| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 1.33 Billion |
| Market Size (2030) | USD 3.70 Billion |
| CAGR (2025 - 2030) | 22.70% |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Vietnam Taxi Market Analysis
The Vietnam Taxi Market size is estimated at USD 1.33 billion in 2025, and is expected to reach USD 3.70 billion by 2030, at a CAGR of 22.70% during the forecast period (2025-2030).
Vietnam is long and narrow, extending over 1,650 km north to south while varying in width between 50 km and 500 km. Most of the country's population resides along the coasts; Vietnam has a 3,260 km coastline on the South China Sea and the Gulf of Tonkin, as well as over 3,000 islands and extensive internal waterways. Accordingly, an exceptionally high share of freight is transported by water.
Taxis have become a primary mode of transportation in Vietnam. Following the 2016 implementation of Decision No. 24/QD-BGTVT by the Ministry of Transport, which aimed to reduce costs for Vietnamese taxis and mobile app booking services, demand for taxis in the country has surged. As more users turn to taxi services, the sector's revenue is poised for significant growth in the coming years. In addition, the rising popularity of taxis and aggressive marketing strategies focused on pricing and innovation have also intensified competition. For instance,
Vingroup’s Xanh SM is rolling out its S2S (Secure to Safe) safety monitoring system across its electric taxi fleet, with a completion target of April 2025. This move underscores a commitment to bolstering passenger safety, especially for vulnerable groups like children, women, and the elderly, and aligns with global safety benchmarks. The initiative also highlights Vingroup’s dedication to integrating advanced technology into its services to enhance user experience and safety.
Additionally, traditional taxi companies now find themselves competing with a wave of new global players entering the market. The integration of advanced technology, such as GPS tracking and cashless payment systems, has further enhanced the appeal of taxi services, making them more convenient and accessible for consumers. This technological advancement is expected to play a crucial role in shaping the competitive landscape of the sector in the forecast period.
According to a report by FiinGroup, a prominent local service financial data provider, Vietnam was targeted to have 50 million active e-wallets by the end of 2024, a nearly 40% increase from the previous year. Before that, 36 million e-wallets were in use in Vietnam as of the end of 2023.
In January 2024, non-cash transactions saw a volume uptick of 63.3% and a value rise of 41.45% compared to the same month in 2023. Transactions via the Internet channel grew by 57.85% in volume and 32.43% in value, while the mobile phone channel experienced a 68.54% increase in volume and a 41.12% rise in value. These figures underscore the growing preference for digital and mobile payment methods among Vietnamese consumers.
In Vietnam, traditional taxi services are a staple, offering a seamless way to navigate cities and tourist hotspots. Some of the major players dominate the landscape, ensuring reliable, metered transportation. This is attributed to their professional drivers and well-maintained vehicles, which contribute to their reputation for safety and reliability. Whether hailed on the street, found at designated stands, or booked via hotel services, these taxis have earned the trust of both locals and tourists alike. Additionally, their widespread availability makes them a convenient option for travelers seeking hassle-free transportation.
Vietnam Taxi Market Trends
Surge in Electric Vehicle Sales Drives Market Expansion
In Vietnam, as electric vehicles (EVs) gain traction, there's a notable surge in demand for services associated with them. These services, now viewed as both practical and economical compared to their traditional fuel counterparts, are transforming the country's transportation scene, notably the taxi sector. This evolution is fueled by a growing consciousness towards environmental sustainability, supportive government incentives, and strides in EV technology.
By selecting taxi services that utilize electric or hybrid vehicles, passengers actively contribute to reducing air pollution and fostering a cleaner environment. Governments and organizations are also incentivizing the adoption of electric and hybrid vehicles, further accelerating the transition to greener transportation options within the car taxi market. For instance,
- In February 2025, Motoru.ru will report that VinFast, the Vietnamese automaker, will be rolling out its affordable electric vehicles (EVs) for taxi services. VinFast is making significant strides in Vietnam, unveiling a lineup of commercial models tailored for taxi firms and car rental services. The company has plans for four EVs: two will be variants of its current models, while the other two will be entirely new creations.
As more people embrace electric vehicles (EVs), innovations are sprouting in related services. Mobile charging solutions and subscription-based battery swapping programs are enhancing the user experience. These advancements also present taxi operators with fresh opportunities to refine their services. Additionally, government-backed initiatives promoting clean energy and aiming to reduce carbon emissions are accelerating the move towards electric mobility. This push is motivating taxi operators to make the switch to EV fleets. For instance,
- Xanh SM, a pioneer in Vietnam's electric ride-hailing sector, is revolutionizing mobility with zero-emission VinFast vehicles. Since its debut, Xanh SM has cut over 100,000 tonnes of CO2 emissions in 18 months and plans to expand globally. Leveraging AWS cloud technology and strategic partnerships, Xanh SM aims to provide sustainable, eco-friendly transportation solutions, aligning with Vietnam's goal of net-zero emissions by 2050.
Due to their affordability, accessibility, and eco-friendliness, electric vehicles (EVs) have emerged as the preferred choice for numerous Vietnamese commuters, notably in taxi services. With rapid technological advancements, an expanding charging infrastructure, and a heightened focus on sustainability, Vietnam's EV sector is witnessing significant growth. As the country moves towards a greener future, the ascent of electric vehicles is set to reshape its transportation scene, creating new opportunities for businesses and consumers alike, especially in the taxi industry.
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Ho Chi Minh City leads the market
In Vietnam, urbanization, technological advancements, infrastructure upgrades, rising disposable incomes, and a heightened focus on safety and security are fueling the demand for passenger car taxis. With these trends continuing to evolve, Vietnam's passenger car taxi market is set for further growth. Additionally, the surge in popularity of ride-hailing platforms like Grab has bolstered this expansion, providing consumers with seamless access to taxi services via mobile apps.
Tourists are flocking to the region, and residents are increasingly opting for the convenience of private transport, fueling robust growth in the taxi and ride-hailing industry. Moreover, with the rising penetration of the internet and smartphone usage in Vietnam, accessing ride-hailing platforms has become easier, further propelling the adoption of these services. This momentum is anticipated to persist throughout the forecast period, bolstering the market's sustained growth.
- In December 2024, Ho Chi Minh City's municipal Department of Tourism set ambitious targets for 2025: welcoming 8.5 million international tourists and 45 million domestic visitors, aiming for a tourism revenue of VND260 trillion (USD10.2 billion). These targets highlight the city's focus on strengthening its tourism sector, which is expected to boost the demand for taxi and ride-hailing services significantly. The influx of tourists, coupled with the growing domestic travel market, is likely to create substantial opportunities for service providers in the transportation industry.
As ride-hailing and taxi usage surges, the market is set for significant growth. A key driver of this uptick has been the influx of international tourists to Vietnam over recent years. Notably, Ho Chi Minh City, a favored destination for many tourists, has been at the forefront of this rapid industry expansion.
Ho Chi Minh Province grapples with a swiftly urbanizing population, limited public transport, and escalating traffic congestion. These challenges have spurred a heightened demand for private transportation. The lack of efficient public transit options has made private modes of transport, such as taxis and ride-hailing services, a preferred choice for many.
The government is pushing for electric vehicle adoption to foster a sustainable transportation ecosystem. These efforts not only combat climate change but also nurture the taxi and ride-hailing services in cities such as Ho Chi Minh City. As a result, the sector is poised to see increased investments, spur innovation, and bolster the growth of eco-friendly transportation solutions, reinforcing the market's upward trajectory.
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Vietnam Taxi Industry Overview
In Vietnam's taxi market, traditional operators and tech-savvy ride-hailing platforms are locked in a battle for supremacy. Over the years, these companies have cultivated a reputation for reliability, primarily catering to customers who favor traditional booking methods and fixed pricing. Yet, they grapple with challenges: surging operational costs, from fuel to maintenance, and a rising consumer tilt towards the convenience of app-based services. In a bid to seize a larger slice of the market, players are broadening their horizons. For instance,
- In March 2025, Haima Motor, a Chinese automaker, unveiled its 7X-E battery electric vehicle (BEV) model in Vietnam's taxi market, as announced on its WeChat account. Partnering with Carvivu Vietnam Joint Stock Company ("Carvivu"), this move marks a significant step in Haima Motor's push into Association of Southeast Asian Nations' (ASEAN's) green transportation arena.
- In December 2024, Xanh SM (GSM) announced that it has established strategic partnerships with nine Indonesian partners to drive the green transport revolution in the region. The partners—XL Axiata Business Solutions, Lippo, Bank Central Asia (BCA), ASRI, Visa, Huawei, Lotte Group, Vietjet, and FPT—are committed to accompanying Xanh SM to develop sustainable mobility solutions, delivering tangible value and exceptional experiences to customers in Indonesia.
Vietnam Taxi Market Leaders
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Xanh SM (GSM)
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Grabtaxi Holdings Inc.
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Be Group JSC
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Mai Linh Corporation
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Vinasun Corporation
- *Disclaimer: Major Players sorted in no particular order
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Vietnam Taxi Market News
- April 2025: Xanh SM is implementing the S2S (Secure to Safe) safety monitoring system across its nationwide electric taxi fleet. This initiative positions Xanh SM as the first taxi company in Vietnam to adopt comprehensive safety measures for passengers, particularly children, women, and the elderly, aligning with standards of developed nations. The S2S system includes interior and exterior surveillance cameras, emergency buttons for drivers and passengers, smart sensors, and AI-powered software for real-time behavior analysis and anomaly detection. In case of incidents or threats, the system alerts the Operations Center for immediate support from nearby drivers or authorities.
- March 2025: Grab Holding Ltd. has introduced a new development with the launch of its Pre-booking feature, enabling users in Vietnam to schedule GrabCar rides by selecting their desired time and pick-up point, thereby enhancing travel planning capabilities. After launching the service, nearly 50% of trips were pre-booked to airports in Q1 2025, with Tan Son Nhat International Airport (HCMC) alone representing over 35% of those bookings.
- December 2024: Effective January 1, 2025, Vietnam's updated taxi regulations, under Decree No. 158/2024/ND-CP, will allow passengers to negotiate fares directly with taxi operators. To ensure transparency and accountability, businesses will be required to issue e-invoices at the end of each trip. These changes are part of the government's broader efforts to standardize road transport and enhance taxi service operations.
Vietnam Taxi Industry Segmentation
A taxi service includes ride-hailing services and offline traditional taxi services. Ride hailing service refers to an online service, that via website and mobile applications, match passengers with drivers of vehicles for hire. Whereas the offline traditional taxi services can be held by the passengers from the street and does not require any smartphone-based applications of websites to book the ride. The scope of the study includes passenger cars taxi services and ride-hailing services, whereas two-wheeler taxi services and ride-hailing services have been excluded from the scope
Vietnam Taxi Market is segmented by Service Type, Propulsion Type, and Province. By Service Type, the market is segmented into Traditional Taxi and Ride-Hailing. By Propulsion Type, the market is segmented into Internal Combustion Engine (ICE) and Electric & Hybrid. By Province, the market is segmented into Ho Chi Minh City, Hà Nội, Quảng Ninh, Binh Duong, Vũng Tàu, Dong Nai, Bắc Ninh, Đà Nẵng, Thanh Hóa, Thái Nguyên, Vĩnh Phúc, Cần Thơ, Hưng Yên, Phú Thọ, Ninh Bình, Huế and Others. For each segment, market sizing and forecast have been done on the basis of value (USD) and volume (Number of Trips).
| Service Type | Traditional Taxi |
| Ride-Hailing | |
| Propulsion Type | Internal Combustion Engine (ICE) |
| Electric and Hybrid | |
| Province | Ho Chi Minh City |
| Ha Noi | |
| Quang Ninh | |
| Binh Duong | |
| Vung Tau | |
| Dong Nai | |
| Bac Ninh | |
| Da Nang | |
| Thanh Hoa | |
| Thai Nguyen | |
| Vinh Phuc | |
| Can Tho | |
| Hung Yen | |
| Phu Tho | |
| Ninh Binh | |
| Hue | |
| Others (Hai Phong, Nghe An, Etc.) |
Service Type
| Traditional Taxi |
| Ride-Hailing |
Propulsion Type
| Internal Combustion Engine (ICE) |
| Electric and Hybrid |
Province
| Ho Chi Minh City |
| Ha Noi |
| Quang Ninh |
| Binh Duong |
| Vung Tau |
| Dong Nai |
| Bac Ninh |
| Da Nang |
| Thanh Hoa |
| Thai Nguyen |
| Vinh Phuc |
| Can Tho |
| Hung Yen |
| Phu Tho |
| Ninh Binh |
| Hue |
| Others (Hai Phong, Nghe An, Etc.) |
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Vietnam Taxi Market Research Faqs
How big is the Vietnam Taxi Market?
The Vietnam Taxi Market size is expected to reach USD 1.33 billion in 2025 and grow at a CAGR of 22.70% to reach USD 3.70 billion by 2030.
What is the current Vietnam Taxi Market size?
In 2025, the Vietnam Taxi Market size is expected to reach USD 1.33 billion.
Who are the key players in Vietnam Taxi Market?
Xanh SM (GSM), Grabtaxi Holdings Inc., Be Group JSC, Mai Linh Corporation and Vinasun Corporation are the major companies operating in the Vietnam Taxi Market.
What years does this Vietnam Taxi Market cover, and what was the market size in 2024?
In 2024, the Vietnam Taxi Market size was estimated at USD 1.03 billion. The report covers the Vietnam Taxi Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Vietnam Taxi Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Vietnam Taxi Industry Report
Statistics for the 2025 Vietnam Taxi market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vietnam Taxi analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
