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The fantasy sports market size is estimated to grow at a CAGR of 6.43% between 2022 and 2027. The size of the market is forecast to increase by USD 8,162.12 million. The growth of the market depends on several factors, including the launch of various apps for fantasy sports, high internet penetration, and an increasing number of sports leagues.
This report extensively covers market segmentation 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). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The launch of various apps for fantasy sports is notably driving the market growth, although factors such as negative perceptions about fantasy sports may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Fantasy Sports Market Driver
The launch of various apps for fantasy sports is notably driving the market growth. Smartphones have enabled people to play fantasy games on their phones. Some popular low-cost smartphone models that are used for mobile gaming in India are the Xiaomi Redmi series, Samsung J series, and OPPO A series. The availability of high-end smartphones with large-screen and high-display resolutions offers an improved gaming experience.
Moreover, fantasy sports applications offer a more complete, cozy, and satisfying gaming experience. One of the most well-known fantasy sports apps is ESPN Fantasy Sports. It supports traditional sports, including fantasy baseball, basketball, football, and hockey. The same is true of Josh Clemm's fantasy football game, Draft Punk. In addition to tracking more than 1,000 players, it includes many more features and allows users to do mock draughts. Therefore, the launch of fantasy sports apps will support the market growth.
Significant Fantasy Sports Market Trend
The use of fantasy sports for brand promotion is an emerging trend in the market. Fantasy leagues are being used by several large corporations to market their goods. To give one example, Unilever debuted its Dove Men+Care fantasy football hub, which gives customers exclusive access to fantasy football tips and assistance from ESPN analysts.
Similarly, Toyota bought the ad space to sponsor the Yahoo fantasy football league summaries. In contrast, Hilton started a free-entry fantasy racing competition for hotel chain honors club members. These international corporations promote themselves through fantasy sports, mostly to reach wealthy consumers between the ages of 25 and 50. This influx of advertisers is expected to continue over the next few years and promote market growth.
Major Fantasy Sports Market Challenge
Negative perceptions about fantasy sports is the major challenge impeding the market growth. Fantasy sports are sometimes viewed as gambling by players. Many businesses have had their reputations ruined by this. Many gamers use fantasy sports as a legal alternative to gambling. All gambling activities must involve consideration, a prize, and chance, and DSF satisfies this requirement with its consideration and prize components.
Much research has revealed that fantasy sports players are more likely to develop gambling-related issues. Yet, published research has not found any evidence to support such a theory. Despite this, the negative perceptions of people regarding fantasy sports may hamper the growth of the market during the forecast period.
Key Fantasy Sports Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Fantasy Sports Market Customer Landscape
The market share growth of the fantasy soccer segment will be significant during the forecast period. In the game of fantasy soccer, players put together a fictional group of real-life soccer players to compete for a prize depending on their performance on the football field. The universal appeal of soccer drives the fantasy soccer segment. The popular soccer fantasy leagues are Draft Fantasy Football, McDonald FIFA World Cup Fantasy, Fantasy premier league, and UEFA Champions League Fantasy Football.
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The fantasy soccer segment was valued at USD 8,110.92 million in 2017 and continued to grow until 2021. Fantasy soccer players receive various facilities. Fantasy sports websites allow users to transfer their players as many times as they wish before the start of the season. The fee transfer of players depends on their performance on the field. The players performing well get higher transfer fees. The number of viewers on different media platforms, such as the Internet and mobile, is also likely to impact the growth of the segment during the forecast period.
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America is one of the fastest-growing regions in the market. In the region, vendors are offering fantasy sports games to gain a competitive advantage over traditional gaming industry players. The rising adoption of secured cloud services and advanced technologies such as 5G and artificial intelligence in gaming drives the growth of the cloud gaming market in the region. The rising penetration of smartphones, desktops, and laptops in North America is expected to drive the growth of the market during the forecast period due to better accessibility. The smartphone market in the US accounted for more than 290 million smartphone users in 2020. It has forced key vendors to develop efficient and user-friendly applications and resulted in a huge customer base.
The market for fantasy sports witnessed moderate growth, owing to the spread of COVID-19. However, in the post-COVID-19 situation, with social distancing measures in place, fantasy sports played an increasingly important role in connecting fans to their favorite sports and increasing fan engagement. Besides, high Internet penetration and a rise in the number of unique mobile subscribers, and the adoption of vaccination across the region will drive the growth of the market in North America during the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Premier League - The company offers fantasy sports such as Fantasy Cricket, Football, Kabaddi, Basketball, Baseball, Handball, Volleyball, and Hockey as its key offerings. The company also provides an e-sport platform for various sports such as kabaddi, football, volleyball, basketball, and others.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The report categorizes the global fantasy sports market as a part of the global leisure products market within the global household durables market. The parent, global leisure products market covers a variety of categories, including sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-oriented games. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Fantasy Sports Market Scope |
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Report Coverage |
Details |
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Page number |
159 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.43% |
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Market growth 2023-2027 |
USD 8,162.12 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.23 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 39% |
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Key countries |
US, Canada, Mexico, China, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
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. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Platform
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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