INVESTOR UPDATE JUNE 2020, page-72

June 15, 2020 5:33pm



Nearmap Ltd (ASX: NEA)

Another ASX growth share to consider buying is Nearmap. It is an aerial imagery technology and location data company with operations in the ANZ and North American markets. These two regions currently provide Nearmap with a total addressable market (TAM) of $2.9 billion per year. This is materially more than the annualised contract value (ACV) of $103 million to $107 million it expects to achieve in FY 2020. Given the fragmented nature of the market and its high quality offering, I believe Nearmap can capture a growing slice of this market over the next decade. It also has the option to increase its TAM by expanding into other territories in the future.