Location-based services (LBSs) are those services that provide information to wireless device users based on their physical location - supplying a map of the area, say, or telling the user about nearby stores or restaurants. A search for this term on the Internet reveals that pundits have been predicting an LBS revolution for years now, with no immediate explosion in sight. Still, there is some motion on this front, especially in Europe and Asia. These links will give you the skinny on the present and future of this potentially lucrative market.
Source: IBM developerWorks Can geo-location services find the way?
Source: Boxes and Arrows It's the (location-based) applications, stupid!
Source: Wireless Developer Network Cell phone maps for pedestrians
Type: Product information
Source: The Register A phone that finds you
Source: Forbes Locating wireless revenue and value
Source: CyberAtlas Location-based service zone
Source: LBSzone.com Location-based services pump up cell phones, but remain clunky
Source: St. Paul Pioneer Press Location-based services: Finding their place in the market
Source: Wireless Week