Monday, April 25, 2011
The Joongang Daily this morning carried an article with the accompanying data (click on the graphic to view a full sized version) on the growth of location-based data and location-based service businesses in Korea. Not surprisingly, the chart shows a rather dramatic increase in the business between 2009 and 2010. This is exactly what we would expect, given that Apple's iPhone was delayed in coming to the South Korean market and did not arrive here until November of 2009. While location-data businesses, which include Apple and Google, collect location data, location-based services businesses use that data for various services such as logistics, transportation, or emergency services. LBS is considered a rising business, and not just in Korea. Research firm Gartner said the market for location-based services - currently worth $2.9 billion - will to rise to $8.3 billion in 2014.