A new research report from telecoms analyst Berg Insight expects the total value of the real-time mobile location-based advertising and marketing market to reach €10.7 billion (£8.8 billion) in 2018.

That’s a compound annual growth rate of 54% when compared with last year’s global total of €1.2 billion.

A new research report by Berg Insight predicts that revenue from mobile location-based services in Europe will grow from €735 million last year to €2.3 billion (£1.9 billion) in 2018, which is a compound annual growth rate of 25.8%.

Meanwhile, the North American mobile location-based service market is expected to grow at 16.1% per year from $1.8 billion in 2013 to reach $3.8 billion (£2.3 billion) in 2018.

Google says it’s produced a smartphone with a 5-inch screen, movement sensors and custom Android-based software that can track 3D motion of the device. Data from the phone can then be used to produce a 3D map of the surrounding environment

Potential uses could be for indoor location-based services, virtual reality gaming or simply measuring internal spaces.

Mobile payment and advertising partnership Weve has announced Pouch, a mobile-based ‘loyalty card’ application.

The first company to trial the scheme is the Eat food group.

The Smart UK project is an annual government-supported competition looking for the UK's Most Innovative Mobile Company.

A few days ago, all 20 companies on the competition shortlist gave a short presentation to the Smart UK panel of judges. Afterwards, Mark Bridge spoke to some of the entrants to discover exactly what they had to offer - and how they planned to disrupt the mobile industry.