Product Code: MCP14703
Global Shared Services Market to Reach US$165.2 Billion by 2030
The global market for Shared Services estimated at US$56.5 Billion in the year 2023, is expected to reach US$165.2 Billion by 2030, growing at a CAGR of 16.6% over the analysis period 2023-2030. Finance & Accounting End-Use, one of the segments analyzed in the report, is expected to record a 14.1% CAGR and reach US$42.2 Billion by the end of the analysis period. Growth in the Information Technology End-Use segment is estimated at 17.3% CAGR over the analysis period.
The U.S. Market is Estimated at US$15.2 Billion While China is Forecast to Grow at 15.5% CAGR
The Shared Services market in the U.S. is estimated at US$15.2 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$24.9 Billion by the year 2030 trailing a CAGR of 15.5% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 14.5% and 14.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.0% CAGR.
Global Shared Services Market - Key Trends and Drivers Summarized
Why Are Shared Services Becoming Critical for Modern Enterprises?
Shared services are becoming increasingly critical for modern enterprises as they offer a centralized approach to managing and delivering key business functions, such as finance, human resources, IT, procurement, and customer support. By consolidating these functions into shared services centers (SSCs) or global business services (GBS) models, organizations can achieve significant cost savings, process standardization, and operational efficiency. The rising need for agility, scalability, and digital transformation in a competitive business environment is driving the adoption of shared services across various industries, including BFSI, healthcare, manufacturing, retail, and telecom. Shared services models are also enabling organizations to focus on their core competencies while outsourcing non-core activities to specialized service providers.
How Are Technological Advancements and Digital Transformation Shaping the Shared Services Market?
Technological advancements and digital transformation are significantly shaping the shared services market by enhancing process automation, data analytics, and service delivery. The integration of robotic process automation (RPA), artificial intelligence (AI), and machine learning is enabling shared services centers to automate repetitive tasks, reduce errors, and accelerate turnaround times, driving greater efficiency and productivity. The use of cloud-based platforms, data analytics, and business intelligence tools is providing real-time insights into performance metrics, enabling data-driven decision-making and continuous improvement. Additionally, the shift towards agile, flexible, and outcome-based shared services models is allowing organizations to adapt to changing business needs, customer expectations, and regulatory requirements. The focus on enhancing customer experience, service quality, and knowledge management is also driving the evolution of next-generation shared services.
Which Market Segments Are Leading the Adoption of Shared Services?
Functions covered by shared services include finance and accounting, IT, SCM, human resources, procurement, customer service, and legal, with finance and accounting being the largest segment due to the high demand for standardized and automated financial processes. Applications of shared services span digital transformation, cloud migration, cybersecurity, and business continuity, with digital transformation being the leading application due to the need for agility, innovation, and cost optimization. End-users include large enterprises, small and medium enterprises (SMEs), and public sector organizations, with large enterprises being the primary adopters due to their complex business processes and global presence. Asia-Pacific is emerging as a high-growth region driven by the growing business process outsourcing (BPO) industry and digital economy.
What Are the Key Drivers of Growth in the Shared Services Market?
The growth in the shared services market is driven by several factors, including the increasing need for cost optimization, operational efficiency, and digital transformation, advancements in automation, artificial intelligence (AI), and robotic process automation (RPA), and the rising adoption of shared services models in finance, HR, IT, and procurement. The development of shared services centers with enhanced process standardization, service quality, and customer experience is driving market adoption among large enterprises, SMEs, and public sector organizations. The focus on enhancing data security, change management, and cultural integration in shared services is expanding the market reach among global business services (GBS) and multi-function shared services centers. The growing use of shared services for analytics, business intelligence, and decision support, coupled with the demand for agile, flexible, and outcome-based models, is creating new opportunities for market growth. Additionally, the increasing investments in R&D for cognitive automation, machine learning, and predictive analytics in shared services are further supporting market expansion.
Select Competitors (Total 32 Featured) -
- 3sHealth
- ActiveOps
- AEON IBS Co., Ltd.
- Avalon Software Services
- B2Finance
- B2X Care Solutions GmbH
- Beehive Solutions
- Berkley Technology Services
- Best Practice Group plc
- BSMA Europe
TABLE OF CONTENTS
I. METHODOLOGY
II. EXECUTIVE SUMMARY
- 1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Shared Services - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- 2. FOCUS ON SELECT PLAYERS
- 3. MARKET TRENDS & DRIVERS
- Technological Advancements in Automation, Artificial Intelligence (AI), and Robotic Process Automation (RPA) Propel Innovation in Shared Services
- Increasing Adoption of Shared Services Models in Finance, HR, IT, and Procurement Expands Addressable Market Opportunity
- Growth of Global Business Services (GBS) and Multi-Function Shared Services Centers Strengthens Business Case for Shared Services
- Challenges Related to Data Security, Change Management, and Cultural Integration Pose Market Constraints
- Focus on Enhancing Process Standardization, Service Quality, and Customer Experience Drives Market Adoption
- Emergence of Shared Services in Knowledge Management, Legal, and Marketing Functions Generates New Market Opportunities
- Rising Demand for Shared Services in Digital Transformation, Cloud Migration, and Cybersecurity Boosts Market Potential
- Shift Towards Agile, Flexible, and Outcome-Based Shared Services Models Expands Market Reach
- Growing Emphasis on Shared Services for Analytics, Business Intelligence, and Decision Support Spurs Market Innovation
- Focus on Developing Shared Services for Small and Medium Enterprises (SMEs) and Non-Profit Organizations Strengthens Market Position
- Rising Use of Shared Services in Combination with Outsourcing, Offshoring, and Nearshoring Strategies Creates New Opportunities
- 4. GLOBAL MARKET PERSPECTIVE
- TABLE 1: World Shared Services Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
- TABLE 2: World Recent Past, Current & Future Analysis for Shared Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 3: World 7-Year Perspective for Shared Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2024 & 2030
- TABLE 4: World Recent Past, Current & Future Analysis for Finance & Accounting by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 5: World 7-Year Perspective for Finance & Accounting by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
- TABLE 6: World Recent Past, Current & Future Analysis for Information Technology by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 7: World 7-Year Perspective for Information Technology by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
- TABLE 8: World Recent Past, Current & Future Analysis for Supply Chain Management by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 9: World 7-Year Perspective for Supply Chain Management by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
- TABLE 10: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 11: World 7-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
III. MARKET ANALYSIS
- UNITED STATES
- Shared Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
- TABLE 12: USA Recent Past, Current & Future Analysis for Shared Services by End-Use - Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 13: USA 7-Year Perspective for Shared Services by End-Use - Percentage Breakdown of Value Sales for Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses for the Years 2024 & 2030
- CANADA
- TABLE 14: Canada Recent Past, Current & Future Analysis for Shared Services by End-Use - Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 15: Canada 7-Year Perspective for Shared Services by End-Use - Percentage Breakdown of Value Sales for Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses for the Years 2024 & 2030
- JAPAN
- Shared Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
- TABLE 16: Japan Recent Past, Current & Future Analysis for Shared Services by End-Use - Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 17: Japan 7-Year Perspective for Shared Services by End-Use - Percentage Breakdown of Value Sales for Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses for the Years 2024 & 2030
- CHINA
- Shared Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
- TABLE 18: China Recent Past, Current & Future Analysis for Shared Services by End-Use - Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 19: China 7-Year Perspective for Shared Services by End-Use - Percentage Breakdown of Value Sales for Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses for the Years 2024 & 2030
- EUROPE
- Shared Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
- TABLE 20: Europe Recent Past, Current & Future Analysis for Shared Services by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 21: Europe 7-Year Perspective for Shared Services by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2024 & 2030
- TABLE 22: Europe Recent Past, Current & Future Analysis for Shared Services by End-Use - Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 23: Europe 7-Year Perspective for Shared Services by End-Use - Percentage Breakdown of Value Sales for Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses for the Years 2024 & 2030
- FRANCE
- Shared Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
- TABLE 24: France Recent Past, Current & Future Analysis for Shared Services by End-Use - Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 25: France 7-Year Perspective for Shared Services by End-Use - Percentage Breakdown of Value Sales for Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses for the Years 2024 & 2030
- GERMANY
- Shared Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
- TABLE 26: Germany Recent Past, Current & Future Analysis for Shared Services by End-Use - Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 27: Germany 7-Year Perspective for Shared Services by End-Use - Percentage Breakdown of Value Sales for Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses for the Years 2024 & 2030
- ITALY
- TABLE 28: Italy Recent Past, Current & Future Analysis for Shared Services by End-Use - Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 29: Italy 7-Year Perspective for Shared Services by End-Use - Percentage Breakdown of Value Sales for Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses for the Years 2024 & 2030
- UNITED KINGDOM
- Shared Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
- TABLE 30: UK Recent Past, Current & Future Analysis for Shared Services by End-Use - Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 31: UK 7-Year Perspective for Shared Services by End-Use - Percentage Breakdown of Value Sales for Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses for the Years 2024 & 2030
- REST OF EUROPE
- TABLE 32: Rest of Europe Recent Past, Current & Future Analysis for Shared Services by End-Use - Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 33: Rest of Europe 7-Year Perspective for Shared Services by End-Use - Percentage Breakdown of Value Sales for Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses for the Years 2024 & 2030
- ASIA-PACIFIC
- Shared Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
- TABLE 34: Asia-Pacific Recent Past, Current & Future Analysis for Shared Services by End-Use - Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 35: Asia-Pacific 7-Year Perspective for Shared Services by End-Use - Percentage Breakdown of Value Sales for Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses for the Years 2024 & 2030
- REST OF WORLD
- TABLE 36: Rest of World Recent Past, Current & Future Analysis for Shared Services by End-Use - Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 37: Rest of World 7-Year Perspective for Shared Services by End-Use - Percentage Breakdown of Value Sales for Finance & Accounting, Information Technology, Supply Chain Management and Other End-Uses for the Years 2024 & 2030
IV. COMPETITION