According to a new report published by Allied Market Research, titled, “Fantasy Sports Market by Sports Type, Platform, and Demographics: Opportunity Analysis and Industry Forecast, 2021–2027,” the global fantasy sports market size was $18.6 billion in 2019, and is projected reach $48.6 billion by 2027, registering a CAGR of 13.9% from 2021 to 2027
Key Findings Of The Study
By region, North America dominates in terms of the fantasy sports market share and is expected to retain its dominance during the forecast period.
By sports type, the fantasy football segment led in terms of market share, in 2019; however, the fantasy cricket segment is expected to gain market share in the upcoming years.
By platform, the mobile application segment accounted for about three-fourths share of the fantasy sports market in 2019 and is poised to grow at the highest CAGR during the forecast period.
By demographics, the under 25 years segment is expected to gain market share in the upcoming years and is estimated to grow at a CAGR of 15.9% during the fantasy sports market forecast period.
By region, rest of World is anticipated to grow with robust CAGR of 18.2% during the forecast period.
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Some of the key players analyzed in the fantasy sports market analysis :-
ROTOWORLD (COMCAST CORPORATION)
FANTASYPROS (MARZEN MEDIA LLC)
ROTO SPORTS, INC
GOOD GAMER CORPORATION
NFL ENTERPRISES LLC
Market growth Overview 2021-2027
The rapid expansion of the fantasy sports industry has been well supported by investment from investors around the world. Investors around the world continued to show interest on sports fantasy platforms. For instance Dream11 a fantasy sports platform in India received funding of about $100 Million in a Series D funding round in the year 2018 led by Chinese investment holding company Tencent. On the similar lines, Halaplay raised $5 billion in Series A funding led by Kae Capital and Nazara Technologies. Similarly, FanDuel has received collective funding of more than $400 million. DraftKings, a sports fantasy platform launched in 2012 has raised close to $900 million and is now valued at more than $2 billion. The continued investment from investors aids in the fantasy sports market growth with better product offerings from different platforms.
COVID-19 Analysis :-
The emergence of COVID-19 has negatively disrupted the global fantasy sports market with leagues and tournaments either been called off or shifted to last month of 2020 or to the next year, i.e. 2021. The deferral of sports events has led to widespread losses for the engaged stakeholders. Nevertheless, with the resuming of sports activities in the last quarter of this year, the market is expected to recover slightly; however, a major rebound is projected to be witnessed next year onwards.
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The fantasy sports market is segmented into sports type, platform, demographics and region.
By sports type, the global market is classified into football, baseball, basketball, hockey, cricket, and others. By platform, it is bifurcated into website, and mobile application.
By demographics, the fantasy sports market is divided into under 25 years, 25 to 40 years and above 40 years.
By region, the market is analyzed across North America, Europe, and Rest of World. The market is evaluated based on the user expenditure on fantasy sports platforms.
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1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.1.Top impacting factors
2.1.2.Top investment pockets
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Porter’s five forces analysis
3.2.1.Bargaining power of suppliers
3.2.2.Bargaining power of buyers
3.2.3.Threat of substitution
3.2.4.Threat of new entrants
3.2.5.Intensity of competitive rivalry
3.3.Parent market overview
22.214.171.124.Expansion of digital infrastructure in addition with falling data prices augmented market expansion.
126.96.36.199.Increased investment from investors in fantasy sports platforms to usher market
188.8.131.52.Partnerships of sports fantasy platforms with sport leagues
184.108.40.206.Supporting infrastructure and social media platforms accelerating market growth
220.127.116.11.Transparency in monetary transactions resulting in greater user engagement and comfort
18.104.22.168.Lack of awareness about fantasy sports platforms amongst gaming audience
22.214.171.124.Legal and regulatory challenges to dissuade market proliferation.
126.96.36.199.Early adoption of advanced technologies to create new growth avenues for the sports fantasy industry.