iClick Interactive Asia Group Ltd. (NASDAQ: ICLK) Set to Profit as Online Marketing Rapidly Surges in China
With China’s population now numbering 1.4 billion and internet use increasing at a tremendous rate, the future of SaaS Enterprise Solutions and online marketing has never looked brighter.
Despite causing a global economic turmoil and negatively affecting some sectors, such as hospitality and travel, the COVID-19 pandemic has led to a sharp increase in demand for certain industries, like online gaming and ecommerce. Quarantines and lockdowns are driving huge spikes in online traffic in China, and digital marketing — already on the rise — may be more effective than ever. iClick Interactive Asia Group (NASDAQ: ICLK) is among the leading providers of independent online marketing and enterprise SaaS solutions in China, supplying integrated tools for analyzing and improving advertising and marketing performance. One of the biggest players in online marketing in the region is Tencent Holdings Ltd. (OTC: TCEHY) whose multipurpose messaging, social media and payments application, WeChat, has reached a monthly active user base of over 1.1 billion. iClick has been a Platinum Service Partner of Tencent Social Ads, and has effectively captured the high growth of WeChat. Signifying tremendous market growth and opportunity, foreign companies have recently been targeting the East Asian market as well. American-based The Trade Desk Inc. (NASDAQ: TTD) is moving digital-marketing services into east Asia, starting with a partnership in Indonesia. Cloud-based software company Salesforce.com Inc. (NYSE: CRM) recently improved the partnership program it uses to provide marketing and other digital tools, and HubSpot Inc. (NYSE: HUBS) has been recognized as a leader in marketing automation, thanks to its suite of online services.
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