Fantasy Sports Market Size, Share & Trends Analysis Report By Sports, By Sports Type, By Platform, By Gameplay, By Device, By Demographics, By Region, And Segment Forecasts, 2023 - 2030

Fantasy Sports Market Size, Share & Trends Analysis Report By Sports, By Sports Type, By Platform, By Gameplay, By Device, By Demographics, By Region, And Segment Forecasts, 2023 - 2030

Fantasy Sports Market Growth & Trends

The global fantasy sports market size is estimated to reach USD 56.36 billion by 2030, registering a CAGR of 14.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. The demand for fantasy sports is gaining momentum due to improving internet connectivity and increasing smartphone ownership, which helps in user gain. In fantasy sports, users can make virtual teams, which comprise proxies of real players from any professional sports. These teams compete based on the player’s actual performance, which aids the service provider’s analytical servers to predict the users’ winning and losing.

Fantasy sports operators are looking for opportunities to enhance their relationships and contribution to the sporting industry. Establishing digital footprints help the operator to create future-ready jobs in artificial intelligence, machine learning, and analytics, which allows them to contribute to the expansion of the sporting industry. Operators are also providing extensive funding for sports infrastructure, supporting the adoption of regional sports, and increasing the viewership of regional sports leagues and tournaments.

This enormous growth in the market has generated curiosity and interest among the media, resulting in various YouTube channels, vlogs, TV shows, newspaper columns, blogs, and forums on which experts analyze player and team performance and predict upcoming trends. Key players are acquiring enormous market shares and a higher user base. The industry also provides opportunities for newer companies to grow in the market owing to its vast potential.

North America is the highest revenue contributor for fantasy sports operators due to the availability of the latest technologies such as blockchain and artificial intelligence, which provide a more immersive experience and drives popularity in the region. Asia Pacific is witnessing exponential market growth due to the spike in the user base in economies such as India. The country is one of the key emerging markets, as the craze for cricket and football, along with various leagues such as IPL, ISL, and others, provide a helping hand to the expansion of the market in India as well as the region.

Fantasy Sports Market Report Highlights

• The team sports segment held the largest revenue share in 2022 in the global market for fantasy sports, owing to the worldwide popularity of major team sporting events such as the FIFA World Cup, Cricket World Cup, etc. Predictions are made about which teams have greater odds of winning, and users are aware of these sports’ playing regulations, playing terms, and analysis
• Based on sports type, football accounted for the largest market share in 2022 due to the widespread popularity of fantasy football, along with the highly addictive nature of the platform and the ease of managing one’s own team
• The application-based platform segment is likely to expand at the fastest CAGR over the forecast period. Fantasy sports applications can be accessed from anywhere and allow users to participate in fantasy tournaments
• The European market is attaining moderate growth due to the presence of several major leagues, run by large corporations such as Barclays, Hublot, and Nike, which has helped in popularizing the concept of fantasy sports in the region

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