I believe the Australian share market is home to a number of exciting small-cap tech shares which have the potential to grow significantly in the future.
Two which I think are worth taking a closer look at today are listed below. Here's why I believe they could have a bright future ahead of them:
The 4DS Memory Ltd (ASX: 4DS) share price has been on a tear this week after the developer of resistive random access memory (ReRAM) released a positive update. Architectural changes made to its patented Interface Switching ReRAM improved read access time to such a degree that is now comparable to DRAM. By 2020 it's estimated there will be 20.8 billion devices in the Internet of Things requiring high speed, low cost storage. Management believes its breakthrough could be the key to unlocking this computing power. Whilst it is still early days, 4DS Memory could be worth keeping a close eye on. Earlier this week research firm TMT Analytics reiterated its buy rating and 12 cents price target on the company's shares.
The GetSwift Ltd (ASX: GSW) share price has climbed over 200% since the turn of the year. Despite this impressive gain, I don't believe it is too late to invest in the fledgling delivery management software provider. The popularity of GetSwift's software has been growing strongly this year thanks to its ability to optimise delivery routes, automate the dispatch process, and provide real-time tracking alerts at an affordable rate. One company which took a shine to the software was banking giant Commonwealth Bank of Australia (ASX: CBA). GetSwift recently signed an agreement with the bank to turn every Albert point of sale vendor into a delivery-ready store. Management has conservatively estimated the deal will result in an additional 257.4 million deliveries through its platform over the next five years.
