If you're a fan of both small caps and tech shares then you're in luck. Because right now there are a few trading on the ASX market that I think have a lot of potential.
Two which could be worth keeping a close eye on are listed below. Here's why they are highly rated:
Audinate Group Limited (ASX: AD8)
The first small cap tech share to watch is Audinate. It is a digital audio-visual networking technologies provider best known for its innovative Dante audio over IP networking solution.
Dante is used widely across the professional live sound, commercial installation, and recording industries globally. Audinate recently revealed that it has reached an impressive milestone of more than 3,000 different products now incorporating Dante for audio-over-IP connectivity.
It advised that research from RH Consulting shows that 3,034 Dante-enabled devices are available from 361 different manufacturers. Furthermore, the research shows that Dante is dominating the market and is the protocol of choice in more than 91% of the networked audio products currently available. This bodes well for its future growth in a niche but lucrative market.
Dubber Corp Ltd (ASX: DUB)
Another small cap tech share to watch is Dubber. It is a software company that provides businesses with a scalable call recording service. This service has been adopted as core network infrastructure by multiple global leading telecommunications carriers in North America, Europe and the Asia Pacific.
The company's cloud-based technology allows businesses to record, manage, and analyse their phone calls and communications. They can even use artificial intelligence to analyse the emotions and stress levels of a caller.
Demand for its offering has been growing strongly over the last couple of years, leading to a significant increase in active customers and revenue. This was evident in its recent third quarter update. That update revealed that Dubber's annualised recurring revenue (ARR) increased 20% over the three months to $34 million. This was also a 158% increase over the prior corresponding period.
