The rapid evolution of mobile phones, both on a hardware and a software level, combined with a surge in application storefront releases, deployments of higher-capacity network infrastructure and recent developments in positioning technologies could drive revenues from mobile location-based services to more than $12.7 billion by 2014, according to a new report published by Juniper Research.

This should sound like music in the ears of juggernauts like Google, Facebook and Apple, as well as FoursquareGowallaaka-akiLooptRummble and a couple of hundred others playing this extremely crowded field.