Direct Carrier Billing Platform Market in the US 2019-2023 | Rising Popularity of Subscription Model of Paid Streaming Services to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--May 20, 2019--
The direct carrier billing platform market in the US is expected to post a CAGR of over 14% 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 direct carrier billing platform market in the US from 2019-2023. (Graphic: Business Wire)
Paid streaming services are one of the prominent revenue-generating domains in the DCB platform market in the US. The adoption of video and audio streaming services is increasing in the US. Netflix, Hulu, Amazon Prime Video, HBO, CBS, Spotify, and Apple Music (audio service offerings) are a few of the prominent choices in the country. The prominent growth driver for the adoption of paid streaming services is the availability of these services in bundled packages by carrier networks. Other factors include declining prices of services, the growing population of the millennials, and availability of content without advertisement. Hence, the increasing popularity of the subscription-based model in paid streaming services will boost the demand for DCB platforms in the US during the forecast period.
As per Technavio, the growth of m-commerce in the US will have a positive impact on the market and contribute to its growth significantly over the forecast period. This direct carrier billing platform market in the US 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Direct carrier billing platform market in the US: Growth of m-commerce in the US
The high tablet and smartphone penetration in the US has made m-commerce one of the upcoming growth segments for the DCB platform market in the US. DCB platforms are used in m-commerce for the purchase of physical and digital products and services. From purchasing products on an e-commerce platform to purchasing online tickets for movies or shows, everything can be achieved through these platforms. Customers have to enter their mobile numbers to complete the transaction, and the amount is charged to the prepaid or postpaid connection of consumers. The advantage for consumers using DCB for cellphones purchase or m-commerce is that it significantly reduces the transaction time and also facilitates a more secure transaction. This is because customers do not have to share details such as credit/debit card and CVV numbers. Therefore, the growing preference of DCB in m-commerce and its growth in the US will significantly augment growth during the forecast period.
“Another aspect driving the growth of the DCB platform market in the US market is the increasing use of the DCB payment method in the gaming industry, which includes the gaming market for mobile and consoles in the country. The rising popularity of mobile gaming is one of the prominent market growth drivers. The development of new and advanced games has increased the purchasing volumes of gaming consoles. Users can make payments for gaming applications on their gaming consoles using their mobile numbers. As a result, the adoption rate of the DCB platform in gaming consoles will increase during the forecast period,” says a senior analyst at Technavio.
Direct carrier billing platform market in the US: Segmentation analysis
This market research report segments the direct carrier billing platform market in the US by end-user (apps and games, online media, and others).
The apps and games segment led the market in 2018, followed by online media, and others, respectively. However, during the forecast period, the online media segment is expected to register the highest incremental growth of close to 5%.
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KEYWORD: UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE MOBILE/WIRELESS
SOURCE: Technavio Research
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