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Global Shared Services Center Market Opportunities and Forecast 2020-2027

  • DLR2606
  • 11 September, 2021
  • Service & Software
  • Pages: 120
  • Global
Global Shared Services Center Market, By End-User (Pharmaceutical & Clinical, Legal, BFSI, Manufacturing), and opportunities and forecast 2020-2027

Shared Services Center Market Overview

A shared services center (SSC) is the hub for shared services within an enterprise. It is a dedicated unit accountable for execution and handling specific operational tasks such as human resources, accounting, payroll, IT, compliance, legal, purchasing, security, and others. Additionally, these SSCs are often considered spin-offs of corporate services. As SSCs are intended to be cost-effective, they are extremely cost-sensitive in terms of their labor costs, location selection criteria, and headcount. 
 
The shared services center market is showing lucrative growth potential as enterprises around the world increasingly focus on reducing the overall cost incurred on production and improving the quality of the services delivered. In addition, ingenious implementation of SSCs at operation stages results in better operational efficiency and cost reduction, along with improved productivity. Further, installing SSC framework, helps companies focus on improving their core operations. Each of these factors is anticipated to have a definite impact on the Shared Services Center market throughout the forecast period. Furthermore, the clinical and pharmaceutical sectors occupied a substantial share of the global shared services center market. The rapidly increasing demand for cost-effective treatment modalities and redesigning the traditional pharmaceutical R&D model is estimated to boost demand from the global shared services center market. 
 
Covid-19 Impact on Shared Services Center Market

Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.
 
Shared Services Center Market Segment Overview
 
According to End-User, the Legal segment is anticipated to have the largest share of the SSC market during the forecast period. In the last few years, the arrival of the latest technologies, coupled with growing demand for reduction of costs in the wake of the global economic downturn, has encouraged law firms and corporate legal departments to replace their traditional business approach with shared services and outsourcing. Additionally, the BFSI segment has a significant share in the global shared services center market and is predicted to keep its position in the forecast period. The emerging trend among leading enterprises to boost their global presence and improve customer satisfaction will fuel demand from the BFSI segment.
 
Shared Services Center Market, By End-User
·       Pharmaceutical & Clinical
·       Legal
·       BFSI
·       Manufacturing
 
Shared Services Center Market Regional Overview

Geographically, the Shared Services Center market in the Asia Pacific is projected to witness considerable growth in the forecast period. This growth can be attributed to factors such as lower charges in the region because this region offers a big pool of young English-speaking professionals coupled with relatively low wages and infrastructure costs. Additionally, Close-knit cultural homogeneity and low-cost arbitrage in the region have made Asia Pacific one of the most lucrative regional markets for SSC. Additionally, the availability of a highly skilled workforce at lower wages across developing countries in Eastern Europe and the Asia Pacific is projected to boost the global shared services center market. 
 
Shared Services Center Market, By Geography
 
·       North America (US & Canada)
·       Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
·       Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
·       LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)

Shared Services Center Market Competitor overview

Some key developments and strategies adopted by manufacturers in Shared Services Center are highlighted below.

·       In September 2021, Westinghouse Electric Company officially opened its Global Shared Services Center in Krakow. With this new facility, Poland becomes a global services hub for the company. Located in Zablocie Business Park B, the facility will have nearly 160 highly qualified employees from seven business functions that will work to support the company's global operations.

Shared Services Center Market, Key Players

·       Abbott
·       Allen & Overy
·       Barclays
·       Invest Lithuania
·       Novartis
·       Western Union
·       Ahlstrom
·       Aspen Pharma
·       E&Y
·       Intermedix
·       NASDAQ
·       PA Consulting Group
·       PwC
·       Tentacle Technologies
·       WNS
·       KPMG

Shared Services Center Market Study Global Market Analysis, Insights and Forecast, 2020-2027

    1. Introduction

    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions

    2. Executive Summary

      3. Market Dynamics

      • 3.1. Market Drivers
      • 3.2. Market Restraints
      • 3.3. Market Opportunities

      4. Key Insights

      • 4.1. Key Emerging Trends – For Major Countries
      • 4.2. Latest Technological Advancement
      • 4.3. Regulatory Landscape
      • 4.4. Industry SWOT Analysis
      • 4.5. Porters Five Forces Analysis

      5. Global Shared Services Center Market Analysis (USD Billion), Insights and Forecast, 2020-2027

      • 5.1. Key Findings / Summary
      • 5.2. Market Analysis, Insights and Forecast – By End-User
        • 5.2.1. Pharmaceutical & Clinical
        • 5.2.2. Legal
        • 5.2.3. BFSI
        • 5.2.4. Manufacturing
      • 5.3. Market Analysis, Insights and Forecast – By Region
        • 5.3.1. North America
        • 5.3.2. Europe
        • 5.3.3. Asia Pacific
        • 5.3.4. Latin America, Middle East and Africa

      6. North America Shared Services Center Market Analysis (USD Billion), Insights and Forecast, 2020-2027

      • 6.1. Key Findings / Summary
      • 6.2. Market Analysis, Insights and Forecast – By End-User
        • 6.2.1. Pharmaceutical & Clinical
        • 6.2.2. Legal
        • 6.2.3. BFSI
        • 6.2.4. Manufacturing
      • 6.3. Market Analysis, Insights and Forecast – By Country
        • 6.3.1. U.S.
        • 6.3.2. Canada

      7. Europe Shared Services Center Market Analysis (USD Billion), Insights and Forecast, 2020-2027

      • 7.1. Key Findings / Summary
      • 7.2. Market Analysis, Insights and Forecast – By End-User
        • 7.2.1. Pharmaceutical & Clinical
        • 7.2.2. Legal
        • 7.2.3. BFSI
        • 7.2.4. Manufacturing
      • 7.3. Market Analysis, Insights and Forecast – By Country
        • 7.3.1. UK
        • 7.3.2. Germany
        • 7.3.3. France
        • 7.3.4. Italy
        • 7.3.5. Spain
        • 7.3.6. Russia
        • 7.3.7. Rest of Europe

      8. Asia Pacific Shared Services Center Market Analysis (USD Billion), Insights and Forecast, 2020-2027

      • 8.1. Key Findings / Summary
      • 8.2. Market Analysis, Insights and Forecast – By End-User
        • 8.2.1. Pharmaceutical & Clinical
        • 8.2.2. Legal
        • 8.2.3. BFSI
        • 8.2.4. Manufacturing
      • 8.3. Market Analysis, Insights and Forecast – By Country
        • 8.3.1. China
        • 8.3.2. India
        • 8.3.3. Japan
        • 8.3.4. Australia
        • 8.3.5. South East Asia
        • 8.3.6. Rest of Asia Pacific

      9. Latin America, Middle East and Africa Shared Services Center Market Analysis (USD Billion), Insights and Forecast, 2020-2027

      • 9.1. Key Findings / Summary
      • 9.2. Market Analysis, Insights and Forecast – By End-User
        • 9.2.1. Pharmaceutical & Clinical
        • 9.2.2. Legal
        • 9.2.3. BFSI
        • 9.2.4. Manufacturing
      • 9.3. Market Analysis, Insights and Forecast – By Country
        • 9.3.1. Brazil
        • 9.3.2. Saudi Arabia
        • 9.3.3. UAE
        • 9.3.4. Rest of LAMEA

      10. Competitive Analysis

      • 10.1. Company Market Share Analysis, 2018
      • 10.2. Key Industry Developments
      • 10.3. Company Profile
      • 10.4. Abbott
        • 10.4.1. Business Overview
        • 10.4.2. Segment 1 & Service Offering
        • 10.4.3. Overall Revenue
        • 10.4.4. Geographic Presence
        • 10.4.5. Recent Development
      *Similar details will be provided for the following companies
      • 10.5. Allen & Overy
      • 10.6. Barclays
      • 10.7. Invest Lithuania
      • 10.8. Novartis
      • 10.9. Western Union
      • 10.10. Ahlstrom
      • 10.11. Aspen Pharma
      • 10.12. E&Y
      • 10.13. Intermedix
      • 10.14. NASDAQ
      • 10.15. PA Consulting Group
      • 10.16. PwC
      • 10.17. Tentacle Technologies
      • 10.18. WNS
      List of Figures

      Figure 1: Global Shared Services Center Market Revenue Breakdown (USD Billion, %) by Region, 2019 & 2027
      Figure 2: Global Shared Services Center Market Value Share (%), By Segment 1, 2019 & 2027
      Figure 3: Global Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 4: Global Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 5: Global Shared Services Center Market Value Share (%), By Segment 2, 2019 & 2027
      Figure 6: Global Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 7: Global Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 8: Global Shared Services Center Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
      Figure 9: Global Shared Services Center Market Forecast (USD Billion), by Others, 2016-2027
      Figure 10: Global Shared Services Center Market Value Share (%), By Segment 3, 2019 & 2027
      Figure 11: Global Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 12: Global Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 13: Global Shared Services Center Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
      Figure 14: Global Shared Services Center Market Forecast (USD Billion), by Others, 2016-2027
      Figure 15: Global Shared Services Center Market Value (USD Billion), by Region, 2019 & 2027
      Figure 16: North America Shared Services Center Market Value Share (%), By Segment 1, 2019 & 2027
      Figure 17: North America Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 18: North America Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 19: North America Shared Services Center Market Value Share (%), By Segment 2, 2019 & 2027
      Figure 20: North America Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 21: North America Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 22: North America Shared Services Center Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
      Figure 23: North America Shared Services Center Market Forecast (USD Billion), by Others, 2016-2027
      Figure 24: North America Shared Services Center Market Value Share (%), By Segment 3, 2019 & 2027
      Figure 25: North America Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 26: North America Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 27: North America Shared Services Center Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
      Figure 28: North America Shared Services Center Market Forecast (USD Billion), by Others, 2016-2027
      Figure 29: North America Shared Services Center Market Forecast (USD Billion), by U.S., 2016-2027
      Figure 30: North America Shared Services Center Market Forecast (USD Billion), by Canada, 2016-2027
      Figure 31: Latin America Shared Services Center Market Value Share (%), By Segment 1, 2019 & 2027
      Figure 32: Latin America Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 33: Latin America Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 34: Latin America Shared Services Center Market Value Share (%), By Segment 2, 2019 & 2027
      Figure 35: Latin America Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 36: Latin America Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 37: Latin America Shared Services Center Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
      Figure 38: Latin America Shared Services Center Market Forecast (USD Billion), by Others, 2016-2027
      Figure 39: Latin America Shared Services Center Market Value Share (%), By Segment 3, 2019 & 2027
      Figure 40: Latin America Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 41: Latin America Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 42: Latin America Shared Services Center Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
      Figure 43: Latin America Shared Services Center Market Forecast (USD Billion), by Others, 2016-2027
      Figure 44: Latin America Shared Services Center Market Forecast (USD Billion), by Brazil, 2016-2027
      Figure 45: Latin America Shared Services Center Market Forecast (USD Billion), by Mexico, 2016-2027
      Figure 46: Latin America Shared Services Center Market Forecast (USD Billion), by Rest of Latin America, 2016-2027
      Figure 47: Europe Shared Services Center Market Value Share (%), By Segment 1, 2019 & 2027
      Figure 48: Europe Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 49: Europe Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 50: Europe Shared Services Center Market Value Share (%), By Segment 2, 2019 & 2027
      Figure 51: Europe Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 52: Europe Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 53: Europe Shared Services Center Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
      Figure 54: Europe Shared Services Center Market Forecast (USD Billion), by Others, 2016-2027
      Figure 55: Europe Shared Services Center Market Value Share (%), By Segment 3, 2019 & 2027
      Figure 56: Europe Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 57: Europe Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 58: Europe Shared Services Center Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
      Figure 59: Europe Shared Services Center Market Forecast (USD Billion), by Others, 2016-2027
      Figure 60: Europe Shared Services Center Market Forecast (USD Billion), by U.K., 2016-2027
      Figure 61: Europe Shared Services Center Market Forecast (USD Billion), by Germany, 2016-2027
      Figure 62: Europe Shared Services Center Market Forecast (USD Billion), by France, 2016-2027
      Figure 63: Europe Shared Services Center Market Forecast (USD Billion), by Italy, 2016-2027
      Figure 64: Europe Shared Services Center Market Forecast (USD Billion), by Spain, 2016-2027
      Figure 65: Europe Shared Services Center Market Forecast (USD Billion), by Russia, 2016-2027
      Figure 66: Europe Shared Services Center Market Forecast (USD Billion), by Rest of Europe, 2016-2027
      Figure 67: Asia Pacific Shared Services Center Market Value Share (%), By Segment 1, 2019 & 2027
      Figure 68: Asia Pacific Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 69: Asia Pacific Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 70: Asia Pacific Shared Services Center Market Value Share (%), By Segment 2, 2019 & 2027
      Figure 71: Asia Pacific Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 72: Asia Pacific Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 73: Asia Pacific Shared Services Center Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
      Figure 74: Asia Pacific Shared Services Center Market Forecast (USD Billion), by Others, 2016-2027
      Figure 75: Asia Pacific Shared Services Center Market Value Share (%), By Segment 3, 2019 & 2027
      Figure 76: Asia Pacific Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 77: Asia Pacific Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 78: Asia Pacific Shared Services Center Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
      Figure 79: Asia Pacific Shared Services Center Market Forecast (USD Billion), by Others, 2016-2027
      Figure 80: Asia Pacific Shared Services Center Market Forecast (USD Billion), by China, 2016-2027
      Figure 81: Asia Pacific Shared Services Center Market Forecast (USD Billion), by India, 2016-2027
      Figure 82: Asia Pacific Shared Services Center Market Forecast (USD Billion), by Japan, 2016-2027
      Figure 83: Asia Pacific Shared Services Center Market Forecast (USD Billion), by Australia, 2016-2027
      Figure 84: Asia Pacific Shared Services Center Market Forecast (USD Billion), by Southeast Asia, 2016-2027
      Figure 85: Asia Pacific Shared Services Center Market Forecast (USD Billion), by Rest of Asia Pacific, 2016-2027
      Figure 86: Middle East & Africa Shared Services Center Market Value Share (%), By Segment 1, 2019 & 2027
      Figure 87: Middle East & Africa Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 88: Middle East & Africa Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 89: Middle East & Africa Shared Services Center Market Value Share (%), By Segment 2, 2019 & 2027
      Figure 90: Middle East & Africa Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 91: Middle East & Africa Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 92: Middle East & Africa Shared Services Center Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
      Figure 93: Middle East & Africa Shared Services Center Market Forecast (USD Billion), by Others, 2016-2027
      Figure 94: Middle East & Africa Shared Services Center Market Value Share (%), By Segment 3, 2019 & 2027
      Figure 95: Middle East & Africa Shared Services Center Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
      Figure 96: Middle East & Africa Shared Services Center Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
      Figure 97: Middle East & Africa Shared Services Center Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
      Figure 98: Middle East & Africa Shared Services Center Market Forecast (USD Billion), by Others, 2016-2027
      Figure 99: Middle East & Africa Shared Services Center Market Forecast (USD Billion), by GCC, 2016-2027
      Figure 100: Middle East & Africa Shared Services Center Market Forecast (USD Billion), by South Africa, 2016-2027
      Figure 101: Middle East & Africa Shared Services Center Market Forecast (USD Billion), by Rest of Middle East & Africa, 2016-2027 
      List of Tables
      Table 1: Global Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
      Table 2: Global Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
      Table 3: Global Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
      Table 4: Global Shared Services Center Market Revenue (USD Billion) Forecast, by Region, 2016-2027
      Table 5: North America Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
      Table 6: North America Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
      Table 7: North America Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
      Table 8: North America Shared Services Center Market Revenue (USD Billion) Forecast, by Country, 2016-2027
      Table 9: Europe Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
      Table 10: Europe Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
      Table 11: Europe Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
      Table 12: Europe Shared Services Center Market Revenue (USD Billion) Forecast, by Country, 2016-2027
      Table 13: Latin America Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
      Table 14: Latin America Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
      Table 15: Latin America Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
      Table 16: Latin America Shared Services Center Market Revenue (USD Billion) Forecast, by Country, 2016-2027
      Table 17: Asia Pacific Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
      Table 18: Asia Pacific Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
      Table 19: Asia Pacific Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
      Table 20: Asia Pacific Shared Services Center Market Revenue (USD Billion) Forecast, by Country, 2016-2027
      Table 21: Middle East & Africa Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
      Table 22: Middle East & Africa Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
      Table 23: Middle East & Africa Shared Services Center Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
      Table 24: Middle East & Africa Shared Services Center Market Revenue (USD Billion) Forecast, by Country, 2016-2027

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