| Study Period | 2020 - 2031 |
| Forecast Data Period | 2026 - 2031 |
| Base Year Market Size (2025) | USD 1.54 Billion |
| Market Size (2026) | USD 1.94 Billion |
| Market Size (2031) | USD 4.62 Billion |
| CAGR (2026 - 2031) | 18.99% |
| Market Concentration | High |
Major Players *Disclaimer: Major Players sorted in no particular order |
Vietnam Taxi Market Analysis by Mordor Intelligence
The Vietnam Taxi Market size is projected to expand from USD 1.54 billion in 2025 and USD 1.94 billion in 2026 to USD 4.62 billion by 2031, registering a CAGR of 18.99% between 2026 to 2031.
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 Green SM has rolled out its S2S (Secure to Safe) safety monitoring system across its electric taxi fleet. 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 the State Bank of Vietnam, over the past five years, the number and value of cashless payment transactions have surged by an average of 58.86% and 24.36% annually. Transactions via the internet saw a yearly uptick of 60.6% in number and 31.92% in value. Meanwhile, mobile phone transactions experienced a robust climb, with a 73.32% increase in volume and a 52.55% rise in value. QR code payments lead the pack, boasting a remarkable surge of 106.24% in volume and an even more impressive 128.15% in value. By December 2025, individual payment accounts crossed the 232 million mark, marking a 13.68% increase from the previous year. Bank cards in circulation also witnessed a boost, exceeding 164 million by December 2025, a year-on-year rise of 5.32%. From 2021 to 2025, domestic card transactions witnessed an average annual increase of 13.9%, with transaction values growing at a rate of 12.08% each year.
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.
Note: Market size and forecast figures in this report are generated using Mordor Intelligence’s proprietary estimation framework, updated with the latest available data and insights as of January 2026.
Vietnam Taxi Market Trends and Insights
Economic Rebound And Surge In Tourism Across The Country
Increasing international tourist arrivals are expected to continue supporting growth in Vietnam's passenger car taxi market, as tourists often choose online ride-hailing services for their competitive pricing. Vietnam's inbound tourism sector is expected to record significant growth in Q2 2026, surpassing previous records. Although April to June typically represents a slower period for tourism in Vietnam, the country is expected to witness strong growth compared to previous years. International tourist arrivals in the first half of 2026 increased by 14.9% compared to the first half of 2025.
The combination of convenience and the changing dynamics of urban mobility continues to drive demand for online passenger car taxi services in Vietnam. This growth is primarily attributed to the government's strategic initiative outlined in Resolution 11/NQ-CP, which aims to enhance the travel experience for tourists from Poland, the Czech Republic, and Switzerland.
The initiative introduces short-term visa exemptions, simplifying travel procedures and encouraging tourists to explore. As a result, this measure is expected to drive a substantial increase in visitors from these nations, contributing to the local culture and economy throughout the year. This policy reflects the government's commitment to promoting international tourism and creating a welcoming environment for travelers seeking new destinations.
Travelers are opting for organized taxi services for sightseeing, aiming for a hassle-free way to visit must-see destinations. This rise in tourist numbers and transportation demand highlights the crucial role of reliable transportation in enhancing the travel experience in these key Vietnamese cities.
Vietnam's growing prominence as a destination for conferences, exhibitions, and business meetings has significantly increased the demand for reliable taxi services. The rise in business travel and international events has driven local taxi operators to enhance their services to meet this demand.
To address the growing needs, taxi companies are expanding their fleets to accommodate the increasing number of passengers. These expansions include investments in modern vehicles equipped with advanced technology to provide comfort, safety, and convenience for international travelers.
Additionally, operators are focusing on improving service quality by training drivers in customer service and adopting practices that cater to a diverse clientele. These efforts not only fulfill the immediate requirements of tourists but also strengthen the competitive positioning of local businesses, ensuring a positive and memorable experience for visitors to Vietnam.
As a result, during Q1 2026, Vietnam's passenger car taxi industry witnessed notable growth, driven primarily by a surge in tourism. The increased influx of travelers boosted the demand for transportation services, revitalizing the market and expanding the taxi segment.
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 Green SM and Grab has bolstered this expansion, providing consumers with seamless access to taxi services via mobile apps.
Ho Chi Minh City, Vietnam's largest economic center and most populous city, stands as a pivotal transportation hub. This status fuels a robust demand for both traditional taxis and ride-hailing services. With a dynamic population, a thriving tourism sector, and bustling commercial areas, the city witnesses substantial daily taxi usage, keeping its streets lively around the clock.
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. The number of tourists arrival in the province is anticipated to witness steady growth throughout the forecast period, bolstering the market's sustained growth.
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.
In the first half of the year 2026, Ho Chi Minh City saw nearly 6.4 million international tourist arrivals, witnessing a growth of around 49% compared to same period of the last year, signaling a robust rebound in its tourism sector. While domestic travelers made up the bulk of the numbers, a resurgence in international arrivals bolstered the city's tourism growth.
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. Ho Chi Minh City has set a target of 50% electrification for ride-hailing and government fleets by 2027, with all new or replacement taxis required to use green energy by 2030. Infrastructure commitments include the establishment of over 1,500 public charging stations and battery swapping points. These cities not only account for the majority of national taxi demand but also influence provincial markets through their regulatory frameworks and electrification strategies. 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.
Competitive Landscape
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 June 2026, Green SM launched its all-electric ride-hailing services in Almaty, Kazakhstan, marking the company's first expansion across Central Asia.
- In February 2026, Vinasun announced a significant investment of around USD 25 million to roll out 800 hybrid taxis, focusing on Toyota Yaris and Innova models. To promote eco-friendly choices, the company decided to keep fares for these hybrid vehicles on par with those for traditional vehicles, ensuring no extra cost for passengers.
- In January 2026, Bamboo Airways and Green SM inked a memorandum of understanding to merge air travel and electric mobility. The duo planned to roll out co-branded products, promotional deals, and services that seamlessly integrate Bamboo Airways flights with Green SM’s all-electric transport. Furthermore, they aimed to establish connections between Green SM’s EV offerings and the Bamboo Club frequent-flyer program. In addition, they would offer electric mobility solutions to Bamboo Airways staff and were exploring special air-ticket policies for Green SM employees.
Vietnam Taxi Industry Leaders
Green SM
Grabtaxi Holdings Inc.
Be Group JSC
Mai Linh Corporation
Vinasun Corporation
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- April 2026: Grab Vietnam announced the launch of a major bonus program for its driver partners nationwide, particularly during the long holiday period. The program aimed to help drivers increase their income and provide additional motivation, while also supporting Grab in expanding its driver network to meet transportation and dining needs across the country.
- March 2026: V-Green, a sister company of VinFast, announced its plan to establish 99 fast-charging stations by the end of 2026 to accommodate the increasing number of VinFast electric vehicles in the country. The company intends to install these charging stations along national and provincial highways, strategically spaced across 34 provinces and cities, to improve convenience for long-distance travel.
- January 2026: Grab announced a partnership with GAC to deploy an initial fleet of 20,000 electric vehicles across Southeast Asia, including Vietnam, to expand its EV operations. Under the agreement, GAC will introduce three vehicle models featuring advanced functionalities, such as 90-degree door openings, designed to meet the needs of professional ride-hailing drivers.
- December 2025: Green SM Laos entered into a strategic cooperation agreement with the Vietnam Business Association in Laos (AVILA) to address the increasing demand for safe, transparent, and environmentally friendly transportation services within the business community in Laos. This partnership represents a significant step in expanding green mobility solutions across Vientiane and nearby regions, aligning with the sustainable development goals advocated by the Lao Government.
- October 2025: Green SM expanded its international footprint with the launch of Green SM in Surabaya, marking Indonesia’s first premium all-electric taxi service. The entry, supported by local government and transport authorities, highlights the scalability of the company’s electric taxi model beyond Vietnam. This international expansion strengthens Green SM’s brand credibility and reinforces its leadership position in Vietnam’s passenger car taxi market by demonstrating regional adoption of its technology-driven, sustainable mobility platform.
- September 2025: Grab integrated its ride-hailing services into Alipay+ Voyager, allowing international digital wallet users to book rides seamlessly while traveling in Vietnam. This development enhances convenience for inbound tourists, supports tourism-related taxi demand, and strengthens Grab’s position in the Vietnam passenger car taxi market by improving access for cross-border users through familiar payment ecosystems.
Vietnam Taxi Market Report Scope
A taxi service includes ride-hailing services and offline traditional taxi services. A ride-hailing service refers to an online service that, via the website and mobile applications, matches passengers with drivers of vehicles for hire. Whereas the offline traditional taxi services can be accessed by passengers from the street and do not require any smartphone-based applications or 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 Propulsion Type and by Province. 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).
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.) |
| 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.) |
Key Questions Answered in the Report
How big is the Vietnam Taxi Market?
The Vietnam Taxi Market size is expected to reach USD 1.94 billion in 2026 and grow at a CAGR of 18.99% to reach USD 4.62 billion by 2031.
What is the current Vietnam Taxi Market size?
In 2026, the Vietnam Taxi Market size is expected to reach USD 1.94 billion.
Who are the key players in Vietnam Taxi Market?
Green SM, 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 2025?
In 2025, the Vietnam Taxi Market size was estimated at USD 1.57 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, 2030 and 2031.
Page last updated on:
Vietnam Taxi Market Report
Statistics for the 2026 Vietnam Taxi market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vietnam Taxi analysis includes a market forecast outlook for 2026 to 2031 and historical overview. Get a sample of this industry analysis as a free report PDF download.
