Although the U.S. share market is home to many of the biggest tech companies in the world, the Australian share market is certainly no slouch.
I believe the ASX has a great number of listed tech companies with enormous potential on its boards.
Three of my favourites are listed below. Here's why I think investors should consider them today:
Altium Limited (ASX: ALU)
Thanks to the Internet of Things I believe Altium is perfectly positioned to deliver above-average earnings growth for at least the next decade. According to research by Cisco, by 2030 there will be an estimated 500 billion devices and objects connected to the internet. As the majority of these devices will need a printed circuit board (PCB) inside them, I expect demand for Altium's award-winning PCB design software will go through the roof.
GetSwift Ltd (ASX: GSW)
This delivery management software provider aims to streamline a company's logistics through its innovative platform by optimising delivery routes, automating the dispatch process, and providing real-time tracking alerts. During the last quarter the company processed 729,626 deliveries through its platform, an increase of 46% on the prior quarter. I expect this to grow substantially in the next quarter due to its expansion into other verticals, countries, and cities.
XERO FPO NZX (ASX: XRO)
Although earlier this year the cloud-based accounting software provider announced that it had surpassed one million subscribers, the majority of these subscribers are from the Australia and New Zealand market. I believe this highlights the significant opportunity the company has in the massive North American and European markets. This could make it a great buy and hold investment option.
