10 Billion: Location Based Services Revenue By 2016

June 10, 2011 9:56 am

We spotted this today:

“Location-based services are expected to bring in $10 billion in revenue by 2016, according to research firm Strategy Analytics. The biggest chunk, just over 50 percent, will come from location-based search advertising.

The firm said the biggest obstacle is consumer privacy concerns about location data, something that has been stoked lately by recent questions about tracking from iPhones and Android devices. But if location services provide enough transparency about how they use and store this information, it should not derail the approaching money train.”

Statistics Source: GigaOm

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