The direct carrier billing platform market will register a CAGR of nearly 13% by 2023
NEW YORK, June 11, 2019 /PRNewswire/ --
About this market
The increased use of subscription-based digital content will drive market growth during the forecast period. With the evolution of audio and video streaming services through cellphones, direct carrier billing has gained prominence as an effective payment method. Mobile network operators also enable the consumption of streaming services through the broadband Internet. They charge for the same on users' cellphone bills. The adoption of direct carrier billing as a payment method is benefiting digital content publishers and mobile network operators. The rising adoption of digital content is majorly attributed to the enhanced high-speed Internet infrastructure and cloud computing infrastructure. Carriers in developing countries are majorly improving their broadband infrastructure with increased bandwidth at affordable prices. Therefore, the rising popularity of subscription-based digital content will drive the adoption of the direct carrier billing platform globally during the forecast period. Our analysts have predicted that the direct carrier billing platform market will register a CAGR of nearly 13% by 2023.
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Market Overview
Direct carrier billing enabling secure payments and convenience
The increasing convenience of direct carrier billing is one of the major factors augmenting its adoption globally. Direct carrier billing is a simplified payment method that provides several advantages such as convenience to faster checkout, low revenue leakage, easy accessibility to customer care, and enables secure payments. These advantages are enabling consumers, merchant, and mobile network operators to adopt direct carrier billing services for most of the transactions.
Availability of other payment options
The availability of different payment options as an alternative to direct carrier billing is increasing and becoming a significant threat to the global direct carrier billing platform market. The rise in the use of other payment options such as mobile wallet payment systems, credit and debits cards, and net banking across regions is also directly impacting the growth of the market in focus. Moreover, evolving payment technologies are prompting internet companies to focus on providing innovative software-based payment solutions. Hence, the increasing adoption of alternative payment methods is expected to hamper the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the direct carrier billing platform market during 2019-2023, view our report.
Competitive Landscape
The market appears to be highly concentrated. The presence of a few companies, including Bango Plc and Boku Inc. makes the competitive environment quite intense. Factors such as the increased use of subscription-based digital content and the slow penetration rate of credit card in developing countries will provide considerable growth opportunities to direct carrier billing platform manufacturers. DIMOCO Europe GmbH, DOCOMO Digital Ltd., and Fortumo OU. are some of the major companies covered in this report.
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