Vietnam Human Resource Software as a Service Market 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,
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationVietnam Human Resource Software as a Service Market 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,
Vietnam Human Resource Software as a Service Market was valued at USD27.49 million in 2021 and is anticipated to project robust growth in the forecast period with a CAGR of 22.81% due to the shift towards cloud-based services and data concerns, leading to a rise in the Vietnam Human Resource Software as a Service Market.
The HR SaaS system is a cloud software owned by a third-party provider, licensed and registered to manage HR-related activities. Major focus areas include staff tracking, pay, benefits, hiring and boarding, training, etc.
Emerging Trend of Adoption of Subscription Based Services Driving Market Growth
The easy and low cost of digital subscription offerings has resulted in a rise in the use of human resource software services. Business applications are increasingly being viewed as a cost-effective facility for companies with minimal IT resources. Such services are hosted within the firewall capabilities of large organizations with no data security concerns and the requisite technology. Moreover, there is no license charge as HR SaaS systems are subscription-based, resulting in cheaper upfront expenses, which is driving the Vietnam Human Resource Software as a Service market.
Increasing Necessity for Improved and Optimized Compliance
Compliance can be difficult for even the most well-organized and vigilant HR department. Maintaining correct paperwork is tough with ever-changing national and organizational standards. The HR department is responsible for a variety of documents, and HR software solutions enable employers to effortlessly store, exchange and manage vital employee information. Built-in tools that easily monitor documents and certification with expiry date help an organization to stay audit ready and one step ahead of compliance requirements.
Concerns for Data Integrity
The Software as a Service concept is used to host human resource software applications in the cloud, reducing the requirement for local storage. Data is stored in different data centers to ensure that in the event of a disaster, the service can continue to be provided by the other data center. Furthermore, HR management software improves security by allowing businesses to securely share documents and govern who has access to them.
Growing Investments in Block Technology Aids in Market Growth
Blockchain technology has the potential to improve the convenience and transparency of online transactions. Though blockchain technology is best known for its use in the bitcoin business, it has progressively spread to other industries in recent years. Since the software products include vast volumes of personal data across numerous digital platforms, such as mobiles, desktops, and wearables, a vast amount of personal information is dispersed across the ecosystem. Such dissemination of information can make the data prone to risks and vulnerable. In view of increasing concern for data integrity and privacy, security and transparency shall increase as more tailored goods are developed. Furthermore, by adding blockchain, SaaS organizations may better handle operations like payment management, metering functionality, validation, verification, and authentication and grow the number of blockchain-compatible goods, solutions, and services. This could eliminate the need for human interaction while simultaneously shortening transaction times, resulting in more trustworthy and secure transactions.
Market Segmentation
The Vietnam Human Resource Software as a Service Market is segmented based on Business Application, Type, Organization Size, Deployment, End User, Region, and Company. Based on business application, the market is segmented into Attendance Management System, Leave Management, Payroll Management, HR Management Systems and Others. Based on type, the market is further fragmented into Horizontal SaaS and Vertical SaaS. Based on organization size, the market is bifurcated into Large Enterprises and SMEs. Also, segmentation of the market on the deployment of the service is done into Cloud and On-premises. Based on End user, the market is segmented into Government Enterprises, Local Enterprises, and FDI Enterprises. The market analysis also studies the regional segmentation of Vietnam to devise regional market segmentation divided among South, North and Central Vietnam. Based on provinces, the market is further split into Ho Chi Minh City, Hanoi, Dong Nai, Binh Duong, Hai Phong, Bac Ninh, Ba Ria - Vung Tau, Thanh Hoa Province, Quảng Ninh, Nghe An, and others.
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Company Profiles
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 are among the major market players that lead the market growth of the Vietnam Human Resource Software as a Service Market.
| Attribute | Details |
| Market size value in 2021 | USD27.49 Million |
| Revenue Forecast in 2045 | USD4111.24 Million |
| Growth Rate | 22.81% |
| Base Year | 2021 |
| Historical Years | 2016 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2045 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2016-2021 and 2022E-2045F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · Business Application · Type · Organization Size · Deployment · End User · Regions · Provinces |
| Regional Scope | South Vietnam; North Vietnam; Central Vietnam |
| Provinces Scope | Ho Chi Minh City; Hanoi; Dong Nai; Binh Duong; Hai Phong; Bac Ninh; Ba Ria - Vung Tau; Thanh Hoa Province; Quảng Ninh; Nghe An |
| Key Companies Profiled | 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 |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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