Fantasy Sports Market: An Overview

Fantasy sports refer to online games where participants draft and manage virtual teams of real-world athletes. Fantasy sports platforms enable users to pick players, compete against others and win based on real-time sports statistics and scoring.

The fantasy sports market is projected to grow from USD 28.7 Billion in 2023 to USD 84.9 Billion by 2032

Key Segments of the Fantasy Sports Market

The fantasy sports market is segmented on the basis of sport type, platform type, end-use and region:

By Sport Type

• Football held the largest share, accounting for over 30% of the global market in 2021. Most popular fantasy sport with massive global following.
• Fantasy basketball is the second most popular segment, driven by NBA popularity.
• Fantasy baseball, hockey and cricket are other key sport segments witnessing growth.

By Platform Type

• Website-based fantasy sports platforms held the largest share in 2021. Allow easy access through PCs and laptops.
• Mobile app-based gaming is expected to expand at the fastest CAGR during the forecast period owing to rising smartphone adoption.

By End Use

• Individual users are the largest and fastest growing end-use segment. Casual users are drawn by incentives and cash prizes.
• Commercial end-use by brands for marketing and employee engagement also driving adoption.

By Region

• North America accounted for the biggest market share in 2021, driven by high penetration in the U.S.
• Asia Pacific is forecast to grow at an accelerated CAGR during 2022-2030, fueled by untapped opportunities in India.
• Europe is another major market witnessing rising participation in fantasy football and other sports.

Major Companies Offering Fantasy Sports Platforms

Top vendors in the global fantasy sports market include:

• DraftKings: Leading DFS and betting platform, offers fantasy contests across 20 sports.
• FanDuel: Provides fantasy leagues, sports betting and online casino games. Owned by Flutter Entertainment.
• Yahoo Fantasy Sports: Allows users to create public/private leagues and offers daily fantasy contests.
• ESPN Fantasy: Features free and paid fantasy leagues for major sports including football, basketball, baseball etc.
• CBS Sports: Operates flagship fantasy products for NFL football, NBA basketball, MLB baseball etc.
• MyFab11: India's first fantasy cricket platform with over 10 million users.

Key Market Drivers for Fantasy Sports

• Rising internet and smartphone penetration across the globe driving adoption and access.
• Fantasy sports platforms invest heavily in advertising and marketing to gain users through promotions.
• Legalization of online fantasy sports and betting in countries like India, Brazil etc opening up opportunities.
• Use of analytics, AI and ML to enhance user experience and interface.
• Fantasy sports help attract and engage younger demographics, appealing to brands.
• Advances in live streaming and real-time stats enable innovations in fantasy sports gaming.
• Cash prizes and rewards act as incentives for users to actively participate.
• COVID-19 pandemic provided boost to fantasy sports due to lack of live matches and events.

Regional Insights

North America leads with sizable markets in U.S. and Canada where fantasy sports are part of mainstream culture. Asia Pacific is the emerging high growth region where India, China and Australia are key countries. Europe and Latin America offer untapped potential for growth in fantasy sports participation.

Browse In-depth Market Research Report (128 Pages, Charts, Tables, Figures) on Fantasy Sports Market -
https://www.marketresearchfuture.com/reports/fantasy-sports-market-11539

Recent News and Developments

• FanDuel announcing partnership with YouTube personality Jimmy Donaldson aka MrBeast for branded fantasy and sports betting contests.
• DraftKings becoming the official daily fantasy partner of the NFL to deepen engagement with football fans.
• Dream11 launching sports metaverse called Cricverse to boost user engagement through virtual reality and augmented reality.
• Mobile Premier League raising $150 million funding to expand presence across India and the U.S.

The fantasy sports market is poised for robust growth fueled by increasing adoption across geographies and demographics. Key players are focusing on differentiated platforms, localized content, brand partnerships and exploring emerging segments like NFTs and the metaverse to drive future growth.