Top 5 Promising Technology Companies in Australia. Why Investors are Keeping a Close Eye on Aussie Tech Companies?

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Australia is becoming a hotspot for ground-breaking innovations in the rapidly changing world of technology and innovation, and investors around the globe are taking note. It is a country with excellent economic conditions, affordability, rising income, and low public debt.

When the entire world faced pandemic downfall, Australia saw a positive move towards digital solutions. There was an increased focus on fintech, artificial intelligence, and much more.

Australian tech businesses are making waves in the global tech scene with their innovative and cutting-edge solutions. It is growing at an average of 16% per annum and is expected to contribute A$250 billion to its economy by 2030.

The top five promising Australian tech businesses that have drawn the interest of astute investors are listed in this article for you to research and start investing.

1. Computershare

ComputerShare (ASX: CPU) was among the first tech startups in Melbourne. It started its operations in 1978, and since then, it has expanded to 22 countries with over 25,000 clients and 14,000 employees.

ComputerShare offers trust services at a corporate level, employee equity plans, and share registers to enterprises. Of all its business segments, its most significant source of income is still share maintenance. To further increase its global footprint, it purchased Wells Fargo Corporate Trust in November 2021. In September of last year (2023), Computershare declared acquiring Solium Capital UK's European public equity share business, called by Morgan Stanley as Shareworks.

Market Cap - AUD 14.96 billion with a share price of AUD 25.01 on 11th January 2024.

2. Megaport Ltd.

Megaport (ASX: MP1) offers cloud infrastructure services to its clients and is said to be one of the best. The company claims to provide this service to more than 2640 clients securely and conveniently. It has more than 365 service providers and 120 special data center operators to provide these services.

Market Cap - AUD 1.43 billion with a share price of AUD 8.99 as of 11th Jan 2024

3. Altium

Altium (ASX: ALU) is an American-Australian multinational PCB design software and tools company founded in 1985. It develops software used in designing electronic products, such as printed circuit boards. Its products are used in the aerospace, automotive, telecommunications, and defense industries and are designed to operate within a Microsoft Windows environment. Altium is growing at a very fast speed, and it claims to add 6000 new clients annually.

Market Cap - AUD 6.08 billion with a share price of AUD 46.06 as of 11th Jan 2024

4. WiseTech Global Limited

WiseTech Global Limited (ASX: WTC) is into designing, selling, and implementation of different software solutions. WiseTech provides its services to the logistics industry across America, Asia Pacific, the Middle East, Europe, and Africa. They are experts in combining logistics and technology to build a borderless and modeless global platform. They operate on a cloud-based platform to enhance the world's supply chain operations.

Market Cap - AUD 24.21 billion with a share price of AUD 72.63 as of 11th Jan 2024

5. NEXTDC

NEXTDC (ASX: NXT) is an Australian data center company with 12 data centers across Australia. It uses energy-efficient methods and offers cloud, data, and colocation services to over 1800 customers. Some top names are its clients, such as Microsoft Azure, Google Cloud, Amazon’s Web Services, and Alibaba. The company has been recognized for its global industry leadership in customer experience, data center engineering, and energy efficiency.

Market Cap - AUD 7.15 billion with a share price of AUD 13.89 as of 11th Jan 2024

These top five Australian tech companies are setting the standard for this ground-breaking path toward a technologically transformational future. Australia's tech scene is a major player in innovation on a worldwide scale, not simply a regional one, as investors closely monitor their advancements. Investors are drawn to these companies because of their distinct strengths, strategic vision, and dedication to pushing the envelope.