NEW YORK: The global fantasy sports market is expected to grow by $6.28 billion, at a CAGR of over 7% during 2020-2024, according to a report by Technavio.
The market is expected to be driven by factors such as the launch of various apps for fantasy sports and the increasing number of sports leagues.
Fantasy Sports Market: Opportunities
The gaming market has grown significantly over the years. Many companies are promoting eSports, which is encouraging new gamers to take up gaming as a profession. Besides, the rising number of esports tournaments is expected to create significant growth opportunities in the market during the forecast period.
Fantasy Sports Market: Segmentation by Type
Based on the segmentation by type, the market generated maximum revenue in the fantasy soccer segment in 2019. The segment is mainly driven by the facilities that fantasy soccer players receive. Fantasy sports websites allow users to transfer their players multiple times. Some websites allow the unlimited transfer of players during a season. Many such benefits are fostering the growth of the fantasy soccer segment.
Fantasy Sports Market: Segmentation by Geography
North America held the largest market share in 2019 and the market growth in the region is expected to be slower compared to the growth of the market in MEA and APAC. Factors such as the increasing number of players, the rising popularity of football, and the strong presence of internet infrastructure are expected to drive the growth of the fantasy sports market in North America during the forecast period.
Fantasy Sports Market: Major Vendors
Sporta Technologies Pvt. Ltd. (Dream Sports)
Dream Sports, parent company of leading Indian fantasy gaming platform Dream11 and digital sports streaming platform FanCode, provides a multi-sport aggregator platform for every sports fan offering a wide spectrum of content, commerce, and community engagement. The company offers fantasy cricket league and fantasy football league under the Dream 11 brand.
DraftKings Inc.
The company provides DraftKings soccer, a virtual environment where the players assemble imaginary or virtual teams of real soccer players. The company also offers DraftKings MMA, a virtual environment where the players assemble imaginary or virtual teams of real MMA players.
Sportech Inc.
The company provides a virtual environment where the players assemble imaginary or virtual teams of real horse racing players.
The Football Association Premier League Ltd.
The company provides a virtual environment where the players assemble imaginary or virtual teams of real soccer players.
Verizon Communications Inc.
Provides wireless and wireline communications services and products, video and data services, corporate networking solutions, security and managed network services, and others. The company offers fantasy golf league services and fantasy auto racing league services.
