Influence of Social Media on Fantasy Sports, Capitalization on OTT Platforms and Increased Partnerships in the Fantasy Sports Market
DUBLIN, May 17, 2021 / PRNewswire / – The report “Fantasy Sports Market – Global Outlook and Forecast 2021-2026” has been added to ResearchAndMarkets.com from offer.
The global fantasy sports market in terms of revenue is expected to grow at a CAGR of approx. 14% during 2020-2026.
Digitization is a major factor driving the growth of the fantasy sports market. Consumers are currently connected to the outside world via digital media. Increased use of smartphones is an important factor influencing the market across the world. Global suppliers prefer to sell products / services through online apps and websites.
The COVID-19 outbreak has resulted in rapid growth in the number of gamers. Online gaming platforms have become one of the most used entertainment mediums during lockdowns and restrictions. When it comes to COVID-19 regulations, real-time sporting events have been halted for a few months, which has had a negative impact on the market.
However, vendors have released new versions, which boost audience engagement and deliver the experience of leagues and clubs. Daily Fantastic Sports (DFS) has prompted vendors to focus on this attractive sports segment that attracts large audiences. With over 60 million players / users currently active in the US, the DFS model is expected to grow significantly during the forecast period.
In addition, technological advancements such as the combination of analytics and blockchain could completely disrupt the way the industry works. With the growth of advertising monitoring, digital spending, technical upgrades, and online customer surveys, the fantasy sports market share is expected to show promising growth during the forecast period.
SEGMENTATION OF THE GLOBAL FANTASY SPORTS MARKET
The global fantasy football industry should intersect 1 billion USD by 2026.
Over 70% of players participate in contests North America. Fantasy sports have dramatically increased the popularity of football in recent years. Although many experts believe that the sport was very popular before the advent of fantasy sports, its popularity has reached new heights with the growing popularity of fantasy sports.
Sellers may consider targeting the segment’s large fan base through interactive and innovative offerings, thereby significantly maximizing their profits. The global fantasy football market is expected to grow at a CAGR of over 13% between 2020 and 2026. Football is more prevalent in Europe that in North America, with Latin America and APAC depending on the costume.
The global fantasy sports market is a male dominated industry, and the male segment is expected to grow at a CAGR of 14% from 2020 to 2026. North America accounts for the largest share of the male component, who is likely to experience additional income above 589 million USD during the forecast period. Although slowly considerable transformations have taken place, the substantial prevalence of male fantasy sports users is to remain for some time. With over 60% of male users active on daily fantasy sports platforms across the United States, the outlook for this end-user segment remains very optimistic.
The application-based fantasy sports market share is expected to grow at a CAGR of 14%, registering an absolute growth of over 119% from 2020 to 2026. Application-based fantasy sports are increasing in regions with increasing penetration of smartphones and easy accessibility. online games based on applications. North America is likely to observe an additional income of 484 million USD between 2020 and 2026. APAC plans to reach more 60 million USD by 2026, with a CAGR of around 14%.
The website market has a large customer base North America, where the segment is likely to reach more 659 million USD by 2026, with a CAGR of over 14% between 2020 and 2026. On the other hand, APAC is likely to see additional income of over 32 million USD between 2020 and 2026. The growing popularity and acceptance of competitive gaming has attracted more die-hard PC users. Computer and laptop manufacturers are committed to bringing the latest high performance processors and graphics cards for customization.
OVERVIEW BY GEOGRAPHY
In 2020, North America was the largest fantasy sports market, accounting for over 68% revenue share. Demand for fantasy sports competitions remains at an all time high in the United States and Canada. North America is likely to represent over 69% in terms of revenue in 2026 due to the growing affinity for the fantasy sports industry and an increase in the number of tech-savvy customers over the forecast period.
Europe accounted for more than 16% share in terms of turnover in 2020. Germany, Great Britain, France, Italy, and Spain are the main contributors of income in Europe. As the demand for fantastic sports grows, upgrades and innovative offerings are driving the growth of the market.
The economies of Western Europe are in high demand due to the growing trend for the diversity of sports categories and the influx of global suppliers. Europe is likely to represent an additional income of more $ 196 million between 2020 and 2026.
In 2020, the APAC region accounted for more than 10% share in terms of revenue. Australia, India, China, South Korea, Indonesia, and Japan are witnessing a high demand for fantastic sports. Although the market is still at a growth stage in the region, it has high potential supported by the growing millennial population and sports enthusiasts looking for exciting products.
Yahoo and ESPN have traditionally been major suppliers; however, the market is currently dominated by DraftKings and FanDuel, particularly in the North American region.
While major vendors such as FanDuel, DraftKings, Yahoo, ESPN, and CBS are the major revenue generators, other vendors such as PlayOn, FanTrax, StarsDraft, Dream11 and Sportito strive for better market opportunities in coming years.
Innovative offers have significant importance in the industry. Responding to the public and fans with some of the service offerings fully dedicated to ensuring their maximum engagement is the key to growth in the market.
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. How is the US fantasy sports market growing?
5. Which region has the largest market share in the fantasy sports market?
6. What are the major companies that hold the market share in the global fantasy sports market?
- CBS Company
Other important suppliers
- Ball Baazi
- Boom Sports
- Daily Fantasy Cricket
- DraftTeam Fantasy Sports
- Fantastic project
- Play on
- 11 counters
Main topics covered:
1 Research methodology
2 Research objectives
3 Research process
4 Scope and coverage
4.1 Market definition
4.2 Base year
4.3 Scope of the study
5 Report assumptions and caveats
5.1 Key caveats
5.2 Currency conversion
5.3 Market derivation
6 Market at a glance
7.1 Online Gaming Industry
7.1.1 Gaming Industry – Main Trends in 2021
7.2 Global Fantasy Sports Market
7.3 Fantasy Sports Market Demographics
7.4 Impact of COVID-19
7.5 Value chain
8 Market opportunities and trends
8.1 Growth in the number of world sporting events
8.2 Increase in data consumption
8.3 Development of the Fantasy Sports platform
8.4 Increase in female participation
9 market growth factors
9.1 Influence of Social Media on Fantasy Sports
9.2 Capitalizing on OTT platforms
9.3 Increased partnerships in the fantasy sports market
10 Market restrictions
10.1 Regulatory restrictions in the regions
10.2 The growth of technicalities slows down growth
10.3 Strict regulations against betting
11 Market landscape
11.1 Market overview
11.1.1 Market by geography
11.1.2 Market by sport
11.1.3 Market by gender
11.1.4 Market by platform
11.2 Analysis of the five forces
12.1 Market Overview and Growth Driver
12.2 Market overview
12.3 Fantasy football
12.4 Fantasy football
12.5 Fantastic Basketball
12.6 Fantasy Baseball
12.7 Fantasy hockey
12.8 Fantastic golf
12.9 Fantastic cricket
12.10 Other fantastic sports
13.1 Market Overview and Growth Driver
13.2 Market overview
14.1 Market Overview and Growth Driver
14.2 Market overview
15.1 Market Overview and Growth Driver
15.2 Geographic overview
For more information on this report, visit https://www.researchandmarkets.com/r/rg9j3j
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