Berg Insight: Location-based service revenues to reach €2.3B in Europe by 2018

Mobile location-based service (LBS) revenues in Europe are forecast to grow from €735 million in 2013 at a compound annual growth rate (CAGR) of 25.8 per cent to reach €2.3 billion in 2018, according to a new research report by Berg Insight. The North American LBS market is forecasted to grow at a CAGR of 16.1 per cent from $1.8 billion (€1.3 billion) in 2013 to reach $3.8 billion in 2018. The main growth will come from increasing ad revenues in the social networking and local search segments. Berg Insight estimates that about 50 per cent of all mobile subscribers in Europe were frequent users of at least one location-based service at the end of 2013. In North America where adoption of GPS-enabled handsets is still somewhat higher, an estimated 60 per cent of all handset users now access location-based services at least monthly. Release

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