Escalating Smartphone Penetration Accelerates Global Direct Carrier Billing Platform Market Growth at 11.85%
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Direct carrier billing platform, also known as operator billing, is a mobile payment technology that enables the customers to make transactions by charging the amount to their monthly mobile bill. It is a cellular payment method allowing users to pay for online goods, services, products, and content through various devices such as mobile phones, smart TV, and tablets. DCB acts as an intermediary between content providers and MNOs in the market. The direct carrier billing platform is beneficial for people who lack access to basic financial services, such as consumers in the developing markets or younger consumers without bank accounts or credit cards. DCB platform service is increasingly accepted among consumers doing transactions globally due to its simplicity, security, and accessibility.
Surging Smartphone Ownership Augments Market Growth
There is an increase in mobile phone and smartphone penetration. The constant growth and adoption in the usage of smartphones and the internet, rise in internet access speed together with integrated digital media, has provided consumers with an option to access information, entertainment, customized media content, and other virtual goods and services. Moreover, customers prefer the DCB platform payment method to avail such goods and services, which allows them to subscribe to purchases that are paid directly through the mobile carrier, thereby driving the market growth.
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Android Operating System Dominated the Revenue Share in 2019
Android is a mobile operating system that provides users with a platform for personal use and business operation. Google Play Store contains about 2.6 million apps available for various industries, and the android users download from finance, gaming, media & entertainment, music, sports, and others. From 2017-2018, Google Play Store downloads have increased by a 14% growth rate.
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Asia Pacific is Projected to Record the Highest CAGR by 2028
The Asia Pacific region is estimated to record the highest growth rate during the forecast period. The rapid growth in the region is attributed to the vast growth of the digital ecosystem and SVOD, subscription video-on-demand services, which are expected to reach 1.8 billion subscribers in the region. Furthermore, the expansion of Amazon Prime in India, and along with Tencent leading the e-sports and live streaming scenes, provide attractive opportunities for DCB platform providers to develop their products and services in the region. The consumers in Asia usually have lower disposable income. Hence a growing amount of digital service providers are creating packages, such as weekly subscriptions, making the content economical.
The market boasts of various major players with a global presence. The companies are consolidating their market position through partnerships and innovation of new products of DCB platform applications. The industry rivalry is moderate, with an average demand-supply gap. The distinguished players trying to strengthen their market position worldwide include Dimoco, Boku Inc, Fortumo OU, Bango Plc, Comviva, among others.
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GLOBAL TRANSACTION MONITORING MARKET
GLOBAL CLOUD IDENTITY AND ACCESS MANAGEMENT MARKET
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