Shared Services Center Market Analysis By End-Use (Pharmaceutical & Clinical, Legal, BFSI, Manufacturing) And Segment Forecasts To 2022

Published: Jan, 2016 | Pages: 89 | Publisher: Grand View Research
Industry: Technology & Media | Report Format: Electronic (PDF)

Over 75,000 shared services centers market are expected to be established globally by 2022, growing at a CAGR of close to 30% from 2015 to 2022, according to a new report by Grand View Research, Inc.

A shared services center (SSC) is a devoted unit that focuses on defined business functions and is structured as a centralized delivery location and point of service. The unit is responsible for specific functions, such as security, purchasing, compliance, legal, IT, payroll, HR, and accounting.

The growth prospects for this market are bullish due to increased needs for reducing costs and improving the quality of delivered services. Resourceful implementation of SSC in operational stages yields greater operational efficiency and cost reduction, while enhancing productivity. Deployment of SSC framework helps companies to focus on enhancing operations.

Availability of skilled low cost labor, tax relaxation and favorable government initiatives in select geographies such as India, China, Latin America, and some parts of Eastern Europe are envisioned to drive industry growth.

However, the complexity associated with the implementation of such a framework is presumed to challenge industry growth, as it involves the assigned tasks to be performed and shared dynamically across the various business units involved. To achieve cost reduction, organizations operate in a low cost location. However, doing so without the standardization of procedures is expected to increase the organization's inefficiency and is expected to hinder SSC establishments.

Further key findings from the report suggest:

Poised to witness considerable growth over the next seven years, pharmaceutical & clinical end-use accounted for 11% of the overall market share in 2014. Rapid increase in the need to reinvent traditional pharmaceutical R&D model to continue developing new products cost-effectively and efficiently, and adjust to the industry's new realities is expected bolster demand over the forecast period.

Projected to grow at an estimated CAGR of 35% from 2015 to 2022, legal end-use is expected to drive the SSC industry over the forecast period. Over the last few years, emergence of new technologies coupled with the need to reduce costs in the wake of global downturn has significantly forced corporate legal departments and law firms to change their traditional business approach and to adopt shared services and outsourcing associated with the legal profession.

BFSI end-use accounted for over 20% of the overall revenue in 2014, and is presumed to witness significant growth in the market share over the forecast period, owing to the emerging trend among companies to enhance global presence and customer satisfaction. Availability of huge and highly educated workforce, lower wages, and improved English capabilities in countries across Asia Pacific and Eastern Europe are envisioned to boost industry growth.

Projected to grow at an estimated CAGR of over 25% from 2015 to 2022, manufacturing end-use is expected to witness healthy growth in the foreseeable future. Organizations consider Asia Pacific as the most attractive market for off-shoring destination owing to the lower wages, higher employment rates, availability of pool of talents, and skilled and educated employees in the region, which are expected to drive industry growth.

The Asia Pacific regional market is poised for high growth throughout the forecast period. It accounted for close to 30% of the overall market share in 2014. Close-knit cultural homogeneity coupled with low-cost arbitrage has made the Asia Pacific region a preferred destination for SSC establishment.

The presence of a large number of universities, eventually enabling access to skilled labor force, multi-lingual skills in professionals coupled with cultural similarity to Western Europe is presumed to have driven growth in the European region.

 Table of Contents
s

Chapter 1. Methodology and Scope
                   1.1. Research methodology
                   1.2. Research scope and assumptions
                   1.3. List of data sources
Chapter 2. Executive Summary
                   2.1. Shared services center- Industry snapshot and key buying criteria, 2012 - 2022
Chapter 3. Shared Services Center Industry Outlook
                   3.1. Market segmentation
                   3.2. Market size and growth prospects
                   3.3. SSC value chain analysis
                   3.4. SSC market dynamics
                      3.4.1. Market driver analysis
                      3.4.2. Market restraint analysis
                   3.5. Key opportunities prioritized
                   3.6. SSC - PESTEL analysis
                   3.7. SSC key competitor analysis
Chapter 4. SSC End-Use Outlook (Qualitative) 
                   4.1. Pharmaceutical and clinical
                      4.1.1. Shared service model adoption overview Refrigerators & Freezers
                      4.1.2. Benefits/drawbacks of shared service model
                      4.1.3. Site selection criteria
                      4.1.4. Services overview
                      4.1.5. Market attractiveness analysis
                   4.2. Legal
                      4.2.1. Shared service model adoption overview Refrigerators & Freezers
                      4.2.2. Benefits/drawbacks of shared service model
                      4.2.3. Site selection criteria
                      4.2.4. Services overview
                      4.2.5. Market attractiveness analysis
                   4.3. BFSI
                      4.3.1. Shared service model adoption overview Refrigerators & Freezers
                      4.3.2. Benefits/drawbacks of shared service model
                      4.3.3. Site selection criteria
                      4.3.4. Services overview
                      4.3.5. Market attractiveness analysis
                   4.4. Manufacturing
                      4.4.1. Shared service model adoption overview Refrigerators & Freezers
                      4.4.2. Benefits/drawbacks of shared service model
                      4.4.3. Site selection criteria
                      4.4.4. Services overview
                      4.4.5. Market attractiveness analysis
Chapter 5. SSC End-Use Outlook (Quantitative) 
                   5.1. SSC market share by end-use, 2014 & 2022
                   5.2. Pharmaceutical and clinical
                   5.3. Legal
                   5.4. BFSI
                   5.5. Manufacturing
Chapter 6. Shared Services Center Regional Outlook 
                   6.1. SSC market share by region, 2014 & 2022
                   6.2. North America
                      6.2.1. North America market by end-use, 2012 - 2022
                      6.2.2. U.S.
                           6.2.2.1. U.S. market by end-use, 2012 - 2022
                      6.2.3. Canada
                           6.2.3.1. Canada market by end-use, 2012 - 2022
                   6.3. Europe
                      6.3.1. Europe market by end-use, 2012 - 2022
                      6.3.2. UK
                           6.3.2.1. UK market by end-use, 2012 - 2022
                      6.3.3. CEE
                           6.3.3.1. CEE market by end-use, 2012 - 2022
                   6.4. Asia Pacific
                      6.4.1. Asia Pacific market by end-use, 2012 - 2022
                      6.4.2. China
                           6.4.2.1. China market by end-use, 2012 - 2022
                      6.4.3. India
                           6.4.3.1. India market by end-use, 2012 - 2022
                      6.4.4. Japan
                           6.4.4.1. Japan market by end-use, 2012 - 2022
                   6.5. Latin America
                      6.5.1. Latin America market by end-use, 2012 - 2022
                   6.6. MEA
                      6.6.1. MEA market by end-use, 2012 - 2022
Chapter 7. Competitive Landscape 
                   7.1. Abbott
                      7.1.1. Company Overview
                      7.1.2. Financial Performance
                      7.1.3. Product Benchmarking
                      7.1.4. Strategic Initiatives
                   7.2. Ahlstrom
                      7.2.1. Company Overview
                      7.2.2. Financial Performance
                      7.2.3. Product Benchmarking
                      7.2.4. Strategic Initiatives
                   7.3. Allen & Overy
                      7.3.1. Company Overview
                      7.3.2. Financial Performance
                      7.3.3. Product Benchmarking
                      7.3.4. Strategic Initiatives
                   7.4. Aspen Pharma
                      7.4.1. Company Overview
                      7.4.2. Financial Performance
                      7.4.3. Product Benchmarking
                      7.4.4. Strategic Initiatives
                   7.5. Barclays
                      7.5.1. Company Overview
                      7.5.2. Financial Performance
                      7.5.3. Product Benchmarking
                      7.5.4. Strategic Initiatives
                   7.6. Ernst & Young Global Limited
                      7.6.1. Company Overview
                      7.6.2. Financial Performance
                      7.6.3. Product Benchmarking
                      7.6.4. Strategic Initiatives
                   7.7. Intermedix
                      7.7.1. Company Overview
                      7.7.2. Financial Performance
                      7.7.3. Product Benchmarking
                      7.7.4. Strategic Initiatives
                   7.8. Invest Lithuania
                      7.8.1. Company Overview
                      7.8.2. Financial Performance
                      7.8.3. Product Benchmarking
                      7.8.4. Strategic Initiatives
                   7.9. KPMG
                      7.9.1. Company Overview
                      7.9.2. Financial Performance
                      7.9.3. Product Benchmarking
                      7.9.4. Strategic Initiatives
                   7.10. NASDAQ
                      7.10.1. Company Overview
                      7.10.2. Financial Performance
                      7.10.3. Product Benchmarking
                      7.10.4. Strategic Initiatives
                   7.11. Novartis
                      7.11.1. Company Overview
                      7.11.2. Financial Performance
                      7.11.3. Product Benchmarking
                      7.11.4. Strategic Initiatives
                   7.12. PA Knowledge Limited
                      7.12.1. Company Overview
                      7.12.2. Financial Performance
                      7.12.3. Product Benchmarking
                      7.12.4. Strategic Initiatives
                   7.13. PwC
                      7.13.1. Company Overview
                      7.13.2. Financial Performance
                      7.13.3. Product Benchmarking
                      7.13.4. Strategic Initiatives
                   7.14. Shared Services Bethlehem
                      7.14.1. Company Overview
                      7.14.2. Financial Performance
                      7.14.3. Product Benchmarking
                      7.14.4. Strategic Initiatives
                   7.15. Tentacle Technologies
                      7.15.1. Company Overview
                      7.15.2. Financial Performance
                      7.15.3. Product Benchmarking
                      7.15.4. Strategic Initiatives
                   7.16. Western Union
                      7.16.1. Company Overview
                      7.16.2. Financial Performance
                      7.16.3. Product Benchmarking
                      7.16.4. Strategic Initiatives
                   7.17. WNS
                      7.17.1. Company Overview
                      7.17.2. Financial Performance
                      7.17.3. Product Benchmarking
                      7.17.4. Strategic Initiatives

List of Tables


TABLE 1 SSC - Industry snapshot, 2012-2022
TABLE 2 Global SSC market, (Units), 2012 - 2022
TABLE 3 Global SSC market by region, 2012 - 2022 (USD Million)
TABLE 4 Global SSC market by end-use, 2012 - 2022 (USD Million)
TABLE 5 Global pharmaceuticals & clinical SSC market (Units), 2012 - 2022
TABLE 6 Global pharmaceuticals & clinical SSC market by region (Units), 2012 - 2022
TABLE 7 Global legal SSC market (Units), 2012 - 2022
TABLE 8 Global legal SSC market by region (Units), 2012 - 2022
TABLE 9 Global BFSI SSC market (Units), 2012 - 2022
TABLE 10 Global BFSI SSC market by region (Units), 2012 - 2022
TABLE 11 Global manufacturing SSC market (Units), 2012 - 2022
TABLE 12 Global manufacturing SSC market by region (Units), 2012 - 2022
TABLE 13 Global other end-use verticals SSC market (Units), 2012 - 2022
TABLE 14 Global other end-use verticals SSC market by region (Units), 2012 - 2022
TABLE 15 North America market by end-use (Units), 2012- 2022
TABLE 16 U.S. market by end-use (Units), 2012- 2022
TABLE 17 Canada market by end-use (Units), 2012- 2022
TABLE 18 Europe market by end-use (units), 2012- 2022
TABLE 19 UK market by end-use (Units), 2012- 2022
TABLE 20 CEE market by end-use (Units), 2012- 2022
TABLE 21 Asia Pacific market by end-use (Units), 2012- 2022
TABLE 22 China market by end-use (units), 2012- 2022
TABLE 23 India market by end-use (Units), 2012- 2022
TABLE 24 Japan market by end-use (Units), 2012- 2022
TABLE 25 Latin America market by end-use (Units), 2012- 2022
TABLE 26 MEA market by end-use (Units), 2012- 2022