Global Fantasy Sports Market Size, Share, Growth Analysis, By Sports Type(Football, Baseball), By Platforms(Mobile application and Website), By Demographics(Under 25 Years, 25 to 40 Years and Above 40 Years) - Industry Forecast 2023-2030

Global Fantasy Sports Market size was valued at USD 27.20 Billion in 2022 and is poised to grow from USD 30.95 Billion in 2023 to USD 87.07 Billion by 2031, at a CAGR of 13.80% during the forecast period (2024-2031).

The global fantasy sports market has undergone substantial growth in recent years and is anticipated to sustain this upward trend. A key driver behind this growth is the increasing popularity of various sports leagues and tournaments on a global scale. Major events like the NFL, NBA, Premier League, and IPL have contributed to heightened fan engagement, creating an ideal environment for the expansion of fantasy sports platforms. The widespread adoption of digital technologies, including smartphones and high-speed internet, has facilitated easier participation in fantasy sports and real-time team tracking for fans. Additionally, the market is capitalizing on the rising trend of online gaming and eSports, aligning with the expanding gaming culture worldwide. This convergence attracts a new cohort of sports enthusiasts who appreciate the competitive and interactive elements of fantasy sports platforms. The market is also witnessing continuous innovation in gameplay, user interfaces, and social interaction. Companies are introducing features like daily fantasy contests, virtual trading, and augmented reality experiences to elevate user engagement and provide a more immersive experience. Nevertheless, the market faces challenges, including legal and regulatory issues in certain jurisdictions, concerns about sports competition integrity, and the dominance of a few major players in the industry.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Fantasy Sports Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Fantasy Sports Market Segmental Analysis

Global Fantasy Sports Market is segmented by sports type, platforms, demographics and region. Based on sports type, the market can be segmented into football, baseball, basketball, hockey, cricket, and others. Based on platforms, the market is segmented into mobile application and website. Based on demographics, the market is segmented into Under 25 Years, 25 to 40 Years and Above 40 Years. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Fantasy Sports Market

A major catalyst for the global fantasy sports market is the growing incorporation of advanced technologies. The integration of virtual reality (VR), augmented reality (AR), and other immersive experiences has significantly improved user engagement, enhancing the overall fantasy sports experience. By providing users with a more interactive and realistic environment, these technologies create a stronger connection between participants and their virtual teams, as well as the sporting events they are modeled after. This integration of technology has played a pivotal role in fostering the expansion and increased popularity of fantasy sports platforms.

Restraints in the Global Fantasy Sports Market

A significant challenge in the global fantasy sports market is the legal and regulatory hurdles confronted by operators across different jurisdictions. The diverse regulations related to online gambling and sports betting in various countries can influence the legality and functioning of fantasy sports platforms. In certain regions, authorities classify fantasy sports as a form of gambling, imposing intricate licensing obligations and limitations on operators. Moreover, apprehensions regarding the integrity of sports competitions and the potential for addiction pose additional factors that may impede the growth and development of the fantasy sports market.

Market Trends of the Global Fantasy Sports Market

A notable trend in the Global Fantasy Sports Market is the surging popularity of Fantasy Football. Fantasy football, synonymous with fantasy soccer, has witnessed widespread acclaim by closely simulating the real-world game and providing numerous competitive leagues. Soccer, recognized globally as football, boasts an extensive fan base exceeding 5 billion, as per FIFA. Leading football leagues like the Premier League, La Liga, Bundesliga, MLS, Serie A, and Ligue 1 contribute significantly to the sport's universal appeal. Fantasy soccer, engaging nine million participants globally, is played in diverse formats. Recognizing the demand for virtual versions of this beloved sport, entrepreneurs have established sports platforms catering to fans from various locations. Fantasy football leagues often mirror official leagues worldwide, including Fantasy Premier League, Fantasy La Liga, Bundesliga, Serie A, among others. Additionally, players have the flexibility to create customized leagues with a broad array of possibilities.