Shared Services Market Scope
Shared services comprises people, process and technology for management of numerous business functions such as IT, accounting, legal, security, HR, purchasing, compliance and supply chain management. The growth projections for this market are bullish due to increasing demand of shared services center (SSC) within an enterprise which provide integrated point of service, location delivery, cost reduction and enhance operational efficiency.
According to AMA, the Global Shared Services market is expected to see growth rate of 15.4%
Shared services market is fragmented owing to the number of players present in the market. shared services market is growing rapidly owing to the increasing application in numerous industries such as BFSI, Legal Firms, Clinical and Pharmaceutical Sector, Manufacturing, and others. Further, companies are focusing on technological developments for better user interface expected to generate lucrative opportunities for shared service providers. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Shared Services market throughout the predicted period.
Accenture Inc. (United States), Tata Consultancy Services Limited (India), IBM (United States), Symantec Corporation (United States), Infosys Limited (India), Oracle (United States), Cognizant (United States), Hackett Group Inc. (United States), Deloitte (United States), Capgemini SE (France), McKinsey & Company, Inc. (United States), PricewaterhouseCoopers (United States), Ernst & Young Global Limited (United Kingdom) and Other are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are ACS Shared Services, Inc. (United States), SAP SE (Germany), Atos SE (France) and Others.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Shared Services market by Type (Business Strategy, Operational Strategy and Others), by Application (Project Management, Data Centers and Others) and Region with country level break-up.
On the basis of geography, the market of Shared Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 9th of January 2019, Accenture, a global consulting, technology and outsourcing services provider acquired Orbium, a Switzerland based technology consulting services provider and management consultancy to expand their business and provide inventive services to customers in wealth management and private banking.
Market Trend
- Increasing Usage of Robotic Process Automation among Enterprises
Market Drivers
- Cost Effective Solution
- Provide Location Proximity and Process Efficiency
- Increasing Application of Shared Services at Operational Platforms
Opportunities
- Rising Demand in clinical and pharmaceutical Sector
Restraints
- Difficulties in Installation Process
- Lack of Skilled Workforce to Adopt New Technologies
Challenges
- Complexity in Management of Multiple File Formats
Key Target Audience
BFSI, Legal Firms, Clinical and Pharmaceutical Sector, Manufacturing, Professional Service Providers, Government Agencies, Research Institute, Market Research Firms and Others