The provision of a service by one division of an organization where that service is present in more than one division of the organization is known as a shared service. As a result, the service's financing and resources are shared, and the department that provides the service effectively turns into an internal service provider. Shared services, which meet the needs of several business divisions within the firm, are backed by IT and IT services. Shared services may also comprise a variety of business operations and IT procedures, as well as coming from different geographical locations. The main goal of shared services is to give each business division the ability to concentrate its limited resources on tasks that advance its operational objectives.

Market Dynamics

The global shared service market is anticipated to grow in importance over the course of the forecast period due to the need to reduce costs across all activities and resources. Companies are cutting their product margins to stay competitive in the market, and to make up the difference, they're striving to cut operating costs by pooling their resources across all of their many industries and geographies. A centralized service that offers benefits such as service sharing can be used. Accuracy, punctuality, aggregation of similar work across business divisions, and other standardized services. As a result, over the course of the forecast period, an increased focus on cost reduction is anticipated to fuel market expansion for shared services globally.

Key features of the study:

• This report provides an in-depth analysis of the Global Shared Services Market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading market players
• It profiles leading players in the Global Shared Services Market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
• Companies covered as a part of this study are Infosys Limited, SAP, HCL, EXL, Atos SE, Accenture, Genpact, IBM Corporation, Oracle Corporation, Cognizant, Capgemini SE, and Tata Consultancy Services Limited and Others.
• Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
• Global Shared Services market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Global Shared Services market.

Detailed Segmentation

• Global Shared Services Market, By Component:
  • Software
  • Services
  • Consulting
  • Integration
  • Maintenance
• Global Shared Services Market, By End-use:
  • Banking, Financial services and Insurance (BFSI)
  • Media and Entertainment
  • Manufacturing
  • Healthcare
  • IT and Telecom
  • Retail & Hospitality
  • Others
• Global Shared Services Market, By Deployment:
  • Cloud
  • On Premise
• Global Shared Services Market, By Region:
  • North America
    
    • U.S.
    • Canada
  • Europe
    
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa
• Company Profiles
  • Infosys Limited
  • SAP SE
  • HCL
  • EXL
  • Atos SE
  • Accenture
  • Genpact
  • IBM Corporation
  • Oracle Corporation
  • Cognizant
  • Capgemini SE
  • Tata Consultancy Services Limited.
  • Others