At the small end of the Australian share market, there are a number of companies with the potential to grow materially in the future.
Three that investors may want to get better acquainted with are listed below. Here's what you need to know about them:
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Alcidion Group Ltd (ASX: ALC)
The first small cap ASX share to watch is this growing informatics solutions company. It is the company behind healthcare software products Miya, Patientrack and Smartpage. Patientrack, for example, helps clinicians know a patient's status in real-time. It uses predictive algorithms to support time-critical care, allowing doctors to intervene and prevent patient deterioration faster than ever before. Alcidion appears well-placed for growth in the future thanks to the shift to a paperless environment in the healthcare sector and a number of favourable industry tailwinds.
BlueBet Holdings Ltd (ASX: BBT)
Another small cap ASX share to watch is BlueBet. It is an online sports betting company that allows users to bet on all Australian and international racing and sports. BlueBet has been growing very strongly thanks to the increasing popularity of mobile sports betting. The good news is that management is confident that this trend can continue. It also believes it is well positioned to substantially grow its current ~1.2% share of the market in Australia. But it isn't settling for that. The company is currently in the process of expanding into the massive US market.
Whispir Ltd (ASX: WSP)
A final small cap ASX share to watch is Whispir. It is a software-as-a-service company that provides a communications workflow platform automating interactions between organisations and people. The company notes that its offering enables organisations to improve their communications through automated workflows to ensure stakeholders receive accurate, timely, useful and actionable insights. Demand has been growing strongly, leading to stellar recurring revenue growth over the last 18 months.
