2 exciting ASX growth shares that could beat the market in the 2020s

This is why I think Bravura Solutions Ltd (ASX:BVS) and this ASX growth share could be market beaters over the next decade…

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If you're interested in adding some growth shares to your portfolio in August, then you might want to take a look at the ones listed below.

I believe they have the potential to grow materially in the future. Here's why I would buy them:

Bravura Solutions Ltd (ASX: BVS)

The first growth share to consider buying is Bravura Solutions. It is a leading financial technology company for the wealth management and funds administration industries. The key product in its portfolio is the Sonata platform, which connects and engages with clients via computers, tablets, or smartphones.

Due to the quality of its platform and its large addressable market, I believe Sonata can underpin strong earnings growth over the next decade. This should be supported by a couple of acquisitions that have opened Bravura up to new and lucrative markets. All in all, I believe the Bravura share price is well-positioned to be a market beater over the 2020s. This could make it well worth buying today.

Nearmap Ltd (ASX: NEA)

Another ASX growth share to consider buying in August is Nearmap. It is a leading aerial imagery technology and location data company which currently operates in both the ANZ and North American regions. At present, these two markets provide the company with a total addressable market (TAM) of $2.9 billion per year. This compares to the annualised contract value (ACV) of $103 million to $107 million that Nearmap expects to record in FY 2020.

Given the quality of its software and how fragmented these markets are, I believe Nearmap is well-placed to grow its share of these markets significantly in the future. In addition to this, the company could increase its TAM in the future by expanding its footprint into other territories. Overall, I think this positions the Nearmap share price to also be a market beater over the long term.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Nearmap Ltd. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd. The Motley Fool Australia has recommended Nearmap Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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