BANGALORE, India, Oct. 12, 2020 /PRNewswire/ -- According to the Latest Market Research Report " Fantasy Sports Market by Sports Type (Football, Baseball, BasketBall, Hockey, Cricket, and Others), Platform (Website, and Mobile Application), and Demographics (Under 25 Years, 25 to 40 Years and Above 40 Years) – Global Forecast to 2027 ", published on Valuates Reports
The global fantasy sports market size was valued at USD 18.6 Billion in 2019 and is expected to reach USD 48.6 Billion by 2027, registering a CAGR of 13.9% from 2021 to 2027.
Major factors driving the fantasy sports market size are the growing popularity of players in different sports, the increasing investment in internet infrastructure, and the introduction of new fantasy sports applications.
The study focuses on the growth prospects, constraints, and opportunities of the global Fantasy Sports Market. Based on consumer spending on fantasy sports websites, the competition is analyzed.
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TRENDS INFLUENCING THE FANTASY SPORTS MARKET SIZE
Companies in the fantasy sports market offer consumers with complete transparency. The platforms allow users to view teams formed by their rivals and disclose the sum of money to be earned in a match by different rank holders at the beginning of the game. This transparency creates much-needed trust and, in turn, fuel the growth of Fantasy Sports Market size.
Increased technological advancement of the fantasy sports platform enables consumers to participate in fantasy sports for a wide range of sporting activities worldwide. This growing technological advancement is expected to fuel the market size during the forecast period.
In recent years, the number of female end-users in the global fantasy sports industry has risen exponentially. In addition to the rising recognition of games among women, a rising number of sports activities catering to women are major factors in the growth of women's fantasy sports worldwide. This rise in the number of women users is expected to further propel the fantasy sports market size.
FANTASY SPORTS MARKET SHARE ANALYSIS
North America is expected to hold the largest fantasy sports market share during the forecast period. North America's dominance is attributed to economic growth, the rising popularity of sports, and an increasing number of internet-accessible devices and sports sponsorships.
Asia Pacific region is expected to witness substantial growth during the forecast period, mainly due to India's growing number of users. Also, the penetration of smartphones and internet connectivity is expected to fuel the region's fantasy sports market size.
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FANTASY SPORTS MARKET SEGMENTATIONS
By Sports Type
- Mobile Application.
- Under 25 Years
- 25 to 40 Years
- Above 40 Years
- North America
- Rest of Europe
- Rest of World
- Other Countries
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