ABI Research, a global tech market advisory firm, recently published some of its findings from a market research report on vehicle and mobility market.
According to these data, which is collected in the first six months of 2019, Grab’s two current biggest markets are Vietnam and Indonesia, with 73% and 64% market shares in all ride-hailing trips in the two countries, respectively.
Grab’s competitor Go-Jek, is currently holding 35.5% of the market shares in Indonesia while its subsidiary in Vietnam Go-Viet has 10.3% in the country. In Vietnam, Be ranks second with 16% market shares; other ride-hailing apps such as FastGo occupies the remaining 1%, reports Zing.
The market advisory firm also highlights that there is a trend in recent years among ride-hailing apps to go beyond the ride-hailing services to maintain profit.
“Offering on-demand services is one of of the factors driving the success of Grab and GO-JEK in the Asia-Pacific region. These on-demand services include food delivery, payments, parcel delivery, prescription delivery, and more,” said James Hodgeson, the smart mobility principal analyst at ABI Research.
A representative from Go-Viet told Zing that the results from ABI Research report don’t reflect the statistics they have gathered and that Go-Viet receives hundreds of thousands of orders from Go-Food every day. However, no further elaboration was provided to the news source.
Tran Bang Viet, CEO of Dong A Solutions, observed that since Grab has a head-start by being one of the earliest players in the market, local ride-hailing apps are having a difficult time catching up, even if they’re given enough time to do so. Hodgeson, however, remains positive that there is room for two companies to dominate the market in the long run.
