A report from Juniper Research predicted that revenues in the MLBS sector will grow to reach $12.7 billion over the next four years, driven by the proliferation of smartphones and developments in hybrid positioning technologies.
The research also claimed that easier consumer access to mobile applications and the deployment of high-capacity network infrastructure will support the growth of the market.
Dr Windsor Holden, the study's co-author, commented: 'Location-based applications are extremely interesting for brands and retailers in that they allow those companies to direct consumers to outlets in their vicinity while simultaneously providing information about the products on offer.'
He also said that firms will use MLBS technologies alongside mobile coupons and vouchers to increase customer take-up of the services.
Earlier this week, industry researcher IDC revealed that the smartphone market reached record levels at the end of last year, growing by 39 per cent in the fourth quarter of 2009.
The research also claimed that easier consumer access to mobile applications and the deployment of high-capacity network infrastructure will support the growth of the market.
Dr Windsor Holden, the study's co-author, commented: 'Location-based applications are extremely interesting for brands and retailers in that they allow those companies to direct consumers to outlets in their vicinity while simultaneously providing information about the products on offer.'
He also said that firms will use MLBS technologies alongside mobile coupons and vouchers to increase customer take-up of the services.
Earlier this week, industry researcher IDC revealed that the smartphone market reached record levels at the end of last year, growing by 39 per cent in the fourth quarter of 2009.
