Location based services set to grow

THE MARKET for location-based services (LBS) such as mobile marketing will be worth $3 billion in 2013 due to advancing technology, smartphone penetration and the advent of third-party databases, according to market research firm Frost and Sullivan.

The researcher business has estimated that LBS revenues totaled over $480 million in 2008. In North America wireless carriers have acted as the major channel for consumer LBS sales, leveraging their location infrastructure.

This market trend is driving companies to develop new technologies and leverage existing competencies to meet the needs of emerging and future LBS services.

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