Dublin, Jan. 15, 2024 (GLOBE NEWSWIRE) -- The "North America Fantasy Sports Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The latest comprehensive research on the North America Fantasy Sports Market forecasts substantial growth, with market size expected to surge from USD 11.70 billion in 2023 to a remarkable USD 21.46 billion by 2028, achieving a Compound Annual Growth Rate (CAGR) of 12.90% during the forecast period. This growth trajectory signals a vibrant future for fantasy sports across the continent, where technological advancements and consumer engagement patterns are setting dynamic trends in the industry.
Among the central elements fueling the expansion are the rise in popularity of sports personalities, the deep-seated love for football, significant investments in internet infrastructure, and the proliferation of fantasy sports applications. The latter, in particular, have enhanced user experiences with features like performance tracking and expert analysis, further solidifying market growth.
Daily Fantasy Sports Continues to Dominate the Market
Daily Fantasy Sports (DFS) is anticipated to maintain its dominance in the North American market, especially since the Professional and Amateur Sports Protection Act was deemed unconstitutional, allowing states to legalize sports betting. Major players like DraftKings and FanDuel capture majority market shares, a testament to the segment's robustness and widespread appeal. The regulatory landscape for DFS remains a focal point, with varying legal interpretations across jurisdictions.
Football’s Popularity Catalyzes Market Growth
Football remains a key driver of the North American Fantasy Sports Market, consistently attracting a wide user base. With prominent leagues and partnerships, such as those involving the NFL, the market for football fantasy sports shows no signs of deceleration.
The insights provided by the research emphasize the gradual but steady shift towards legalized sports betting and the intensifying integration of fantasy sports in brand promotion strategies—factors that are anticipated to contribute significantly to revenue generation in the North American landscape.
The competitive landscape in the Fantasy Sports Market encapsulates a blend of strategic collaborations and expansions by renowned industry players aimed at leveraging new market opportunities and enhancing customer experience.
Industry-Transforming Innovations and Partnerships
- Innovative sports betting alternatives are attracting remarkable investment, indicating the industry's ripe environment for digital transformation.
- Strategic partnerships with media personalities have heralded a new era of sports entertainment, blending content with interactive user engagement.
This in-depth analysis of the North America Fantasy Sports Market presents a compelling view for stakeholders, strategists, and investors, revealing the market dynamics and identifying key growth areas. The report offers a strategic outline aligning with emerging sectoral trends and economic forecasts.
A selection of companies mentioned in this report includes
- DraftKings Inc.
- Fan Duel Group
- Yahoo Fantasy Sports
- CBS Sports
- ESPN
For more information about this report visit https://www.researchandmarkets.com/r/4gabns
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