Carrier billing spend to reach $73.8 billion globally by 2024, as 5G networks increase content consumption
Via Juniper Research
Feb 8, 2022
Hampshire, UK: A new report from Juniper Research has predicted that end-user spend via carrier billing will increase to $73.8 billion in 2024, from $54.4 billion in 2021, with growth driven by 5G-based mobile gaming and video subscriptions. To leverage this growth, the report advises operators to forge new partnerships with content providers to build frameworks that enable the distribution of new content paid for by carrier billing.
The new report, Carrier Billing: Opportunities, Challenges & Market Forecasts 2022-2026, also expects carrier billing spend on content bundling to enable operators to further recoup investments into 5G by charging a premium to facilitate high-quality video and games streaming over 5G networks. To maximise this opportunity, it urges operators to offer payment services in markets underserved by existing digital payment methods to maximise carrier billing spend.
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Indian Subcontinent Identified as Key Opportunity
Operators must expand the geographical reach of carrier billing; leveraging the trust fostered between them and their subscribers, and becoming increasingly valuable partners to content providers. It identified the Indian Subcontinent as a key target region for carrier billing stakeholders over the next two years, with smartphone penetration in the region expected to reach 50% by 2024.
New Opportunities in the Transit Sector
The research also found that carrier billing spend on digital ticket purchases will grow by 250%, from $141 billion in 2021 to $275 billion in 2024. It predicts that the rise of new transportation modes, such as MaaS (Mobility-as-a-Service) will drive carrier billing spend for transit services by offering an improved user experience across a single app that can leverage carrier billing to process the payment. Additionally, RCS (Rich Communication Services) messaging will provide an interface between MaaS users and transit service providers; offering real-time travel updates.
Research author Susannah Hampton says: “Operators should focus on demonstrating their relevance to transit; driving the further growth of carrier billing via an improved range of technology partnerships.”
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