资源描述
20202 2020.8 iResearch I 1./S2b2C 2./3.API 3 2020.8 iResearch I 2019 GMV 1187.4 2019 A 2019 GMV 1187.4 15 2020 1301.3 1.2.3.4 1 2 3 4 55 2020.8 iResearch I5019.8 5605.6 5973.4 6489.1 6896.4 7991.5 8674.3 11.7%6.6%8.6%6.3%15.9%8.5%2013 2014 2015 2016 2017 2018 20192013-2019%2019 8674.3 2018 8.5%6 2020.8 iResearch I 2020.8 iResearch I 2019 6464.3 30.2%1.2.3.2019 2184.5 2884.9 3762.7 4965.2 6464.3 7932.4 9832.1 12031.4 41.3%32.1%30.4%32.0%30.2%22.7%23.9%22.4%2015 2016 2017 2018 2019 2020e 2021e 2022e2015-2022%2184.52884.93762.74965.26464.37932.49832.112031.42015 2016 2017 2018 2019 2020e 2021e 2022e2015-2022 7 2020.8 iResearch I 2019 8.81 8.77 2015 90.1%99.5%2015-2018 CNNIC 2019-2022 6.88 7.31 7.72 8.29 8.81 9.27 9.72 10.18 6.20 7.00 7.50 8.20 8.77 9.23 9.70 10.16 6.1%6.3%5.6%7.4%6.3%5.2%4.9%4.7%11.4%12.9%7.1%9.3%7.0%5.3%5.0%4.8%2015 2016 2017 2018 2019 2020e 2021e 2022e2015-2022%8 2020.8 iResearch I 2020.8 iResearch I 2019 6.6 74.9%9.9 2017-2018 CNNIC 2019-2022 C2C B2C 6.2 7.9 9.9 10.9 13.6 15.9 33.1%26.9%25.2%10.4%24.6%17.0%17.0%20.8%24.1%26.0%28.6%31.5%2017 2018 2019 2020e 2021e 2022e2017-2022%5.3 6.1 6.6 7.2 7.5 8.1 14.3%14.4%8.1%8.5%4.9%7.5%2017 2018 2019 2020e 2021e 2022e2017-2022%9 2020.8 iResearch I 2020.8 iResearch I3301.3 5712.6 9855.9 13951.4 18333.1 23247.1 28327.1 73.0%72.5%41.6%31.4%26.8%21.9%2015 2016 2017 2018 2019 2020e 2021e2015-2021 O2O O2O%O2O KTV 10 6349.4 9011.9 11725.9 14761.6 17538.5 41.9%30.1%25.9%18.8%2015 2016 2017 2018 20192015-2019%10 1 2 3 4 511 2020.8 iResearch I 2020.8 iResearch I 2020 5 APP 36.7 2017 6 2020 6 APP UserTracker 1722.0 1812.0 1938.0 2080.0 5.2%7.0%7.3%2015 2016 2017 20182015-2018%72011.9 18035.8 72958.2 79272.3 104120.5 89361.4 20263.6 98949.6 99621.1 134777.4 2017.6&2020.6 APP 2017.6 2020.612 2020.8 iResearch I=/2013-2018 CNNIC 2019-2022 317.5 394.7 487.4 598.9 733.6 855.7 1011.0 1181.7 24.3%23.5%22.9%22.5%16.6%18.2%16.9%2015 2016 2017 2018 2019 2020e 2021e 2022e2015-2022%13 2020.8 iResearch I 2020.8 iResearch I 2019 1.2.3.4.N=38 2019 5 39.5%42.1%71.1%81.6%MarTechIP 2019 36.5%38.5%55.8%73.1%2019 14 2020.8 iResearch I 2020.8 iResearch I39.3 40.9 54.6 98.9 106.0 151.9 295.0 439.7 2020 6 系列1 CNNIC 45 UserTracker 30 48 84 65 56 56 45 37 10 10-14 15-19 20-29 30-39 40-49 50-59 60 2019 12 APP15 2020.8 iResearch I:,2018 6 2018 3 2019 4 2015 8 CPC APP CPS CPC 2015 9 2018 8 2018 3+2018 7 2019 12 16 2020.8 iResearch I 17 2020.8 iResearch I9.8%11.2%14.5%15.3%15.8%17.9%18.4%20.2%29.9%31.1%36.0%37.0%42.8%/KOL 2019 C6.N=803 2019 8 iClick18 2020.8 iResearch I 19 1 2 3 4 520 2020.8 iResearch I 1.1.0 2.2016 2.0 2005-2010 2011-2013 2014-2016 2017 55 800 NICE B2B2C 800 1.0 2005-2016 2.0 2016 2005-2016 2016 21 2020.8 iResearch I 12 C B 360 UGC 9.9 22 2020.8 iResearch I/23 2020.8 iResearch I/UGCPGC BGC MGC 24 2020.8 iResearch I3912333855071492171341745392591565864683971723974314 92053 51 2015 2016 2017 2018 20192015-2019 A/B/C/D/E/=/25 2020.8 iResearch I/+B/26 2020.8 iResearch I+PGC+UGC+27 2020.8 iResearch I/1%-30%3C CPC CPM CPA CPT28 2020.8 iResearch I 2019 GMV 1187.4 2014-2015 GMV 1.2.(1)./(2)./(3).547.0 722.0 908.5 1054.2 1187.4 1301.3 1430.4 32.0%25.8%16.0%12.6%9.6%9.9%2015 2016 2017 2018 2019 2020e 2021e2015-2021 GMV GMV%29 2020.8 iResearch I38.3 47.1 47.5 50.9 55.3 65.9 75.2 22.8%0.9%7.1%8.8%19.0%14.1%8.1%7.5%6.0%5.6%5.4%5.9%6.1%2015 2016 2017 2018 2019 2020e 2021e2015-2021%2019 55.3 8.8%2020 65.9 2015-2019 1.2.(1)./(2)./(3).(4).=/GMV 30 2020.8 iResearch IAPP 2019 1-2020 6 App 1 APP UserTracker 2018 7-2020 6 APP X 1000 1000 X 100 X 100 31 2020.8 iResearch IAPP TOP10 app App 1 APP UserTracker 201807 201809 201811 201901 201903 201905 201907 201909 201911 202001 202003 202005mUserTracker-2018 7-2020 6 TOP10-APP 32 2020.8 iResearch IAPP TOP10 2019 Q1 App APP UserTracker 201807 201809 201811 201901 201903 201905 201907 201909 201911 202001 202003 202005mUserTracker-2018 7-2020 6 TOP10-APP 33 1 2 3 4 534 2020.8 iResearch I 2007 KOL MCN 400 50000+30/35 2020.8 iResearch I 2010/UGC 362020.8 iResearch IShopBack 2014 ShopBack ShopBack ShopBack C 7500 2500 Expedia Shopee Zalora 1900 3 1900+ShopBack 72 ShopBack ShopBack ShopBack 2500+372020.8 iResearch I 2020.8 iResearch IEbates Ebates Rekuten Rewards 1998 2014 1200 2015 2019 Ebates 408.1 965.0 24.0%Ebates Ebates Membership Rewards MR Ebates Ebates Rekuten 40808.0 49331.0 71661.0 84455.0 96499.0 20.9%45.3%17.9%14.3%2015 2016 2017 2018 20192015-2019 Ebates Revenue Millions of Yen)%Ebates MR 1 1 MR MR 1.6c/p 1 1 Rakuten 3%offer Ebates$10$2538 1 2 3 4 539 2020.8 iResearch I C B MCN MCN APP To C To B 40 2020.8 iResearch I 41 2020.8 iResearch I/APP Hadoop 42 Keep Learning 400-026-2099 43
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