Shared Services Center Market is predicted to reach USD 281.2 billion at a CAGR of 22.30% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Shared Services Center Market”.

The Shared Services Center market is estimated to register a CAGR of 22.30% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Shared Services Center market— Accenture plc, Genpact Ltd., Deloitte Touche Tohmatsu Limited, Tata Consultancy Services Limited, WNS (Holdings) Ltd., CGI, Inc, Capgemini SE, Infosys Limited, EXLService Holdings, Inc., and International Business Machines Corporation

Shared Services Center Market Highlights

The global Shared Services Center market is accounted to register a CAGR of 22.30% during the forecast period and is estimated to reach USD 281.2 billion by 2032.

Cost savings is one of the main factors driving the adoption of shared services. Businesses create SSCs to combine operations and simplify workflows, which reduces operating costs by taking advantage of economies of scale and standardization. Additionally, establishing a Shared Services Center necessitates large upfront investments in technology, infrastructure, hiring personnel, and change management. For some companies, particularly smaller ones or those with fewer resources, the upfront fees may be unaffordable. Furthermore, talent development and career progression options are provided by SSCs, drawing in competent workers looking for a variety of roles, hard projects, and room to grow. Through career advancement, upskilling, and training, companies may create a highly engaged and productive staff in the SSC. Moreover, it can take time and effort to combine many systems, procedures, and corporate cultures into a cohesive SSC model. To achieve a smooth transition and operational efficiency, organizations need to negotiate integration concerns such as data transfer, technology compatibility, and cultural alignment.

Segment Analysis

The global Shared Services Center market has been segmented based on service type, service delivery model, organization size, and industry vertical.

The market is segmented by service type into finance and accounting, information technology, human resources, customer service, legal, procurement, compliance and risk management, and others. The finance and accounting segment held the largest market share in 2023. Activities associated with processing invoices, payments, collections, and credit management are managed by SSCs in the context of AP and AR. SSCs are looking to optimize cash flow management, cut cycle times, and streamline AP/AR procedures, which is driving up demand for automation solutions, invoice processing software, and payment platforms.

Based on the service delivery model, the global Shared Services Center market has been segmented into in-house shared services centers and outsourced shared services centers. In-house shared services centers segment was expected to have the largest market share in 2023. In-house SSCs facilitate cooperation, cross-functional alignment, and shared accountability for business outcomes by integrating seamlessly with internal stakeholders and core business operations. Agility and responsiveness are increased through close integration, which facilitates quicker decision-making, problem-solving, and innovation across functional areas.

Based on organization size, the global Shared Services Center market has been segmented into large enterprises, as well as small and medium enterprises (SMEs). In 2023, the large enterprises segment was anticipated to have the highest market share. Large enterprises often have diversified operations that span several business divisions, geographies, and activities, which makes back-office procedures complex and inefficient. SSCs provide major businesses with the chance to obtain economies of scale, standardize and consolidate these processes, and improve operational efficiency.

Based on industry verticals, the global shared services center market has been segmented into BFSI, healthcare and life sciences, information technology and telecommunications, retail and consumer goods, government and public sector, energy and utilities, and others. The category for BFSI was predicted to hold the largest market share in 2023. Because financial crime, cyber fraud, and identity theft are so common, BFSI firms are very concerned about fraud prevention and detection. SSCs support BFSI companies in putting anti-fraud controls, transaction monitoring systems, and fraud detection algorithms into place to spot suspicious activity, reduce risks, and safeguard clients' assets and private data.

Regional Analysis

Based on region, the global Shared Services Center market is divided into North America, Europe, Asia-Pacific, and the rest of the world. North America consists of the US and Canada. The European Shared Services Center market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Shared Services Center market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Shared Services Center market comprises the Middle East, Africa, and Latin America.

The North American regional sector maintained the largest market share for the Shared Services Center because of factors such as the existence of multiple international companies like Apple Inc., Microsoft, and Google LLC. Large amounts of resources are used by these organizations in their operations, which are crucial to the production of a lot of products and services as well as organizational data. Because of their size, many companies need to use shared services in order to remain competitive in the market. Furthermore, in order to operate more efficiently, large multinational firms have a strong tendency to apply innovative solutions. These elements are anticipated to drive the shared services market's expansion in the North American region.

Moreover, the European market has been persistently growing over the forecast period. Efficiency, creativity, and digital transformation are given top priority by European businesses in order to compete in the global market. In order to improve productivity, agility, and value creation, SSCs give businesses the ability to modernize their operations, use cutting-edge technology, and foster innovation in IT, automation, and analytics.

Additionally, Asia-Pacific is anticipated to experience the quickest growth over the forecast period. The information technology (IT) sector is expanding significantly in the region, contributing to the region's overall economic growth and spawning a multitude of new businesses across many economic sectors. As there are so many local and foreign market participants, the market in the area is quite competitive. Because of this, it is becoming more and more crucial for companies to operate economically. The demand for shared services is rising in the area for these reasons. Demand is anticipated to increase further as the industrial sector grows, propelling the shared services market's expansion in the Asia-Pacific area.

Furthermore, the Rest of the World's Shared Services Center market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's increasing government initiatives, infrastructure development, and digital transformation. SSCs help organizations mitigate risks associated with operational disruptions, regulatory compliance, and cybersecurity threats, all of which contribute to market growth.

Key Findings of the Study

• The global Shared Services Center market is expected to reach USD 281.2 billion by 2032, at a CAGR of 22.30% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market. The growing middle class and consumer market in Asia-Pacific drive demand for products and services, which affects several industries, including manufacturing, technology, retail, healthcare, and finance. SSCs help businesses maintain cost-effective operations and service excellence while meeting the increasing demands of stakeholders and customers.


• Based on service type, the finance and accounting segment was attributed to holding the largest market in 2023.


• Accenture plc, Genpact Ltd., Deloitte Touche Tohmatsu Limited, Tata Consultancy Services Limited, WNS (Holdings) Ltd., CGI, Inc, Capgemini SE, Infosys Limited, EXLService Holdings, Inc., and International Business Machines Corporation are the key market players.