SHARED SERVICES MARKET ANALYSIS

Shared Services MarketSize and Trends

Global Shared Services Market size was valued at US$ 41.37 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 23.1% from 2023 to 2030.

Global Shared Services Market- Trends

Growing trend of process efficiency, process standardization, and centralization of data: Shared services are a means to look for ways to integrate functions across organizations. Process standardization, process efficiency, and data consolidation are some of these duties. A number of advantages are offered by shared service models, including the use of technology, supporting roles, and staff cross-training. As businesses transition from separate standards tied to business units, shared services and multi-function models are in line with a growing trend towards process standardization. Additionally, integrated administration across the organization gives the enterprise leadership more prominence. For instance, according to an article published in November 2020, by SSON (Shared Services Outsourcing Network), a global analytics firm in the field of shared services, suggests that shared services lead to the benefits accruing to cost benefits and IT systems improvement within the Enterprise Resource Planning software of an organization. This leads to increased efficiency in the processes carried on in the organization.