Market Overview
Share services refer to managing single or multiple business units by sharing resources and information among different business units of a company. In other words, shared services are the consolidation of business operations that are used by numerous parts of the same organization. Share services are cost-effective since they centralize back-office operations that are utilized by multiple divisions of the same company thereby minimizing the redundancy. The shared service model focuses on defined business functions, centralized service, and single delivery location. This model caters to the requirement of diver business units within the enterprise and is supported by information technology and its services. The primary objective of shared services is to enable every business division to focus its limited resources on activities that support the division’s business goals.
The global shared services market was valued US$ 28.79 Bn in 2019 and expected to reach US$ 98.17 Bn by 2027.

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Market Dynamics- Drivers
Growing emphasis on cost reduction in overall operations is expected to drive growth of the global shared services market during the forecast period
The operational processes in the companies have witnessed a massive transition in the recent past. Management is now focused on a cost-based approach instead of a transaction-based approach. As of now, there is a need for cost reduction which can be achieved through the centralization of data. Furthermore, organizations are laying emphasis on the processes, which would align operations with a corporate strategy, enhance quality, improve service, reduce redundant or obsolete tasks, and minimize administration cost. Standardized services, accuracy, and timeliness, consolidation of the same tasks across lines of business and legal entities are the factors that affect companies' operations. Therefore, increasing focus cost reduction is expected to drive the global shared services market growth over the forecast period.
Rising demand for enhancing customer service is expected to propel the global shared service market growth over the forecast period
In any industry, good customer service plays a crucial role and helps the company to grow further and strengthen its brand in the market. Customer service is a major process offered through shared services. Thus, by using expertise on customer service executives from the shared service process, companies can focus on their core competencies. Hence, these factors are expected to support the market growth in the near future.

Market Opportunities

Legal end-use segment can provide major growth opportunities for market players
The primary role of a company’s legal function is to protect the company’s rights and advocate its interest. Emergence of new technologies and growing need for cost reduction has accelerated the adoption of shared services in legal end-use in the recent past. It has compelled companies’ legal department to change their conventional business approach. Some of the advantages of legal shared services are dispute avoidance, alternative dispute resolution, subject matter expertise. Thus, legal shared services allow companies to resolve any internal dispute. These disputes are handled through third-party point of view and there are fewer chances of influence of any party.
Massive growth opportunities in emerging markets
Growing need for reducing costs and enhancing quality of services is accelerating growth of the market. This is achieved in emerging and new countries due to the availability of skilled resources at a low cost. Moreover, a company improves its capability to respond to growth opportunities by establishing shared services centers in emerging and new markets. The global shared service market is growing at a rapid pace in emerging economies, owing to the advantages of setting shared service centers, irrespective of skill shortages, language barriers, time zone differences, and regulatory compliance.

Market Taxonomy
This report segments the global shared services market on the basis of component, End-user, deployment and region. On the basis of component, global shared services market is segmented into software and services and on the basic of services market is segmented into consulting, integration and maintenance. On the basis of end-user, the global shared services market is segmented into Banking, Financial services and Insurance (BFSI), Media and Entertainment, Manufacturing, Healthcare, IT and Telecom, Retail & Hospitality and Others. On the basis of deployment, the global shared services market is segmented into Cloud, On Premise. On the basis of region, global shared services market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:
• This report provides an in-depth analysis of the global shared services market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
• It profiles leading players in the global shared services market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
• The global shared services market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global shared services market.

Detailed Segmentation:

Global Shared Services Market By Component
• Software
• Services
• Consulting
• Integration
• Maintenance
Global Shared Services Market By End-use
• Banking, Financial services and Insurance (BFSI)
• Media and Entertainment
• Manufacturing
• Healthcare
• IT and Telecom
• Retail & Hospitality
• Others
Global Shared Services Market By Deployment
• Cloud
• On Premise

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Competitive Section
Key players operating in the global shared services market are Infosys Limited, SAP, HCL, EXL, Atos SE, Accenture, Genpact, IBM Corporation, Oracle Corporation, Cognizant, Capgemini SE, and Tata Consultancy Services Limited.

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