LBS has been labelled "the next big thing," and has been the subject of aggressive revenue projections by industry insiders, however, it has yet to materialize in a big way, the high-tech market research firm says.
"Slower-than-expected implementation of more accurate location determination technologies (LDTs), consumer privacy concerns, and operators focused on the deployment of other proven mobile data services have hampered LBS in the region," says Bryan Wang, In-Stat analyst. "One factor that is not lacking, however, is consumer interest in LBS."
A recent report by In-Stat found the following:
- In 2004, Asia registered LBS revenue of US$353.0 million, and the market is expected to reach US$771.9 million by 2010.
- A recent In-Stat survey found that 88.5% out of 916 Japanese wireless users, and 99.5% out of 940 South Korea wireless users, are interested in one or more LBS application.
- Japan and South Korea are the most advanced regional markets, with almost all categories of LBS applications available now.
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