Global Shared Service Center Market Report 2024: Trends, Strategies, And Opportunities

The Business Research Company's Shared Services Center Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, July 10, 2024 /EINPresswire.com/ -- The global shared service center (SSC) market is projected to grow from $0.09 billion in 2023 to $0.11 billion in 2024, at a compound annual growth rate (CAGR) of 23.8%. The market's historic growth is attributed to factors such as cost efficiency, standardization of processes, changes in regulatory environments, globalization, and enhanced service quality.

The shared service center market size is expected to see exponential growth, reaching $0.26 billion by 2028, with a CAGR of 23.3%. This growth in the forecast period is driven by the focus on digital transformation, rising demand for data analytics, globalization and localization strategies, and increased cybersecurity concerns.

Remote Work and Virtual Service Delivery Driving Market Growth

The demand for remote work and virtual service delivery is expected to propel the growth of the shared services center (SSC) market going forward. Remote work allows scalability, flexibility, and cost efficiency, essential for managing services across diverse locations. According to the U.S. Bureau of Labor Statistics, the percentage of remote workers surged from 24% in 2020 to 42% in 2021, underscoring a significant shift towards remote work adoption.

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Key Players and Market Trends

Major companies such as Accenture PLC, IBM Corporation, Deloitte Touche Tohmatsu Limited, and others are focusing on promoting investment in shared service centers to achieve operational excellence, cost savings, and improved service quality. For example, Advantech recently launched the ASEAN Shared Service Center as part of its strategy to expand its footprint in Southeast Asia and diversify operations.

Trends in the Forecast Period

Trends shaping the shared service center market include increased emphasis on intelligent automation, digital transformation initiatives, enhanced employee experience, adoption of hybrid work models, and advanced data security measures. These trends reflect the evolving needs of businesses to optimize operations and maintain competitiveness in a digital-first environment.

Segments

Type: Business Strategy, Operational Strategy, Other Types
Component: Software, Services, Consulting, Integration, Maintenance
End-Use: Banking, Financial services and Insurance (BFSI), Media and Entertainment, Manufacturing, Healthcare, Information Technology and Telecom, Retail and Hospitality, Other End-Users

Geographical Insights: North America Leading, Asia-Pacific Fastest-Growing

North America dominated the shared service center market in 2023, driven by early adoption and technological advancement. Asia-Pacific is expected to emerge as the fastest-growing region, fueled by increasing investments in digital infrastructure and supportive government initiatives.

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Shared Services Center Global Market Report 2024 from TBRC covers the following information:

Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Shared Services Center Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on shared services center market size, shared services center market drivers and trends, shared services center market major players, competitors' revenues, market positioning, and market growth across geographies. The shared services center market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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