IMARC Group, a leading market research company, has recently releases report titled “Fantasy Sports Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global fantasy sports market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Industry Overview of Fantasy Sports Market

Fantasy Sports is a popular online gaming platform that allows participants to create virtual sports teams comprised of real-life athletes from various professional leagues, such as football, basketball, and baseball. It involves the idea of managing a team that accumulates points based on the statistical achievements of the athletes during their respective matches. It also includes scoring goals, gaining yards, and pitching strikeouts, depending on the sport. It can be won through the better performance of the selected players. It allows participants to use their knowledge of the sport and performance statistics of players to strategically assemble their teams. It also enables users to make virtual teams that compete against each other based on the actual on-field performance of the selected athletes in real-world games. It provides a range of player statistics, injury updates, and performance data, enabling participants to make informed decisions when selecting their team lineup for a particular round of matches. It also offers a budget to buy players, which adds a strategic element to the game as they must manage their budget effectively to create a competitive team. It fosters a sense of camaraderie among participants, who often compete in leagues with friends, colleagues, or other enthusiasts. Furthermore, it enhances the overall sports-watching experience, as participants have a vested interest in the performance of individual athletes beyond their favorite teams.

How Big Is the Fantasy Sports Market?

The global fantasy sports market size reached US$ 23.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 47.6 Billion by 2028, exhibiting a growth rate (CAGR) of 11.2% during 2023-2028.

Global Industry Trends and Drivers:

At present, the proliferation of digital platforms and widespread internet access represent one of the key factors supporting the growth of the market. This digital landscape fosters global connectivity, allowing enthusiasts from different corners of the world to engage in the same fantasy leagues. Besides this, the increasing demand for fantasy sports as they offer an immersive and interactive experience for sports fans is propelling the growth of the market. In addition, the growing demand for fantasy sports as they amplify fan engagement by allowing participants to create and manage their own virtual teams, creating a deeper connection with the games and players, is positively influencing the market. Moreover, the availability of real-time sports data and advanced analytics tools providing a data-driven activity is offering lucrative growth opportunities to industry investors. In line with this, participants analyze player statistics and game performance to make informed decisions, enhancing the strategic aspect of the game. Additionally, fantasy sports platforms are leveraging monetization strategies, including entry fees, in-app purchases, and sponsorships. This, in turn, is attracting both individual participants and corporate sponsors, contributing to the market growth.

What Is Included in Market Segmentation?

The report has been segmented the market into following categories:

Breakup by Sports Type:

• Football
• Baseball
• Basketball
• Hockey
• Cricket
• Others

Breakup by Platform:

• Website
• Mobile Application

Breakup by Demographics:

• Under 25 Years
• 25-40 Years
• Above 40 Years

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa

The report provides a comprehensive analysis of the industry key players listed below:

Apollo Global Management Inc., CBS Sports Network (CBS Broadcasting, Inc.), Dream Sports Inc., Fantasy Power 11, FantasyPros, Fantrax, Flutter Entertainment plc, Fsport, Galactus Funware Technology Private Limited, Gameskraft Technologies, RealTime Fantasy Sports Inc., RotoBash and Sachar Gaming Private Limited.