Tech Sector Splurges $40 Billion On The Internet Of Things Since 2011
The global tech sector spent over $US31 billion ($A40 billion) on the Internet Of Things (IoT) related investments and acquisitions between 2011 and 2015 according to new research from Ovum.
According to Ovum’s Francesco Radicati, senior analyst, digital service, “Using data from Ovum’s IoT Investments Tracker, Ovum tracked 76 deals across eights sectors, including IT services, wearables and connected car. Intel led the charge with its $US16.7 billion acquisition of chipset maker Altera, while Verizon, Google and Qualcomm each made at least one acquisition over $US$1 billion during the reporting period.”
The biggest single investment last year was the US$115 million Series D round for ultra-narrowband network provider Sigfox by a group including venture funds from Telefonica, NTT Docomo and SK Telecom.
The number of acquisitions grew from four deals in 2011 to 19 in 2015, while the number of investments peaked in 2013, as companies such as Fitbit attracted more interest from the tech and telco sectors.
“While telcos are growing more interested in IoT, the data show that vendors like Intel and Qualcomm, and tech giants like Google, are still putting the most money into the sector,” said Radicati, the author of the report. “Thanks to their corporate venture funds and their proximity to key innovation ecosystems, these firms have the expertise to identify up-and-coming IoT startups, as well as the funds needed to invest and acquire such companies.
“However, telcos are becoming more active themselves, by setting up their own venture funds and startup accelerators and by making acquisitions to support their existing strategies. Notable examples are Verizon’s 2012 purchase of Hughes Telematics and Vodafone’s 2015 acquisition of connected car service provider Cobra,” concludes Radicati.
This article originally appeared on B&T’s sister business site www.which-50.com
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