Fantasy Sports Market Size Forecast To 2030

(MENAFN- Straits Research) Introduction

The term "fantasy sports" refers to online game platforms where participants manage and select virtual teams of real professional athletes. Users play against one another's fantasy teams throughout an entire sports league or season. Users with the highest point totals receive money depending on the performance of actual professional athletes.

The rapidly transforming online gaming industry places a substantial emphasis on deploying technologies for enhanced and more efficient operations. With the introduction of secure payment channels, a user-friendly interface, blockchain-based applications, and fantasy chatbots, the fantasy sports industry has experienced significant revenue generation, customer satisfaction, and operational efficiency. Adopting such technologies is anticipated to continue to provide fantasy sports market participants with profitable opportunities to manage users and essential operations better.

Market Dynamics Expansion of Digital Infrastructure in Addition to Falling Data Prices to Drive Global Fantasy Sports Market

The industry for fantasy sports has experienced an enormous expansion in recent years. The proliferation of digital infrastructure in the emerging region is the most critical factor in rapid market expansion. The number of Internet customers in India increased from 560 million in September 2018 to 639 million by December 2020. This essentially equates to a total increase of 14%. Moreover, average data usage per subscriber has increased dramatically due to the widespread availability of inexpensive smartphones and the steep decline in data rates across the country.

Similarly, as of March 2020, the number of internet users in China had reached 900 million, an increase of 75 million from the end of 2018. China and India have the most internet users, and their numbers are expanding rapidly. Moreover, the average monthly data usage in India exceeds 11 GB, while in China, it exceeds 7 GB. The average data usage in India is anticipated to quadruple by 2025's end. This rise in digital infrastructure and the availability of high-speed internet at cheap costs contribute to expanding the region's fantasy sports business.

The rapidly developing online gaming sector emphasizes adopting technologies for more effective and efficient operations. With the introduction of secure payment methods, a user-friendly interface, blockchain-based applications, and fantasy chatbots, the fantasy sports sector has made enormous strides in revenue creation, customer satisfaction, and operational efficiency. Adopting such technology will continue to provide attractive prospects for fantasy sports market participants to better manage users and core operations.

Regional Insights

By region, the global fantasy sports market is analyzed across North America, Europe, and the Rest of the World. North America was the highest revenue contributor and is estimated to grow at a CAGR of 10.3% during the forecast period. The fantasy sports market in the United States, Canada, and Mexico is analyzed. In terms of GDP and macroeconomic parameters, the United States has the largest economy in the world. Canada, on the other hand, has a high-tech industrial economy. The market in North America remains moderately concentrated, with FanDuel and DraftKing dominating the region's market share. The expansion of the fantasy sports sector has attracted significant media organizations to the region. Large media organizations are cooperating with platforms to improve promotions and advertising. In addition, substantial capital expenditures from various investment firms, including sports clubs and broadcasters, and strong marketing efforts focusing on high cash awards have contributed to the region's rapid market growth.

Europe is the second largest region. It is estimated to reach an expected USD 13890 billion by 2030, growing at a CAGR of 15.8% during the forecast period. New players have emerged in Europe, particularly on the fantasy cricket and fantasy football platforms. Contests on fantasy sports platforms in the region have gained traction due to the entry of new players with broader product offers, interactive applications, and substantial cash prizes. In addition, European fantasy sports providers are forming partnerships with local sports betting organizations to increase their market share and target demographic. New players have emerged in Europe, particularly on the fantasy cricket and fantasy football platforms. Contests on fantasy sports platforms in the region have gained traction due to the entry of new players with broader product offers, interactive applications, and substantial cash prizes. In addition, European fantasy sports providers are forming partnerships with local sports betting organizations to increase their market share and target demographic.

The rest of the world's analysis includes India, Australia, Brazil, Africa, and other nations. These are predominantly developing nations with rapidly expanding digital infrastructure. In the region, the amount of Internet subscribers has grown dramatically. Additionally, average data usage per subscriber has increased significantly due to the accessibility of inexpensive cell phones. Consequently, nations such as India and Brazil are anticipated to experience rapid market expansion in the future years. b The sports fantasy industry has experienced fast growth over the past few years, aided by content aggregators, sports scoring platforms, sports merchandise, online sports streaming, and digital payment systems. The Indian Premier Competition (IPL) is a highly popular league in the region, with fantasy sports platforms such as Mobile Premier League, Dream11, and MyTeam11 capitalizing on its popularity to extend its market presence.

Key Highlights

• The global fantasy market was valued at USD 24 billion in 2021 and is estimated to reach an expected value of USD 78.5 billion by 2030, growing at a CAGR of 14% during the forecast period (2022 – 2030).
• By sports type, the global fantasy sports market is classified into football, baseball, basketball, hockey, cricket, and others. The football segment was the highest contributor and is anticipated to grow at a CAGR of 14.9% during the forecast period.
  
• By platform, the global fantasy sports market is bifurcated into website and mobile applications. The mobile application was the highest contributor and is anticipated to grow at a CAGR of 15% during the forecast period.
  
• By demographics, the global fantasy sports market is divided into Under 25 Years, 25 to 40 Years, and Above 40 Years. 25-40 Years was the highest contributor and is anticipated to grow at a CAGR of 14% during the forecast period.