The Location Based Services (LBS) seem to be the next revolution on small computing handheld devices in terms of location aware advertising, security alerts, news updates, disaster management, geo-fencing, buddy-findings, gaming, criminal investigations, turn-by-turn navigation and so on. In today's scenario there is an explosion of technologies to communicate with mobile, connected devices and sensors. In this paper we are presenting a literature survey of LBS that includes the architecture of the LBS ecosystem, the key market players, and the latest trends in LBS development. Finally, the broad research areas such as location determination techniques, geo-sensor networks, and location based natural queries, location privacy and authorization, geo-social networks, LBS QoS, and Location Based Recommender Systems (LBRS) have been studied and presented briefly. © 2011 Springer-Verlag Berlin Heidelberg.