NEW
YORK, July 19, 2024 /PRNewswire/ -- The
global fantasy sports market size is estimated to grow by
USD 9.72 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 7.05% during the forecast period. Launch of various
apps for fantasy sports is driving market growth, with a
trend towards use of fantasy sports for brand promotion.
However, uncertain future of fantasy sports and ill effects of
gaming on health poses a challenge. Key market players
include APKMozo.com, Blitz Studios Inc., Dream Sports,
FantasyPros.com, Fantrax, Flutter Entertainment Plc, Fox Corp.,
GamesKraft Technologies Pvt. Ltd., GDC Media Ltd., Head Digital
Works Pvt. Ltd., i3 Interactive Inc., MyTeam11, NFL Enterprises
LLC, Paramount Global, Playerzpot Media Pvt Ltd, Premier League
Ltd., RealTime Fantasy Sports Inc., Sachar Gaming Pvt. Ltd.,
Sorare, and Yahoo.
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Fantasy Sports
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
7.05%
|
Market growth
2024-2028
|
USD 9.72
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
5.76
|
Regional
analysis
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
37%
|
Key
countries
|
US, Canada, Mexico,
China, and UK
|
Key companies
profiled
|
APKMozo.com, Blitz
Studios Inc., Dream Sports, FantasyPros.com, Fantrax, Flutter
Entertainment Plc, Fox Corp., GamesKraft Technologies Pvt. Ltd.,
GDC Media Ltd., Head Digital Works Pvt. Ltd., i3 Interactive Inc.,
MyTeam11, NFL Enterprises LLC, Paramount Global, Playerzpot Media
Pvt Ltd, Premier League Ltd., RealTime Fantasy Sports Inc., Sachar
Gaming Pvt. Ltd., Sorare, and Yahoo
|
Market Driver
Many prominent brands have adopted fantasy sports as a marketing
strategy. Unilever's Dove Men+Care launched a fantasy football hub,
offering exclusive football advice from ESPN analysts to consumers.
Toyota sponsors Yahoo fantasy football league recaps, while Hilton
provides free-entry fantasy racing contests for hotel honors club
members. Brands target high-income customers aged 25 to 50 through
this platform. This trend is anticipated to persist, contributing
significantly to the expansion of the global fantasy sports market
in the coming years.
The Fantasy Sports Market is experiencing significant growth,
with popular sports leagues and tournaments like the NFL, Premier
League, IPL, and more driving fan engagement. Fantasy sports
platforms are thriving in the online gaming sector, thanks to
high-speed internet and mobile applications. Football, baseball,
basketball, hockey, cricket, and other sports are all represented
in this industry. User interfaces and social interaction are key
features, with daily fantasy contests, virtual trading, and
gameplay at the heart of the experience. The market is also
exploring trends like eSports, virtual reality (VR), and augmented
reality (AR). Secure payment methods are essential for fantasy
sports platforms, with blockchain-based apps and one-time payments
becoming increasingly popular. Freemium models, in-app purchases,
advertising, and premium subscriptions are common revenue streams.
However, the industry faces challenges, including illegal sports
betting and online gambling. NFT-based
games, like Reignmakers and Fantasy Football, are emerging trends
in this space. Sports like soccer, FIFA, badminton, and football
(rugby) are also gaining traction. The market is continually
evolving, with new technologies and trends shaping its
future.
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Market Challenges
- The fantasy sports market experiences constant fluctuations,
with companies like FanDuel and DraftKings rising to billion-dollar
revenues, despite initial obscurity. However, their business models
faced legal challenges in 2015 due to gambling
concerns. Consumer protection became a priority, impacting market
growth. Gaming addiction leads to health issues, such as carpal
tunnel syndrome, headaches, migraines, sleep disturbances, chronic
back pain, and unhealthy eating patterns contributing to childhood
obesity. Increasing awareness of these health risks is causing some
gamers to limit their participation, negatively affecting the
fantasy sports market's growth during the forecast period.
- The Fantasy Sports Market encompasses various challenges in the
mobile application sector, including Football, Baseball,
Basketball, Hockey, Cricket, and more. Platforms
like Reignmakers and NFT-based games are revolutionizing
the industry with Virtual Reality (VR) and Augmented Reality (AR)
technology. The Online Gaming Business thrives in secure payment
methods, utilizing Blockchain-based apps and Fantasy chatbots.
Illegal sports betting and online
gambling pose challenges, but One Time Payment
and Freemium models offer solutions. Internet
penetration drives growth in Sports Tech, employing Software
engineers, Data scientists, and Cyber security professionals.
Sports viewership increases with Sponsorships and Online
sports gambling on mobile devices and the
Internet. Pay-per-download, Subscription services, and In-app
advertisements generate revenue. Sensor Tower data reveals trends
in this dynamic market.
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challenges - Request a sample report!
Segment Overview
This fantasy sports market report extensively covers market
segmentation by
- Product
- 1.1 Fantasy soccer
- 1.2 Fantasy baseball
- 1.3 Fantasy basketball
- 1.4 Fantasy football
- 1.5 Others
- Platform
- 2.1 Mobile application
- 2.2 Website
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Fantasy soccer- Fantasy soccer is a
popular game where participants build teams of real-life soccer
players and earn points based on their on-field statistics. This
game includes eleven players in four positions. Soccer's global
appeal fuels the fantasy soccer market's growth. Notable leagues
include Draft Fantasy Football, McDonald's FIFA World Cup Fantasy,
Fantasy Premier League, and UEFA Champions League Fantasy Football.
The market's expansion is anticipated to increase during the
forecast period due to benefits like unlimited pre-season
transfers, capped in-season transfers, and variable transfer fees
based on player performance. The growing number of viewers on
digital platforms is also a positive factor.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global sports tourism market is witnessing significant
growth driven by increasing fan engagement and major sporting
events. Simultaneously, the sports betting market is
expanding rapidly due to the legalization of sports
betting in various regions and advancements in digital
platforms. The sports sponsorship market is also thriving, with
brands leveraging high-profile sports events to enhance visibility
and consumer engagement. Together, these markets are transforming
the sports industry, creating new opportunities for stakeholders
and driving substantial economic impact globally.
Research Analysis
The Fantasy Sports Market is a thriving online gaming business
that allows fans to engage with their favorite sports leagues and
teams in a unique way. With the increasing popularity of the NFL,
Premier League, IPL, and other global tournaments, the market for
fantasy sports is experiencing exponential growth. High-speed
internet and smartphones have made it easier than ever to access
fantasy sports platforms and participate in real-time. Fantasy
sports platforms offer secure payment methods, ensuring a safe and
enjoyable experience for users. The latest innovations include
blockchain-based apps and fantasy chatbots, providing enhanced
security and convenience. However, the industry also faces
challenges such as illegal sports betting and the need
to comply with regulations. Sports Tech companies are at the
forefront of developing new software and hiring software engineers
and data scientists to analyze player statistics and create
accurate projections. With the increasing internet penetration in
emerging markets, the fantasy sports market is poised for even
greater expansion. Baseball, Cricket, Football (rugby), and
Volleyball are just a few of the many sports that have a dedicated
fan base in the fantasy sports community.
Market Research Overview
Fantasy sports markets have seen explosive growth in recent
years, fueled by the popularity of sports leagues and tournaments
across the NFL, Premier League, IPL, and more. Fans engage with
fantasy sports platforms through high-speed internet and online
gaming, enjoying gameplay on user-friendly interfaces that offer
social interaction and daily fantasy contests. Virtual trading in
football, baseball, basketball, hockey, cricket, and other sports
is a major draw, with mobile applications and virtual reality (VR)
and augmented reality (AR) experiences adding to the excitement.
The online gaming business is booming, with secure payment methods
and blockchain-based apps ensuring safety and transparency.
NFT-based games like Reignmakers and Fantasy Football are also
gaining traction. However, illegal sports betting and
online gambling pose challenges, with one-time
payment, freemium, website, in-app purchases, advertising, and
premium subscriptions all part of the business model. Sports tech
companies employ software engineers, data scientists, and cyber
security professionals to develop innovative solutions, while
badminton, football (rugby), volleyball, and other sports also have
their dedicated fan bases. Internet penetration and sports
viewership continue to drive growth, with sponsorships and online
sports gambling adding revenue streams. Mobile devices and the internet are essential tools
for accessing these services, with pay-per-download, subscription
services, and in-app advertisements providing additional revenue
opportunities. Sensor Tower reports that the mobile application
sector is a key driver of growth in the fantasy sports market.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Fantasy Soccer
- Fantasy Baseball
- Fantasy Basketball
- Fantasy Football
- Others
- Platform
-
- Mobile Application
- Website
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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