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
The shared services market report includes information on the key products and recent developments of leading vendors, including:
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.
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?
Table of contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
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