Fantasy Sports Market Set to Reach $59.63 Billion by 2029 with 14.9% Yearly Growth

What combination of drivers is leading to accelerated growth in the fantasy sports market?
The growth of the fantasy sports market is being fueled by the rising young population. Today's younger generation, who spend a considerable amount of time on smartphones and, inherently, on social media and fantasy sports, is getting the opportunity to engage more meaningfully, fostering enjoyable conversations and competitions with their friends and counterparts. For example, a United Nations report from November 2022 indicated that there are 1.2 billion people between the ages of 15 and 24, accounting for 16 percent of the world's population. This young populace is forecasted to increase by 7 percent, reaching close to 1.3 billion by 2030. Hence, the growing youth demographic is a significant driver for the expansion of the fantasy sports market.

Get Your Fantasy Sports Market Report Here:
https://www.thebusinessresearchcompany.com/report/fantasy-sports-global-market-report

What is the projected compound annual growth rate (CAGR) of the fantasy sports market from 2025 to 2034, and what factors influence it?
In recent times, the rapid expansion of the fantasy sports market has been observed. This market is set to escalate from a value of $30.83 billion in 2024 to a higher value of $34.23 billion in 2025, with a compound annual growth rate (CAGR) of 11.0%. Factors such as increasing internet and mobile usage, the rising popularity of major sports leagues, advancements in social connectivity, the emergence of interactive and engaging platforms, and accessibility across various platforms have contributed to the growth observed in the historic period.

Rapid expansion is projected for the fantasy sports market over the coming years, with its size anticipated to reach $59.63 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 14.9%. This growth during the forecast period is projected to be driven by factors such as introduction of new sports, improved features to engage users, elements of gamification, rule legalization and regulations, and merging with social media platforms. Key trends for the forecast period encompass the integration of augmented reality (AR) and virtual reality (VR), the application of blockchain technology, partnerships with professional sports leagues and their teams, AI-guided recommendations, as well as customization and personalization.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5171&type=smp

How are the latest trends influencing the growth of the fantasy sports market?
Leading corporations in the fantasy sports market are introducing inventive and unique platforms that serve to grow their customer reach, drive up sales, and boost revenues. A fantasy sports platform is typically an online application or website, allowing users to fashion and manage virtual sports teams comprised of actual players from professional sporting leagues. For instance, in the September of 2023, Mojo, a company based in the US known for developing hypercasual games, introduced a daily fantasy sports game. Mojo Fantasy is distinguished by its unique features within the fantasy sports gaming space. The platform offers various contests where users engage by choosing a combination of at least four player-based propositions, which bring a strategic angle to the game. A unique aspect is the provision for real-time trading, empowering users to trade specific wagers while salaries constantly change during the contest. This creates an engaging and dynamically interactive gaming experience. Moreover, Mojo allows competitors to create portfolios which directly compete during live games, thus amplifying the engagement and rivalry of the gaming scenario. Importantly, the startup utilizes a revenue model where it takes between three to five percent of the buy-in for each contest, setting up a viable structure for its operations.

What are the major segments of the fantasy sports market and their role in driving growth?
The fantasy sports market covered in this report is segmented -

1) By Sports Type: Football, Baseball, Basket Ball, Hockey, Cricket, Other Types
2) By Platform: Website, Mobile Application
3) By Usage Type: Free, Paid, Hybrid
4) By Application: Individual Competition, Team Competition

Subsegments:
1) By Football: American Football, Association Football (Soccer)
2) By Baseball: Major League Baseball (MLB), Minor League Baseball
3) By Basketball: National Basketball Association (NBA), College Basketball
4) By Hockey: National Hockey League (NHL), International Hockey
5) By Cricket: Twenty20 Leagues, One Day Internationals (ODIs), Test Matches
6) By Other Types: Golf, Tennis, eSports, Auto Racing, Mixed Martial Arts (MMA)

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=5171

Which regions are key players in the growth of the fantasy sports market?
North America was the largest region in the fantasy sports market in 2024. Asia-Pacific is expected to be the fastest region in the forecast period. The regions covered in the fantasy sports market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the fantasy sports market?
Major companies operating in the fantasy sports market include ESPN Inc., FanDuel Group, DraftKings Inc., CBS Sports, Dream Sports, PlayON Fantasy Sports, Mobile Premier League, PlayUp Limited, PrizePicks, RotoWire.com LLC, Bovada, FantasyPros, Fantrax LLC, Sleeper, Boom Sports, MyFantasyLeague.com, 11Wickets, Sofa Superstars, WinView Games, BalleBaazi, NFL Fantasy Football, Yahoo Fantasy Sports, NBC Sports Edge, Fox Sports Fantasy Football, Draft Team Fantasy Sports, Sportito, FSM Fantasy Sports

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=5171&type=smp

What Is Covered In The Fantasy Sports Global Market Report?

•Market Size Forecast: Examine the fantasy sports market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the fantasy sports market for a structured understanding.
•Key Players Overview: Analyze major players in the fantasy sports market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the fantasy sports market.
•Segment Contributions: Evaluate how different segments drive overall growth in the fantasy sports market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the fantasy sports market.
•Industry Challenges: Identify potential risks and obstacles affecting the fantasy sports market.
•Competitive Landscape: Review strategic developments in the fantasy sports market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.