Shared Mobility - Vietnam

Vietnam

Vietnam's Shared Mobility market is expected to experience significant growth in the coming years.
By 2024, revenue in this market is projected to reach €11,720.00m, with an annual growth rate of 5.34% from 2024 to 2029, resulting in a projected market volume of €15,200.00m by 2029.
The largest market within Shared Mobility is the Flights market, which is expected to reach a market volume of €5,913.00m by 2024.
In Vietnam, the number of Public Transportation users is expected to amount to 73,820.00k users by 2029.
The user penetration of 69.5% in 2024 is projected increase to 79.4% by 2029.
The average revenue per user (ARPU) is expected to be €217.50.
By 2029, 68% of the total revenue in Vietnam's Shared Mobility market will be generated through online sales.
It is noteworthy that in global comparison, China is expected to generate the most revenue in this market, reaching €338bn in 2024.
Vietnam's shared mobility market is rapidly growing, with ride-hailing services like Grab and GoViet leading the charge.

Key regions: United States, Saudi Arabia, Germany, Malaysia, India

Definition:

The Shared Mobility market encompasses a diverse range of long- and short-distance mobility services. As the world moves towards a more connected and digital era, the Shared Mobility market is central to driving innovation, collaboration, and the development of intelligent transportation systems.

Structure:

The market consists of eleven further markets. These include the following markets:

The Car Rentals market contains vehicle rentals that have been booked in person, by telephone via the internet or an app.
The Car-sharing market includes professionally run car-sharing services that provide on-demand access vehicles, allowing users to rent cars for short periods, e.g., by minute or hour.
The Bike-sharing market contains short-term bike-sharing services. Bicycles can be found in the provider’s business zone where they are either parked at designated stations or freely distributed without fixed docks.
The Ride-hailing market encompasses on-demand transportation services facilitated through mobile apps or online platforms. This market covers both private vehicle rides and taxi services, all booked exclusively online.
The Taxi market covers exclusively traditional taxi services booked offline, typically via street hailing or phone calls.
The Flights market contains air travel bookings regardless of the purchase channel, such as an airline's website or a travel agency.
In the Public Transportation market, revenues generated by ticket sales from public transportation companies are considered.

Additional Information:

The main performance indicators of the Shared Mobility market are revenues, average revenue per user (ARPU), user numbers and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. User numbers show only those individuals who have made a reservation, independent of the number of travelers on the booking. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked rides made by users from the selected region, regardless of where the ride took place.

For further information on the data displayed, refer to the info button right next to each box.

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Región

Comparación de regiones

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Analyst Opinion

The Shared Mobility market in Vietnam has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Vietnam are increasingly looking for convenient and cost-effective transportation options, which has led to a surge in the popularity of shared mobility services. The younger population, in particular, is more inclined towards using shared mobility solutions due to their flexibility and affordability.

Trends in the market: One of the key trends in the Shared Mobility market in Vietnam is the rapid expansion of ride-hailing services. Companies offering ride-hailing services have been investing heavily in the Vietnamese market, leading to fierce competition and innovative service offerings. Additionally, the integration of various modes of transportation, such as bikes and electric scooters, into existing shared mobility platforms is gaining traction among consumers in Vietnam.

Local special circumstances: Vietnam's rapidly growing urban population, coupled with increasing traffic congestion in major cities, has created a favorable environment for the growth of shared mobility services. The government's initiatives to promote sustainable transportation solutions and reduce carbon emissions have also played a crucial role in driving the adoption of shared mobility services in the country.

Underlying macroeconomic factors: The rising disposable income levels in Vietnam have made shared mobility services more accessible to a larger segment of the population. Additionally, the proliferation of smartphones and the widespread availability of mobile internet services have made it easier for consumers to access and use shared mobility platforms. These macroeconomic factors have contributed to the overall growth and expansion of the Shared Mobility market in Vietnam.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of car rentals, ride-hailing, taxi, car-sharing, bike-sharing, e-scooter-sharing, moped-sharing, trains, buses, public transportation, and flights.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.