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Global Direct Carrier Billing Market to 2027 - COVID-19 Impact and Analysis - ResearchAndMarkets.com

The "Direct Carrier Billing Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type; Platform; End User" report has been added to ResearchAndMarkets.com's offering.

The global direct carrier billing market was valued at US$ 29.8 billion in 2019 and is projected to reach US$ 70.0 billion by 2027; it is expected to grow at a CAGR of 11.5% during the forecast period.

The direct carrier billing market has risen at an exceptional rate over the years in the developed, as well as in developing, countries worldwide. The widespread adoption of smartphones is a key factor driving in the market growth.

In addition, the telcos are also showcasing tremendous interest in the development of direct carrier billing system over the years, which has also reflected positive growth in the direct carrier billing market. Prior to the introduction of smartphones, the concept of direct carrier billing was restricted to the purchase of wallpapers and ringtones. Since the evolution of smartphones, the users are able to purchase various digital content, including apps, games, features, and tokens, in a user-friendly manner. Thus, continuous advancements in FinTech and the growing adoption of smartphones are catalyzing the direct carrier billing market growth.

Impact of COVID-19 Pandemic on Direct Carrier Billing Market

The COVID-19 outbreak began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace around the globe. As per the latest WHO figures, there are ~4.89 million confirmed COVID-19 cases globally with ~323,000 total deaths. The global factory shutdowns, travel bans, and border lockdowns, to combat and contain the transmission, have impacted every industry and economy worldwide. Technology events and industry meet cancellations, factory and office shutdowns, and reduced business activities are among the major effects faced by the sector.

The global travel bans imposed by countries in Europe, Asia Pacific, North America, and others are holding back the companies from business collaborations and partnerships opportunities. However, the COVID-19 crisis also had a positive impact on the growth of companies operating in the fields such as e-commerce, video-conferencing, and mobile payments. The demand for digital services especially video and audio streaming has grown at a high rate in past few months. Similarly, online app and game purchases have also increased due to most people working from home and staying indoors. All these factors are anticipated to impact the growth of the global direct carrier billing market, especially in 2020 and 2021, depending on the duration of the outbreak.

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For more information about this report visit https://www.researchandmarkets.com/r/mtmrhv

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