If you're a growth investor then you might want to take a look at the ASX shares listed below.
I believe all three are well-placed to grow at a strong rate over the next decade. Here's why:
Aristocrat Leisure Limited (ASX: ALL)
The first ASX growth share to consider buying is this gaming technology company. Although it looks likely to experience a short term reduction in demand for its poker machines due to the pandemic, I expect it to rebound once the pandemic passes and casinos reopen as normal. In the meantime, the company's social and mobile gaming apps continue to perform strongly during the crisis. If it can retain these users when casinos reopen and business returns to normal, I feel Aristocrat Leisure's growth could accelerate over the coming years.
Nearmap Ltd (ASX: NEA)
Another growth share to consider buying is Nearmap. I think the leading aerial imagery technology and location data company can grow materially over the next decade. This is due to the large and growing global market for location intelligence data sets derived from aerial imagery and its leading position within it. Management expects the global aerial imagery market to be worth US$10.1 billion in 2020. Pleasingly for Nearmap, this market is highly fragmented, which I feel puts Nearmap in a great position to capture a growing slice of it in the future.
Zip Co Ltd (ASX: Z1P)
A final growth share to consider buying is Zip Co. It is one of the ANZ region's leading buy now pay later providers but also has operations in South Africa and the UK. And should the acquisition of QuadPay complete successfully, it will soon be expanding into the massive United States. Management notes that this market is worth $5 trillion a year. If the company can make a success of this expansion, it could be destined for further explosive growth over the coming years.
