The global fantasy sports market size was US$ 22.9 billion in 2021. The global fantasy sports market size is forecast to reach US$ 66.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 14.9% during the forecast period from 2022 to 2030.
Fantasy sports are online game platforms in which players create and manage virtual teams of real professional athletes. Over the course of a whole sports league or season, participants compete against each other's fantasy teams. Based on the performance of genuine professional sports players, the user who scores the most points get the money. Customers can expect total openness from players in the fantasy sports market when it comes to their financial transactions. All financial transactions on sports fantasy sites are protected by secure payment gateways, giving players more confidence.
Factors Influencing Market Growth
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global fantasy sports market. Governments worldwide imposed lockdown in order to prevent the spread of COVID-19. As a result, various leagues and tournaments were either canceled or postponed. The cancellation of sporting events has resulted in significant losses for all involved parties. However, stay-at-home orders and lockdowns have resulted in an exponential increase in online gamers. As a result, the expansion of the fantasy sports sector is aided by the introduction of many unique virtual events such as quizzes, new launches, and the addition of new sports by leading organizations to assure user involvement.
Regional Insights
North America garnered the highest share in the market in 2021 and is forecast to grow significantly during the forecast period. As a result of the growing number of users in various fantasy sports. In addition, the rising accessibility of high-speed internet connectivity and the increasing popularity of sports such as football and baseball. Additionally, the adoption of the latest technologies such as blockchain and artificial intelligence (AI) to offer more fascinating experiences is expanding the popularity of fantasy sports. Therefore, these factors are forecast to fuel the regional market growth.
The Asia Pacific region is forecast to have lucrative growth in the market during the forecast period. As a result of the rising users of fantasy sports. In addition, India is emerging as the largest market for fantasy sports due to the growing craze of cricket and football. Therefore, these factors are forecast to drive market growth in the region.
Leading Competitors
The leading prominent companies profiled in the global fantasy sports market are:
Scope of the Report
The global fantasy sports market segmentation focuses on Sports Type, Platform, Age Group, Usage Type, Gaming Mode, and Region.
Segmentation based on Sports Type
Segmentation based on Platform
Segmentation based on Age Group
Segmentation based on Usage Type
Segmentation based on Gaming Mode
Segmentation based on Region
