Shared Services Center Market Size - By Service (Finance and Accounting, Human Resources, Information Technology, Procurement), By Organization Size (Large Enterprises, SMEs), By Industry, Growth Prospects, Regional Outlook & Forecast, 2024 – 2032
Published Date: March - 2025 | Publisher: MIR | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationShared Services Center Market Size - By Service (Finance and Accounting, Human Resources, Information Technology, Procurement), By Organization Size (Large Enterprises, SMEs), By Industry, Growth Prospects, Regional Outlook & Forecast, 2024 – 2032
Shared Services Center Market Size
Shared Services Center Market size was valued at USD 51.1 billion in 2023 and is anticipated to register a CAGR of over 16% between 2024 and 2032, as an increasing number of companies establish new service centers and expand their operations. This trend is driven by the pursuit of operational efficiency, cost optimization, and streamlined business processes.
To get key market trends
Download Sample Ask for Discount Request Customization
In August 2023, Teleperformance, a prominent player in digital business services globally, unveiled its cutting-edge global shared services center in Hyderabad, India. The new facility, hosting 500 employees, focused on Teleperformance's Global Business Services practice. This practice integrated advanced data analytics and next-generation AI technologies to streamline back-office services such as workforce management, technology, finance, administrative support, IT, and human resources. The inauguration of this site expanded Teleperformance's Global Business Service practice in India to encompass over 3,300 dedicated staff, reinforcing the company's commitment to providing comprehensive and innovative business solutions.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Shared Services Center Market Size in 2023 | USD 51.1 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 16% |
| 2032 Value Projection | USD 198.2 Billion |
| Historical Data for | 2018 - 2023 |
| No. of Pages | 260 |
| Tables, Charts & Figures | 288 |
| Segments covered | Service, Organization size, Industry |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Download Sample Ask for Discount Request Customization
With organizations recognizing the benefits of consolidating support functions, SSCs offer a centralized approach to delivering shared services, including finance, HR, and IT. The rising adoption reflects a strategic move towards enhancing productivity and competitiveness in the dynamic business landscape, fuelling the growth of the SSC market.
The increasing trend of companies expanding their operations globally, has fueled the demand for shared services centers. As businesses grow and establish a presence in multiple geographies, SSCs offer a centralized approach to deliver consistent and standardized services across different regions. This ensures uniformity in processes and compliance with regulations and facilitates seamless communication and coordination across diverse locations. SSCs enable companies to scale their operations globally without compromising efficiency and compliance.
In August 2023, RHI Magnesita, a global leader in the manufacturing and supply of premium refractory products, systems, and solutions, initiated operations at its Global Shared Service Centre (GSS) in India. Located in Gurugram, this marks the company's fifth global shared service center, complementing existing ones in China, Europe, and North and South America. Recognizing the increasing importance of the Indian market, RHI Magnesita strategically established the GSS in the country to deliver a comprehensive range of services across key processes such as Attract to Grow (ATG), Procure to Pay (PTP), Order to Cash (OTC), and Record to Report (RTR).
Companies are increasingly recognizing the value of focusing on their core business functions while outsourcing non-core activities to SSCs. By entrusting support functions to specialized shared services centers, organizations can redirect their internal resources and attention toward core competencies. This strategic shift allows for better resource allocation, talent concentration, and innovation within the organization. SSCs, equipped with expertise in specific business functions, contribute to the overall agility and adaptability of companies in response to market dynamics and changing business requirements.
The shared services center (SSC) market faces constraints stemming from challenges such as data security concerns, regulatory compliance complexities, and resistance to change within organizations. Implementation costs and potential disruptions during the transition phase also act as significant restraints. Additionally, the need for skilled personnel and the risk of over-centralization are factors that impede the widespread adoption of SSCs. Addressing these hurdles requires strategic planning and proactive measures to ensure a smooth and effective integration of shared services within diverse organizational frameworks.
Shared Services Center Market Trends
Shared Services Center (SSC) industry trends indicate a burgeoning global presence, with surveys conducted by leading companies showcasing a rising demand in several countries. The adoption of advanced technologies like AI and automation, coupled with a focus on enhancing customer experience, is prevalent. Companies increasingly leverage SSCs to streamline operations and boost efficiency. The data from these surveys underscores the growing recognition of shared services as a strategic business model, reflecting a paradigm shift in organizational dynamics across diverse markets worldwide.
To cite an instance, in August 2023, in a survey conducted by Deloitte, India emerged as the leading destination for global shared services, surpassing Poland and Mexico. The findings projected a significant growth trajectory for India, anticipating the establishment of over 1,900 global capability centers (GCCs) employing a workforce of 2 million and generating an impressive $60 billion in revenue. As one of the world's premier exporters of services, India was deemed poised to reinforce its global standing through the continued expansion of shared service centers, further contributing to its economic prowess and international business influence.
Shared Services Center Market Analysis
Learn more about the key segments shaping this market
Download Sample Ask for Discount Request Customization
Based on service, the finance and accounting services segment accounted for 32% of the market share in 2023, propelled by the finance and accounting sector. Organizations increasingly leverage SSCs to centralize and optimize finance and accounting services, seeking cost efficiency, standardized processes, and improved financial management. With the growing complexity of financial operations, SSCs play a pivotal role in enhancing accuracy and compliance. The demand for shared services in finance and accounting reflects a strategic move by companies to streamline operations, reduce costs, and ensure robust financial governance in an ever-evolving business landscape.
Learn more about the key segments shaping this market
Download Sample Ask for Discount Request Customization
Based on organization size, the large enterprises segment held around 67% of the shared services center market share in 2023. Recognizing the efficiency gains and cost-effectiveness, sizable corporations increasingly adopt SSCs to centralize and streamline diverse business functions. The appeal lies in consolidating support services like HR, finance, and IT, allowing large enterprises to optimize processes, reduce redundancy, and enhance overall productivity. This strategic embrace of shared services aligns with the imperative for agility and resource optimization, underscoring the pivotal role SSCs play in meeting the multifaceted needs of expansive and complex business structures.
Looking for region specific data?
Download Sample Ask for Discount Request Customization
Asia Pacific shared services center market recorded 33% of the revenue share in 2023, led by the dynamic business landscape and increasing globalization. Companies in APAC are leveraging SSCs to centralize support functions, promoting operational efficiency and cost savings. The demand is fuelled by a growing recognition of the strategic advantages offered by shared services, including streamlined processes and enhanced agility. As APAC continues to be a key economic hub, the shared services model becomes instrumental in meeting the diverse and evolving needs of businesses across the region.
Shared Services Center Market Share
KPMG and PwC hold around 9% of the total market share, as these companies in the shared services center industry are pursuing strategic initiatives to achieve growth. This involves optimizing operational efficiency by centralizing support functions like HR, finance, and IT. Leveraging advanced technologies such as AI and automation, they enhance productivity, reduce costs, and ensure standardized processes. Expansion into emerging markets and the establishment of global capability centers further contribute to sustained growth, meeting the evolving demands of modern business landscapes.
Shared Services Center Market Companies
Major companies operating in the shared services center industry are
- Accenture
- Ahlstrom
- Capgemini
- Cognizant
- Deloitte
- EY
- Infosys
- KPMG
- PwC
- Wipro
Shared Services Center Industry News
- In November 2023, consulting giant Accenture announced that it is set to invest €150 million ($160 million) in a new joint venture with Vodafone. This partnership expanded Vodafone's existing shared services unit, Vodafone Intelligent Solutions. Accenture was set to gain an undisclosed minority interest in the venture. Essentially, it's an internal restructuring aimed at simplifying operations. The shared services model centralizes services, acting as a business within the business. Vodafone CEO Margherita Della Valle assured that this move will enhance customer service, streamline operations, and foster growth.
The shared services center market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
Click here to Buy Section of this Report
Market, By Service
- Finance and accounting
- Human resources
- Information technology
- Procurement
Market, By Organization Size
- Large enterprises
- SMEs
Market, By Industry
- BFSI
- Healthcare
- Manufacturing
- IT and telecommunications
- Retail and consumer goods
- Others
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- UAE
- South Africa
- Saudi Arabia
- Rest of MEA
Related Reports
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy