The direct carrier billing market in Asia-Pacific is expected to grow from US$ 13,504.4 million in 2019 to US$ 35,700.1 million by 2027; it is estimated to grow at a CAGR of 13.1% from 2020 to 2027.The direct carrier billing market has escalated at an exceptional rate over the years in developed as well as developing countries. The widespread adoption of smartphones is a key factor influencing the direct carrier billing market. In the modern era, a significant percentage of the global population still lacks access to basic financial technologies, such as debit and credit cards. With an objective to empower the individuals under this category, several FinTech companies are investing substantial amounts in developing robust and easy-to-use technologies. The continuous innovation is benefiting the individuals with advanced systems and payment methods. Prior to the introduction of smartphones, the direct carrier billing concept was restricted to the purchase of wallpapers and ringtones. However, with the evolution of smartphones, the users are now able to purchase various digital content, including apps, games, features, and tokens, among others, in a user-friendly manner.
The iOS platform is projected to register the highest CAGR in the Asia-Pacific direct carrier billing market during 2020-2027. There are various countries where customers can pay for app store purchases through direct carrier billing. When direct carrier billing is utilized as a payment method, any app subscriptions, Apple Music, and other digital purchases done on Mac App Store, iTunes Store, iBooks Store, and App Store, the bill get conveniently charged to a monthly mobile phone bill or else subtracted from users’ prepaid amount. Increasing adoption of direct carrier billing in iOS phones or gadgets is nurturing the market growth. In addition to app store purchases, various other subscription-based services such as Netflix, Spotify, and Amazon Prime Video are being purchased by customers using carrier billing on their iOS devices.
The overall Asia-Pacific direct carrier billing market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Asia-Pacific direct carrier billing market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia-Pacific direct carrier billing market. Bango PLC, Boku Inc., Centili, Comviva Technologies Limited, Fortumo, TELECOMING S.A., and txtNation Limited are among a few players operating in the Asia-Pacific direct carrier billing market.