Shared Service Trends and Forecast
The future of the global shared service market looks promising with opportunities in the banking, financial services & insurance, media & entertainment, manufacturing, healthcare, IT & telecom, and retail & hospitality markets. The global shared service market is expected grow with a CAGR of 17.9% from 2024 to 2030. The major drivers for this market are increasing focus on lowering operating costs overall and growing need for cutting-edge ways to improve customer service.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Shared Service by Segment
The study includes a forecast for the global shared service by deployment, component, end use, and region.
Shared Service Market by Deployment [Shipment Analysis by Value from 2018 to 2030]:
• Cloud
• On Premise
Shared Service Market by Component [Shipment Analysis by Value from 2018 to 2030]:
• Software
• Services
• Consulting
• Integration
• Maintenance
Shared Service Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Banking, Financial Services & Insurance
• Media & Entertainment
• Manufacturing
• Healthcare
• IT & Telecom
• Retail & Hospitality
• Others
Shared Service Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Shared Service Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies shared service companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the shared service companies profiled in this report include-
• Infosys Limited
• SAP
• HCL
• EXL
• Atos
• Accenture
• Genpact
• IBM Corporation
• Oracle Corporation
• Cognizant
Shared Service Market Insights
Lucintel forecasts that on premise is expected to witness the higher growth over the forecast period due to increasing demand for data security and privacy.
Within this market, banking, financial services & insurance will remain the largest segment.
North America will remain the largest region over the forecast period due to existence of multiple multinational companies.
Features of the Global Shared Service Market
Market Size Estimates: Shared service market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Shared service market size by deployment, component, end use, and region in terms of value ($B).
Regional Analysis: Shared service market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different deployment, components, end uses, and regions for the shared service market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the shared service market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for shared service market?
Answer: The global shared service market is expected to grow with a CAGR of 17.9% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the shared service market?
Answer: The major drivers for this market are increasing focus on lowering operating costs overall and growing need for cutting-edge ways to improve customer service.
Q3. What are the major segments for shared service market?
Answer: The future of the shared service market looks promising with opportunities in the banking, financial services & insurance, media & entertainment, manufacturing, healthcare, IT & telecom, and retail & hospitality markets.
Q4. Who are the key shared service market companies?
Answer: Some of the key shared service companies are as follows:
• Infosys Limited
• SAP
• HCL
• EXL
• Atos
• Accenture
• Genpact
• IBM Corporation
• Oracle Corporation
• Cognizant
Q5. Which shared service market segment will be the largest in future?
Answer: Lucintel forecasts that on premise is expected to witness the higher growth over the forecast period due to increasing demand for data security and privacy.
Q6. In shared service market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to existence of multiple multinational companies.
Q.7 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the shared service market by deployment (cloud and on premise), component (software, services, consulting, integration, and maintenance), end use (banking, financial services & insurance, media & entertainment, manufacturing, healthcare, IT & telecom, retail & hospitality, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Shared Service Market, Shared Service Market Size, Shared Service Market Growth, Shared Service Market Analysis, Shared Service Market Report, Shared Service Market Share, Shared Service Market Trends, Shared Service Market Forecast, Shared Service Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.