Global Direct Carrier Billing Platform Market 2019-2023 | 13% CAGR Projection Over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--May 20, 2019--
The global direct carrier billing platform market is expected to post a CAGR of close to 13% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global direct carrier billing platform market from 2019-2023. (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 their security codes. Thus, the slow penetration rate of credit card in developing countries will propel the demand for the direct carrier billing platforms during the forecast period.
As per Technavio, the rising demand for OTT content will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global direct carrier billing platform market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global direct carrier billing platform market: Rising demand for OTT content
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 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.
“Direct carrier billing is evolving as a significant component of the e-commerce value chain. The platform eliminates multiple payment tools, structures, and interfaces. Direct carrier billing also provides capabilities of the application programming interface (API) approach for a single integration. This allows consumers to access all the merchants for purchases, which will also support cross-border sales. Thus, the adoption of direct carrier payment method for the purchase of physical and digital goods will increase significantly during the forecast period,” says a senior research analyst at Technavio.
Global direct carrier billing platform market: Segmentation analysis
This market research report segments the global direct carrier billing platform market by end-user (apps and games, online media, and others) and geographic regions (APAC, Europe, South America, North America, and MEA)
The APAC region led the market in 2018, followed by Europe, South America, North America, and MEA, respectively. The market growth in APAC can be attributed to several factors such as fast economic growth, high penetration of smartphones, and increasing access to 3 rd generation (3G) and 4 th generation (4G) networks in the region. The direct carrier billing platform market is witnessing rapid growth in Southeast Asia owing to the increasing penetration of smartphones and low prevalence of credit cards.
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KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY INTERNET SOFTWARE MOBILE/WIRELESS PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: Technavio Research
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