FANTASY SPORTS INDUSTRY OVERVIEW
The global fantasy sports market size to cross USD 2 billion in 2026, growing at a CAGR of 14% during the forecast period. Digitalization is an essential factor that is driving the growth of the fantasy sports market. Consumers are currently connected with the outer world via digital mediums. An increase in smartphone use is a significant factor influencing the market across the globe. The global vendors prefer selling products/services via apps and online websites. The COVID-19 outbreak has led to the rapid growth in the number of gamers. Online gaming platforms have become one of the most used mediums for entertainment during lockdowns and restrictions. With respect to COVID-19 regulations, real-time sports events have witnessed a halt for few months, which affected the market negatively. However, vendors have come out with new versions, which boost engagements among audiences and provide the experience of leagues and clubs. Daily fantasy sports (DFS) have pushed vendors to focus on this attractive sports segment that draws large audiences. With more than 60 million players/users currently active in the US, the DFS model sets to grow significantly during the forecast period. Also, technological advances such as the combination of analytics and blockchain could completely disrupt the way the industry operates. With advertising monitoring, digital spending, technical upgrades, and online customer surveys growing, the fantasy sports market share is likely to observe promising growth during the forecast period.
- The female segment is likely to witness an incremental growth of USD 255 million in North America due to the increasing awareness of fantasy sports among females via social media.
- The global fantasy football market expects to grow at a CAGR of over 14% from 2020 to 2026.
- The global fantasy soccer market expects to reach a revenue share of approx. USD 489 million by 2026, owing to the high popularity of the game in Europe, APAC, and Latin America.
- The application-based segment is likely to account for over USD 1.3 billion by 2026 due to the high penetration of smartphones.
- North America expects to reach a revenue of over USD 1.5 billion by 2026 owing to the high popularity of several sports in the region.
GLOBAL FANTASY SPORTS MARKET SEGMENTATION
This research report includes a detailed segmentation by
- Fantasy Sports
INSIGHTS BY FANTASY SPORTS
The global fantasy football industry worth is expected to cross over $1 billion by 2026. Over 70% of players engage in contests in North America. Fantasy sports have raised the popularity of football considerably over the past few years. Although many experts believe that the sport has been widely popular before the arrival of fantasy sports, its popularity has touched new heights with the growing popularity of fantasy sports. Vendors can consider targeting the large fan base in the segment via interactive and innovative offerings, thereby maximizing their profits significantly.
The global fantasy soccer market is likely to grow at a CAGR of over 13% during 2020–2026. Soccer is more prevalent in Europe than in North America, with Latin America and APAC following the suit. These regions observe the high popularity of these sports and are directly influencing the soccer games market. Another significant factor contributing to the growth of soccer is the increasing women's participation in these tournaments. Like any other sports, soccer has remained a male-dominated one; however, increased female participation in sporting events promotes the game.
INSIGHTS BY GENDER
The global fantasy sports market is a male-dominated industry, and the male segment expects to grow at a CAGR of 14% from 2020 to 2026. North America accounts for the largest share of the male component, which is likely to witness an incremental revenue of over USD 589 million during the forecast period. Although slowly, considerable transformations have taken place, the substantial prevalence of male users of fantasy sports is to stay for some time. With more than 60% of male users active on daily fantasy sports platforms across the US, the prospects for this end-user segment remain highly optimistic.
The female segment is witnessing growth with the increasing awareness and interest in online gaming. The APAC female segment expects to reach approx. USD 72 million in 2026, growing at a CAGR of approx. 14%. The rise in easy application-based user experience is likely to boost the female segment across the region, with Europe expecting to witness an approximate incremental revenue of USD 94 million between 2020 and 2026.
INSIGHTS BY PLATFORM
The application-based fantasy sports market share expects to grow at a CAGR of 14%, recording an absolute growth of over 119% from 2020 to 2026. Application-based fantasy sports are increasing across the regions with the increasing penetration of smartphones and easy accessibility of application-based online games. North America is likely to observe an incremental revenue of USD 484 million between 2020 and 2026. APAC expects to reach over USD 60 million by 2026, growing at a CAGR of approx.14%.
The website-based market has a large customer base in North America, where the segment is likely to reach over USD 659 million by 2026, growing at a CAGR of over 14% between 2020 and 2026. On the other hand, APAC is likely to observe an incremental revenue of over USD 32 million between 2020 and 2026. The increasing popularity and acceptance of competitive gaming have attracted more hardcore PC users. Computer and laptop manufacturers are driven to offer the latest high-performance processors and graphics cards for customization.
INSIGHTS BY GEOGRAPHY
In 2020, North America was the most prominent fantasy sports market, accounting for a share of over 68% in terms of revenue. The demand for fantasy sports contests remains all-time high in the US and Canada. North America is likely to account for over 69% in terms of revenue in 2026 due to the growing affinity toward the fantasy sports business and an increase in tech-savvy customers during the forecast period. Europe accounted for over 16% share in terms of revenue in 2020. Germany, the UK, France, Italy, and Spain are the major revenue contributors in Europe. While the demand for fantasy sports is growing, upgrades and innovative offerings drive market growth.
Western European economies are displaying strong demand owing to the rising inclination toward diverse sports categories and an influx of global vendors. Europe is likely to account for an incremental revenue of over $196 million between 2020 and 2026. In 2020, the APAC region accounted for over 10% share in terms of revenue. Australia, India, China, South Korea, Indonesia, and Japan are witnessing high demand for fantasy sports. Although the market is still at a growing stage in the region, it has a high potential backed by the growing millennial population and ardent sports fans looking for exciting products.
INSIGHTS BY VENDORS
Yahoo and ESPN have traditionally been prominent vendors; however, the market is currently dominated by DraftKings and FanDuel, especially in the North American region. While major vendors such as FanDuel, DraftKings, Yahoo, ESPN, and CBS are the primary revenue generators, other vendors such as PlayOn, FanTrax, StarsDraft, Dream11, and Sportito are striving hard to gain better market opportunities in the future years. Innovative offerings hold significant importance in the industry. Catering to the audience and fans with some of the service offerings dedicated completely toward ensuring their maximum engagement is the key to growth within the market.
The global fantasy sports market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
- North America
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa