What Factors Propelled The Growth Of The Fantasy Sports Market In The Past?
The fantasy sports market has seen considerable growth due to a variety of factors.
• In recent years, the fantasy sports market has seen a significant expansion. The market, currently valued at $30.83 billion in 2024, is expected to rise to $34.23 billion in 2025, with a compound annual growth rate (CAGR) of 11.0%.
Several factors contributed to this historical period growth, including internet and mobile penetration, the growing popularity of major sports leagues, social connectivity, the development of interactive and engaging platforms, and the accessibility across multiple platforms.
What is the Forecasted Growth of the Fantasy Sports Market Size?
The fantasy sports market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the fantasy sports market size to expand significantly in the upcoming years, reaching $59.63 billion in 2029 with a compound annual growth rate (CAGR) of 14.9%.
Factors contributing to this predicted growth in the forecast period include the introduction of new sports, increased user interaction capabilities, elements of gamification, legal acceptance and regulation, as well as social media integration. Key trends for the forecast period consist of the introduction of augmented reality (AR) and virtual reality (VR), the usage of blockchain technology, partnerships with sports leagues and teams, AI-fueled suggestions, as well as customization and personalization.
What Are The Key Drivers Fueling Growth In The Fantasy Sports Market?
The growth of the fantasy sports market is being fueled by a growing youth demographic that is spending an increasing amount of time on their smartphones, social media and fantasy sports. These platforms afford them the opportunity to engage in more entertaining interactions and competitions with their peers. For instance, a report by the United Nations, a US-based intergovernmental organization, revealed in November 2022 that out of the global population, 16 percent (or 1.2 billion) are young people between the ages of 15 and 24. This figure is expected to increase by 7 percent, reaching nearly 1.3 billion by the year 2030. Consequently, the rising number of young people is driving the growth of the fantasy sports market.
What Is The Segmentation Of The Global Fantasy Sports Market?
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)
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What Emerging Trends Are Shaping The Fantasy Sports Market Landscape?
Leading businesses in the fantasy sports market are introducing cutting-edge products like fantasy sports platforms to expand their customer reach, escalate sales and boost revenue. A fantasy sports platform is a web-based service or application that allows users to form and manage virtual sports teams made up of actual athletes from professional sports leagues. For example, in September 2023, Mojo, a US firm specializing in hypercasual games production, unveiled a daily fantasy sports game. Mojo Fantasy differentiates itself through its unique features in the fantasy sports gaming sector. The platform hosts competitions where users can participate by choosing combinations of a minimum of four-player-based props, introducing a strategic element to the game. An exclusive feature is the real-time trading option that lets users trade particular bets as salaries vary during the competition, offering a dynamic, interactive gaming experience. Additionally, Mojo allows participants to construct portfolios that directly compete in live matches, amplifying the engagement and competitiveness of the gaming setting. Significantly, the startup operates on a revenue model by collecting three to five percent of the buy-in for each competition, forming a durable structure for its operations.
Who Are the Key Players 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
What are the Regional Insights into 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.
