
- IT - Market size and forecast 2019-2024
- SCM - Market size and forecast 2019-2024
- HR - Market size and forecast 2019-2024
- CRM - Market size and forecast 2019-2024
- Market opportunity by Application
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume driver- Demand led growth
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Accenture Plc
- Capgemini SE
- Cognizant Technology Solutions Corp.
- Deloitte Touche Tohmatsu Ltd.
- Genpact Ltd.
- Infosys Ltd.
- International Business Machines Corp.
- SAP SE
- Tata Consultancy Services Ltd.
- Wipro Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
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SOURCE Technavio
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