Location based services (LBS) use global positioning capabilities on phones to provide information to users based on their location. LBS allows users to find nearby points of interest and get personalized weather or play mobile games with local users. For LBS to succeed it needs a large user base that frequently checks in and participates, as well as business involvement. Since the iPhone introduced location awareness, LBS has grown from ideas to popular applications some users pay for. The document forecasts the LBS market reaching $13 billion by 2013 and discusses key players, applications, and strategies to grow the market through advertising and new models.