Fantasy Sports Market to grow by USD 8.16 billion from 2022 to 2027 | Launch of various apps for fantasy sports to boost the market growth- Technavio

NEW YORK, Aug. 18, 2023 /PRNewswire/ -- The fantasy sports market is expected to grow by USD 8,162.12 million from 2022 to 2027, progressing at a CAGR of 6.43% as per the latest Technavio market research report. North America is going to have lucrative growth during the forecast period. About 39% of the market's overall growth is expected to originate from North America. Several Providers in the region are offering fantasy sports games to gain a competitive advantage over traditional players in the gaming industry. The increasing adoption of smartphones, desktops, and laptops is expected to drive market growth in the region. Furthermore, the US smartphone market in 2020 consists of over 290 million smartphone users. This forced major companies to develop efficient and user-friendly applications, resulting in a huge customer base. Hence, these factors are expected to drive market growth in the region during the forecast period. For more insights on the market share of various regions- Download a sample report in MINUTES

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Fantasy Sports Market: Market Dynamics

Ky Drivers

The launch of various apps for fantasy sports is a key factor driving the market growth. Due to smartphones, people are now able to play fantasy games on their phones. The gaming experience is highly enhanced due to the availability of high-end smartphones with large screens and high resolutions. In addition, fantasy sports applications offer a more complete, leisurely, and satisfying gaming experience. One of the most famous fantasy sports apps is ESPN Fantasy Sports which supports traditional sports such as fantasy baseball, basketball, soccer, and hockey. Hence, the increasing launches is expected to drive market growth during the forecast period.

Major Trends- The use of fantasy sports for brand promotion is an emerging trend in the market.

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Some of the key Fantasy Sports Market Players:

The fantasy sports market is fragmented, and companies are deploying organic and inorganic growth strategies to compete in the market.

Blitz Studios Inc., Dream Sports, FantasyPros.com, Fantrax, Flutter Entertainment Plc, GamesKraft Technologies Pvt. Ltd., GDC Media Ltd., Head Digital Works Pvt. Ltd., i3 Interactive Inc., MyTeam11, NFL Enterprises LLC, Playerzpot Media Pvt Ltd, Premier League, Sachar Gaming Pvt. Ltd., Sorare, Techistic Online Platform Pvt. Ltd., ViacomCBS Inc., Yahoo, Fox Corp., and RealTime Fantasy Sports Inc.

Fantasy Sports Market: Segmentation Analysis

This market research report segments the fantasy sports market by product (fantasy soccer, fantasy baseball, fantasy basketball, fantasy football, and others), platform (mobile application and website), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

• The market share growth of the fantasy soccer segment will be significant during the forecast period. The most popular soccer fantasy leagues are Draft Fantasy Football, McDonald's FIFA World Cup Fantasy, Fantasy Premier League, and UEFA Champions League Fantasy Football. Players in fantasy football games form a fictional group of real-life football players to compete for prizes based on their performance on the football field. The fantasy sports website allows users to transfer as many players as they want before the season begins. Additionally, player transfer fees are based on their performance on the field and those who perform well receive higher transfer fees. Hence, these factors are expected to drive segment growth during the forecast period.

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Company Landscape

• Companies covered.
• Company classification
• Market positioning of companies
• Competitive scenario

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Table of Contents

Executive Summary

Market Landscape

Market Sizing

Historic Market Size

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Platform

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix
 

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