The Direct Carrier Billing (DCB) industry will grow over the next three years, reaching US $28 billion in global revenue by 2023, new research commissioned by PM Connect and conducted by Mobilesquared has found.
According to the report, DCB technology will also reach 1.5 billion users in the same time period, led by growth in mobile ticketing, health & fitness, and on-demand sports content. And that by 2023 39% of smartphone users will regularly access lifestyle and sports content, tickets, videos and news articles through DCB payments – up from 26% in 2020.
In the UK the technology projected to reach $310m in revenue by 2023, an increase of 26% from 2020 and $2.5bn in Western Europe – an increase of 17%.
Looking further afield, emerging markets such as Africa and the Middle East (where access to banks and financial facilities is comparatively low), more users will become DCB converts. In Africa, DCB users are set to reach 130 million by 2023 – a 60% increase from 2020, while in the Middle East revenue is set to rise by 30% to $885m.
While the current climate has presented undoubted challenges across industries, it has underlined the power of the smartphone for communication and payment. Mobile internet use has surged by 50% in some markets, as consumers look to their phones as the best way to stay connected to their favourite brands – coupled with an increase in organisations communicating to their audiences via SMS. Slotting neatly into this mobile ecosystem, DCB is a more universal way to pay – bypassing the need for long sign-up processes or inputting bank account details, alongside transparent direct communication.
Chris Purdie, Group Commercial Director at PM Connect