Xero Ltd (ASX: XRO) and WiseTech Global Ltd (ASX: WTC) are two of the most popular ASX tech shares, and for good reason.
But they are not the only technology companies on the Australian share market with strong growth prospects.
I think investors looking beyond the usual large-cap software names have some compelling options. Two ASX tech shares I would consider buying are named in this article.
Image source: Getty Images
Megaport Ltd (ASX: MP1)
Megaport is one ASX tech share I think deserves attention.
The company helps businesses connect to cloud providers, data centres, and network services through its software-defined network. In simple terms, it lets customers turn connectivity on and off, scale capacity, and link different digital environments without relying only on older, fixed network arrangements.
I think that is becoming more valuable as companies spread their workloads across multiple clouds, data centres, and regions.
A business might use Amazon Web Services, Microsoft Azure, Google Cloud, private infrastructure, and specialist providers at the same time. That creates a messy connectivity problem. Megaport's role is to make those connections faster, more flexible, and easier to manage.
The company has also added another chapter to its story through the acquisition of Latitude.sh. That move gives Megaport exposure to compute and storage, not just network connectivity. It also opens the door to more involvement in artificial intelligence (AI) and high-performance workloads, where customers may need fast access to GPUs, CPUs, storage, and reliable network capacity.
I like that because the digital infrastructure market is no longer just about owning the physical data centre. It is also about how customers move data, access compute, and manage workloads across different locations.
Megaport still has execution risk. It needs to prove that the expanded model can produce stronger growth and better returns. But I think the company sits in an important part of the cloud and AI ecosystem that can be easy to overlook.
Catapult Sports Ltd (ASX: CAT)
Catapult Sports is another ASX tech share I would buy.
The company provides performance technology used by elite sporting teams. Its products help teams track athlete workloads, analyse movement, review video, manage training, and make better decisions about performance and preparation.
I think what makes Catapult particularly interesting is that sport is becoming more analytical every year. Coaches are no longer relying only on instinct and experience. They want data that can help them understand fatigue, speed, effort, tactical patterns, injury risk, and player development. The best teams are looking for marginal gains everywhere, and technology is becoming a bigger part of that process.
Catapult is well positioned because its products can become embedded in how teams operate. If a club uses the platform across training, games, coaching, medical staff, and performance analysis, it can become part of the daily workflow. That creates stickiness. It also gives Catapult the chance to sell more solutions to existing customers over time.
I also like the global nature of the opportunity. The business is not limited to one sport or one country. It can serve football codes, basketball, baseball, soccer, rugby, and other professional and college markets.
There are still challenges to watch. Sports teams can be demanding customers, and the company needs to keep innovating to stay ahead. But Catapult has moved beyond being a niche wearable technology idea. I think it is becoming a more complete sports intelligence platform.
Foolish takeaway
Xero and WiseTech may get plenty of attention, but the ASX technology sector has more depth than those two names.
Megaport gives investors exposure to the connectivity layer behind cloud, data centre, and AI workloads, while Catapult gives exposure to the rising use of data and software in professional sport.
If they keep executing successfully, I think they could become much larger businesses over the next decade.
