Canadian based Telecommunications company Rogers has pioneered a system which allows their customers' location speed and direction to be tracked in near real-time.
Now research company Juniper research reports that vehicle and tracking revenues could reach Eur 3.3 billion in Western Europe alone by 2012 - that's in five years time.
Juniper is betting on Location Based services to grow exponentially due to concerns associated with Personal security and businesses looking to run more efficiently.
Already there are a number of services on the market that allows mobile phone tracking for example for a minimal fee; but this is set to grow massively by 2012.
According to the report, 21 million phones and 15 million vehicles will be actively tracked by 2012 which could potentially raise privacy concerns over misuse, although phone tracking would only be active if the phone owner goes beyond what Juniper calls a geo-fenced area.
Followus for example allows employees and individual to track their mobile phones on a number of mobile networks.