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)–lt;a href=”https://twitter.com/hashtag/BillingPlatform?src=hash” target=”_blank”gt;#BillingPlatformlt;/agt;–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.
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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