Dublin, Aug. 14, 2019 (GLOBE NEWSWIRE) — The “Fantasy Sports Market – Global Outlook and Forecast 2019-2024” report has been added to ResearchAndMarkets.com’s offering.
The fantasy sports market size is expected to reach more than $1.5 billion by 2024, growing at a CAGR of more than 11% during 2018-2024.
This research report on the fantasy sports market covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study includes insights on segmentation by sports (football, soccer, basketball, baseball, hockey, golf, cricket, and other fantasy sports), gender (male and female), and geography (North America, APAC, Europe, Latin America, and MEA).
The study considers the present scenario of the fantasy sports market and its market dynamics for the period 2018-2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and examines leading companies and other prominent companies operating in the market.
Increasing strategic collaborations and partnerships with diverse stakeholders, growing advertising and marketing spend, and rising interest of millennial are the major factors responsible for the increased growth of the fantasy sports market.
A major factor driving the growth of the fantasy sports business is the rise in the number of sporting events organized worldwide. The urge to participate in a sport event rather than view it has raised the bar of the market significantly. Technological advancements, coupled with the availability of streaming partners, are further driving the fantasy sports market.
The growing popularity of OTT platforms is expected to augur well for the fantasy sport segment. The OTT sports experience is set to observe innovation, which is mainly driven by fantasy sport business. Fantasy sport and OTT platforms have become an apt match for the overall entertainment business. With the growth in streaming service providers and digitalization, fantasy sport is expected to receive a major boost.
This market research report includes a detailed segmentation of the market by sports, gender, and geography. The worldwide popularity of football is a major reason for the highest share of the fantasy football segment. The segment captured around half of the fantasy sports market in 2018. The extensive fan engagement is another a major factor that is driving the fantasy football market segment. Strategic partnerships and the launch of supporting products across fantasy platforms have raised the standards of fantasy basketball in major playing countries.
As men have historically been receptive to sports and outdoor games, the male segment accounts for the highest share in the fantasy sports market by gender. However, over the last few years, the female population in fantasy sport has witnessed a reasonable surge. The growing number of women-centric sports events and the increasing awareness about games among womenfolk are the factors boosting market growth of female sports segment.
The growing affinity toward sports business and the increase in tech-savvy customers have contributed to the incremental growth of the industry in North America. Several states in the US -Arkansas, Colorado, Indiana, Maryland, Massachusetts, Missouri, New York, Virginia, and Vermont- have legalized the DFS format, which is likely to boost the sports in the US during the forecast period. Further, with the ease in regulation across the US, technological advancements backed by strategic partnerships are expected to increase the fantasy sports market value in the US.
The rising inclination toward diverse sports categories and the influx of global vendors with innovative offerings are driving the Europe fantasy sports market. The fantasy sports market in India, China, South Korea, Indonesia, and Japan is witnessing a high surge in demand due to the increasing millennial engagements in sports, growing digitization, and the rising number of sporting events in developing countries. The Latin American fantasy sports market offers reasonable opportunities for vendors. Vendors are opting for diverse marketing strategies by developing online platforms to cater to the untapped audience in the region, which will have significant market growth in the coming years.
Key Vendor Analysis
The global fantasy sports market is currently undergoing several transformations from being consolidated to fragmented. Vendors catering the market have a vast range of opportunities to capitalize upon. They are also focusing to maintain certain basic fan requirements such as security, transparency, fantasy insights, interactive user interface, and technological leverages. Further, vendors are looking forward to expanding in new regions and countries, depending upon demand growth and trying to utilize maximum digital fan-centric content creation to capitalize upon the exponentially growing market.
Key Market Insights
- Offers market sizing and forecast and growth prospects.
- Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the market.
- Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
- Delivers a complete overview of market segments and the regional outlook of the market.
- Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the market.
Key Topics Covered
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
4.4.1 Market Segmentation by Sports
4.4.2 Market Segmentation by Gender
4.4.3 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Fan in the Fantasy
8.1.2 Aggressive Ad & Marketing Spending
8.1.3 Millennial-driven Fantasy Models
8.1.4 Growth Spurred by Increasing Sporting Events
8.2 Market Growth Restraints
8.2.1 Regulatory Restrictions Across Regions
8.2.2 Flooding Technicalities Hampering Growth
8.2.3 Stringent Regulations Against Betting
8.3 Market Opportunities & Trends
8.3.1 Leveraging Social Media Platforms
8.3.2 Embracing Blockchain for Service Enhancement
8.3.3 Capitalizing on OTT Platforms
8.3.4 Partnering with Diverse Stakeholders
9 Value Chain Analysis
9.1 Value Chain Analysis
10 Global Fantasy Sports Market
10.1 Market Size & Forecast
10.2 Five Forces Analysis
10.2.1 Threat of New Entrants
10.2.2 Bargaining Power of Suppliers
10.2.3 Bargaining Power of Buyers
10.2.4 Threat of Substitutes
10.2.5 Competitive Rivalry
11 By Sports
11.1 Market Snapshot & Growth Engine
11.2 Market Overview
11.3 Fantasy Football
11.4 Fantasy Soccer
11.5 Fantasy Basketball
11.6 Fantasy Baseball
11.7 Fantasy Hockey
11.8 Fantasy Golf
11.9 Fantasy Cricket
11.10 Other Fantasy Sports
12 By Gender
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.5 Market by End-users
13 By Geography
13.1 Market Snapshot & Growth Engine
14 North America
17 Latin America
18 Middle-East & Africa
19 Competitive Landscape
19.1 Competition Overview
20 Key Company Profiles
20.1 CBS Corporation
21 Other Prominent Vendors
21.3 Boom Fantasy
21.4 Binoba 11
21.5 Daily Fantasy Cricket
21.7 DraftTeam Fantasy Sports
21.25 Swoopt Fantasy Sports
21.26 11Wickets (Ability Games)
For more information about this report visit https://www.researchandmarkets.com/r/ysvbs2
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