Leading software and IT services companies listed on ASX Australia 2022

WiseTech Global Limited was the leading software and IT services company listed on the Australian Securities Exchange (ASX) in Australia as of November 2022, with a market cap of around 17 billion Australian dollars. Headquartered in Alexandria, Australia, WiseTech Global is a developer of cloud-based software solutions for the international logistics software industry.

Digital payments on the rise

The digital payments market in Australia has expanded rapidly in recent years. The buy now, pay later segment is one of the fastest-growing in Australia. Younger consumers, such as those in Gen Z, are the most avid users of buy now pay later services. Afterpay is one of the most well-known providers of such services in the country. Afterpay has over three million active customers in Australia and New Zealand and is growing each year.

From Xero to hero

Also high in the ranks on the ASX is Xero Limited. The New Zealand-founded company provides a cloud-based accounting software platform for small and medium-sized enterprises. Its success on the ASX can be supported by the fact that most Australian businesses that use paid cloud computing services use them for finance or accounting purposes. The cloud market in Australia is forecast to continue growing, particularly the software as a service (SaaS) segment.