Hyderabad, Aug. 16, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Fantasy Sports Market Report (2023-2028)," the market is estimated at USD 26.98 billion in 2023. It is expected to register a CAGR of 12.92% during the forecast period.
In fantasy sports, participants create virtual teams with real-life professional athletes to play online games. Professional online gamers are achieving the status of celebrities and are rising in popularity with increasing internet and smartphone usage. It also presents sports tech opportunities for software engineers, data scientists, and cybersecurity professionals. The convenience of online sports gambling through mobile devices is boosting the growth of the market. Fantasy sports is seen as a legal alternative to sports betting in the future.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 26.98 billion |
| Market Size (2028) | USD 49.53 billion |
| CAGR (2023-2028) | 12.92% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Growing player popularity and the emergence of sports leagues. |
| Investments in digital infrastructure. |
Who are the Top Companies in the Global Fantasy Sports Market?
The market is fragmented. Companies use strategic collaborative initiatives to increase their market share and profitability. Mid-size and smaller players are growing their market presence by securing new contracts and tapping new markets using technology.
The significant players in the global fantasy sports market are:
- CBS Sports Digital
- DraftKings Inc.
- NFL Enterprises LLC
- FanDuel Group
- Yahoo Fantasy Sports LLC
- ESPN Sports Media Ltd
- Sleeper (Blitz Studios Inc.)
- Dream Sports Group
- RealTime Fantasy Sports Inc.
- Bovada
- Flutter Entertainment PLC
- Low6 Limited
- Vauntek Inc. (Fantrax)
- Sorare SAS
Other Reports That Might Be of Your Interest:
- Asia-Pacific Fantasy Sports Market Report - The Asia-Pacific fantasy sports market is expected to register a CAGR of 14.07% over the next five years.
- North America Fantasy Sports Market Report - The North American fantasy sports market size is expected to grow from USD 11.70 billion in 2023 to USD 21.46 billion by 2028, at a CAGR of 12.90% during the forecast period (2023-2028).
Key Highlights from the Global Fantasy Sports Market Report:
Increasing Sports Fan Engagement
- Fantasy sports offer engaging and interactive experiences for sports fans. It offers a sense of being part of the game.
- In the United States, the number of fantasy sports participants increased from 42 million in 2015 to 50.4 million in 2022.
- Fantasy soccer, with its massive global fan base of over 5 billion, is highly popular. Major football leagues like Premier League, La Liga, and Bundesliga have numerous fantasy leagues.
North America Leading the Market
- North America is a significant player in the football fantasy sports market, which is expected to expand further in the coming years. Economic growth, increasing demand for football, internet-accessible tools, and sports partnerships are the major factors behind this push. North America also has a strong sports culture with passionate fan bases for leagues like NFL, NBA, NHL, and MLB.
- Fantasy football and gridiron football are popular in the United States, contributing significantly to the market. Over 80% of all fantasy sports participants in North America are based in the United States.
- Canada has a diverse gaming industry, including fantasy football and online gambling. Technological innovations, consumer preferences, and shifts in perception are driving the Canadian fantasy gaming market.
What are the Latest Developments in the Global Fantasy Sports Market?
- In March 2023, DraftKings Inc. announced plans to open its renowned online sportsbook, subject to licensing and regulatory approval in Massachusetts.
- In January 2023, Fantasy Akhada announced intentions to sell a significant stake to GMR Sports for an estimated USD 160-175 million.
Mordor Intelligence has Segmented the Global Fantasy Sports Market Based on Type, Platform, Demographics, Application, and Geography.
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Football
- Baseball
- Cricket
- Basketball
- Car Racing
- Others
- By Platform (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Website
- Mobile Application
- By Demographics (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Under 25 Years
- Between 25 and 40 Years
- Above 40 Years
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Individual Competition
- Team Competition
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Fantasy Sports Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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