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”Location based services can become $2-5 bn sector in 3 yrs”

India: Location-based services sector has potential to achieve $2-5 billion size in the next two to three years provided some issues related to application, devices, IP rights and privacy are addressed, industry body Cellular Operators Association of India (COAI) has said.

“As of today location-based services (LBS) is less than half a billion industry but it has potential to grow anywhere between $2-5 billion in the next 2 to 3 years. It can add a good 10-20% of revenue to telecom industry over the period,” COAI Director General Rajan S Mathews said.

He, however, added issues related to application, devices, IP rights and privacy need to be addressed to achieve this kind of turnover for the sector.

Source: Business Standard