Vietnam Human Resource Software as a Service Market to Grow at a CAGR of 22.81% through 2045
Rising
demand for data compliance and emerging trend of adoption of subscription-based
services are driving the growth in Vietnam Human Resource Software as a Service
Market in the forecast period, 2023-2045.
According to TechSci Research
report, “Vietnam Human Resource Software as a Service (SaaS) Market By Region, Forecast & Competition,
Opportunities, 2017- 2027”,
the Vietnam human resource software as a service market was valued at USD27.49
million in 2021 and is anticipated to grow at a CAGR of 22.81% in the forecast
period to reach a value of USD4111.24 million by 2045. The human resource
software as a service application is hosted in the cloud using the SaaS model,
eliminating the need for local storage. The data is stored in multiple data
centers, ensuring that the data is not lost even if one center is lost. The
human resource software service improves security and allows the company to
share the documents and restrict access to authorized employees. Also, the
government is promoting the adoption of platforms to support the national
digital transformation and has issued technical criteria to select the cloud
computing platforms for e-government/e-governance. Market players are working
to comply with the standards set by the leading authorities and are introducing
sophisticated software in the market.
However, concerns regarding
data security and privacy may restrain the Vietnam human resource software as a
service market growth in the forecast period.
Browse over 34 market data Figures spread through 97 Pages and an in-depth TOC
on "Vietnam Human Resource Software as a Service Market"
https://www.techsciresearch.com/report/vietnam-human-resource-software-as-a-service-market/9437.html
The Vietnam human resource software as a service market is segmented on the
basis of business application, type, organization size, deployment, end user,
regional distribution, and competitive landscape.
Based on type, the market is fragmented into horizontal SaaS and vertical SaaS.
The horizontal SaaS segment led the market by holding a market share of 91.11%
of the overall market share in 2021. They are not made for a specific target
audience and serve a single function for a variety of industries.
Based on organization size, the market is divided into large enterprises and
SMEs. The large enterprises dominated the market in 2021 with a market share of
69.94% and are expected to maintain their dominance through the next five
years.
Based on deployment, the market is bifurcated into the cloud and on-premises.
The cloud deployment model is expected to witness the fastest incremental
growth with a CAGR of 24.94% in the forecast period, 2023-2045, due to enterprises'
adoption of cloud-based models over the on-premises model. Ho Chi Minh City is
becoming the first smart city and focuses on adopting cloud services, big data,
and cloud computing technologies. The growing awareness about the benefits of
adopting cloud-based models in enterprises is expected to accelerate the
segment demand.
Based on the end user, the market is divided into government enterprises, local
enterprises, and FDI enterprises. The FDI enterprises led the market in 2021
with a market share of 46.90% and are expected to grow with a CAGR of 22.32%
through the forecast period, 2023-2045. The set-up of new FDI enterprises and
the strong foreign direct investment in the country bolster the adoption of
human resource software as a service demand.
Major market players operating in the Vietnam human resource software as a
service market are:
·
WYS
Enterprise Solutions Ltd.
·
Grove
HR Ltd.
·
Innotech
Vietnam Corporation
·
SAP
Vietnam Co. Ltd.
·
IBM
Vietnam Company Ltd.
·
Links
International
·
Oracle
Vietnam Pte Ltd
·
East
Horizon Company Limited
·
OOC
Technology Solution Joint Stock Company
·
Base
Enterprise Joint Stock Company
Download Sample Report@ https://www.techsciresearch.com/sample-report.aspx?cid=9437
Customers can also request
for 10% free customization on this report.
“Human resource software as a service consisting of a large amount of personal
data collected through multiple platforms is prone to cyber-attacks. The market
players invest in research and development activities to find innovative
solutions and increase software security. The adoption of blockchain technology
in human resource software as a service can efficiently improve payment
management, validation, verification, authentication, security, and other
services significantly. It is also expected to lower the need for human
intervention, making the transactions and information storage more trustworthy
and secure. The growing adoption of novel technologies by the market players
and the continuous evolution in technology is expected to propel Vietnam human
resource software as a service market growth till 2027” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Vietnam Human Resource Software as a Service By
Business Application (Attendance Management System, Leave Management, Payroll
Management, HR Management Systems, Others) By Type (Horizontal SaaS, Vertical
SaaS), By Organization Size (Large Enterprises, SMEs), By Deployment
(On-premises, Cloud), By End User (FDI Enterprises, Local Enterprises,
Government Enterprises), By Region, By Provinces, Competition, Forecast &
Opportunities, 2016-2045”, has evaluated the future
growth potential of Vietnam human resource software as a service market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Vietnam human resource software as a service market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com