Vietnam Taxi Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Vietnam Taxi Market Report is Segmented by Service Type (Traditional Taxi and Ride-Hailing), Propulsion Type (Internal Combustion Engine (ICE) and Electric & Hybrid) and Province (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). The Report Offers the Market Size and Forecast in Value (USD) for all the Above Segments.

Vietnam Taxi Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Vietnam Taxi Market Size

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Vietnam Taxi Market Summary
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

Vietnam Taxi Market Major Players

*Disclaimer: Major Players sorted in no particular order

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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's taxi industry has surged in recent years, driven by urbanization and rising demand for ride-hailing services. In 2024, 40.6% of Vietnam's population resided in urban areas, a figure that's been steadily climbing.

Ride-hailing and taxi services have become increasingly popular in Vietnam, largely due to their convenience and accessibility. With just a few taps on a smartphone app, users can book a ride and have a car arrive within minutes. This ease of use has reshaped travel habits in Vietnam, especially in bustling cities where parking is often a challenge. Like many countries, Vietnam boasts a significant population of smartphone users who value the convenience of on-the-go access. Notably, 52.1% of these users fall within the 18 to 24 age bracket.

Another driving force behind the rising demand for ride-hailing and taxi services in Vietnam is their affordability compared to traditional transportation methods. When factoring in parking costs, many find that using a ride-hailing service or taxi is more economical than owning and maintaining a personal vehicle. Technological advancements have significantly boosted the demand for these services. Smartphone apps have streamlined the booking and tracking process, while GPS technology and digital payment integrations have elevated the passenger experience.

Factors including convenience, affordability, safety, technological innovation, and environmental awareness are fueling Vietnam's robust demand for ride-hailing and taxi services. As long as these elements remain influential, the sector is poised for further growth and expansion.

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 January 2024, Mai Linh Corporation bolstered its presence by expanding services in Hanoi, Da Nang, and Dong Nai.

Conversely, ride-hailing titans like Grab and Be harness the power of efficient app-based bookings and competitive pricing, claiming a substantial market share. Their diverse offerings, spanning bike taxis to carpooling, cater to a spectrum of customer demands, from affordability to speed and convenience. The uptick in smartphone adoption and enhanced internet access in urban and semi-urban locales has fueled their swift ascent. These platforms further capitalize on sophisticated algorithms that refine routes and pricing, elevating the customer experience. Yet, challenges loom large: mounting regulatory scrutiny, adherence to local laws and tax mandates, and intensifying competition from emerging local entities eager to stake their claim. As the market landscape evolves, both traditional and app-centric services must adapt, embracing technological shifts and navigating regulatory changes to stay in the race.

In the recent years, Xanh SM has emerged as a prominent player, offering traditional taxi services and ride-hailing services. The company entered the market in April 2023 and since the establishment, the company has focused on rapid presence expansion across 61 provinces in Vietnam. The company operates through an innovative business model, where the company own its own fleet of electric vehicles and drivers operate as full-time employee for the company. This business model and competitive pricing has helped the company gain signficant consumer base and has helped the company become leading company.  

Vietnam Taxi Market Leaders

  1. Xanh SM (GSM)

  2. Grabtaxi Holdings Inc.

  3. Be Group JSC

  4. Mai Linh Corporation

  5. Vinasun Corporation

  6. *Disclaimer: Major Players sorted in no particular order
Vietnam Taxi Market Concentration
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Vietnam Taxi Market News

  • 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.
  • October 2024: Mai Linh and Taxi Group launched VinFast VF 3 electric taxis in northern Vietnam, offering fares as low as VND 6,000 ($0.24) per km—50% cheaper than gasoline taxis. This undercuts traditional taxis and ride-hailing apps like Grab and Vinasun, whose rates start at VND12,000 ($0.47) per km, prompting a market-wide reassessment of pricing strategies.
  • April 2024: Lado Taxi entered into a memorandum of understanding with Green and Smart Moving JSC (GSM), a subsidiary of Vingroup. The deal entails Lado Taxi acquiring and leasing an additional 2,500 VinFast electric cars over the next three years. GSM is set to deliver 500 vehicles in 2024, bringing Lado's electric taxi fleet close to the 1,000 mark. The remaining 2,000 cars are slated for delivery in 2025 and 2026.

Vietnam Taxi Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions & Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

  • 2.1 Research Framework
  • 2.2 Secondary Research
  • 2.3 Primary Research
  • 2.4 Data Triangulation & Insight Generation

3. EXECUTIVE SUMMARY

  • 3.1 Executive Summary and Key Findings
  • 3.2 Taxi market share (in %), by company, Vietnam, Change in market ranking/position, from Q1 2024 to Q4 2024 (Based on Market Share)
  • 3.3 Market Ranking in terms of GMV/Day
  • 3.4 Market Ranking in terms of Number of Trips
  • 3.5 Market Ranking in terms of Network Coverage
  • 3.6 Market Ranking in terms of Service (Service Quality)
  • 3.7 Role of Taxi and Ride-Hailing Companies in Vietnam
  • 3.8 Assessing the Market Potential By Introducing Electric Vehicles to the Taxi Market in Vietnam and Other Countries
  • 3.9 Market Aspects that Can Attract Investment
  • 3.10 Key Success Factor for Vietnam Taxi and Ride-hailing Service

4. MARKET DYNAMICS

  • 4.1 Market Drivers
    • 4.1.1 Increased Travel and Tourism to Provide Long-term Momentum in the Market
    • 4.1.2 Increased Internet and Smartphone Penetration to Drive Market Demand
  • 4.2 Market Restraints
    • 4.2.1 Rising Operational Costs May Hamper the Expansion of the Target Market
  • 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/Services
    • 4.3.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Service Type
    • 5.1.1 Traditional Taxi
    • 5.1.2 Ride-Hailing
  • 5.2 Propulsion Type
    • 5.2.1 Internal Combustion Engine (ICE)
    • 5.2.2 Electric and Hybrid
  • 5.3 Province
    • 5.3.1 Ho Chi Minh City
    • 5.3.2 Ha Noi
    • 5.3.3 Quang Ninh
    • 5.3.4 Binh Duong
    • 5.3.5 Vung Tau
    • 5.3.6 Dong Nai
    • 5.3.7 Bac Ninh
    • 5.3.8 Da Nang
    • 5.3.9 Thanh Hoa
    • 5.3.10 Thai Nguyen
    • 5.3.11 Vinh Phuc
    • 5.3.12 Can Tho
    • 5.3.13 Hung Yen
    • 5.3.14 Phu Tho
    • 5.3.15 Ninh Binh
    • 5.3.16 Hue
    • 5.3.17 Others (Hai Phong, Nghe An, Etc.)

6. COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Benchmarking of Major Players
  • 6.3 Company Profiles
    • 6.3.1 Xanh SM (GSM)
    • 6.3.2 Grabtaxi Holdings Inc.
    • 6.3.3 TADA
    • 6.3.4 Be Group JSC
    • 6.3.5 Mai Linh Corporation
    • 6.3.6 inDrive
    • 6.3.7 Vinasun Corporation
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Vietnam Taxi Industry Segmentation

Taxi services encompass both ride-hailing platforms and traditional offline taxis. Ride-hailing, an online service, connects passengers with drivers through websites and mobile apps. In contrast, traditional taxis can be hailed directly from the street, without the need for any app or website booking.

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).

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.

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.

Vietnam Taxi Market Report Snapshots