Fantasy Sports Market

The Future of Fantasy Sports: A Market Analysis

The fantasy sports market is set to experience significant growth, with projections estimating a market size of USD 56.36 billion by 2030. This represents a Compound Annual Growth Rate (CAGR) of 14.1% from 2023 to 2030, as reported by Grand View Research, Inc. The surge in demand for fantasy sports can be attributed to improved internet connectivity and the rise in smartphone ownership, which facilitates user engagement. In the world of fantasy sports, users create virtual teams comprising real players from professional sports.

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The performance of these virtual teams is based on the actual performance of the players, enabling service providers’ analytical servers to predict user wins and losses.

Key Insights from the Report:

Team sports held the largest revenue share in 2022 in the global fantasy sports market, driven by the global popularity of major team sporting events such as the FIFA World Cup and Cricket World Cup. Users make predictions about which teams are more likely to win, leveraging their understanding of the rules, terms, and analysis of these sports.

In terms of sports type, football accounted for the largest market share in 2022. The widespread popularity of fantasy football, coupled with the platform’s addictive nature and the ease of managing one’s own team, has contributed to this dominance.

The application-based platform segment is expected to expand at the fastest CAGR over the forecast period. Fantasy sports applications offer the convenience of participating in fantasy tournaments from anywhere.

The European market is experiencing moderate growth due to the presence of several major leagues, run by large corporations such as Barclays, Hublot, and Nike. These corporations have played a significant role in popularizing the concept of fantasy sports in the region.

Growth & Trends in the Fantasy Sports Market

Fantasy sports operators are exploring opportunities to enhance their contribution to the sports industry. Establishing a digital footprint allows operators to create future-ready jobs in fields such as artificial intelligence, machine learning, and analytics, thereby contributing to the expansion of the sports industry. Operators are also investing heavily in sports infrastructure, supporting the adoption of regional sports, and increasing the viewership of regional sports leagues and tournaments.

The substantial growth in the market has sparked interest among the media, leading to the creation of various YouTube channels, vlogs, TV shows, newspaper columns, blogs, and forums where experts analyze player and team performance and predict upcoming trends. Key players are acquiring significant market shares and a larger user base. The industry also provides opportunities for new companies to grow in the market due to its vast potential.

North America contributes the highest revenue for fantasy sports operators, thanks to the availability of the latest technologies such as blockchain and artificial intelligence, which provide a more immersive experience and drive popularity in the region. The Asia Pacific region is witnessing exponential market growth due to a surge in the user base in economies such as India. The popularity of cricket and football, along with various leagues such as IPL, ISL, and others, are contributing to the expansion of the market in India and the region.

Key Players in the Fantasy Sports Market

Dream Sports Group, CBS Sports Digital Real, Time Fantasy Sports Inc., Flutter Entertainment plc, Vauntek Inc. (Fantrax), DraftKings Pure Win (Sweetspot N.V.),  FanDuel Fantasy,,  MY11CIRCLE FANTACALCIO (Quandronica Srl), RotoWire (GDC Media Limited), NBC Sports Edge (NBC Sports Group), MyFantasyLeague (Sideline Software Inc.) and Office Football Pool (OFP Hosting Inc.)

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