Malaysia’s ESG Reporting Software Market Size, Share and Forecast Report, 2030

According to the latest market research study published by P&S Intelligence, the Malaysian ESG reporting software market is poised for robust expansion, generating an estimated USD 14.38 million in revenue in 2024 and projected to reach USD 35.95 million by 2030. This reflects an impressive CAGR of 16.9% during 2025–2030, propelled primarily by the rising implementation of ESG reporting across industries. As corporate data volumes continue to surge, businesses are increasingly adopting advanced digital tools that streamline compliance, support transparency, and enhance data-driven decision-making.

Malaysia’s strong focus on sustainable development—reinforced through frameworks such as the Malaysian Code on Corporate Governance (MCCG) and Bursa Malaysia’s Sustainability Reporting Guidelines—has further accelerated adoption. Listed companies are required to provide comprehensive ESG disclosures, pushing organizations to depend on high-end software for accurate tracking and seamless regulatory compliance. Additionally, Malaysia’s push toward Industry 4.0 and its expanding digital economy continues to fuel the shift toward cloud computing, AI, and big data analytics, all of which significantly enhance the capabilities of ESG reporting tools.

With industries such as BFSI, manufacturing, agriculture, energy, and IT embracing digitization at an unprecedented scale, the demand for flexible, scalable, and insight-driven ESG reporting solutions is stronger than ever. Businesses are increasingly leveraging these tools to manage risks, maintain accountability, and support long-term sustainability strategies.

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Key Insights

• The rising emergence of analytics within ESG reporting software is reshaping how Malaysian companies track and disclose sustainability performance, with advanced tools enabling more-accurate, actionable, and timely insights.


• Sophisticated analytics now allow organizations to collect extensive data from internal systems, external reports, and IoT devices, minimizing human error through automated algorithms designed to ensure data integrity.


• Real-time insights empower businesses to monitor critical KPIs—such as carbon emissions—and quickly act when performance deviates from sustainability targets.


• Firms across Malaysia are experiencing exponential growth in data volumes due to digital transformation, increased use of mobile and online platforms, and expanding stakeholder interactions, all of which strengthen the need for scalable ESG reporting tools.


• The widespread adoption of cloud-based storage and information management drives organizations toward ESG reporting software, offering benefits such as minimal IT infrastructure requirements, predictable implementation timelines, and seamless updates.


• As corporate data expands across servers, cloud platforms, and employee devices, businesses increasingly use ESG reporting software to reduce risk exposure and control data storage costs.


• High initial capital expenditure remains a key restraint, particularly for SMEs, due to costs associated with software licensing, customization, integration, and employee training for effective utilization.


• Providers such as SAP, Workiva, and OneTrust often carry premium pricing due to built-in features like big data analytics and compliance tracking, creating barriers for smaller organizations.


• In 2024, the on-premises deployment mode will command 71.8% of the market as Malaysian businesses prioritize direct control over sensitive ESG data and alignment with strict local data-protection regulations.


• Cloud-based deployment, however, is expected to grow at the higher CAGR owing to scalability, affordability, and ease of adoption, making it especially appealing for startups and rapidly expanding enterprises.


• Large enterprises will dominate the market in 2024 as they face more-demanding ESG disclosure requirements from regulators, investors, and communities, requiring high-performance, integrated reporting systems.


• SMEs will witness a faster CAGR of 18.0%, with growing awareness of ESG compliance and the strategic advantage of transparency driving adoption of reporting solutions.


• The software component will account for 79.2% of the 2024 market and remains the fastest-growing category due to organizations’ increasing need for automated data collection, integrated analytics, and accurate sustainability reporting.


• The BFSI sector will hold the largest share in 2024 and grow at the fastest pace (17.6% CAGR), owing to its stringent regulatory environment, higher scrutiny from stakeholders, and the need for precise ESG-related disclosures.


• Industries such as retail, IT & telecom, energy & utilities, property, healthcare, and plantation are also expanding their use of ESG reporting software to strengthen accountability and improve governance practices.


• The Malaysian market remains fragmented, with numerous players offering diversified ESG reporting capabilities tailored to carbon emissions tracking, societal impact measurement, and governance compliance.


• Key providers operating in the country include Savills Plc, Datamine, Baker Tilly Monteiro Heng PLT, ESGRIGHT SDN. BHD., Novem ESG Sdn Bhd, Sustainalytics, KPMG PLT, Deloitte, AGV Sustainability, Wolters Kluwer, PwC, Schneider Electric, and IBM.


• Market fragmentation is supported by low entry barriers, allowing new companies and niche specialists to enter and compete effectively.


• Recent industry developments include SGS securing multiple sustainability assurance contracts in May 2024, XTS Technologies partnering with CIMB Bank in March 2024 to support SME digitalization and sustainability, and Sphera Solutions acquiring SupplyShift in January 2024 to enhance supply chain transparency.


• Bursa Malaysia’s launch of a new ESG reporting platform in December 2023 underscores the country’s commitment to strengthening disclosure quality and supporting companies in meeting enhanced sustainability reporting requirements.

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