It’s been a long time coming, but the era of location-based mobile apps may finally have arrived. At least for advertisers. Location-based mobile apps and services have really taken flight over the past year, due in part to the expansion of the smart phone market and its permeation through our consumer market. Though well-integrated smart phone apps have done well in Asia for years, its the global reach of the location-based app industry that is helping to drive profits expectations in coming years.
TechCrunch reports that a Juniper study suggests location-based mobile apps and services could rake in over $12 billion by 2014. That’s something really exciting for advertisers, marketers, mobile app developers, publishers and platform providers, as it means those consumers out there will be more readily monetized in the next few years. It suggests the changing face of advertising as well, seeing as the push towards convenience and direct consumer interactions is the wave of the future.
It’s something many mobile app publishers and advertisers have been hoping for for some time now, with Juniper’s study showing more promise than ever for the growing industry. And at this point, things seem unstoppable. Mobile apps continue to gain market share, and they lend an additional stream of revenue for all parties involved. Apple is a leader in the standards being created around the mobile app industry, as it forces other related industries such as music, television and film to change their distribution methods.
Yet that’s the beauty of location-based products. They enable the distribution shift to occur, generally for the better. At least, that’s what consumers will be most concerend about. As we’re seeing, particularly in 2010,is an ongoing trend towards incorporating GPS location-awareness into a plethora of devices.
Toys, cameras and navigation devices are just some of the objects that are being used as portals for location-based services, increasing the usability and connectivity of the devices themselves. This will only add to the market’s ability to monetize the consumer use of location-based services, as the option becomes more standard in the next few years.
Ultimately, the usefulness around location-based apps and services wil boil down to its consumer usage. As with social networking, the concern around consumer safety and privacy will become of increasing importance, though this will balance out to a certain degree when it’s all said and done. Finding new ways of using GPS and providing location-based apps and services to the masses will be a primary goal for many industries in the near term.



