In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Fantasy Sports Market Report. The global fantasy sports market by revenue is expected to grow at a CAGR of approx.
New York, May 05, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fantasy Sports Market - Global Outlook and Forecast 2021-2026" - https://www.reportlinker.com/p05806366/?utm_source=GNW
14% during 2020–2026.
Digitalization is an essential factor that is driving the growth of the fantasy sports market. Consumers are currently connected with the outer world via digital mediums. An increase in smartphone use is a significant factor influencing the market across the globe. The global vendors prefer selling products/services via apps and online websites. The COVID-19 outbreak has led to the rapid growth in the number of gamers. Online gaming platforms have become one of the most used mediums for entertainment during lockdowns and restrictions. With respect to COVID-19 regulations, real-time sports events have witnessed a halt for few months, which affected the market negatively. However, vendors have come out with new versions, which boost engagements among audiences and provide the experience of leagues and clubs. Daily fantasy sports (DFS) have pushed vendors to focus on this attractive sports segment that draws large audiences. With more than 60 million players/users currently active in the US, the DFS model sets to grow significantly during the forecast period. Also, technological advances such as the combination of analytics and blockchain could completely disrupt the way the industry operates. With advertising monitoring, digital spending, technical upgrades, and online customer surveys growing, the fantasy sports market share is likely to observe promising growth during the forecast period.
The following factors are likely to contribute to the growth of global fantasy sports during the forecast period:
• Growth in Worldwide Sports Events Count
• A rise in Data Consumption
• Development of Fantasy Sports Platforms
• Rise in Female Participation in Sports
The study considers the fantasy sports market’s present scenario and its market dynamics for the period 2020?2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
GLOBAL FANTASY SPORTS MARKET SEGMENTATION
The global fantasy football industry worth is expected to cross over USD 1 billion by 2026. Over 70% of players engage in contests in North America. Fantasy sports have raised the popularity of football considerably over the past few years. Although many experts believe that the sport has been widely popular before the arrival of fantasy sports, its popularity has touched new heights with the growing popularity of fantasy sports. Vendors can consider targeting the large fan base in the segment via interactive and innovative offerings, thereby maximizing their profits significantly. The global fantasy soccer market is likely to grow at a CAGR of over 13% during 2020–2026. Soccer is more prevalent in Europe than in North America, with Latin America and APAC following the suit.
The global fantasy sports market is a male-dominated industry, and the male segment expects to grow at a CAGR of 14% from 2020 to 2026. North America accounts for the largest share of the male component, which is likely to witness an incremental revenue of over USD 589 million during the forecast period. Although slowly, considerable transformations have taken place, the substantial prevalence of male users of fantasy sports is to stay for some time. With more than 60% of male users active on daily fantasy sports platforms across the US, the prospects for this end-user segment remain highly optimistic.
The application-based fantasy sports market share expects to grow at a CAGR of 14%, recording an absolute growth of over 119% from 2020 to 2026. Application-based fantasy sports are increasing across the regions with the increasing penetration of smartphones and easy accessibility of application-based online games. North America is likely to observe an incremental revenue of USD 484 million between 2020 and 2026. APAC expects to reach over USD 60 million by 2026, growing at a CAGR of approx.14%.
The website-based market has a large customer base in North America, where the segment is likely to reach over USD 659 million by 2026, growing at a CAGR of over 14% between 2020 and 2026. On the other hand, APAC is likely to observe an incremental revenue of over USD 32 million between 2020 and 2026. The increasing popularity and acceptance of competitive gaming have attracted more hardcore PC users. Computer and laptop manufacturers are driven to offer the latest high-performance processors and graphics cards for customization.
INSIGHTS BY GEOGRAPHY
In 2020, North America was the most prominent fantasy sports market, accounting for a share of over 68% in terms of revenue. The demand for fantasy sports contests remains all-time high in the US and Canada. North America is likely to account for over 69% in terms of revenue in 2026 due to the growing affinity toward the fantasy sports business and an increase in tech-savvy customers during the forecast period. Europe accounted for over 16% share in terms of revenue in 2020. Germany, the UK, France, Italy, and Spain are the major revenue contributors in Europe. While the demand for fantasy sports is growing, upgrades and innovative offerings drive market growth.
Western European economies are displaying strong demand owing to the rising inclination toward diverse sports categories and an influx of global vendors. Europe is likely to account for an incremental revenue of over $196 million between 2020 and 2026. In 2020, the APAC region accounted for over 10% share in terms of revenue. Australia, India, China, South Korea, Indonesia, and Japan are witnessing high demand for fantasy sports. Although the market is still at a growing stage in the region, it has a high potential backed by the growing millennial population and ardent sports fans looking for exciting products.
• North America
o South Korea
• Latin America
• Middle East & Africa
o Saudi Arabia
o South Africa
INSIGHTS BY VENDORS
Yahoo and ESPN have traditionally been prominent vendors; however, the market is currently dominated by DraftKings and FanDuel, especially in the North American region. While major vendors such as FanDuel, DraftKings, Yahoo, ESPN, and CBS are the primary revenue generators, other vendors such as PlayOn, FanTrax, StarsDraft, Dream11, and Sportito are striving hard to gain better market opportunities in the future years. Innovative offerings hold significant importance in the industry. Catering to the audience and fans with some of the service offerings dedicated completely toward ensuring their maximum engagement is the key to growth within the market.
• CBS Corporation
Other Prominent Vendors
• Boom Sports
• Daily Fantasy Cricket
• DraftTeam Fantasy Sports
Key Questions Answered:
1. How big is the fantasy sports market?
2. What is the most popular fantasy sport?
3. What was the revenue share of fantasy football in 2020?
4. What is the growth of the US fantasy sports market?
5. Which region has the largest market share in the fantasy sports market?
6. Which top companies hold the market share in the global fantasy sports market?
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