Market Share of Vietnam Ride-Hailing Industry
The Vietnamese ride-hailing market is moderately consolidated, with players like Grab Holdings Inc., Xanh SM (GSM JSC), Be Group JSC, Go-Viet, and FastGo in Vietnam. The greatest threat to Grab Holdings Inc. in the future may come from Xanh SM, Vietnam's first-ever pure electric taxi company. Xanh SM has been aggressively expanding its market foothold due to its strong partnership growth. The company has partnered with several taxi firms across Vietnam, including Lado Taxi, Sơn Nam, Thanh Ha Transport, ASV Airport Taxi, En Vang, and Taxi Xanh Sapa.
Several players in the market studied are engaged in mergers, strategic partnerships, and new product and service launches to stay ahead of the competition. For instance:
- In July 2023, Grab Holdings declared its intention to acquire the entire shareholding of Trans-cab Holdings. This acquisition, encompassing Trans-cab's taxi and car rental operations, maintenance workshop, and fuel pump activities, was executed through Grab's subsidiary.
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
