Fantasy Sports Market to Grow $2,327 Million by 2027: at 12.5% CAGR

ReportCrux Market Research has published a new report titled “Fantasy Sports Market by Type (Fantasy Soccer, Fantasy Baseball, Fantasy Football, Fantasy Basketball, Fantasy Hockey, Fantasy Golf, and Other Sports); by Gender (Male, and Female); and by Region: Global Industry Trends, Dynamics, Competitive Insights and Forecast Analysis, 2020 – 2027”.

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Market Size 2019-2027:

According to the report, global demand for fantasy sports market was valued at approximately USD 907.0 Million in 2019 and is expected to generate revenue of around USD 2,327.0 Million by end of 2027, growing at a CAGR of around 12.5% between 2020 and 2027.

Market Analysis and Overview: Global Fantasy Sports Market

The strategic alliances and partnerships with different stakeholders, increasing spending on advertising and promotions, and growing millennial interest, are the major factors responsible for the increased growth of the fantasy sports industry. The increase in the number of sporting events organized worldwide is also among the factors driving the growth of the fantasy sports industry. The desire to engage in a sporting event instead of watching it has dramatically increased the business bar. Technological developments, combined with the availability of streaming partners, are also likely to propel the fantasy sports industry further.

The rising growth of OTT platforms for the fantasy sport segment is likely to show promising growth. OTT's sporting experience is expected to observe creativity, driven primarily by the fantasy sport market. Fantasy sport and OTT channels have been an ideal fit for the entertainment industry as a whole. Fantasy sport is likely to receive a significant boost with the increase in streaming content providers and digitalization.

Regional and Country-level Analysis

By region, the market is divided into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America held almost 39% share of the overall market in 2019. The growing attraction to the sports market and the rise of tech-savvy consumers has led to the industry's steady growth in North America. Several states in the U.S. like New York, Massachusetts, Arkansas, Missouri, Indiana, Colorado, Maryland, Virginia, and Vermont have approved the DFS model, which is likely to improve sports in the U.S. States during the forecast period. Furthermore, with the ease of regulation in the U.S. market, strategic partnerships backed with technical innovations are projected to boost the market share of fantasy sports in North America.

Segmentation Analysis:

The global market for the fantasy sports is segmented into type, gender, and region. Based on type, the market is segmented into fantasy soccer, fantasy baseball, fantasy football, fantasy basketball, fantasy hockey, fantasy golf, and other sports. The fantasy football held almost 42% share of the market in 2019. Biggest factor driving the fantasy football market segment is the robust fan involvement. Strategic collaborations and the introduction of product support across fantasy platforms have increased the fantasy football and basketball standards in major playing countries.

Based on gender, the market is categorized into male, and female. The market for male gender held major share of almost 68% in 2019. Considering that men have traditionally been open to sports and outdoor games, the male category accounts for the largest per gender share of the fantasy sports industry. The female population of fantasy sport has, however, experienced a fair increase in the last few years. The growing number of women-centric sporting events and the rising awareness among women folk about games are factors that are boosting the growth of the female sport segment in the market.

TO UNDERSTAND HOW COVID-19 IMPACT IS COVERED IN THIS REPORT on Fantasy Sports Market

Major Key Players of 2020 Fantasy Sports Market Report:

Major players in fantasy sports market are Paddy Power Betfair Plc, CBS Corp., Fox Corp., DraftKings, Inc., The Football Association Premier League Ltd., Verizon Communications Inc., The Walt Disney Company, Sportech, Inc., Sporta Technologies Private Ltd., and Roto Sports, Inc., among others.

The report segments of global fantasy sports market are as follows:

By Type

• Fantasy Soccer

• Fantasy Baseball

• Fantasy Football

• Fantasy Basketball

• Fantasy Hockey

• Fantasy Golf

• Other Sports

By Gender

• Male

• Female

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The report highlights in-depth quantitative as well as qualitative insights, historical data, and market size projections till 2027. It also gives a perspective on manufacturers, associations, specific organizations, industries, companies, and suppliers that work to expand their business worldwide. Value chain analysis of the industry is explained in detail this providing a clear view of key mediators involved. The report studies the global fantasy sports market size from the company, major regions and countries, products type, end users and applications, background information, and also predictions to 2027.

In depth competitive landscaping, recent developments by competitors and product pipelines are covered in the report. Further, the report focuses on various strategies adopted by different key stakeholders with respect to product marketing. The consumption or sales revenue, consumption market share and its growth across the applicable regions is described in detail in the report. In addition, it also studies the sales channels and strategies that are adopted by different leading manufacturers.

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