Global Direct Carrier Billing Platform Market is Expected to Grow at a CAGR of 9.34% from 2020 to 2030; Quince Market Insights
Major industry players functional in the global direct carrier billing platform market are: Comviva Technologies Ltd., Amdocs Ltd., Bango Plc, Boku Inc., Centili Ltd., Digital Turbine Inc., DOCOMO Digital Ltd., Fortumo OU, and Oracle Corp., Comviva Technologies Ltd.
Pune, India, Jan. 18, 2022 (GLOBE NEWSWIRE) -- The global direct carrier billing platform market is estimated to be worth of USD 32.23 Billion in 2021 with a CAGR of 9.34% during the forecast period, as per a detailed market study by Quince Market Insights.
Direct carrier billing (DCB), is also known as direct operator billing, is an online mobile payment system that allows customers to pay for purchases with their mobile phone carrier bills. All feature phones and smartphones are compatible with these payment methods. To confirm the payments, all that is required is a handset with a SIM card. Consumers can use this technology to purchase products and services from online stores that accept it. Direct carrier billing is widely used to purchase digital material on any platform.
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There are several types of direct carrier billing such as limited DCB, pure DCB, MSISDN forwarding, and others. Some of the key drivers of direct carrier billing's significant industry expansion are the rise of digital content platforms, as well as more transparency and user satisfaction. Furthermore, the demand for direct carrier billing services is being influenced by increased digitization and smartphone user penetration.
In addition, the delayed adoption of credit cards in emerging markets is projected to drive demand for direct carrier billing solutions. Smartphone users can purchase digital content from these service providers and pay for subscriptions through the same channels as their phone bills, which is aiding the direct carrier billing market's growth.
Security and privacy concerns are one of the major roadblocks to the expansion of the direct carrier billing sector. Security worries concerning online payment methods are having a significant impact on the adoption of direct carrier billing markets, as cybercrime appears to be on the rise. The use of such direct carrier billing platforms provides for authentication by securing bank account and personal information; any loss of this information could have serious consequences for end customers. Data hacking, fraud, and other serious crimes have been on the rise as a result of systems that aren't well-secured enough to withstand such attacks.
Moreover, accessing such sensitive information has become easier as a result of technological advancements and their inability to give more effective security solutions. Such difficulties are inhibiting the growth of the direct carrier billing market by causing a lesser adoption of online payment options before considerable risks and financial losses.
Impact of COVID-19 on Global Direct Carrier Billing Platform Market
The direct carrier billing (DCB) industry has been harmed by the emergence of the COVID 19 outbreak in Wuhan, China. The virus spread over the world at incredible pace. As a result, the pandemic's presence has wreaked havoc on all enterprises and economies. Apps like google meet, teams, and zoom, as well as the widespread use of digital wallets and lockers for payment, have witnessed a huge surge in demand for online business. Furthermore, the demand for internet streaming of series and movies as entertainment and a way to pass the time during the lockdown has opened up a slew of new business opportunities.
Global Direct Carrier Billing Platform Market, by component
Based on components, the market is segmented into hardware, software, and services. Among these segments, hardware captures the largest market share in global direct carrier billing platform market in 2021 and is anticipated to remain largest till the forecast period. The factors attributed to the growth of segment include component and module manufacturers continue to invest in research & development activities while also investigating chipsets for specific telecom applications. In addition, as a result of technological breakthroughs in 5G modules, carriers are looking at a number of other enhancements, such as hardware device upgrades that reduce device size and make interaction with other modules easier.
Global Direct Carrier Billing Platform Market, by Platform
Based on, platform, the market is segmented into android, iOS, and others. Among these segments, android captures the largest market share in global direct carrier billing platform market in 2021 and is anticipated to remain largest till the forecast period. As, the developing world is a big market for direct carrier billing platforms, and the adoption of Android-based mobile apps for gaming, entertainment, finance, sports, and other things has exploded. Platform providers are on track to bring millions of unbanked persons into the carrier billing system with the help of product innovations, collaborations, and improved capabilities in direct carrier billing platforms. Hence, growing technological advancement around the globe is propelling the android segment to expand globally.
Global Direct Carrier Billing Platform Market, by End user
Based on end users, it is divided into application & game, video & audio, and others. Among these segments, application & game captures the largest market share in global direct carrier billing platform market in 2021 and is anticipated to remain largest till the forecast period. Since platform companies are expanding their collaborations with various digital content providers, optimising their businesses for app purchases to increase in-app payment revenues for app developers, and creating a large market for apps, in-app purchases, and games, this segment is expected to maintain its leadership position throughout the direct carrier billing platform market.
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Global Direct Carrier Billing Platform Market, by Region
Based on region, the market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Among these segments, North America and Europe captures the largest market share in global direct carrier billing platform market in 2021 and is anticipated to remain largest till the forecast period.
The factors attributed to the growth include North America and Europe together accounted for more than half of the total direct carrier billing platform market, and this growth is expected to continue due to increased usage of direct carrier billing platforms, increased demand for trending digital contents, and an increase in platform providers' collaborations with multiple content creators or constant services in the United States, among other factors. Factors include the expanding number of over-the-top (OTT) providers in the US, as well as other significant companies, are continuing to integrate into direct carrier billing platforms like Disney, which is becoming a big trend in the region.
Recent Developments in Global Direct Carrier Billing Platform Market
October 2019-Fortumo stated in October 2019 that it had signed a collaboration deal with Vidio to provide direct carrier billing in Indonesia. vidio launched direct carrier billing by integrating Fortum's DCB solution, allowing digital merchants to access all of their company's direct connections with mobile operators.
May 2019-Boku Inc. established a collaboration with DAZN in May 2019 to allow users to sign up for and pay for services using their mobile phones, broadband, and pay TV accounts. With this cooperation, Boku will be able to provide DAZN consumers direct carrier billing and carrier bundling payment options for paying subscription fees via mobile phone bills, ISP bills, and broadcast television bills, for both cord cutters and conventional TV watchers.
Some Key Findings of the Global Direct Carrier Billing Platform Market Report Include:
The analysis includes a global direct carrier billing platform market study, expansions, and forecasts, along with a country-specific analysis.
An in-depth analysis of the global direct carrier billing platform market comprises segment by component, by platform, by end-user, and by regions with an analysis of trend-based insights and factors.
Product offering details on competitive benchmarking and evolution approach adopted by the industry players, along with their investments in the last five years in the global market have been provided in the report.
The market research includes a study of the provinces, boundaries, drivers, prospects, guidelines, challenges, and procedures that are propelling the global direct carrier billing platform market.
The study also offers complex measures of potential market effect during the forecast period and an in-depth overview of the leading companies operating in the global market.
External as well as internal variables that are expected to have a positive or negative effect on companies have been evaluated, which will offer the decision-makers a strong futuristic view of the industry.
The research also helps understand the dynamics of the global direct carrier billing platform market structure by analyzing market segments and by projecting the size of the market.
The report helps to understand the effects of COVID-19 pandemic on global direct carrier billing platform market.
Some major industry players functional in the global direct carrier billing platform market are: Comviva Technologies Ltd., Amdocs Ltd., Bango Plc, Boku Inc., Centili Ltd., Digital Turbine Inc., DOCOMO Digital Ltd., Fortumo OU, and Oracle Corp., Comviva Technologies Ltd.
To Find more insights on this topic, visit “Direct Carrier Billing Platform Market, by Type (Limited DCB, Pure DCB, MSISDN Forwarding, PIN or MO Base Window and Others), Component (Hardware, Software and Services), Platform (Android and IOS, Other), End User (Apps & Games, Video & Audio Others), Region (North America, Europe, Asia Pacific, Middle East and Africa, South America)” — Industry Trends and Forecast To 2030 in-depth analysis along with the table of contents (ToC).
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