New York, United States , July 25, 2023 (GLOBE NEWSWIRE) -- The Global Fantasy Sports Market Size is to grow from USD 25.87 billion in 2022 to USD 89.92 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 13.2% during the projected period. Increasing game-streaming capabilities, as well as sports availability across traditional and next-generation platforms, boosts user engagement with betting and rotisserie platforms.
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Fantasy sports are online game platforms that allow players to create and manage virtual teams comprised of real-life professional athletes. Users compete against each other's fantasy teams throughout a sports league or season. Users with the most points win money based on the actual performance of professional athletes. In the rapidly evolving online gaming industry, adopting new technologies for better and more efficient operations is critical. Sports Tech is expected to employ highly skilled software engineers, data scientists, and cyber security professionals. It will almost certainly increase sports viewership, sponsorship, and participation, all of which will have a direct impact on the development of sports. As a result, platforms for sports fan engagement such as Fantasy Sports are altering how fans interact with live sporting events. The adoption of secure payment methods, an easy-to-use interface, blockchain-based apps, and fantasy chatbots has resulted in significant increases in revenue generation, customer satisfaction, and operational efficiency in the fantasy sports industry. The incorporation of such technologies is expected to continue to provide appealing opportunities for market participants to better manage users and core operations. However, despite the fact that fantasy sports are primarily skill-based, they are frequently confused with illegal sports betting. Fantasy sports are always subject to legal scrutiny under various gambling laws in different countries.
Browse key industry insights spread across 210 pages with 133 Market data tables and figures & charts from the report on the, "Global Fantasy Sports Market Size, Share, and COVID-19 Impact Analysis, By Sports Type (Football, Baseball, and Others), By Platform (Website, Mobile Application), By Demographics (25 To 40 Years, Under 25 Years), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032" Get Detailed Report Here:
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The football segment accounted for the largest share of the global fantasy sports market in 2022.
The global fantasy sports market is divided into football, baseball, and other sports. Football had the largest share of the global fantasy sports market in 2022. The popularity of fantasy football has grown, as has the highly addictive nature of such platforms and the relative ease with which information about a manager's team can be obtained. As a result, fantasy football has captured the majority share of the global fantasy sports market.
The mobile application segment is expected to hold the largest share of the global fantasy sports market during the forecast period.
The global fantasy sports market is divided into two platforms: website and mobile application. The mobile application segment will likely account for the majority share of the global fantasy sports market throughout the forecast period. The widespread adoption of mobile phones, combined with rapid growth in the market, has resulted in the release of an extensive range of mobile applications for different operating systems, specifically Android and IoS.
The 25 to 40 years segment is expected to hold the largest share of the global fantasy sports market during the forecast period.
The global fantasy sports market is separated into two demographics groups: 25 to 40 years and under 25 years. Among these, the 25 to 40-year-old age group is projected to dominate the largest share of the global fantasy sports market throughout the forecast period. This age group is willing to enter pay-to-participate contests due to the low entry costs and the higher disposable income available for entertainment.
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North America is anticipated to hold the largest share of the global fantasy sports market over the predicted timeframe.
North America is expected to have the greatest share of the global fantasy sports market in the coming years. In terms of macroeconomic factors, the United States has the largest GDP in the world. Platforms and large media companies are collaborating to improve promotions and advertisements. Significant capital investments from a variety of investment firms, including sports teams and broadcasters, as well as aggressive marketing campaigns emphasizing large cash prizes, have aided the region's robust market growth.
Europe is anticipated to expand at the highest rate in the global fantasy sports market throughout the forecast period. In the Europe region, new players have emerged, particularly on fantasy cricket and fantasy football platforms. In order to increase their market share and target audience, European fantasy sports operators are now collaborating with local sports betting companies.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Fantasy Sports Market include Dream Sports Group, CBS Sports Digital, Realtime Fantasy Sports Inc., Flutter Entertainment plc, Vauntek Inc. (Fantrax), DraftKings, Pure Win (Sweetspot N.V.), FanDuel, FantasyPros.com, MY11Circle, FANTACALCIO (Quandronica Srl), RotoWire (GDC Media Limited), NBC Sports Edge (NBC Sports Group), MyFantasyLeague (Sideline Software Inc.), Office Football Pool (OFP Hosting Inc.), and Among Others.
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Recent Developments
In January 2023, Fantasy Akhada, a GMR Group affiliate, has announced plans to sell a significant stake to GMR Sports for an estimated USD 160-175 million (INR 1,300-1,400 Crore). The transaction is expected to be completed in stages, with GMR displacing some early investors in the subsequent rounds.
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