The Fantasy Sports Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Fantasy Sports Global Market Report 2024, The fantasy sports market size has grown rapidly in recent years. It will grow from $25.43 billion in 2023 to $28.41 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to internet and mobile penetration, increased popularity of major sports leagues, social connectivity, growth of interactive and engaging platforms, cross-platform accessibility
The fantasy sports market size is expected to see rapid growth in the next few years. It will grow to $47.02 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to emergence of new sports, enhanced user engagement features, gamification elements, legalization and regulation, integration with social media. Major trends in the forecast period include integration of augmented reality (AR) and virtual reality (VR), incorporation of blockchain technology, collaborations with sports leagues and teams, AI-driven recommendations, customization and personalization.
The increasing youth population is contributing to the growth of the fantasy sports market. The present youth spending more and more time on smartphones and, by extension, social media, and fantasy sports has provided them with the possibility to connect and have more enjoyable conversations and competitions with their peers. For instance, in November 2022, according to a report published by the European Commission, a Belgium-based commission that oversees and implements EU policies, as of January 1, 2021, the youth demographic, defined as individuals aged 15 to 29 years, constituted approximately 16.3% of the European Union’s total population. Notably, certain NUTS level 3 regions stood out, with youth accounting for over a quarter of the total population. Specifically, the Danish capital region of Byen København led with 26.7%, followed by the student cities of Overig Groningen in the Netherlands at 25.4%, and Heidelberg, Stadtkreis in Germany at 25.1%. These regions showcased a significant concentration of young people within their populations. Thus, the increasing youth population propels the growth of the fantasy sports market.
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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
Major companies operating in the fantasy sports market are adopting a strategic partnership approach to build the infrastructure for the next generation of fantasy sports gaming. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in November 2023, GameOn, a US-based gaming company, partnered with Sportsology, a US-based sports advisory firm. The partnership is set to inject $2.3 million in development fees into Q4, along with an annual recurring revenue of $1.4 million starting in 2024. The comprehensive deal holds a total projected value of $9.3 million over a five-year period, indicating prospects for growth and additional opportunities within the partnership. Under this agreement, GameOn is actively engaged in the creation of a fantasy sports infrastructure known as $GAME. This platform is strategically crafted to boost fan engagement and drive revenue growth for game developers and sports leagues on a global scale. $GAME is poised to elevate the player experience in sports-centric games such as fantasy, predictor, card battle, and sports betting games, among others relevant to the evolving ecosystem. Developers will leverage $GAME to offer features such as interoperability between games, distributed rewards, true asset ownership, and other advantages tailored for sports fans and gamers.
The fantasy sports market report table of contents includes:
1. Executive Summary
2. Fantasy Sports Market Characteristics
3. Fantasy Sports Market Trends And Strategies
4. Fantasy Sports Market – Macro Economic Scenario
5. Global Fantasy Sports Market Size and Growth
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26. South America Fantasy Sports Market
27. Brazil Fantasy Sports Market
28. Middle East Fantasy Sports Market
29. Africa Fantasy Sports Market
30. Fantasy Sports Market Competitive Landscape And Company Profiles
Top Major Players:
- ESPN Inc
- FanDuel Group
- DraftKings Inc
- CBS SportsDream Sports
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