Fantasy Sports Market size is set to grow by USD 9.72 billion from 2024-2028, Launch of various apps for fantasy sports boost the market, Technavio

NEW YORK, July 19, 2024 /PRNewswire/ — The global fantasy sports market size is estimated to grow by USD 9.72 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  7.05%  during the forecast period. Launch of various apps for fantasy sports is driving market growth, with a trend towards use of fantasy sports for brand promotion. However, uncertain future of fantasy sports and ill effects of gaming on health  poses a challenge. Key market players include APKMozo.com, Blitz Studios Inc., Dream Sports, FantasyPros.com, Fantrax, Flutter Entertainment Plc, Fox Corp., GamesKraft Technologies Pvt. Ltd., GDC Media Ltd., Head Digital Works Pvt. Ltd., i3 Interactive Inc., MyTeam11, NFL Enterprises LLC, Paramount Global, Playerzpot Media Pvt Ltd, Premier League Ltd., RealTime Fantasy Sports Inc., Sachar Gaming Pvt. Ltd., Sorare, and Yahoo.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Fantasy Sports Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.05%

Market growth 2024-2028

USD 9.72 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.76

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 37%

Key countries

US, Canada, Mexico, China, and UK

Key companies profiled

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

 

Market Driver

Many prominent brands have adopted fantasy sports as a marketing strategy. Unilever’s Dove Men+Care launched a fantasy football hub, offering exclusive football advice from ESPN analysts to consumers. Toyota sponsors Yahoo fantasy football league recaps, while Hilton provides free-entry fantasy racing contests for hotel honors club members. Brands target high-income customers aged 25 to 50 through this platform. This trend is anticipated to persist, contributing significantly to the expansion of the global fantasy sports market in the coming years. 

The Fantasy Sports Market is experiencing significant growth, with popular sports leagues and tournaments like the NFL, Premier League, IPL, and more driving fan engagement. Fantasy sports platforms are thriving in the online gaming sector, thanks to high-speed internet and mobile applications. Football, baseball, basketball, hockey, cricket, and other sports are all represented in this industry. User interfaces and social interaction are key features, with daily fantasy contests, virtual trading, and gameplay at the heart of the experience. The market is also exploring trends like eSports, virtual reality (VR), and augmented reality (AR). Secure payment methods are essential for fantasy sports platforms, with blockchain-based apps and one-time payments becoming increasingly popular. Freemium models, in-app purchases, advertising, and premium subscriptions are common revenue streams. However, the industry faces challenges, including illegal sports betting and online gambling. NFT-based games, like Reignmakers and Fantasy Football, are emerging trends in this space. Sports like soccer, FIFA, badminton, and football (rugby) are also gaining traction. The market is continually evolving, with new technologies and trends shaping its future. 

Discover 360° analysis of this market. For complete information, schedule your consultation – Book Here!

Market Challenges

  • The fantasy sports market experiences constant fluctuations, with companies like FanDuel and DraftKings rising to billion-dollar revenues, despite initial obscurity. However, their business models faced legal challenges in 2015 due to gambling concerns. Consumer protection became a priority, impacting market growth. Gaming addiction leads to health issues, such as carpal tunnel syndrome, headaches, migraines, sleep disturbances, chronic back pain, and unhealthy eating patterns contributing to childhood obesity. Increasing awareness of these health risks is causing some gamers to limit their participation, negatively affecting the fantasy sports market’s growth during the forecast period.
  • The Fantasy Sports Market encompasses various challenges in the mobile application sector, including Football, Baseball, Basketball, Hockey, Cricket, and more. Platforms like Reignmakers and NFT-based games are revolutionizing the industry with Virtual Reality (VR) and Augmented Reality (AR) technology. The Online Gaming Business thrives in secure payment methods, utilizing Blockchain-based apps and Fantasy chatbots. Illegal sports betting and online gambling pose challenges, but One Time Payment and Freemium models offer solutions. Internet penetration drives growth in Sports Tech, employing Software engineers, Data scientists, and Cyber security professionals. Sports viewership increases with Sponsorships and Online sports gambling on mobile devices and the Internet. Pay-per-download, Subscription services, and In-app advertisements generate revenue. Sensor Tower data reveals trends in this dynamic market.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This fantasy sports market report extensively covers market segmentation by  

  1. Product 
  • 1.1 Fantasy soccer
  • 1.2 Fantasy baseball
  • 1.3 Fantasy basketball
  • 1.4 Fantasy football
  • 1.5 Others
  • Platform 
    • 2.1 Mobile application
    • 2.2 Website
  • Geography 
    • 3.1 North America
    • 3.2 Europe
    • 3.3 APAC
    • 3.4 South America
    • 3.5 Middle East and Africa

    1.1 Fantasy soccer-  Fantasy soccer is a popular game where participants build teams of real-life soccer players and earn points based on their on-field statistics. This game includes eleven players in four positions. Soccer’s global appeal fuels the fantasy soccer market’s growth. Notable leagues include Draft Fantasy Football, McDonald’s FIFA World Cup Fantasy, Fantasy Premier League, and UEFA Champions League Fantasy Football. The market’s expansion is anticipated to increase during the forecast period due to benefits like unlimited pre-season transfers, capped in-season transfers, and variable transfer fees based on player performance. The growing number of viewers on digital platforms is also a positive factor.

    For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

    Learn and explore more about Technavio’s in-depth research reports

    The global sports tourism market is witnessing significant growth driven by increasing fan engagement and major sporting events. Simultaneously, the sports betting market is expanding rapidly due to the legalization of sports betting in various regions and advancements in digital platforms. The sports sponsorship market is also thriving, with brands leveraging high-profile sports events to enhance visibility and consumer engagement. Together, these markets are transforming the sports industry, creating new opportunities for stakeholders and driving substantial economic impact globally.

    Research Analysis

    The Fantasy Sports Market is a thriving online gaming business that allows fans to engage with their favorite sports leagues and teams in a unique way. With the increasing popularity of the NFL, Premier League, IPL, and other global tournaments, the market for fantasy sports is experiencing exponential growth. High-speed internet and smartphones have made it easier than ever to access fantasy sports platforms and participate in real-time. Fantasy sports platforms offer secure payment methods, ensuring a safe and enjoyable experience for users. The latest innovations include blockchain-based apps and fantasy chatbots, providing enhanced security and convenience. However, the industry also faces challenges such as illegal sports betting and the need to comply with regulations. Sports Tech companies are at the forefront of developing new software and hiring software engineers and data scientists to analyze player statistics and create accurate projections. With the increasing internet penetration in emerging markets, the fantasy sports market is poised for even greater expansion. Baseball, Cricket, Football (rugby), and Volleyball are just a few of the many sports that have a dedicated fan base in the fantasy sports community.

    Market Research Overview

    Fantasy sports markets have seen explosive growth in recent years, fueled by the popularity of sports leagues and tournaments across the NFL, Premier League, IPL, and more. Fans engage with fantasy sports platforms through high-speed internet and online gaming, enjoying gameplay on user-friendly interfaces that offer social interaction and daily fantasy contests. Virtual trading in football, baseball, basketball, hockey, cricket, and other sports is a major draw, with mobile applications and virtual reality (VR) and augmented reality (AR) experiences adding to the excitement. The online gaming business is booming, with secure payment methods and blockchain-based apps ensuring safety and transparency. NFT-based games like Reignmakers and Fantasy Football are also gaining traction. However, illegal sports betting and online gambling pose challenges, with one-time payment, freemium, website, in-app purchases, advertising, and premium subscriptions all part of the business model. Sports tech companies employ software engineers, data scientists, and cyber security professionals to develop innovative solutions, while badminton, football (rugby), volleyball, and other sports also have their dedicated fan bases. Internet penetration and sports viewership continue to drive growth, with sponsorships and online sports gambling adding revenue streams. Mobile devices and the internet are essential tools for accessing these services, with pay-per-download, subscription services, and in-app advertisements providing additional revenue opportunities. Sensor Tower reports that the mobile application sector is a key driver of growth in the fantasy sports market.

    Table of Contents:

    1 Executive Summary
    2 Market Landscape
    3 Market Sizing
    4 Historic Market Size
    5 Five Forces Analysis
    6 Market Segmentation

    • Product
      • Fantasy Soccer
      • Fantasy Baseball
      • Fantasy Basketball
      • Fantasy Football
      • Others
    • Platform
      • Mobile Application
      • Website
    • Geography
      • North America
      • Europe
      • APAC
      • South America
      • Middle East And Africa

    7 Customer Landscape
    8 Geographic Landscape
    9 Drivers, Challenges, and Trends
    10 Company Landscape
    11 Company Analysis
    12 Appendix

    About Technavio

    Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

    With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

    Contacts

    Technavio Research
    Jesse Maida
    Media & Marketing Executive
    US: +1 844 364 1100
    UK: +44 203 893 3200
    Email: media@technavio.com
    Website: www.technavio.com/

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/fantasy-sports-market-size-is-set-to-grow-by-usd-9-72-billion-from-2024-2028–launch-of-various-apps-for-fantasy-sports-boost-the-market-technavio-302200664.html

    SOURCE Technavio

    error: Content is protected !!