Portlnad, OR, Nov. 05, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global fantasy sports market was estimated at $18.6 billion in 2019 and is anticipated to hit $48.6 billion by 2027, registering a CAGR of 13.9% from 2021 to 2027. The report provides a detailed analysis of the top investment pockets, top winning stratagems, drivers & opportunities, market size & estimations, competitive landscape, and fluctuating market trends.
Expansion of digital infrastructure in addition with falling data prices, increase in investment from investors in fantasy sports, partnerships of sports fantasy platforms with sport leagues, supporting infrastructure and social media platforms, and transparency in monetary transactions that results in greater user engagement and comfort fuel the growth of the global fantasy sports market. On the other hand, lack of awareness about fantasy sports platforms amongst gaming audience curtails down the growth to some extent. However, growing adoption of advanced technologies is expected to create lucrative opportunities in the industry.
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Covid-19 scenario-
- With more and more people staying at home, during this pandemic, the demand for online gaming platform has increased to a significant extent.
- The fact that fantasy sports don’t involve physical interaction with the fellow players and perfectly goes along with the norm of social distancing has impacted the market positively.
The global fantasy sports market is analyzed across sports type, platform, demographics, and region. Based on sports type, the football segment contributed to more than two-fifths of the total market share in 2019 and is expected to lead the trail from 2021 to 2027. The cricket segment, on the other hand, would manifest the fastest CAGR of 17.9% by 2027.
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Based on platform, the mobile application segment accounted for nearly three-fourths of the total market revenue in 2019 and is projected to rule the roost throughout the forecast period. The same segment would also portray the fastest CAGR of 14.8% till 2027.
Based on region, North America held the major share in 2019, generating more than half of the global market. Simultaneously, the region across Europe would showcase the fastest CAGR of 15.6% by 2027.
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The key market players analyzed in the global fantasy market report include DraftKings Inc., fantacalcio, Fanduel (Flutter Entertainment), NFL Fantasy, Dream Sports, FantasyPros, Rotowire, Fantrax, Rotoworld, and Sportech Inc. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to corroborate their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.