The study, conducted by independent market analyst Datamonitor, show total investments in the first quarter exceeded $3 billion, with the wireless technology sector receiving a total of $216 million in investment in February alone.
The largest single investment saw satellite telecommunications company Orbocomm receive over $110 million from investors to provide narrow band two-way digital messaging and geo-positioning services.
There were other large investments in offshore IT services providers, with Indian company Hexaware Technologies Ltd Receiving $68 million from Private Equity firm General Atlantic LLC.
The Indian company is now valued at over $450 million, with General Atlantic taking a 15 per cent stake in the company.
Datamonitor used their Technology Finance MarketWatch system to track all mergers, acquisitions and investments made in the sector, following the performance of the 500 biggest vendors of software, hardware and network equipment, as well as consulting and professional services firms.