Nearmap Ltd (ASX:NEA), is a AUDA$262.22M small-cap, which operates in the software industry based in Australia. Technology has become a vital component of every industry, bringing unprecedented opportunities for growth, along with challenges and competition from traditional and emerging areas. Innovations such as augmented and virtual reality, blockchain, machine learning and autonomous vehicles are paving the way for tech sector growth and branching out into new applications. Tech analysts are forecasting for the entire software tech industry, an extremely elevated growth of 32.30% in the upcoming year , and an enormous growth of 94.94% over the next couple of years. Not surprisingly, this rate is more than double the growth rate of the Australian stock market as a whole. Is the tech industry an attractive sector-play right now? Below, I will examine the sector growth prospects, as well as evaluate whether NEA is lagging or leading its competitors in the industry.
