Location-based services in Europe to grow at 34% a year

Revenues from mobile location-based services (LBS) in the European market will grow by 34% annually to reach 622 mln euros in 2010, according to Berg Insight. Berg Insight forecasts that navigation will account for 48% of mobile LBS revenues in 2010. Berg Insight estimates that 18 mln mobile users in Europe will subscribe to location based billing plans by 2010.