
Study Period | 2019 - 2030 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2030 |
Market Size (2025) | USD 1.05 Billion |
Market Size (2030) | USD 2.56 Billion |
CAGR (2025 - 2030) | 19.50 % |
Market Concentration | High |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Vietnam Ride Hailing Market Analysis
The Vietnam Ride-Hailing Market size is estimated at USD 1.05 billion in 2025, and is expected to reach USD 2.56 billion by 2030, at a CAGR of 19.5% during the forecast period (2025-2030).
Vietnam's ride-hailing landscape is experiencing rapid digital transformation, driven by increasing urbanization and technological adoption. As of 2023, the country boasts an impressive 77.93 million internet users, representing 79.1% of the population, alongside 70 million social media users. The robust digital infrastructure, evidenced by 161.6 million active mobile connections (164% of population penetration), has created a fertile ground for e-hailing services to flourish. This digital ecosystem has enabled ride-hailing platforms to seamlessly connect drivers and passengers, while also facilitating integrated payment solutions and real-time tracking capabilities.
The market is witnessing a significant shift towards sustainable transportation solutions, particularly in the electric vehicle segment. Traditional ride-hailing companies are actively transitioning their fleets to electric vehicles, with new entrants like Xanh SM launching all-electric services. In December 2023, Xanh SM expanded its offerings by introducing the Xanh Express delivery service across five provinces, utilizing electric motorbikes. This trend towards electrification is further supported by government initiatives promoting sustainable transportation solutions and the development of charging infrastructure networks.
The competitive landscape is evolving rapidly with substantial investments and strategic partnerships shaping market dynamics. In January 2024, Be Group secured USD 30 million in fresh funding to enhance its competitive position against market leader Grab Holdings Ltd. The industry is also witnessing innovative collaborations, as exemplified by Gojek's partnership with Selex Motors in September 2023 to integrate electric bikes into their transportation and delivery services. These developments indicate a market that is actively embracing innovation and sustainable practices.
The market structure is undergoing transformation with the emergence of specialized service segments and integration of advanced technologies. According to the Competition and Consumer Protection Agency Commission (CCPC), Vietnam's formal transportation sector comprises approximately 67,000 registered taxi cars and 90,000 licensed contract cars. With Vietnam's car ownership rate standing at 6% in 2022 and projected to reach 9% by 2025, there is significant potential for e-hailing services to bridge the transportation gap. Companies are increasingly focusing on developing comprehensive mobility service solutions that cater to diverse consumer needs, from premium services to affordable daily transportation options. The integration of smart mobility solutions further enhances the efficiency and appeal of shared mobility services in the region.
Vietnam Ride Hailing Industry Trends
Increased Travel and Tourism to Provide Long-Term Momentum in Market
The robust growth in Vietnam's tourism sector has emerged as a significant catalyst for the ride-hailing market's expansion. In 2023, Vietnam witnessed remarkable tourism growth, with South Korea leading international arrivals at approximately 3.6 million visitors, followed by mainland China with 1.7 million tourists, and Taiwan contributing about 851,000 visitors. This substantial influx of international tourists has created a steady demand for reliable and convenient transportation options, particularly transportation app services that offer competitive pricing and ease of use through mobile applications. The tourism sector's strength is further evidenced by the increasing number of domestic tourists, which reached 108.2 million in 2023, demonstrating the robust internal travel market that supports urban mobility services.
The Vietnamese government's proactive approach to boosting tourism through visa reforms has created additional momentum for the ride-hailing market. The country currently offers e-visas to citizens of 80 countries and territories, while citizens from 25 countries can visit without visa requirements, with stay durations ranging from 14 to 30 days. This visa liberalization has been complemented by the extension of e-visa validity periods and the introduction of multiple-entry options, making Vietnam more accessible to global travelers. These policy initiatives, coupled with the growing preference among tourists for flexible smart mobility options, have created a sustainable demand driver for ride-hailing services, as visitors increasingly opt for the convenience and reliability of app-based transportation solutions during their stays.
Increased Internet and Smartphone Penetration to Drive Market Demand
Vietnam's digital transformation has created a fertile environment for ride-hailing services, with internet adoption reaching unprecedented levels. As of early 2023, the country boasted 77.93 million internet users, representing a 79.1% penetration rate, while social media users numbered 70 million, accounting for 71% of the total population. The digital infrastructure is further strengthened by an impressive 161.6 million active mobile connections, surpassing the total population with a 164% penetration rate. This robust digital ecosystem has made Vietnam one of the leading countries in mobile internet usage, with 86.51% of web traffic coming through mobile devices, significantly higher than the global average of 59.45%, positioning the country among the top markets for mobile-first digital transportation services.
The smartphone landscape in Vietnam has shown remarkable maturity, with the Department of Telecommunications reporting over 93.5 million smartphone subscribers by March 2022, representing 73.5% of the adult population. This high smartphone adoption rate has been particularly pronounced in major urban centers, with Hai Phong leading at 78.4% smartphone usage among adults, followed by Da Nang at 77.8%, and Ho Chi Minh City at 75.7%. The increasing competition in the ride-hailing sector has leveraged this digital infrastructure to enhance service quality and pricing competitiveness, as evidenced by recent developments such as Be Group's successful securing of USD 30 million in new funding in January 2024, aimed at challenging market leaders and expanding service offerings. This combination of high smartphone penetration and competitive market dynamics continues to drive innovation and accessibility in the mobility service sector.
Segment Analysis: By Vehicle Type
Passenger Cars Segment in Vietnam Ride-Hailing Market
The passenger cars segment dominates the Vietnam ride-hailing market, commanding approximately 61% market share in 2024, while also emerging as the fastest-growing segment with a projected growth rate of around 21% during 2024-2029. Hatchbacks, sedans, SUVs/MPVs, and luxury cars are the various types of passenger cars offered by the major transportation app players in the market, with sedans covering most of the market share. The growing adoption of electric cars across Vietnam is positively impacting this segment's growth. According to the Competition and Consumer Protection Agency Commission (CCPC), about 67,000 taxi cars and 90,000 contract cars are registered and licensed for business in Vietnam. The rapid expansion of green mobility across the country and increasing demand for e-hailing services are driving significant growth in this segment, with several players establishing various business strategies to capture market share.

Motorcycles Segment in Vietnam Ride-Hailing Market
The motorcycle segment plays a crucial role in Vietnam's ride-hailing ecosystem, with motorcycles being quickly adopted as one of the major modes of transport in the country. The rising population has led to problems such as increased traffic congestion, lack of appropriate public transportation modes, and longer wait times for public transportation services. As a result, the demand for motorcycle transportation app services is attracting more travelers as it provides faster and on-demand services. The country has several major motorcycle manufacturers, such as Honda, Yamaha, Suzuki, Piaggio, and SYM, which hold over 90% of the market share in Vietnam. The segment is also witnessing transformation with the introduction of electric motorcycles, as various players partner to introduce eco-friendly alternatives in their mobility platform fleets.
Segment Analysis: By Propulsion Type
ICE Segment in Vietnam Ride-Hailing Market
The Internal Combustion Engine (ICE) segment continues to dominate the Vietnam ride-hailing market, commanding approximately 81% market share in 2024. This dominance can be attributed to the extensive existing infrastructure supporting traditional fuels, making refueling more accessible and convenient for drivers. The two-wheeler industry in Vietnam has substantial experience producing ICE two-wheelers for decades, with a high local production rate. The country effectively leverages this ICE two-wheeler supply chain, as many vehicle components are similar between ICE and electric variants. According to industry data, ICE passenger cars operated by petrol have maintained the largest indicator in the 'Fuel or Drive-Type Share' metric, with around 59% of the market, while diesel-operated vehicles account for approximately 5%. The remaining portion comprises electric and hybrid models, showcasing the continued strong presence of ICE vehicles in the Vietnamese automotive landscape.
Electric Segment in Vietnam Ride-Hailing Market
The electric segment is experiencing remarkable growth in the Vietnam online taxi market, projected to expand at an impressive CAGR of approximately 45% during 2024-2029. This exceptional growth is driven by Vietnam's commitment to becoming a leader in clean transportation, with the government setting ambitious targets for electric vehicle adoption. The government has implemented comprehensive support measures, including expanding charging station networks, providing financial incentives through tax breaks, reduced registration fees, and subsidies for electric vehicle purchases. Major ride-hailing platforms are actively transitioning their fleets to electric vehicles, with companies like Xanh SM launching Vietnam's first pure electric taxi service in 2023. The segment's growth is further bolstered by partnerships between ride-hailing companies and electric vehicle manufacturers, such as Be Group's collaboration with GSM for electric vehicle leasing services, demonstrating the industry's strong commitment to sustainable transportation solutions.
Vietnam Ride-Hailing Market Geography Segment Analysis
Vietnam Ride-Hailing Market in Ho Chi Minh City
Ho Chi Minh City stands as the epicenter of Vietnam's ride-hailing industry, commanding approximately 28% of the market share in 2023. The city's dominance in the taxi booking sector is driven by its status as Vietnam's economic powerhouse and its large urban population of over 9 million residents. The high smartphone penetration rate and internet connectivity in Ho Chi Minh City have created a conducive environment for ride booking services to thrive. The city's complex transportation needs, coupled with increasing traffic congestion, have led to a growing preference for online taxi services among both residents and tourists. The presence of major business districts, shopping centers, and tourist attractions has created consistent demand throughout the day. Additionally, the city's progressive approach towards electric vehicles in digital taxi services has attracted both established players and new entrants to the market.
Vietnam Ride-Hailing Market in Thanh Hoa
Thanh Hoa province has emerged as the fastest-growing region in Vietnam's ride-hailing market, projected to expand at a CAGR of approximately 21% during 2024-2029. The province's remarkable growth is attributed to its rapid urbanization and increasing tourist influx, particularly in its coastal areas. The local government's supportive policies towards digital transportation services have created a favorable environment for cab booking operators. The province's strategic location and well-developed road infrastructure network have facilitated the expansion of ride-hailing services beyond the urban centers into suburban areas. The growing middle class and increasing smartphone adoption rates have contributed to the rising demand for convenient transportation options. Furthermore, the province's focus on developing tourism infrastructure and attracting investments in the technology sector has created new opportunities for ride booking service providers to expand their operations.
Vietnam Ride-Hailing Market in Hanoi
Hanoi, as Vietnam's capital city, represents a crucial market for ride-hailing services, characterized by its unique blend of historical heritage and modern urban development. The city's extensive network of narrow streets and cultural districts has created specific demands for various vehicle types in taxi booking services, from motorcycles to cars. The increasing adoption of electric vehicles in Hanoi's ride-hailing fleet aligns with the city's environmental sustainability goals. The presence of government offices, educational institutions, and a growing number of technology parks has generated steady demand for cab booking services among professionals and students. The city's expanding public transportation system has created opportunities for ride-hailing services to provide first and last-mile connectivity solutions. Additionally, Hanoi's growing reputation as a tourist destination has contributed to the increased demand for convenient and reliable transportation options.
Vietnam Ride-Hailing Market in Other Provinces
The ride-hailing market in Vietnam's other provinces, including Binh Duong, Dong Nai, Ba Ria - Vung Tau, Hai Phong, Quang Ninh, Bac Ninh, Nghe An, Da Nang, and Vinh Phuc, demonstrates diverse growth patterns influenced by their unique economic and demographic characteristics. These regions are experiencing varying levels of urbanization and digital adoption, creating different opportunities and challenges for ride-hailing services. The coastal provinces benefit from growing tourism sectors, while industrial provinces see demand driven by commuting workers. The expansion of ride-hailing services into these provinces has been supported by improving digital infrastructure and increasing smartphone penetration. Local government initiatives to modernize transportation systems and promote digital services have created favorable conditions for market growth. The adaptation of ride-hailing services to meet specific local needs, such as industrial park shuttles or tourism-focused services, has been crucial for success in these diverse markets.
Vietnam Ride-hailing Industry Overview
Top Companies in Vietnam Ride-Hailing Market
The Vietnam ride-hailing market is characterized by intense competition and continuous innovation among key players like GrabTaxi, Be Group, Gojek Vietnam, and Xanh SM. Companies are increasingly focusing on diversifying their service portfolios beyond basic transportation to include food delivery, financial services, and logistics solutions. The industry witnesses frequent technological upgrades in mobile applications and booking systems to enhance user experience and operational efficiency. Strategic partnerships, particularly with electric vehicle manufacturers and local businesses, have become a crucial trend as companies aim to strengthen their market position. Companies are also expanding their geographical presence across different provinces while simultaneously developing specialized services for specific customer segments, such as premium rides and corporate solutions. The emergence of transportation network companies has further intensified the competitive landscape, driving innovation and service diversification.
Market Dominated by Regional Tech Giants
The Vietnamese ride-hailing landscape exhibits a mix of regional technology conglomerates and local specialists, with regional players holding significant market influence. The market structure shows moderate consolidation, with GrabTaxi maintaining a leadership position while local players like Be Group and Xanh SM actively challenge this dominance through innovative service offerings and local market expertise. The industry has witnessed notable merger and acquisition activities, particularly exemplified by historical deals like Grab's acquisition of Uber's Southeast Asian operations, which significantly altered the competitive dynamics.
The market demonstrates a clear distinction between well-funded regional players with diverse service ecosystems and local specialists focusing on specific market segments or geographical areas. Companies are increasingly pursuing strategic partnerships rather than outright acquisitions, particularly in areas of electric vehicle adoption and digital payment integration. Local players leverage their understanding of Vietnamese consumer preferences and the regulatory environment to maintain competitive positions, while regional players utilize their technological capabilities and financial resources to expand service offerings and market presence. The rise of mobility platforms and shared mobility solutions is reshaping the competitive dynamics, offering consumers more choices and flexibility.
Innovation and Localization Drive Future Success
Success in the Vietnamese ride-hailing market increasingly depends on companies' ability to balance technological innovation with local market understanding. Incumbent players must focus on expanding their service ecosystems, enhancing customer loyalty programs, and optimizing operational efficiency through advanced technologies like AI-driven matching algorithms and predictive analytics. The ability to forge strategic partnerships with local businesses, particularly in emerging areas like electric vehicle adoption and financial services integration, will be crucial for maintaining market leadership.
For emerging players and contenders, the path to success lies in identifying and serving underserved market segments or geographical areas while building strong local partnerships. Companies must navigate complex regulatory requirements, particularly around driver welfare and safety standards, while maintaining competitive pricing structures. The market shows moderate end-user concentration in urban areas, suggesting opportunities in tier-two cities and rural regions. Success will also depend on companies' ability to differentiate their services through unique value propositions, such as specialized corporate solutions or eco-friendly transportation options, while maintaining operational efficiency and service quality. The integration of smart mobility solutions and mobility services is expected to play a pivotal role in shaping the future landscape of the industry.
Vietnam Ride-hailing Market Leaders
-
Xanh SM (GSM)
-
FastGo
-
Go-Jek (Go-Viet)
-
GrabTaxi Holdings Pte Ltd
-
Be Group JSC
- *Disclaimer: Major Players sorted in no particular order

Vietnam Ride-hailing Market News
- March 2024: Following successful launches in Vientiane and the tourist town of Vang Vieng, Xanh SM Laos officially expanded its electric taxi service to Savannakhet Province. This marks Xanh SM’s next step in brand development and the company’s continued commitment toward promoting electric vehicles and environmental protection worldwide.
- January 2024: Mai Linh Corporation expanded its services in Hanoi, Da Nang, and DongNai to further strengthen its legacy in the ride-hailing market.
- October 2023: Gojek, the Indonesian technology firm, announced its expansion into Binh Duong (Di An, Thuan An, and Thu Dau Mot) and Dong Nai (Bien Hoa) provinces, situated as neighboring cities to Ho Chi Minh City (HCMC).
- June 2023: VinFast announced the launch of VF 3, a mini electric car model designed for the Vietnamese market. The VinFast VF 3, categorized as a mini car, presents various advantages, rendering it appropriate for diverse applications and conditions.
Vietnam Ride Hailing Industry Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Market Drivers
- 4.1.1 Increased Travel and Tourism to Provide Long-term Momentum in Market
- 4.1.2 Increased Internet and Smartphone Penetration to Drive Market Demand
-
4.2 Market Challenges
- 4.2.1 Volatility in Fuel Price to Hamper Market Growth over Short-Term
-
4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value in USD billion, Volume in Number of Trips)
-
5.1 By Vehicle Type
- 5.1.1 Passenger Cars
- 5.1.2 Motorcycles
-
5.2 By Propulsion Type
- 5.2.1 Internal Combustion Engine (ICE)
- 5.2.2 Electric
-
5.3 By Province
- 5.3.1 Hanoi
- 5.3.2 Ho Chi Minh
- 5.3.3 Binh Duong
- 5.3.4 Dong Nai
- 5.3.5 Ba Ria-Vung Tau
- 5.3.6 Hai Phong
- 5.3.7 Quang Ninh
- 5.3.8 Bac Ninh
- 5.3.9 Thanh Hoa
- 5.3.10 Nghe An
- 5.3.11 Other Provinces
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
-
6.2 Company Profiles
- 6.2.1 Xanh SM (GSM)
- 6.2.2 GrabTaxi Holdings Inc.
- 6.2.3 GoJek Vietnam (GoViet)
- 6.2.4 Be Group JSC
- 6.2.5 FastGo Vietnam JSC
- 6.2.6 Van Thong E-commerce Joint Stock Company
- 6.2.7 Mai Linh Corporation
- 6.2.8 Viettel Post (MyGo)
- 6.2.9 Vinasun Corporation
- 6.2.10 Lozi Vietnam Joint Stock Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Integration of Telematics and Increasing Adoption of Electric Vehicles Present Growth Opportunities
Vietnam Ride Hailing Industry Segmentation
A ride-hailing service refers to ridesharing services that, via website and mobile applications, match passengers with vehicle drivers for hire that cannot be legally hailed from the street.
The Vietnamese ride-hailing industry analysis report is segmented by vehicle type, propulsion type, and province. By vehicle type, the market is segmented into passenger cars and motorcycles. By propulsion type, the market is segmented into internal combustion engines (ICE) and electric engines. By province, the market is segmented into Hanoi, Ho Chi Minh, Binh Duong, Dong Nai, Ba Ria-Vung Tau, Hai Phong, Quang Ninh, Bac Ninh, Thanh Hoa, Nghe An, and others. The report offers industry size and forecasts in terms of value (USD) for all the given segments.
By Vehicle Type | Passenger Cars |
Motorcycles | |
By Propulsion Type | Internal Combustion Engine (ICE) |
Electric | |
By Province | Hanoi |
Ho Chi Minh | |
Binh Duong | |
Dong Nai | |
Ba Ria-Vung Tau | |
Hai Phong | |
Quang Ninh | |
Bac Ninh | |
Thanh Hoa | |
Nghe An | |
Other Provinces |
Vietnam Ride Hailing Market Research FAQs
How big is the Vietnam Ride-Hailing Market?
The Vietnam Ride-Hailing Market size is expected to reach USD 1.05 billion in 2025 and grow at a CAGR of 19.5% to reach USD 2.56 billion by 2030.
What is the current Vietnam Ride-Hailing Market size?
In 2025, the Vietnam Ride-Hailing Market size is expected to reach USD 1.05 billion.
Who are the key players in Vietnam Ride-Hailing Market?
Xanh SM (GSM), FastGo, Go-Jek (Go-Viet), GrabTaxi Holdings Pte Ltd and Be Group JSC are the major companies operating in the Vietnam Ride-Hailing Market.
What years does this Vietnam Ride-Hailing Market cover, and what was the market size in 2024?
In 2024, the Vietnam Ride-Hailing Market size was estimated at USD 0.85 billion. The report covers the Vietnam Ride-Hailing Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Vietnam Ride-Hailing Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Our Best Selling Reports
Vietnam Ride-Hailing Market Research
Mordor Intelligence provides a comprehensive analysis of the ride-hailing and e-hailing industry in Vietnam. We leverage our extensive expertise in smart mobility research. Our detailed report examines the evolution of transportation network company operations, digital transportation solutions, and mobility platform innovations across the country. The analysis covers everything from taxi booking trends to urban mobility patterns. It provides deep insights into how transportation app usage is reshaping the sector. Our report PDF is available for download, offering a detailed examination of mobility service developments and shared mobility initiatives.
The report benefits stakeholders by providing actionable intelligence on cab booking dynamics and online taxi service expansion throughout Vietnam. We analyze emerging digital taxi technologies and taxi dispatch systems. Additionally, we examine how mobility platforms are transforming traditional services. Our research supports strategic decision-making for businesses operating in the ride booking space, with a particular focus on smart mobility solutions and their implementation. The comprehensive analysis includes detailed forecasts, competitive landscapes, and strategic recommendations. All of this is presented in an easy-to-read report PDF format available for immediate download.