Technology shares can be volatile, but the right businesses can also have enormous room to grow.
Each of the three ASX tech shares below has a clear path to becoming much larger over time.
Here is why I think they are worth a closer look.
Focus businessman using phone, leaning on electric vehicle, holding coffee with blurred city residential condo buildings in background as progressive lifestyle by renewable and sustainable EV car. 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
Life360 Inc (ASX: 360)
Life360 is one of the ASX tech shares I like because its growth story is still playing out on a global scale.
The company operates a family location and safety platform used by over 100 million people around the world. Its large user base gives Life360 an attractive foundation from which to expand subscriptions and introduce additional services.
International growth is a particularly important opportunity, in my view. Life360 already has a substantial number of users outside the United States, yet many of those markets remain relatively under-monetised compared with its more established American business.
I think that creates the potential for revenue to grow even without relying entirely on user numbers continuing to rise at the same pace. There are also opportunities around advertising and other services connected to the platform.
Catapult Sports Ltd (ASX: CAT)
Another ASX tech share I like is Catapult Sports. It gives investors exposure to a part of the technology market that is underrepresented on the ASX.
The company provides performance technology and software used by professional sporting organisations across the globe. Its products help teams analyse areas such as athlete performance, video and tactical data.
Catapult already has a lot of customers, including many of the biggest sports clubs in the world. But what I like most is the company's opportunity to expand its relationship with them.
A team that starts with one product can potentially adopt additional solutions over time, increasing the amount of recurring revenue that Catapult generates from the same organisation.
I think that if Catapult continues winning new customers while selling more products to existing ones, recurring revenue and earnings could grow substantially over the long term.
Xero Ltd (ASX: XRO)
Xero is already a large business, but I still think it has considerable growth potential.
Its cloud accounting platform is used by small businesses and accountants across several major markets.
I think one of the strengths of Xero's business model is that accounting software can become very sticky. Once customers have their financial information, invoices, payroll and other processes running through a platform, switching can become increasingly inconvenient.
That can support strong customer retention and recurring revenue while giving Xero opportunities to increase the amount each subscriber spends.
The small business accounting market is enormous, and Xero still has room to increase its presence across markets such as the United States and United Kingdom.
For me, that combination of recurring revenue, customer retention and a large international market makes Xero an attractive long-term growth story.
Foolish takeaway
Strong growth does not have to come from the same place.
Life360 has a huge consumer audience to monetise, Catapult Sports can deepen its relationships across professional sport, and Xero has a large global market for cloud accounting software.
All three still have meaningful opportunities ahead of them, which is why I think they could be worth considering for investors looking for long-term ASX technology growth.
