Malaysia Core HR Software Market Size is anticipated to grow at a CAGR of 9.7% respectively during 2024-2030.

On the basis of organization size, the large enterprise category attained the highest revenue share in Malaysia Core HR Software Market – 6Wresearch

Large enterprises accounted for a major revenue share in Malaysia’s core HR software market owing to their ability to allocate more substantial budgets for technology investments, enabling them to afford premium HR software solutions with advanced features and functionalities. Furthermore, due to the substantial workforce in large enterprises, HR software becomes a necessity to efficiently manage their human resources.

According to 6Wresearch, Malaysia Core HR Software Market Size is anticipated to grow at a CAGR of 9.7% respectively during 2024-2030. In 2024, Malaysia's unemployment rate is forecasted to stabilize at 3.3%, buoyed by increased investments from both foreign and domestic sources, fortifying the labor market. Notably, Australian companies are considering investments totaling US$5.17 billion in Malaysia. Among them, data management center giants AirTrunk and NextDC plan investments worth US$2.32 billion and US$630 million, respectively. Furthermore, Malaysia's robust policy support, encapsulated by the Madani Economy Framework, the National Energy Transition Roadmap (NETR), and the New Industrial Master Plan 2030 (NIMP 2030), is poised to further attract investments and foster job creation within the country, thereby creating a robust demand for core HR software in the forthcoming year.

In 2022, a survey revealed challenges including inaccessible offline data, lack of developer support, and training time for HR digitized platforms, while concerns over data security and ROI reluctance hindered market growth. However, proactive government initiatives, like MDEC in Malaysia, with tax incentives, show promise for core HR software adoption, aligning with digital transformation goals.

According to Shubham Deep, Senior Research Analyst, 6Wresearch, in 2023, cloud-based deployment dominated the Malaysia core HR software market owing to rapid implementation, minimal infrastructure requirements, automatic updates, and enhanced data security, aligning well with the country's digital transformation agenda. Additionally, its flexibility to accommodate remote work arrangements and support for mobile access further propelled its adoption among Malaysian businesses seeking modern and agile HR solutions.

Malaysia Core HR Software Market (2024-2030) report provides an in-depth analysis with 21 figures and 9 tables, covered in 80 pages. The report comprehensively covers the market by component, organization size, deployment type, software, services and vertical. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.

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