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The report provides an extensive analysis of the current and emerging Asia-Pacific & Canada fantasy sports market trends and opportunities.
Asia-Pacific & Canada fantasy sports market size was valued at $2,021.9 million in 2019, and is projected to reach $3,739.8 million by 2027, growing at a CAGR of 10.7% from 2021 to 2027.” - Allied Market ResearchWILMINGTON, DE, UNITED STATES, December 27, 2024 /EINPresswire / -- Asia-Pacific & Canada fantasy sports market size was valued at $2,021.9 million in 2019, and is projected to reach $3,739.8 million by 2027, growing at a CAGR of 10.7% from 2021 to 2027 sports allow users to create virtual teams of real players and compete based on their statistical performance in actual games. The market covers various sports, including cricket, soccer, basketball, baseball, and others.
Key Market Insights:
Sports Covered:
Cricket: The most popular fantasy sport in Asia-Pacific, particularly in countries like India and Australia, where cricket enjoys a massive fan base.
Soccer/Football: Growing popularity across both Asia-Pacific and Canada, driven by major leagues like the English Premier League (EPL), UEFA Champions League, and domestic leagues.
Basketball: Supported by the rising interest in leagues like the NBA, with significant traction in countries like China and the Philippines.
Baseball: Particularly popular in Japan and Canada, driven by leagues like Major League Baseball (MLB).
Other Sports: Include hockey, kabaddi, rugby, and esports, depending on regional preferences.
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Market Trends and Growth Drivers:
Increased Internet and Smartphone Penetration: The growth in internet connectivity and smartphone users across Asia-Pacific and Canada is one of the primary drivers of the fantasy sports market.
Rising Popularity of Sports Leagues: The popularity of various sports leagues has increased user engagement in fantasy sports platforms.
Integration with Social Media: Fantasy sports platforms increasingly integrate with social media to enhance user engagement and expand their reach.
Technological Advancements: Innovations like artificial intelligence, data analytics, and machine learning are being integrated into fantasy sports apps to provide a more personalized experience.
Rise in Investments and Sponsorships: Increased investments by gaming companies and sponsorships from major sports leagues are propelling the market forward.
Challenges:
Regulatory and Legal Issues: Fantasy sports face regulatory scrutiny in some regions, with concerns over legality and classification as a game of skill or chance.
Market Saturation: While there is room for growth, the entry of numerous platforms has led to intense competition, particularly in mature markets like India.
Data Privacy Concerns: With the rise of digital platforms, ensuring data security and privacy for users has become a significant challenge.
Key Players in the Market:
Dream11 (India)
MPL (Mobile Premier League)
MyTeam11
FanCode
DraftKings Inc. (Canada)
FanDuel (Canada)
SuperDraft (Canada)
11Wickets (Asia-Pacific)
Regional Insights:
India: Dominates the Asia-Pacific market with cricket being the primary focus, supported by the Indian Premier League (IPL) and a large fan base.
Australia: Strong presence in cricket and soccer fantasy sports, with a growing interest in rugby leagues.
China: The market for basketball and soccer fantasy leagues is expanding due to the country's large fan base for these sports.
Japan: Fantasy sports in baseball are gaining traction, supported by the popularity of Nippon Professional Baseball (NPB) and MLB.
Canada: A mature market with well-established platforms like DraftKings and FanDuel, focusing on sports like hockey, football, and basketball.
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Growth Prospects:
Esports Fantasy Leagues: With the rise of competitive gaming in the Asia-Pacific region, fantasy esports is gaining popularity, especially among younger audiences.
Regional Expansion: Fantasy sports operators are expanding their reach to untapped regions in Asia-Pacific and enhancing their offerings for localized sports.
Partnerships with Sports Leagues: Collaborations with leagues and teams are expected to enhance user engagement and increase market penetration.
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David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.