The fantasy sports market size is expected to reach more than $1.5 billion by 2024, growing at a CAGR of more than11% during 2022–2031.
Increasing strategic collaborations and partnerships with diverse stakeholders, growing advertising and marketing spend, and rising interest of millennial are the major factors responsible for the increased growth of the fantasy sports market.
A major factor driving the growth of the fantasy sports business is the rise in the number of sporting events organized worldwide. The urge to participate in a sport event rather than view it has raised the bar of the market significantly. Technological advancements, coupled with the availability of streaming partners, are further driving the fantasy sports market.
The growing popularity of OTT platforms is expected to augur well for the fantasy sport segment. The OTT sports experience is set to observe innovation, which is mainly driven by fantasy sport business. Fantasy sport and OTT platforms have become an apt match for the overall entertainment business. With the growth in streaming service providers and digitalization, fantasy sport is expected to receive a major boost.
This research report on the fantasy sports market covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study includes insights on segmentation by sports (football, soccer, basketball, baseball, hockey, golf, cricket, and other fantasy sports), gender (male and female), and geography (North America, APAC, Europe, Latin America, and MEA).
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The study considers the present scenario of the fantasy sports market and its market dynamics for the period 2018−2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and examines leading companies and other prominent companies operating in the market.
Fantasy Sports Market: Segmentation
This market research report includes a detailed segmentation of the market by sports, gender, and geography. The worldwide popularity of football is a major reason for the highest share of the fantasy football segment. The segment captured around half of the fantasy sports market in 2018. The extensive fan engagement is another a major factor that is driving the fantasy football market segment. Strategic partnerships and the launch of supporting products across fantasy platforms have raised the standards of fantasy basketball in major playing countries.
As men have historically been receptive to sports and outdoor games, the male segment accounts for the highest share in the fantasy sports market by gender. However, over the last few years, the female population in fantasy sport has witnessed a reasonable surge. The growing number of women-centric sports events and the increasing awareness about games among womenfolk are the factors boosting market growth of female sports segment.
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Market Segmentation by Sports
• Other fantasy sports
Market Segmentation by Gender
Fantasy Sports Market: Geography
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 – Arkansas, Colorado, Indiana, Maryland, Massachusetts, Missouri, New York, Virginia, and Vermont – have legalized the DFS format, which is likely to boost the sports in the US during the forecast period. Further, with the ease in regulation across the US, technological advancements backed by strategic partnerships are expected to increase the fantasy sports market value in the US.
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