LONDON, Feb. 24 (UPI) -- Investment in the wireless technology industry is on the rise, and analysts expect to see more companies issuing initial public offerings on the stock market.
A report released Friday by the London firm Visiongain concluded that venture-capital investment in wireless has been strong in recent years, bucking an overall trend.
Last year 152 wireless-related companies received $1.3 billion in venture capital, 24 percent more than in 2004 and 7 percent of all of the venture capital invested in 2005.
"Wireless is where the action is and this is a great time to be a wireless start-up in search of venture funding," said Visiongain analyst Lynne Gregg. "The focus of private equity investors is squarely on the rapidly growing, global wireless market."
Gregg said the coming years will see even more interest in wireless investments, which should lead to a jump in the number of IPOs in companies worldwide.
