Location-based services are projected to be worth $4.4 billion in revenue worldwide this year, according to a study by Visiongain. Experts say growth in the space is expected to be strong, but finding a way to monetize location services is a still a hurdle for businesses. "The challenge with location-based marketing is similar to the challenge we see with mobile marketing in general -- precise targeting is possible, but it requires data to be available throughout the organization in a way that was never envisioned when current analytics and decision support systems were deployed," said WDA Chief Operating Officer Brennan Hayden.
Study finds location-based services market will be worth $4.4 billion
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