Location based services market 2008-2011

Location Based Services (LBS) provide location specific services to users through GPS or wireless network. They provide services such as navigation and mapping of points of interests, weather information, and tracking field force.

"The worldwide LBS market was $1,307.3 million in 2008, and is estimated to reach $3,082.5 million by 2011; thus, growing at a CAGR of 33.1 percent," according to the report "Location based services market" recently published by TechNavio Insights.

In fact, "The LBS subscriber base is expected to reach 300.1 million in 2011 from 43.2 million in 2008; growing at a rate of 90.8 percent," says one of the TechNavio experts.

The need for continuous information and communication is the major driving factor for navigation applications, location based billing, mapping, and social networking. Further, there is an opportunity in the enterprise market for tracking applications which include assets, fleet, and employees. Apart from this, the report also discusses the market size & forecasts, the segmentation by categories & geographies, sales drivers, and market trends.