Surging Digital Content Consumption Key Reason Augmenting Adoption of Direct Carrier Billing as Convenient Payment Method

ROCKVILLE, MARYLAND, UNITED STATES, August 6, 2024 /EINPresswire.com/ -- Fact.MR, a market research and competitive intelligence provider, reveals in its recently updated research report that the global direct carrier billing market is estimated at a value of US$ 42.38 billion in 2024 and is projected to increase thereafter at a CAGR of 8.8% through 2034.

Direct carrier billing (DCB), an online payment method, is gaining immense popularity due to its convenience for digital content purchases related to apps, games, and media. Rapidly rising demand for digital content such as streaming services, games, and apps is a key factor driving high adoption of direct carrier billing as a preferred payment option.

Subscription-based services across various industries such as utilities, entertainment, and education are creating high-growth opportunities for direct carrier billing system providers. Subscription services often require recurring payments, which can be easily and smoothly carried out through direct carrier billing systems. Users find it easy to process billing directly through their phones.

The direct carrier billing system is also advantageous in developing regions where credit card penetration is low but the use of mobile phones is high. This is benefiting direct carrier billing companies in earning more in untapped and high-potential market.

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Key Takeaways from Market Study

The global direct carrier billing market are forecasted to reach US$ 98.5 billion by 2034.Pure DCB is estimated to capture 40% of the global market share in 2024.

The United States market is projected to reach a size of US$ 24.13 billion by 2034.The South Korea market is foreseen to register a CAGR of 10.6% through 2034.Japan is expected to hold 28.9% of the East Asia market share in 2024.

“Proliferation of connected devices and IoT applications will generate lucrative avenues for DCB companies beyond convenient digital purchases,” says a Fact.MR analyst.

Competitive Analysis

Some of the leading providers of direct carrier billing solutions are Centili, Comviva Technologies Limited, DIMOCO, Google LLC, Mobiyo, and Fortumo. These leading companies are employing strategies such as partnerships with mobile operators, technological innovations, and mergers & acquisitions. Intense competition has made it necessary for DCB producers to consistently improve their service, customer support, and product features.

• In July 2022, SEAGM, a digital goods and services platform, partnered with SLA Digital to offer its customers an additional payment option through carrier billing.

Giants in the sector can find strong development possibilities throughout the foreseeable period as consumers' adoption of digital products and their knowledge of direct carrier billing services continue to rise. In addition, direct carrier billing offers the best purchasing experience in virtual settings when contrasted with alternative opposing payment methods. A wide variety of direct carrier billing solutions are available, which facilitates the creation of easy and affordable ways for mobile operators to deliver updated content as well as new income streams.

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Growing Uptake of Subscription Video-on-Demand Services and OTT Platforms

The declining popularity of television content and the more affordable high-speed internet are driving an increase in the use of over-the-top (OTT) entertainment services. At the moment, smartphones are the primary platform for OTT content uptake. Due to the overwhelming popularity of OTT services, direct carrier billing is now accepted as a payment option by a large number of network service providers.

One of the noteworthy direct carrier billing industry trends that is becoming more and more prominent is the benefit that customers see when they pay for or subscribe to a feature or media content while offline. DCB sales growth is also being accelerated by the growing popularity of subscription video-on-demand services and the proliferation of digital content, including live streaming and e-sports. Direct carrier billing solutions are becoming more and more popular as cloud computing infrastructure is being used more and more.

Bringing Down the Cost of Smartphones and Related Services in Developing Nations

The number of smartphone users worldwide is significantly increasing in developing nations. This is mostly because they are inexpensively available. Numerous manufacturers of smartphones are erecting their production facilities in the very promising nations of Latin America, MEA, and Asia Pacific.

Furthermore, the widespread use of features like gaming, applications, and over-the-top (OTT) services is being driven by smartphones' simple cost. Anticipate these affordable smartphones to be equipped with cutting-edge technologies, allowing consumers to benefit from premium features. Because of this, the popularity of paid applications, OTT services, and mobile gaming is also growing quickly.

In addition, the number of smartphone users in emerging nations is far higher than the number of credit card users. A large portion of the population does not use credit cards, which presents a huge opportunity for direct carrier billing solution providers to make large profits.

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