Fantasy Sports Market Size, Share, Trends and Industry Report 2023-2028

How Big Is the Fantasy Sports Market?

The global fantasy sports market size reached US$ 23.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 47.6 Billion by 2028, exhibiting a growth rate (CAGR) of 11.2% during 2023-2028.

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What is Fantasy Sports?

Fantasy sports are online games that allow participants to create virtual teams composed of real-life athletes from professional sports leagues. They consist of football, baseball, basketball, hockey, soccer, golf, auto racing, cricket, and esports. They enhance the engagement and enjoyment of watching live sports, which gives fans additional reasons to follow games, players, and statistics. They can serve as a social activity, which offers a platform for friends, family, or colleagues to interact and compete in private leagues. They provide an educational aspect by deepening the understanding of the participants of sports, including strategies, player roles, and statistical analysis. They also offer cash prizes or other incentives, which adds an element of financial reward for skilled play. Their players act as team owners, drafting, trading, and managing their teams to outperform other fantasy teams based on real world athletic performance metrics like points scored, assists, or touchdowns.

Global Industry Trends and Drivers:

The increasing popularity of professional sports leagues represents one of the primary factors driving the demand for fantasy sports around the world. Fans who watch these sports often seek additional ways to engage with the games and players they love. Fantasy sports allow them to create teams, strategize, and feel more involved in the sports community. Moreover, the easy possibility of winning money or other rewards is driving the participation rate in fantasy sports. Daily fantasy sports platforms, where users can win prizes based on daily or weekly performances, are particularly popular. In addition, the growing number of collaborations between media houses, professional sports leagues, and fantasy sports platforms to showcase the thrill and strategic depth involved in fantasy sports is influencing the market positively. Apart from this, key players are incorporating advanced analytics tools that enable participants to make informed decisions based on real time player statistics, game situations, and other data points and provide predictive insights, which gives participants an edge in their competitions. They are also launching mobile applications that offer instant updates, chat features, and an intuitive interface, which makes it easier than ever for participants to engage with their teams on the go. Leading players are integrating virtual reality (VR), machine learning (ML), artificial intelligence (AI), blockchain, and augmented reality (AR) to enhance the experience by providing immediate responses to queries, offering advice, and automating certain tasks like player swaps based on performance data. These advancements can also offer a transparent and immutable platform for transactions within premium leagues or buying and selling in-game assets.

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What Is Included in Market Segmentation?

The report has been segmented the market into following categories:

Breakup by Sports Type:
• Football
• Baseball
• Basketball
• Hockey
• Cricket
• Others

Breakup by Platform:
• Website
• Mobile Application

Breakup by Demographics:
• Under 25 Years
• 25-40 Years
• Above 40 Years

Breakup by Region:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

The report provides a comprehensive analysis of the industry key players listed below:

Apollo Global Management Inc., CBS Sports Network (CBS Broadcasting, Inc.), Dream Sports Inc., Fantasy Power 11, FantasyPros, Fantrax, Flutter Entertainment plc, Fsport, Galactus Funware Technology Private Limited, Gameskraft Technologies, RealTime Fantasy Sports Inc., RotoBash and Sachar Gaming Private Limited.

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This release was published on openPR.