Juniper Research Forecasts Location Services Market to Hit $43.3B by 2019

Juniper Research has released a forecast report that projects the location-based services market to grow to a total revenue of $43.3 billion by 2019 from the approximately $12.2 billion recorded in 2014.

Context aware ad-supported apps will drive more than two-thirds of the mobile context and location services market’s revenues by 2019, Juniper Research said Thursday.

Local search apps will trail social apps with respect to ad-spend, according to the forecast.

Juniper Research also forecasts the in-app purchase model to climb three times annually more than the pay-to-download model, especially in navigation, social and tracking apps.

“Even in the case of navigation apps where paid-for apps have remained popular, large brands such as Garmin are beginning to emphasise this revenue model,” said Steffen Sorrell, author of the report.