PUBLISHED DATE : Aug 2019 | Pages : 221
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Fantasy Sports Market Size, Share, & Trends Analysis Report By Sports (football, soccer, basketball, baseball, hockey, golf, cricket, and other fantasy sports), by Gender (male and female), and by Geography (APAC, Europe, Latin America, MEA, and North America) Global Analysis Report, Global Outlook, Market Trends, Competitive Landscape, Share, Growth Potential & Forecast, 2019 – 2024
221 Pages
43 Tables
69 Charts
5 Regions
19 Countries
31 Companies
3 Market Segment
| Report Attribute | Details |
|---|---|
| MARKET SIZE (REVENUE) | USD 1.5 BILLION (2024) |
| MARKET SIZE (USER GROSS SPENDING) | USD 62 BILLION (2024) |
| CAGR | 11% (2019-2024) |
| Base Year | 2018 |
| Forecast Year | 2019-2024 |
| Market Segments | By Sports (football, soccer, basketball, baseball, hockey, golf, cricket, and other fantasy sports), by Gender (male and female) |
| Geographic Analysis | APAC, Europe, Latin America, MEA, and North America |
| Countries Covered | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, UAE, UK, and US |
Fantasy sports is expected to receive a major boost due to the growing popularity of digital and OTT platforms
Fantasy sports market size will reach USD 1.5 billion by 2024, growing at CAGR of 11% during 2018-2024. A major factor driving the fantasy sports market growth is the rise in the number of sports betting worldwide. The urge to participate in a game event rather than viewing it has raised the bar of the industry significantly. Technological advancements, coupled with the availability of streaming partners, are further driving the global fantasy sports market growth.
Fantasy leagues have grown in prominence in the last few years, and the user-based segment has witnessed considerable growth. Aggressive advertising and marketing campaigns, growth in games and events are the major factors that are supporting the growth during the forecast period.
OTT (Over-the-Top) platforms are likely to generate significant revenue opportunities for the games and entertainment industry. The growing popularity of OTT platforms is expected to augur well for the fantasy sports segment. The OTT games experience is set to observe innovation, which is mainly driven by the fantasy sports industry. With the growth in streaming service providers and digitalization, the fantasy games segment is expected to receive a major boost.
Increased influence of social media and utilization of blockchain technology are expected to increase the fantasy football market share during the forecast period.
This research report includes a detailed segmentation by
The introduction of new leagues and tournaments is expected to push the demand for increased fan engagement via sports competitions models
The worldwide popularity of football leagues is a major reason for the highest share of the fantasy football segment. The segment captured around half of the market in 2018. The extensive fan engagement is another major factor that is driving the fantasy football market segment. Also, the presence of DFS platforms such as PlayOn, DraftKings, and MoneyBall is a key factor for the increasing demand for fantasy game models.
Also, the introduction of new baseball leagues and tournaments in the sports arena is expected to push the demand for more fan engagement. Strategic partnerships and the launch of supporting products across platforms have contributed to the incremental growth in the fantasy sports market value. Latin America, APAC, Europe and North America are likely to offer increased growth opportunities for the market.
Basketball has remained massively popular in the world, particularly in the US. Strategic partnerships and the launch of supporting products across platforms have raised the standards of fantasy basketball in major playing countries.
The growing awareness of games among womenfolk is boosting the female sports segment
As men have historically been receptive to athletics and outdoor games, the male segment accounts for the highest share in the fantasy sports market by gender. The high prevalence of male-centric tournaments is one of the major reasons for the high percentage of the male segment. Further, the urge to score well and maintain a healthy competitive spirit with their peers tends to drive the demand among male users.
However, over the last few years, the female population in fantasy games has witnessed a reasonable surge. The growing number of women-centric events and the increasing awareness about games among womenfolk are boosting the female sports market growth. Further, the increased support from business entities acts as a catalyst for increasing female participation in games and events. With these games becoming more gender-neutral and inclusive, female attraction toward the games is experiencing a sharp rise.
Technological advancements backed by strategic partnerships are expected to increase the industry value in the US.
The growing affinity toward sports business and the increase in tech-savvy customers have contributed to the incremental growth of the industry in North America. Several states in the US - have legalized sports betting and the DFS format, which is likely to boost the US market during the forecast period. Further, with the ease in regulation across the US, technological advancements backed by strategic partnerships are expected to increase the market value in the US.
The rising inclination toward diverse sporting categories and the influx of global vendors with innovative offerings are driving the growth in the European region. The region is home to several clubs such as soccer, basketball, hockey, and cricket. The advent of the DFS model has increased the demand for average fantasy games and competitions.
The APAC region, on the other hand, is emerging as a potential market. The market is witnessing and surge in India, China and Japan due to the growing digitization, and the rising number of sporting events.
The global market is currently undergoing several transformations from being consolidated to fragmented. Vendors catering the market have a vast range of opportunities to capitalize upon. They are also focusing to maintain certain basic fan requirements such as security, transparency, interactive user interface, and technological leverages. Vendors are looking forward to expanding in new regions and countries, depending upon demand growth and trying to utilize maximum digital fan-centric content creation.
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