Global Shared Services Center Market size is expected to record over 16% CAGR from 2024 to 2032, fueled by the adoption of industry-specific solutions and technological advancements. Of late, companies are increasingly seeking specialized services tailored to industry needs, such as finance or IT. Advanced technologies like automation and AI are enhancing the capabilities of shared services centers for improving efficiency and outcomes. With businesses recognizing the value of these industry-specific solutions and innovative technologies, the adoption of shared services will expand significantly for meeting the evolving demands of various industries. For instance, in March 2024, Crunchyroll launched a new technology and shared services center for expanding its operational capabilities and enhancing the service offerings.

The shared services center market is segmented based on service, organization size, industry, and region.

In terms of service, the industry size from the information technology segment will establish noteworthy development by 2032, owing to the increasing reliance on shared services for cost efficiency and streamlined operations. IT shared services offer solutions for data management, software development, and technical support for catering to a wide range of industries. With businesses recognizing the benefits of outsourcing IT functions to shared centers, the diverse needs of companies seeking efficient and specialized IT services will be subsequently met.

The BFSI segment in the shared services center market will undergo significant growth between 2024 and 2032. The rising intricate and data-driven operations in BFSI applications is making shared services an appealing option for cost efficiency and operational optimization. Services, such as customer support, data analytics, and transaction processing are witnessing high demand. With the BFSI industry increasingly turning to shared services to enhance efficiency and reduce costs, the demand for shared services center will escalate for catering to the needs of financial institutions and insurance companies.

North America shared services center market will exhibit a noteworthy CAGR from 2024 to 2032, propelled by the mature business environment and widespread adoption of shared services across various industries. Countries like the U.S. and Canada have a robust presence of shared services centers, further offering cost-effective solutions for back-office functions. With businesses increasingly turning to shared services for operational efficiency, North America will dominate the market for meeting the diverse needs of companies seeking streamlined and specialized services.