Pune, India, June 12, 2018, MRFR Press Release/- Market Research Future published a half cooked research report on Direct Carrier Billing Market.
Market Highlights
The Direct Carrier Billing Market size exceeded USD 89.6 Billion in 2030 and is projected to expand at over 14.20% CAGR from 2022 to 2030.
Direct carrier billing is a mobile payment method that bills purchases from third-party vendors of digital products on the user’s monthly phone bill. It offers consumers, merchants, and mobile network operators, a whole host of opportunities within the payment industry. This service has become increasingly popular among consumers completing transactions globally because of its simplicity, security, and accessibility. Direct carrier billing lets wireless subscribers place the cost of purchase for a digital good on their monthly phone bill. It is especially useful for people who lack access to the basic financial services, such as consumers in the developing markets or younger consumers without bank or credit accounts.
Key Players
Some of the key players of direct carrier billing market include NTT DoCoMo, Bango, Boku, Singtel, Swisscom, T-Mobile, Fortumo, DIMOCO, Telenor, Orange, AT&T, Bell Canada among others. The prominent players keep innovating and investing in research and development to present cost-effective offerings. Merger and acquisitions among the various players are changing the market structure. For instance, in September 2017, ALTBalaji, the largest digital platform for exclusive and original shows from India, partnered with Boku, a global leader in carrier billing-based mobile payments, to make carrier billing available as a payment option to international users. This partnership will enable ALTBalaji’s viewers and new customers across the globe to pay in a way that is 100% mobile, convenient, and enables them to access the content instantly.
The global market for direct carrier billing is estimated to grow at a significant rate during the forecast period from 2022 to 2030 The geographical analysis of direct carrier billing market is covered for the regions such as North America, Europe, Asia Pacific, and rest of the world. Direct carrier billing companies make most of their money in developed markets like North America and Europe. The market for DCB in Europe is expected to grow due to the initiatives taken by the government. Payments across Europe are regulated by the Payments Services Directive (PSD) 2007, which is designed to increase pan-European competition and participation in the payments industry from non-banks. The new regulation is standardizing and improving payment efficiency across the EU FinTech industry while promoting innovation and competition between banks and new payment service providers. Asia Pacific is expected to grow at significant pace during the forecast period due to higher smartphone penetration due to a population explosion in the region. Due to rise in the number of smartphones users, traditional payment methods are lagging behind. The market for direct carrier billing has great potential in emerging markets like India, where mobile penetration is high, however, hundreds of millions of people lack credit cards or bank accounts.