A report from Juniper Research claimed that the worldwide industry is likely to be worth more than $12 billion (£8 billion) by 2014, driven by the growth of one-to-one marketing based on smartphones.
In addition, the expansion of mobile web services, the increased use of SMS marketing by companies and the availability of high-speed mobile broadband networks will contribute to the success of the market.
Howard Wilcox, the co-author of the research, commented: 'Retailers have recognised that, even ahead of their wallets, people will usually make sure they do not leave home without their mobile device.'
Last month, Juniper Research predicted that the market for mobile location-based services is predicted to grow to reach $12.7 billion during the next four years, fuelled by the proliferation of smartphones and developments in hybrid positioning technologies.
In addition, the expansion of mobile web services, the increased use of SMS marketing by companies and the availability of high-speed mobile broadband networks will contribute to the success of the market.
Howard Wilcox, the co-author of the research, commented: 'Retailers have recognised that, even ahead of their wallets, people will usually make sure they do not leave home without their mobile device.'
Last month, Juniper Research predicted that the market for mobile location-based services is predicted to grow to reach $12.7 billion during the next four years, fuelled by the proliferation of smartphones and developments in hybrid positioning technologies.
