Shared Services Market Report 2025 (Global Edition)

Global Shared Services Market Report 2025 Market Size Split by Component (Software, Services, Consulting, Integration, Maintenance), by End-use (Banking Financial services and Insurance (BFSI), Media ...

Shared Services Market Report Description

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Shared Services Market Insights Video

Competitive Landscape of the Shared Services Market

In the Shared Services market's competitive landscape, numerous key competitors are driving innovation and growth. Local manufacturing, or the Shared Services Center market, boosts the market sector and benefits consumers by bringing down operational costs. The Shared Services Center industry has recently provided some of the largest medical benefits. Market rivalry is encouraging technological and design innovations to create Shared Services that fulfill both consumer wants and sustainability goals, keeping the market dynamic and competitive.

In December 2022, Global legal firm Freshfields announced the opening of its new shared business service center in Bratislava, Slovakia. The firm serves customers worldwide. This new shared service center would be a component of the business's integrated infrastructure. (Source: https://www.freshfields.com/en-gb/news/2022/12/freshfields-launches-new-shared-business-services-centre-in-bratislava-slovakia/) In May 2023, The Shared Services Platform, which provides a range of services to assist businesses in the direct selling sector, was recently launched by Sharing Services Global Corporation, a multinational corporation involved in the provision of developing business technologies. (Source: https://www.capgemini.com/consulting-fr/wp-content/uploads/sites/31/2017/08/shared_services_what_global_campanies_do.pdf) In February 2022, Chasey Partners advised ISA to expand and implement their shared services center. The aim was to improve the company's strategic thinking by moving away from transaction processes and focusing on value-added services. (Source: https://chazeypartners.com/chazey-partners-advises-isa-to-implement-and-expand-their-shared-services-center/)

Top Companies Market Share in Shared Services Industry: (In no particular order of Rank)

• Ahlstrom
• Allen & Overy LLP
• Aspen Holdings
• Barclays
• Ernst & Young Global Limited
• Intermedix
• Invest Lithuania
• KPMG International Limited
• Nasdaq Inc.
• Novartis AG
• PA Knowledge Limited
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Shared Services Market

Which Region Dominates the Shared Services Market in 2024?

According to Cognitive Market Research, North America currently dominates the Shared Services market, and the region is expected to have significant growth during the projected period. Large amounts of resources are used by these organizations in their operations, which are crucial to the production of a lot of goods and services as well as organizational data.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The increase of food service outlets is driving the market, growing awareness of the negative consequences of plastic packaging, and rising personal disposable income.

The current report Scope analyzes Shared Services Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Shared Services Market Analysis

According to Cognitive Market Research, the global Shared Services market size was estimated at USD 42154.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 16861.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.7% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Shared Services market with a market size of USD 13303.87 million in 2024 and is projected to grow at a CAGR of 21.5% during the forecast period. The U.S. market's Stringent governmental regulations against business.
• The Canada Shared Services market had a market share of USD 2023.40 million in 2024 and is projected to grow at a CAGR of 22.5% during the forecast period. Canada’s rising awareness among the population.
• The Mexico Shared Services market is projected to witness growth at a CAGR of 22.2% during the forecast period, with a market size of USD 1534.41 million in 2024.

Europe Shared Services Market Analysis

According to Cognitive Market Research, the global Shared Services market size was estimated at USD 42154.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 12646.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 22.0% from 2024 to 2031.

• The United Kingdom Shared Services market had a market share of USD 2124.57 million in 2024 and is projected to grow at a CAGR of 22.8% during the forecast period. In the UK, Shared Services sales witness an upswing due to the increasing focus on availability of skilled labour.
• The France Shared Services market is projected to witness growth at a CAGR of 21.2% during the forecast period, with a market size of USD 1163.46 million in 2024.
• According to Cognitive Market Research, the German Shared Services market size was valued at USD 2503.96 million in 2024 and is projected to grow at a CAGR of 22.2% during the forecast period. In Germany, Shared Services surged due to the Increased focus of the manufacturers and major market players.
• The Italy Shared Services market is projected to witness growth at a CAGR of 21.4% during the forecast period, with a market size of USD 1087.58 million in 2024.
• The Russia Shared Services market is projected to witness growth at a CAGR of 21.0% during the forecast period, with a market size of USD 1960.17 million in 2024.
• The Spain Shared Services market is projected to witness growth at a CAGR of 21.1% during the forecast period with a market size of USD 1036.99 million in 2024
• The Luxembourg Shared Services market is projected to witness growth at a CAGR of 22.1% during the forecast period, with a market size of USD 392.03 million in 2024.
• The Portugal Shared Services market is projected to witness growth at a CAGR of 21.8% during the forecast period, with a market size of USD 265.57 million in 2024.
• The Greece Shared Services market is projected to witness growth at a CAGR of 22.3% during the forecast period, with a market size of USD 151.76 million in 2024.
• The Rest of Europe's Shared Services market is projected to witness growth at a CAGR of 20.7% during the forecast period, with a market size of USD 1960.17 million in 2024.

Asia Pacific Shared Services Market Analysis

According to Cognitive Market Research, the global Shared Services market size was estimated at USD 42154.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 9695.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 25.5% from 2024 to 2031.

• According to Cognitive Market Research, the China Shared Services market size was valued at USD 4362.96 million in 2024 and is projected to grow at a CAGR of 25.0% during the forecast period. Shared Services surged in China due to Increased focus of the manufacturers and major market players.
• The Japan Shared Services market is projected to witness growth at a CAGR of 24.0% during the forecast period, with a market size of USD 1337.97 million in 2024.
• The India Shared Services market had a market share of USD 1163.46 million in 2024 and is projected to grow at a CAGR of 27.3% during the forecast period. India's rising awareness among the populations .
• The South Korean Shared Services market is projected to witness growth at a CAGR of 24.6% during the forecast period, with a market size of USD 969.55 million in 2024.
• The Australian Shared Services market is projected to witness growth at a CAGR of 25.2% during the forecast period, with a market size of USD 504.16 million in 2024.
• The South East Asia Shared Services market is projected to witness growth at a CAGR of 26.5% during the forecast period, with a market size of USD 668.99 million in 2024.
• The Rest of Asia Pacific Shared Services market is projected to witness growth at a CAGR of 25.3% during the forecast period, with a market size of USD 688.38 million in 2024.

South America Shared Services Market Analysis

According to Cognitive Market Research, the global Shared Services market size was estimated at USD 42154.2 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 2107.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 22.9% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Shared Services market size was valued at USD 902.10 million in 2024 and is projected to grow at a CAGR of 23.5% during the forecast period. Shared Services flourished in Brazil due to increasing demand for cloud based devices.
• Argentina's Shared Services market had a market share of USD 354.10 million in 2024 and is projected to grow at a CAGR of 23.8% during the forecast period. Argentina's rising personal disposable income .
• Colombia Shared Services market is projected to witness growth at a CAGR of 22.7% during the forecast period, with a market size of USD 187.59 million in 2024.
• Peru Shared Services market is projected to witness growth at a CAGR of 23.1% during the forecast period, with a market size of USD 172.83 million in 2024.
• Chile Shared Services market is projected to witness growth at a CAGR of 23.2% during the forecast period, with a market size of USD 151.76 million in 2024.
• The Rest of Latin America's Shared Services market is projected to witness growth at a CAGR of 22.0% during the forecast period, with a market size of USD 339.34 million in 2024.

Middle East Shared Services Market Analysis

According to Cognitive Market Research, the global Shared Services market size was estimated at USD 42154.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 843.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 23.2% from 2024 to 2031..

• The GCC Countries Shared Services market is projected to witness growth at a CAGR of 24.0% during the forecast period, with a market size of USD 360.84 million in 2024. Shared Services sales flourish due to the presence of major market players.
• The Egypt Shared Services market is projected to witness growth at a CAGR of 23.5% during the forecast period, with a market size of USD 88.52 million in 2024.
• The South Africa Shared Services market is projected to witness growth at a CAGR of 24.2% during the forecast period, with a market size of USD 133.21 million in 2024. Shared Services sales flourished in South Africa due to increasing demand and regulatory support.
• The Turkey Shared Services market is projected to witness growth at a CAGR of 22.7% during the forecast period, with a market size of USD 72.51 million in 2024.
• The Nigeria Shared Services market is projected to witness growth at a CAGR of 22.3% during the forecast period, with a market size of USD 88.52 million in 2024.
• The Rest of the MEA Shared Services market is projected to witness growth at a CAGR of 22.2% during the forecast period, with a market size of USD 99.48 million in 2024.

Shared Services Market Analysis

Shared Services Market Component Segment Analysis

According to Cognitive Market Research, Service are likely to dominate the Shared Services Market over the forecast period. The increasing need for specialist knowledge in automation and data management technologies, together with the need for professional services to facilitate the establishment and upkeep of shared service centers, are factors contributing to the segment's rise.

The software is the fastest-growing segment in the Shared Services Market, because there is more demand for software as a service (SaaS). Businesses place a high priority on integrating these programs to increase productivity and ensure that budgetary constraints are met..

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Shared Services Industry. Request a Free Sample PDF!

Shared Services Market End-use Segment Analysis

According to Cognitive Market Research, the BFSI (Business, Finance, Service and Insurance) segment dominates the market. The segment's growth is mostly driven by the demand for shared services to handle financing, banking, investing, and other transactional activities.

Retail and Hospitality is projected to be the fastest-growing segment in the Shared Services market. Because customer experience is becoming more and more important, the retail and consumer goods sector is predicted to develop at a quicker CAGR. In order to increase user happiness and provide a smooth experience, enterprises are developing shared services.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Shared Services Deployment Segment Analysis

Shared Services Market Component Segment Analysis

According to Cognitive Market Research, Service are likely to dominate the Shared Services Market over the forecast period. The increasing need for specialist knowledge in automation and data management technologies, together with the need for professional services to facilitate the establishment and upkeep of shared service centers, are factors contributing to the segment's rise.

The software is the fastest-growing segment in the Shared Services Market, because there is more demand for software as a service (SaaS). Businesses place a high priority on integrating these programs to increase productivity and ensure that budgetary constraints are met..

• Cloud
• On Premise

Shared Services Organization Size Segment Analysis

• Large Enterprises
• Small and Medium Enterprises (SMEs)

Shared Services Distribution Channels Segment Analysis

• Centralized management
• Digital Platforms
• Direct Access Channels

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

LinkedIn

Profile

Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion