Shared services market size to increase by USD 123.64 billion between 2021 and 2026; North America to account for 35% of market growth - Technavio

NEW YORK, March 23, 2023 /PRNewswire/ -- The shared services market size is forecast to grow by USD 123.64 billion between 2021 and 2026, and the growth momentum will be accelerating at a CAGR of 17.77% during the forecast period. North America will account for 35% of market growth during the forecast period. The region holds a major share of the global shared services market due to the presence of several major providers and their increasing revenue. Shared services are preferred by regional verticals such as manufacturing, healthcare, and oil and gas to improve the quality of distribution systems. Shared services have evolved into a strategic tool in North and South America to manage the increasing competition in domestic and international markets. In addition, the US federal government has developed IT guidelines specifically for implementing IT resources using shared services. The US government has placed strategic emphasis on the architectural design of information and communication technology (ICT) systems to meet future business needs. The adoption of shared services in public sector organizations will drive market growth during the forecast period. For more insights on the market size (2022 to 2026) – Request a report sample

Company Profiles

The shared services market report includes information on the key products and recent developments of leading vendors, including:

• Accenture Plc.: The company offers shared services such as Transition optimization services and Intelligent enterprise services.
• Capgemini Service SAS: The company offers centralized IT shared services such as the management of common IT infrastructure and the development of standardized applications. 
• Cognizant Technology Solutions Corp.: The company offers shared services, which help organizations refocus their outputs on core functions, through its new digital technologies. 
• Deloitte Touche Tohmatsu Ltd.: The company offers shared services centers, which are primarily used to reduce the cost of core business functions, such as finance, procurement, human resources, and information technology. 

Market Segmentation

• By application, the market is segmented into F&A, IT, SCM, HR, and CRM. Organizations are implementing shared services to standardize and transform their financial processes and achieve economies of scale. SSC is increasingly open to F&A applications to reduce the cost structure of accounting processes such as payroll, accounts payable, and purchasing.
• By geography, the market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. In North America, shared services are preferred by industry verticals, such as manufacturing, healthcare, and oil and gas to improve the quality of distribution systems. Moreover, to combat increasing competition in domestic and international markets, shared services have evolved into a strategic tool in North and South America. This will drive the growth of the North American shared services market during the forecast period.

Market Dynamics

The market is driven by cost reduction and increasing business efficiency. Another factor driving the growth of the market is the need for business process automation. In addition, the digital transformation of SSCs will also drive the growth of the market. However, the effective design and implementation of SSCs will hinder market growth.

Competitive Analysis

The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc. Request a Sample

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What are the key data covered in this shared services market report?

• CAGR of the market during the forecast period.
• Detailed information on factors that will drive the growth of the market between 2022 and 2026
• Precise estimation of the size of the shared services market and its contribution to the parent market.
• Accurate predictions about upcoming trends and changes in consumer behavior.
• Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa.
• A thorough analysis of the market's competitive landscape and detailed information about vendors.
• Comprehensive analysis of factors that will challenge the growth of shared services market vendors. 

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

• 5.1 Market segments
• Exhibit 24: Chart on Application - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Application - Market share 2021-2026 (%)

• 5.2 Comparison by Application 
• Exhibit 26: Chart on Comparison by Application
• Exhibit 27: Data Table on Comparison by Application

• 5.3 F and A - Market size and forecast 2021-2026 
• Exhibit 28: Chart on F and A - Market size and forecast 2021-2026 ($ billion)
• Exhibit 29: Data Table on F and A - Market size and forecast 2021-2026 ($ billion)
• Exhibit 30: Chart on F and A - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on F and A - Year-over-year growth 2021-2026 (%)

• 5.4 IT - Market size and forecast 2021-2026 
• Exhibit 32: Chart on IT - Market size and forecast 2021-2026 ($ billion)
• Exhibit 33: Data Table on IT - Market size and forecast 2021-2026 ($ billion)
• Exhibit 34: Chart on IT - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on IT - Year-over-year growth 2021-2026 (%)

• 5.5 SCM - Market size and forecast 2021-2026 
• Exhibit 36: Chart on SCM - Market size and forecast 2021-2026 ($ billion)
• Exhibit 37: Data Table on SCM - Market size and forecast 2021-2026 ($ billion)
• Exhibit 38: Chart on SCM - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on SCM - Year-over-year growth 2021-2026 (%)

• 5.6 HR - Market size and forecast 2021-2026 
• Exhibit 40: Chart on HR - Market size and forecast 2021-2026 ($ billion)
• Exhibit 41: Data Table on HR - Market size and forecast 2021-2026 ($ billion)
• Exhibit 42: Chart on HR - Year-over-year growth 2021-2026 (%)
• Exhibit 43: Data Table on HR - Year-over-year growth 2021-2026 (%)

• 5.7 CRM - Market size and forecast 2021-2026 
• Exhibit 44: Chart on CRM - Market size and forecast 2021-2026 ($ billion)
• Exhibit 45: Data Table on CRM - Market size and forecast 2021-2026 ($ billion)
• Exhibit 46: Chart on CRM - Year-over-year growth 2021-2026 (%)
• Exhibit 47: Data Table on CRM - Year-over-year growth 2021-2026 (%)

• 5.8 Market opportunity by Application 
• Exhibit 48: Market opportunity by Application ($ billion)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 50: Chart on Market share by geography 2021-2026 (%)
• Exhibit 51: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 52: Chart on Geographic comparison
• Exhibit 53: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026 
• Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026 
• Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
• Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
• Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 APAC - Market size and forecast 2021-2026 
• Exhibit 62: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
• Exhibit 63: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
• Exhibit 64: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.6 South America - Market size and forecast 2021-2026 
• Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
• Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
• Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026 
• Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ billion)
• Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ billion)
• Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 China - Market size and forecast 2021-2026 
• Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ billion)
• Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ billion)
• Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.10 India - Market size and forecast 2021-2026 
• Exhibit 82: Chart on India - Market size and forecast 2021-2026 ($ billion)
• Exhibit 83: Data Table on India - Market size and forecast 2021-2026 ($ billion)
• Exhibit 84: Chart on India - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on India - Year-over-year growth 2021-2026 (%)

• 7.11 UK - Market size and forecast 2021-2026 
• Exhibit 86: Chart on UK - Market size and forecast 2021-2026 ($ billion)
• Exhibit 87: Data Table on UK - Market size and forecast 2021-2026 ($ billion)
• Exhibit 88: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 89: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.12 Germany - Market size and forecast 2021-2026 
• Exhibit 90: Chart on Germany - Market size and forecast 2021-2026 ($ billion)
• Exhibit 91: Data Table on Germany - Market size and forecast 2021-2026 ($ billion)
• Exhibit 92: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 93: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.13 France - Market size and forecast 2021-2026 
• Exhibit 94: Chart on France - Market size and forecast 2021-2026 ($ billion)
• Exhibit 95: Data Table on France - Market size and forecast 2021-2026 ($ billion)
• Exhibit 96: Chart on France - Year-over-year growth 2021-2026 (%)
• Exhibit 97: Data Table on France - Year-over-year growth 2021-2026 (%)

• 7.14 Market opportunity by geography 
• Exhibit 98: Market opportunity by geography ($ billion)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 99: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 100: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 101: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 102: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 103: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 104: Matrix on vendor position and classification

• 10.3 Accenture Plc
• Exhibit 105: Accenture Plc - Overview
• Exhibit 106: Accenture Plc - Business segments
• Exhibit 107: Accenture Plc - Key news
• Exhibit 108: Accenture Plc - Key offerings
• Exhibit 109: Accenture Plc - Segment focus

• 10.4 Capgemini Service SAS 
• Exhibit 110: Capgemini Service SAS - Overview
• Exhibit 111: Capgemini Service SAS - Business segments
• Exhibit 112: Capgemini Service SAS - Key news
• Exhibit 113: Capgemini Service SAS - Key offerings
• Exhibit 114: Capgemini Service SAS - Segment focus

• 10.5 Cognizant Technology Solutions Corp. 
• Exhibit 115: Cognizant Technology Solutions Corp. - Overview
• Exhibit 116: Cognizant Technology Solutions Corp. - Business segments
• Exhibit 117: Cognizant Technology Solutions Corp. - Key news
• Exhibit 118: Cognizant Technology Solutions Corp. - Key offerings
• Exhibit 119: Cognizant Technology Solutions Corp. - Segment focus

• 10.6 Deloitte Touche Tohmatsu Ltd. 
• Exhibit 120: Deloitte Touche Tohmatsu Ltd. - Overview
• Exhibit 121: Deloitte Touche Tohmatsu Ltd. - Business segments
• Exhibit 122: Deloitte Touche Tohmatsu Ltd. - Key offerings
• Exhibit 123: Deloitte Touche Tohmatsu Ltd. - Segment focus

• 10.7 Genpact Ltd.
• Exhibit 124: Genpact Ltd. - Overview
• Exhibit 125: Genpact Ltd. - Business segments
• Exhibit 126: Genpact Ltd. - Key news
• Exhibit 127: Genpact Ltd. - Key offerings
• Exhibit 128: Genpact Ltd. - Segment focus

• 10.8 Infosys Ltd
• Exhibit 129: Infosys Ltd - Overview
• Exhibit 130: Infosys Ltd - Business segments
• Exhibit 131: Infosys Ltd - Key news
• Exhibit 132: Infosys Ltd - Key offerings
• Exhibit 133: Infosys Ltd - Segment focus

• 10.9 International Business Machines Corp. 
• Exhibit 134: International Business Machines Corp. - Overview
• Exhibit 135: International Business Machines Corp. - Business segments
• Exhibit 136: International Business Machines Corp. - Key offerings
• Exhibit 137: International Business Machines Corp. - Segment focus

• 10.10 SAP SE
• Exhibit 138: SAP SE - Overview
• Exhibit 139: SAP SE - Business segments
• Exhibit 140: SAP SE - Key news
• Exhibit 141: SAP SE - Key offerings
• Exhibit 142: SAP SE - Segment focus

• 10.11 Tata Consultancy Services Ltd. 
• Exhibit 143: Tata Consultancy Services Ltd. - Overview
• Exhibit 144: Tata Consultancy Services Ltd. - Business segments
• Exhibit 145: Tata Consultancy Services Ltd. - Key news
• Exhibit 146: Tata Consultancy Services Ltd. - Key offerings
• Exhibit 147: Tata Consultancy Services Ltd. - Segment focus

• 10.12 Wipro Ltd
• Exhibit 148: Wipro Ltd - Overview
• Exhibit 149: Wipro Ltd - Business segments
• Exhibit 150: Wipro Ltd - Key news
• Exhibit 151: Wipro Ltd - Key offerings
• Exhibit 152: Wipro Ltd - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 153: Inclusions checklist
• Exhibit 154: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 155: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 156: Research methodology
• Exhibit 157: Validation techniques employed for market sizing
• Exhibit 158: Information sources

• 11.5 List of abbreviations 
• Exhibit 159: List of abbreviations

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