According to a report published by Gartner in 2008, the Location Based Service industry or the Location Based Technology industry as I call it will be worth $8 Billion by 2011. How? According to Gartner’s research:

- in 2007 there were approx. 16 million subscribers to location based services worldwide

- they expected that number to grow to 43 million by 2008 and the revenue to rise from $485 million to $1,307 million in 2008

- research also expects the number of subscribers to reach 300 million by 2011 and forecasting revenues to be around $8 billion

phew!

This is clearly as I said before a new market waiting to explode. It will be interesting what comes of it and if we witness the birth of another Google or Microsoft in this arena.

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