The new report by Expert Market Research titled, ‘Global Fantasy Sports Market Price, Share, Size, Trends, Growth, Report and Forecast 2023-2028, gives an in-depth analysis of the global fantasy sports market, assessing the market based on its segments like applications, manufacturing process and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 18.3 billion
- Forecast CAGR (2023-2028): 14.2%
- Forecast Market Size (2026): USD 40.6 billion
The expansion of the fantasy sports market is mostly due to technological advancements and inventions. The industry’s expansion is being aided by the development of programmes that use virtual reality (VR) to enhance the qualities of fantasy sports. In addition, analytics and big data are used in a variety of fantasy sports to improve user base, engagement, and communication for a better user experience, hence aiding the industry’s growth. Fantasy sports are also becoming more gamified, with fans being able to customise their teams, players, and management.
The use of artificial intelligence (AI) and machine learning to answer consumer questions will accelerate the expansion of the fantasy sports market in the coming years.
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Fantasy Sports Industry Definition and Major Segments
A fantasy sport (also known as rotisserie or roto) is an internet game in which users create fictional or virtual professional sports teams. These teams compete based on their players’ statistical performance in actual games. This performance is turned into points, which are collected and totaled using a roster determined by the administration of each fantasy team. These point systems can be simple enough to be computed manually by a “league commissioner” who oversees and governs the entire league, or they can be collated and calculated using computers that follow genuine professional sport results.
By type, the market is divided into:
By platform, the market is divided into:
- Mobile Application
By demographics, the market is divided into:
- Under 25 Years
- 25-40 Years
- Above 40 Years
By region, the industry is categorised into:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Fantasy Sports Market Trends
The popularity of sports leagues like the National Football League (NFL) and the Indian Premier League (IPL) is increasing demand for cutting-edge technologies. This is rejuvenating the fantasy sports industry, as it is an important tool for active fan participation and is becoming more popular in a variety of sports. Additionally, higher smartphone ownership and improved internet access are likely to boost customer numbers and boost business growth.
Additionally, because of the hectic lifestyles of young people, there is an increasing need for adventure-based entertainment, which is driving market expansion. The fact that gambling is outlawed in many countries is strengthening the market for fantasy sports, which allows players to demonstrate their skills and talents. Furthermore, significant organisations’ growing investment in digital advertisement space to raise awareness and sales of their services provides a great potential for essential vendors to grow their revenue streams.
Google recently changed its advertising policy to require fantasy sports advertisers to meet basic creative criteria and receive state licences in order to promote their services, reversing a long-standing limitation on fantasy sports organisations buying adverts. Advertisers on Google sites like Search and YouTube, as well as Google Ads and DV360, are benefiting vendors like FanDuel, DraftKings, and Yahoo Daily Fantasy. It has increased the awareness of the platform and has helped to open a new world of opportunity.
The utilisation of analytical data has given the sports betting and fantasy gaming sectors a new dimension. This data can be used to display information about players and teams in fantasy gaming apps. The information can also be used by someone who is playing a fantasy game and wants to pick his own players and earn money. Over the forecast period, the market is expected to rise due to the increasing use of analytical data in fantasy gaming.
Owing to the growing number of users in various fantasy sports, North America is contributing considerably to total industry growth. The rise of the fantasy sports sector is being fueled by the increasing availability of high-speed internet connectivity and the expanding popularity of sports such as football and baseball in the region. Furthermore, the use of cutting-edge technologies such as blockchain and artificial intelligence (AI) to deliver more immersive experiences is boosting fantasy sports’ popularity, hence assisting market growth.
Aside from that, the Asia Pacific region is experiencing strong growth as a result of the growing popularity of fantasy sports in India. Due to the growing popularity of cricket and football in India, it is quickly becoming one of the largest markets for fantasy sports. This is projected to improve the overall fantasy sports industry’s growth. Countries with strong sporting cultures, such as China and Japan, are likely to contribute significantly to the regional market’s growth. The regional market is predicted to grow as a result of continued digitalization, aggressive investments in sports, and the introduction of new athletic leagues.
Key Market Players
The major players in the market are FantasyPros, Roto Sports, Inc., Fantrax, GoodGamer Corp., Rotoworld, FanDuel Group, among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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