The Vietnam Ride Hailing Market Analysis Report is Segmented by Vehicle Type (Passenger Cars and Motorcycles), by Propulsion Type (Internal Combustion Engine and Electric), and by Province (Hanoi, Ho Chi Minh, Binh Duong, Dong Nai, Ba Ria-Vung Tau, Hai Phong, Quang Ninh, Bac Ninh, Thanh Hoa, Nghe An, and Other Provinces). The Industry Report Offers Size and Market Forecast for the Vietnam Ride-Hailing Market in Terms of Value (USD) for all Segments.

The ARPU in the 'Ride-hailing' segment of the shared mobility market in Vietnam was forecast to continuously increase between 2024 and 2029 by in total 4.9 U.S. dollars (+7.96 percent). After the ninth consecutive increasing year, the indicator is estimated to reach 66.45 U.S. dollars and therefore a new peak in 2029. Notably, the ARPU of the 'Ride-hailing' segment of the shared mobility market was continuously increasing over the past years.Find other key market indicators concerning the revenue and user penetration. The Statista Market Insights cover a broad range of additional markets.

Vietnam ride hailing market size is projected to exhibit a growth rate (CAGR) of 19.17% during 2024-2032. Continuous innovation and diversification of ride hailing services, favorable government regulations and policies, and investments in safety and security measures represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on vehicle type.

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.

In 2019, Grab was the leading ride-sharing platform in Vietnam with 73 percent of the market share. Founded in Singapore in 2012, Grab offers transportation, food delivery, and digital payment services via its mobile app.

Ride-hailing market in Vietnam

Alongside its economic development and the growing internet economy, Vietnam has one of the highest ride-hailing market values within the Southeast Asia region. While Grab has consistently held a prominent part of the market share, other brands have been expanding their portfolios to compete with the market leader. For instance, the Indonesian platform Gojek has expanded its ride-hailing service to include a car-sharing option in addition to bike hailing in early 2021. In the meantime, Vietnamese brand be Group recently partnered up with local taxi brands across the country to launch its beTaxi service.

Impact of the COVID-19 pandemic on the ride-hailing market The COVID-19 pandemic has negatively impacted the global mobility market, including in Vietnam. The spending intention on transportation among Vietnamese consumers decreased drastically during the major outbreak in July 2020 compared to pre-pandemic levels. During lockdowns imposed by the government, the demand for mobility reduced significantly, and ride-hailing services were not spared. For instance, the number of Grab rides went down by over 80 percent in the first half of 2020. On the other hand, the revenue of the ride-hailing segment was forecasted to recover together with Vietnam’s economic recovery.

The number of users in the 'Ride-hailing' segment of the shared mobility market in Vietnam was forecast to continuously increase between 2024 and 2029 by in total 8.8 million users (+31.27 percent). After the ninth consecutive increasing year, the indicator is estimated to reach 36.97 million users and therefore a new peak in 2029. Notably, the number of users of the 'Ride-hailing' segment of the shared mobility market was continuously increasing over the past years.Find other key market indicators concerning the revenue and average revenue per user (ARPU). The Statista Market Insights cover a broad range of additional markets.

According to a survey conducted by Decision Lab, in the second quarter of 2024, Grab, a super app made by Singaporean's Grab Holdings Inc., was the leading ride-hailing app used by Vietnamese respondents, as stated by 62 percent of them. The survey also revealed that Xanh SM, the first Vietnamese electric taxi service from Vingroup was used by 36 percent of the respondents.

The revenue in the 'Ride-hailing' segment of the shared mobility market in Russia was forecast to continuously increase between 2024 and 2029 by in total 1.3 billion U.S. dollars (+23.73 percent). After the ninth consecutive increasing year, the indicator is estimated to reach 6.7 billion U.S. dollars and therefore a new peak in 2029. Notably, the revenue of the 'Ride-hailing' segment of the shared mobility market was continuously increasing over the past years.Find more information concerning Poland and Vietnam. The Statista Market Insights cover a broad range of additional markets.

In 2021, the revenue of the ride-hailing and taxi business in Vietnam is estimated to increase to 3.1 billion U.S. Dollar. At the same time, more and more sales in the market continued to be made online. Sales by this channel increased by another percent and according to the Statista Mobility Market Outlook will continue to grow at a yearly rate of one percent until 2025 when it will make up 31 percent of all sales in the Vietnamese ride-hailing and taxi market.

According to a survey conducted by Decision Lab, in the second quarter of 2024, Grab, a super app made by Singaporean's Grab Holdings Inc., emerged as the most popular ride-hailing platform in Vietnam. It was the top choice for both car and motorbike rides, with 53 percent of respondents using Grab for car rides and 50 percent for motorbike rides. In comparison, XanhSM was the second most frequently used app, preferred by 18 percent of respondents.

The Vietnam connected car market size is projected to exhibit a growth rate (CAGR) of 15.40% during 2024-2032. The rising consumer demand, rapid urbanization, supportive government initiatives, ongoing infrastructure development, heightened safety and security concerns, consumer creativity, growing trend of ride sharing and mobility services, and increasing environmental concerns represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on technology, connectivity solutions, service, and end market.

The APAC Two-Wheeler Taxi Industry is segmented by Vehicle Type (Motorcycle and Scooter), Service Type (Pay as You Go and Subscription-Based), and Geography (China, India, Japan, Thailand, Vietnam, and the Rest of Asia-Pacific). The report offers the market size and forecast in value (USD) for all the above segments.

According to a survey among consumers in Vietnam in the second quarter of 2024 by Decision Lab, Grab, a super app made by Singaporean's Grab Holdings Inc., was the ride-hailing app that was most often used by Vietnamese respondents of all surveyed respondents, as stated by 51 percent of Gen X respondents, 50 percent of Gen Y respondents and 38 percent of Gen Z respondents. Meanwhile, the same survey revealed that XanhSM was used most frequently by 19 percent of Gen Z respondents.

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Moto Taxi Service Market Size 2024-2028

The moto taxi service market size is forecast to increase by USD 12.87 billion at a CAGR of 9.7% between 2023 and 2028.

The market is experiencing significant growth due to several key factors. One major trend driving market growth is the increase in investments for moto taxi startups, reflecting the strong investor confidence in this sector. Additionally, the use of social media and analytics is becoming increasingly prevalent In the industry, enabling providers to better understand customer preferences and tailor their services accordingly. Motorbike owners can use moto-taxi service software to manage customer requests and track distance travelled. However, the market also faces challenges, such as regulatory restrictions and bans on moto taxis in various countries, which can hinder market expansion. Overall, the market is poised for growth, with innovative solutions and regulatory clarity expected to provide new opportunities for market participants.

What will be the Size of the Moto Taxi Service Market During the Forecast Period?

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The moto taxi market, a segment of the passenger transportation industry, is experiencing significant growth due to the increasing demand for efficient transportation options in crowded metropolitan areas. Consumers seek motorbike taxis, also known as moto taxis or motorcycle taxis, as alternative solutions to traditional taxi services. Motorbike riders offer the advantage of navigating through traffic more easily, thus reducing travel time and distance.
Moreover, the market dynamics are influenced by the growing need for cashless payments and the increasing popularity of mobile applications. The convenience and cost-effectiveness of motorbike taxis have made them increasingly popular in various regions. Motorbike taxis, including moto-cabs and motorcycle taxis, cater to passengers looking for a quick and agile transportation solution. Motorbike riders provide a unique and personalized experience, making them a preferred choice for many consumers.

How is this Moto Taxi Service Industry segmented and which is the largest segment?

The moto taxi service industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Service

  E-hailing
  Ride sharing


Application

  Passenger
  Load


Geography

  APAC

    Vietnam


  Europe

    UK
    France


  Middle East and Africa



  South America



  North America

    US

By Service Insights

The e-hailing segment is estimated to witness significant growth during the forecast period.

E-hailing services have revolutionized the transportation industry by enabling users to book moto taxis via mobile applications. This innovative solution connects passengers with local drivers, offering a convenient and efficient alternative to traditional taxi services. The e-hailing segment for moto taxis is particularly popular in Asia Pacific (APAC) due to the region's high population density and challenging road conditions. In countries like China, India, Indonesia, Thailand, and Malaysia, heavy traffic congestion increases the demand for quick and flexible transportation options. Moto taxis provide a cost-effective solution for consumers, especially those who cannot afford private vehicles. E-hailing services offer additional benefits such as real-time tracking, cashless payments, and passenger protection.

Furthermore, government initiatives, favorable regulations, and increasing investment in this sector are further fueling the growth of the moto taxi market. The market's success can be attributed to its ability to address the challenges of urban mobility, including traffic congestion, parking-related problems, and rising fuel prices. E-hailing services also contribute to sustainability by reducing the number of private vehicles on the road. Despite the numerous benefits, challenges such as safety concerns, regulatory issues, and competition from other transportation modes persist. Market research reports provide valuable insights into the key developments, strengths, weaknesses, and future opportunities In the moto taxi market.

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The e-hailing segment was valued at USD 16.91 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 58% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The Asia Pacific region is ex

As of the first half of 2020, Grab was the leading ride-sharing platform in Vietnam with 74.6 percent of the market share. Founded in Singapore in 2012, Grab offers transportation, food delivery, and digital payment services via its mobile app.

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Over the last two observations, the number of users is forecast to significantly increase in all segments. As part of the positive trend, the indicator achieves the maximum value across all four different segments by the end of the comparison period. Notably, the segment Ride-hailing stands out with the highest value of 28,827,756.61 users. The Statista Market Insights cover a broad range of additional markets.

According to a survey conducted by Q&Me in May 2021, Grab was the leading ride-hailing platform in Vietnam in terms of usage. Meanwhile, around two percent of the survey participants reported using other services than the ones listed.

According to a survey conducted by Decision Lab, in the second quarter of 2024, around seven percent of Gen Z respondents revealed that they used GoJek app most often when ordering a motorbike ride. Meanwhile, this number among Gen X was two percent. Headquartered in Indonesia, GoJek entered Vietnam's ride-hailing market in 2018 and became one of the leading ride-hailing apps in the country.

The number of users in the 'Ride-hailing' segment of the shared mobility market in Asia was forecast to continuously increase between 2024 and 2029 by in total 364 million users (+31.97 percent). After the ninth consecutive increasing year, the indicator is estimated to reach 1.5 billion users and therefore a new peak in 2029. Notably, the number of users of the 'Ride-hailing' segment of the shared mobility market was continuously increasing over the past years.Find more information concerning Vietnam and the United Kingdom. The Statista Market Insights cover a broad range of additional markets.