Worldwide revenues from location-based services are expected to break the US$4 billion mark this year, according to ABI Research.
A combination of map navigation apps in mobile devices and other application segments is sustaining a healthy location-based services market, observed ABI Research analysts.
Of the emerging areas, the GPS-enabled health and fitness market continues to grow strongly with application downloads expected to break the US$100 million mark in 2012.
Revenues currently remain low as companies move to a freemium model to build presence, but it is a sector that has huge potential, with fitness device partnerships expected in 2013.
ABI Research also forecasts strong revenue growth in the enterprise sector, which is undergoing a second wave of growth, moving beyond fleet management.
"The advertising side of the LBS business remains a relatively small but growing part of overall revenues in 2012. The 'search and discovery' vertical is gathering significant interest with approximately 70 percent of Yelp's 2011 revenue coming from local advertising, 78 million monthly active users, and partnerships with Apple and Microsoft," said ABI Research senior analyst Patrick Connolly.
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