Press release
Asia-Pacific and Canada Fantasy Sports Market Size is expected to reach $ 3,739.8 Million by 2027
According to a new report published by Allied Market Research, entitled, "Asia-Pacific & Canada Fantasy Sports Market by Sport, Platform and Demographics: Regional Opportunity Analysis and Industry Forecast, 2021-2027," Asia-Pacific & Canada Fantasy Sports Market Size is Rated 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. Fantasy sports are played using internet where participants manage virtual teams of real professional sports players and essay.
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In addition, an increase in spending on advertising and marketing methodologies to promote fantasy sports in particular contributes to the growth of the industry in terms of value sales. However, the outbreak of the COVID-19 pandemic has negatively disrupted the world market with leagues and tournaments either postponed or moved to last month of 2020 or to the next year, i.e. 2021. The postponement of sporting events has led to significant losses of stakeholders involved. On the contrary, with the resumption of sports activities in the last quarter of this year, the market is expected to recover gradually; however, it is projected that a major recovery will be seen from 2021.
Fantasy sports market in Asia-Pacific and Canada is divided into sport, platform, demographics and country. According to sport, the market is categorized into football, baseball, basketball, hockey, cricket and others. Based on the platform, it is divided into website and mobile application. Depending on demographics, it is differentiated into under 25 years, 25-40 years and over 40 years. Nationwide, the market is analyzed across Canada, Australia, Singapore and the Philippines.
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Depending on demographics, the segment under 25-40 years was the largest contributor to the market in 2019 and is expected to remain dominant through 2021-2027. This is due to the growing interest of this age group in online games which is also the trend of fantasy sports among this age group. However, the segment under 25 is expected to show significant CAGR in the coming years.
Based on sports, the basketball segment dominated the Asia-Pacific and Canada fantasy sports market share in 2019, and this trend is expected to continue during the forecast period. This is due to the increasing number of basketball fans and spectators, along with the presence of the number of basketball leagues such as National Basketball League (NBL), National Basketball Association (NBA) and others offered each year. However, the other segment is expected to grow at a higher CAGR during the forecast period.
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Based on the platform, the mobile application segment dominated the market in 2019, and this trend is expected to continue during the forecast period for fantasy sports market in Asia-Pacific and Canada. This is due to the widespread acceptance of mobile phones with rapid market expansion which has led to the launch of various mobile applications for different operating systems like Android and IoS. Countrywide, Canada led the market in 2019, and is expected to dominate futures in the near future. This is due to the growing interest of Canadians for online games and sports betting which has also increased their interest in fantasy sports. However, the Philippines is expected to experience significant growth in terms of value sales in the near future.
Key Take Away
• Nationwide, Canada dominates in terms of Asia-Pacific and Canada's fantasy sports market share, and is expected to maintain its dominance during the forecast period.
• Depending on the sport, the fantasy basketball segment led in 2019 in terms of market share; however, the fantasy-other segment is expected to gain market share in the coming years.
• Based on the platform, the mobile application segment accounted for approximately the largest share of the Asia-Pacific and Canada fantasy sports market in 2019 and is poised to grow at the highest CAGR during the forecast period.
• According to demographics, the segment below 25 years is expected to gain market share in the coming years, and is expected to grow at a higher CAGR during the forecast period for fantasy sports market in Asia-Pacific and Canada.
The key players operating in the Asia-Pacific and Canada's fantasy sports industry include DraftKings Inc., FanDuel Group (Flutter Entertainment), Betway Group, Moneyball, FantasyDraft, LLC, MyClubtap, PlayOn and PlayUp Limited.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR offers global enterprises as well as medium and small businesses unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a purposeful view to provide business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market domains.
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