New Delhi: In a bid to speed up the deployment of wireless network, the Intel Corporation has on October 23 announced its plans to invest $ 150 million in companies developing the Wi-Fi technology, according to a company press release.

Disclosing Intel's plans to the transportation industry officials at the Wireless Airport Association Conference and Exposition in New Delhi, Intel executive vice president Les Vadasz said that Wi-Fi use is growing at an explosive rate.

Giving details on the emerging technology Vadasz said, "Estimates show that it could grow to 30 million laptops equipped with Wi-Fi capability in three years."

Wi-Fi technology is an emerging and increasingly popular technology that provides high-speed wireless Internet access in many locations around the world like airports, cafes, corporate offices, universities, factories and homes.

"It will fundamentally change the way people use technology and enable high-speed Internet access anytime, anywhere for business and consumer use," Vadasz, who is also the president of Intel Capital, said.

Elaborating on company's investment with regard to Wi-Fi technology, Intel vice president and chief technology officer Pat Gelsinger said, "Wi-Fi is one of the ripest areas for innovation in the industry."

"Intel will continue to play a key role in its development through investments, research, industry programs and products," he added.

The Intel Communications Fund, managed by Intel Capital, is investing in companies developing hardware and software products and services that works for ensuring secure wireless network connections. The Fund has so far invested nearly $ 25 million in more than 10 companies in this space.