Industry Boosted by the Slow Penetration of Credit Cards in Developing Countries
The global direct carrier billing platform market size is expected to grow by USD 40.67 billion during 2020-2024, progressing at a CAGR of almost 20% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of the Market Impact of COVID-19.
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Technavio has announced its latest market research report titled Global Direct Carrier Billing Platform Market 2020-2024 (Graphic: Business Wire)
Developing countries are highly dependent on debit cards and cash for transactions and are recording low penetration rate and use of credit cards. This is providing immense growth opportunities for the direct carrier billing platforms to emerge as a deemed payment method. The direct carrier billing payment platform enables the purchase of digital content subscriptions without having to use credit cards or mobile payment methods. The platform allows users to pay through their cellphone bills after keying in the security codes. Thus, the low penetration rate of credit cards in developing countries will propel the demand for direct carrier billing platforms during the forecast period.
Report Highlights
- The major direct carrier billing platform market share came from the apps and games segment in 2019, and it is expected to witness the fastest growth during the next five years. This is primarily because of the rising demand for online games and apps.
- APAC was the largest direct carrier billing platform market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the fast-economic growth, the high penetration of smartphones, and the increasing access to 3rd generation (3G) and 4th generation (4G) networks.
- The global direct carrier billing platform market is concentrated. Amdocs Ltd., Apigate Sdn Bhd, Bango Plc, Boku Inc., Centili Ltd., Comviva Technologies Ltd., Digital Turbine Inc., DOCOMO Digital Ltd., Fortumo OU, and Oracle Corp. are some of the major market participants. To help clients improve their market position, this direct carrier billing platform market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global direct carrier billing platform market 2020-2024 is expected to have positive superior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: www.technavio.com/report/direct-carrier-billing-platform-market-industry-analysis?
Rising Demand for OTT Content will be a Key Market Trend
The adoption of OTT content, including audio and video streaming services, such as Netflix, Amazon Prime, Spotify, and Apple Music, is increasing significantly across the world. Consumers are increasingly opting for OTT content over traditional cable or satellite content owing to the unavailability of quality content on TV and the penetration of high-speed Internet. As a result, OTT content providers are developing quality and region-specific content to compete in the growing content market. The increasing demand for OTT content is propelling the adoption of direct carrier billing as a payment method.
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Direct Carrier Billing Platform Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist direct carrier billing platform market growth during the next five years
- Estimation of the direct carrier billing platform market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the direct carrier billing platform market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of direct carrier billing platform market vendors
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View source version on businesswire.com: https://www.businesswire.com/news/home/20200819005329/en/
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