Key Trends Reshaping the Shared Services Center Market: Advantech Expands Operations with the Launch of ASEAN Shared Service Center Industry Transformation

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Shared Services Center Market Size Growth Forecast: What to Expect by 2025?
There has been a significant expansion in the market size of shared services centers over the past couple of years. This growth is projected to rise from $0.11 billion in 2024 to $0.14 billion in 2025, with a compound annual growth rate (CAGR) of 23.7%. This historic growth has been primarily driven by cost efficiency, process standardization, regulatory changes, global expansion, and improved service quality.

How Will the Shared Services Center Market Size Evolve and Grow by 2029?
Expectations are high for the shared services center market, as it's forecasted to experience significant expansion in the upcoming years. By 2029, predictions suggest it will achieve a market size of $0.32 billion, a value achieved through a compound annual growth rate (CAGR) of 23.2%. Factors driving this growth during the forecast period include an emphasis on digital transformation, a surge in demand for data analytics, the adoption of globalization and localization strategies, and intensifying concerns over cybersecurity. Key trends projected for this period involve a stronger push towards intelligent automation, digital transformation, improved employee work experiences, the adoption of hybrid work models, along with the implementation of sophisticated data security measures.

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What Drivers Are Propelling the Growth of Shared Services Center Market Forward?
The shared services center (SSC) market is poised to grow, driven by the advent of remote work and virtual service delivery. The term remote work signifies working outside the bounds of a conventional office setting, often from home or any place with an internet connection. On the flip side, virtual service delivery is the process of offering services remotely, avoiding physical interactions. Shared service centers are becoming more popular because of their scalability, flexibility, and cost-effectiveness, making them easy to operate and maintain regardless of the location of employees. For example, the United States Census Bureau, a government agency, has reported in May 2024 that e-commerce sales in the first quarter of 2024 increased by 8.5% in comparison to the same quarter in 2023, making up 15.6% of total retail sales, representing a year-over-year increase of 2.8%. Thus, the rising acceptance of remote work and virtual service delivery is anticipated to drive the expansion of the shared services center (SSC) market.

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Which Emerging Trends Are Transforming the Shared Services Center Market in 2025?
Leading businesses in the shared service center market are concentrating their efforts on fostering investment in the expansion of shared service centers. The push for investment in these centers is fueled by the aspiration to attain operational efficiency, cost reduction, enhanced service quality, and strategic benefits. For example, Advantech, a tech company based in Taiwan, unveiled its ASEAN Shared Service Center in January 2024. This center will provide services like supply chain management, finance, and human resources to Advantech's clientele in the ASEAN region. The establishment of this center is part of Advantech's "China+1" strategy, which is directed towards expanding its presence in Southeast Asia and broadening its operations while mitigating risks. Additionally, the center is poised to help Advantech deliver improved services to its regional clients through localized support and expertise.

What Are the Key Segments in the Shared Services Center Market?
The shared services center market covered in this report is segmented -

1) By Type: Business Strategy, Operational Strategy, Other Types
2) By Component: Software, Services, Consulting, Integration, Maintenance
3) By End-Use: Banking, Financial Services And Insurance (BFSI), Media And Entertainment, Manufacturing, Healthcare, Information Technology And Telecom, Retail And Hospitality, Other End-Users

Subsegments:
1) By Business Strategy: Strategic Planning, Performance Management
2) By Operational Strategy: Process Optimization, Cost Reduction
3) By Other Types: Technology Integration, Compliance And Risk Management

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Who Are the Key Players Shaping the Shared Services Center Market's Competitive Landscape?
Major companies operating in the shared services center market are PLC, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Novartis International AG, Abbott Laboratories, Oracle Corporation, KPMG, Broadcom Inc., SAP SE, Barclays PLC, Tata Consultancy Services Limited, Capgemini, Cognizant Technology Solutions Corp., Infosys Ltd., HCL Technologies Limited, Atos SE, Wipro Ltd., Nasdaq Inc., Western Union Financial Services Inc., Genpact Limited, Ahlstrom, Allen & Overy LLP, EXL Service Holdings Inc., Aspen Technology Inc., Intermedix Inc., PA Consulting Group Limited, Invest Lithuania

What Geographic Markets Are Powering Growth in the Shared Services Center Market?
North America was the largest region in the shared service center market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the shared services center market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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