Fantasy Sports Global Market To Reach Value Of About $38 Billion In 2025
29 Jul, 2021
The fantasy sports market consists of sales of fantasy sports services by entities (organizations, sole traders, and partnerships) that are engaged in providing online gaming and betting services. Fantasy sports, often known as rotisserie sports or roto, are any of a variety of games that allow a player to play a virtual game or a virtual season of a league. These teams compete based on the statistical performance of those players in actual games. In fantasy sports, a player earns points based on real life statistics that are converted into fantasy points. The fans take on the roles of both general manager and field manager for their team, assembling a squad through a draft and deals and putting together lineups in desire of the highest statistical output.
Global Fantasy Sports Market Size And Drivers:
The global fantasy sports market is expected to grow from $20.36 billion in 2020 to $22.31 billion in 2021 at a compound annual growth rate (CAGR) of 9.5%. The growth in the fantasy sports market is mainly due to the increasing youth population, growth in digital infrastructure, availability of affordable smartphones, increasing popularity of players in various sports, growing investment in internet infrastructure and the launch of fantasy sports applications. The market is expected to reach $38.60 billion in 2025 at a CAGR of 14.7%. The increasing youth population is contributing to the growth of the fantasy sports market.
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Trends In The Global Fantasy Sports Market
Artificial intelligence is a key trend gaining popularity in the fantasy sports market as it can help a player to focus on the decisions that matter such as whom to start with and which players to trade. Artificial intelligence is the capacity of a computer or a robot operated by a computer to do activities that normally involve human intelligence and discernment. Major players operating in the fantasy sports sector are focused on artificial intelligence technology to reduce the complexities in fantasy sports trading. For instance, in September 2020, IBM and ESPN introduced a new fantasy football app feature that uses IBM Watson's artificial intelligence to generate fair transactions and keep players informed. The feature develops on ESPN and IBM's efforts to use AI to make fantasy football more interesting.
Global Fantasy Sports Market Segments:
The global fantasy sports market is further segmented based on sports type, platform, usage type, application and geography.
By Sports Type: Football, Baseball, Basket Ball, Hockey, Cricket, Others
By Platform: Website, Mobile Application
By Usage Type: Free, Paid, Hybrid
By Application: Individual Competition, Team Competition
By Geography: The global fantasy sports market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the fantasy sports market in 2020.
Read More On The Report For The Global Fantasy Sports Market At:https://www.thebusinessresearchcompany.com/report/fantasy-sports-global-market-report
Fantasy Sports Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides fantasy sports market overviews, analyzes and forecasts market size and growth for the global fantasy sports market, fantasy sports market share, fantasy sports market players, fantasy sports market segments and geographies, fantasy sports market’s leading competitors’ revenues, profiles and market shares. The fantasy sports market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.