Location Based Services – Opportunities
The conversion rate of location relevant ads make the case for location aware applications compelling. Location relevant ads increase the digital mobile advertising average click-through rate from 0.5-0.8% to 1.5-2% and upwards.
Response rates for messaging-based Geo-targeting in the UK and US range from 11-35%, increasing up to 65% when delivering a promotion within close proximity to the location. This opens up a Billion Dollar Market for Location-Aware Applications.
Global Location-Based Advertising Market and Location-based services are predicted to reach $6.2 Billion and $10.3 billion respectively by 2015.
Navigation applications are the largest location based services revenue generators. 130 million people worldwide using navigation apps or services in 2011, and that number is predicted to grow to 340 million by 2016.
This opens a need in the market for Location-aware Applications that can deliver ads that are relevant to the users. GeoLoqal helps application developers earn mobile app revenues through its scalable and elastic mobile development platform.