DUBLIN, Oct. 30, 2024 (Globe Newswire) — The “Fantasy Sports – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global fantasy sports market is estimated to be USD 24.2 billion in 2023 and projected to reach USD 61.2 billion by 2030, growing at a CAGR of 14.2% from 2023 to 2030. This comprehensive report provides a detailed analysis of market trends. Provide drivers and forecasts to help you make informed business decisions.
The growth of the global fantasy sports market is driven by several key factors such as increasing number of sports enthusiasts, increasing smartphone penetration, and emergence of new sports formats. One of the key growth drivers is the growing global sports fan base, with sports leagues such as the NFL, NBA, and IPL attracting millions of fans across multiple regions.
Fantasy sports platforms capitalize on this craze by allowing fans to engage with their favorite leagues in a more interactive way. The ability to draft real-world players, make roster changes, and track player performance in real-time creates a sense of ownership and control not available in traditional sports viewing. This enhanced engagement turns casual viewers into active participants, thereby expanding the fantasy sports market. Additionally, the rise of sports broadcasts and live streaming options makes it easier for fans to stay up-to-date on player performance and match results, making fantasy sports even more popular.
Another key growth driver is the rise in smartphone and mobile internet penetration, which has made fantasy sports more accessible to a wider audience. Mobile apps have become the primary medium for participating in fantasy sports, offering a seamless experience with real-time notifications, easy team management, and social features. The rise of daily and weekly fantasy sports formats is also contributing to market growth, as these formats offer a faster and more flexible gaming experience compared to traditional season-long leagues.
Additionally, the growing popularity of new sports such as esports and mixed martial arts (MMA) is providing new avenues for fantasy sports platforms to diversify their offerings and attract new user segments. Fantasy esports in particular is gaining momentum by tapping into a burgeoning gaming community that shares similar demographics to fantasy sports users. As technological advances continue to improve the user experience and the regulatory environment becomes more favorable, the global fantasy sports market is expected to achieve sustained growth due to increasing user engagement, product diversification, and expanding market scope. It is expected.
Key insights:
Market Growth: Understand the significant growth trajectory of the application-based platform sector, expected to reach USD 49.5 billion by 2030 at a CAGR of 14.6%. The web-based platform sector is also expected to grow at a CAGR of 12.5% during the analysis period. Regional analysis: Gain insight into the US market, estimated at $6.4 billion in 2023, and the Chinese market, expected to grow by an impressive 13.3%. The CAGR is expected to reach $9.4 billion by 2030. Check out growth trends in other key regions such as Japan, Canada, Germany, and Asia Pacific.
Report features:
Comprehensive market data: Independent analysis of annual sales and market forecasts (USD million) from 2023 to 2030. Detailed regional analysis: Detailed insights into key markets including the US, China, Japan, Canada, Europe, Asia Pacific, and Latin. America, Middle East, Africa. Company Overview: Covers major players in the fantasy sports market, including Blitz Studios, Inc. (Sleeper), CBS SportsLine, Draft Kings, FanDuel Inc., and Fantasy Sports Tech. Free Updates: Receive 1 year of free report updates to stay on top of the latest market trends.
Key attributes:
Report Attribute Details No. Number of Pages 175 Forecast Period 2023 to 2030 Estimated Market Value in 2023 (USD) 24.2 Billion Dollars Predicted Market Value by 2030 (USD) 61.2 Billion Average Annual Growth Rate 14.2% Target Region Worldwide
Main topics covered:
Market overview
Influencer Market Insights Global Market Trajectory Fantasy Sports – Global Key Competitors Market Share Percentage in 2024 (E) Competitive Market Presence – Strong/Active/Niche for Players Globally in 2024 /Mediocre (E)
Market trends and drivers
Increasing popularity of digital sports engagement drives fantasy sports market growth Increased use of mobile and online platforms expands addressable market for fantasy sports Rising demand for interactive and engaging fan experiences drives fantasy sports market growth Driving Growth Increasing focus on social and community-based gaming is driving market adoption Case Overview: Increased legalization of sports betting and gambling bodes well for expansion of fantasy sports market Augmented Reality (AR) and Virtual Reality ( Technological advances in VR (VR) are driving innovation in fantasy sports Case Summary: Increased female participation and representation expands market reach for fantasy sports Growing integration of fantasy sports Social media and live streaming platforms expand market opportunities
Focus on handpicked players: Some of the 34 companies profiled in this Fantasy Sports market report are:
Blitz Studios, Inc. (Sleeper)CBS SportsLineDraft KingsFanDuel Inc.Fantasy Sports TechFantasyProsFantraxFirst Pick Labs, Inc. (MyFantasyLeague)Flutter Entertainment plclow6 LTD
For more information about this report, please visit https://www.researchandmarkets.com/r/b865js.
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