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Fantasy Sports Market: Segmented by Type (Football, Baseball, Basket Ball, Hockey, Cricket and Others); By Application (Website and Mobile Application); and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[ 170+ Pages Research Report] Fantasy Sports Market to surpass USD 64.73 million by 2030 from USD 21.95 million in 2020 at a CAGR of 14.7% in the coming years, i.e., 2021-30.
Fantasy sports are online prediction games in which anyone assembles a virtual team of professional athletes. Real-life statistics are turned into fantasy points, and you get points for them. The greater your fantasy points, the better your player performs in real life. Players up against other managers and their teams in this game. To maintain winning, everyone manages a roster by adding, dropping, trading, and selling players. The global adoption of technology is a crucial factor driving the growth of the Global Fantasy Sports Market industry. Furthermore, due to its high revenue and expanding user base, the gaming industry's expanding investment has transformed the market. The market's expansion would be aided by the growing youth population and urbanization.
Global Fantasy Sports Market is expected to project a notable CAGR of 14.7% in 2030.
This growth is anticipated due to increasing mergers and acquisitions across various sectors which will create a worldwide demand for Fantasy Sports. Digitalization is a key aspect fueling the expansion of the fantasy sports industry. Consumers are now connected to the outside world through digital means. An increase in smartphone usage is a major element driving the global market. Global suppliers choose to market services through applications and websites.
Football segment to grow with the highest CAGR during 2020-30
Global Fantasy Sports Market is segmented by type into Football, Baseball, Basket Ball, Hockey, Cricket, and Others. Football segment held the largest market share in the year 2020. Football's popularity has risen dramatically in recent years due to fantasy sports. Despite the fact that many analysts believe the sport was popular prior to the debut of fantasy sports, it has reached new heights as a result of the growing popularity of fantasy sports. Vendors can target the segment's vast fan base with interactive and new offerings, thereby greatly increasing their earnings.
Mobile application segment to grow with the highest CAGR during 2020-30
Global Fantasy Sports Market is divided by application into Website and Mobile Application. Over the forecast period, the mobile application segment is projected to expand at the fastest pace. With the growing use of smartphones and the ease of access to application-based internet games, mobile fantasy sports are becoming more popular. The popularity and acceptance of competitive gaming has drawn more committed PC users, and the website-based is projected to grow rapidly. Manufacturers of computers and laptops are compelled to provide the most up-to-date high-performance processors and graphics cards for customization.
Safe and secure transactions and high transparency
All financial transactions on sports fantasy sites are protected by secure payment gateways, giving players more confidence. Furthermore, the platforms provide greater openness by allowing users to see teams made by their competitors, as well as showing the amount of money available at the start of the game and the money to be won by different rank holders in a tournament. As a result, there is open rivalry among users. Consumer confidence in fantasy sports platforms is increased by high transparency, fair playing norms and laws, and safe payment channels.
COVID-19 pandemic and technological advancements
The COVID-19 pandemic has resulted in a significant increase in the number of players. During lockdowns and restrictions, online gaming platforms have become one of the most popular means of entertainment. Furthermore, technological advancements such as the merging of analytics and blockchain have the potential to radically alter the industry's operations. The fantasy sports market share is expected to grow significantly during the projection period, thanks to increased advertising monitoring, digital expenditure, technical upgrades, and online customer surveys.
Data security issues and COVID-19 pandemic laws
Real-time sporting events were halted for a few months due to COVID-19 laws, which had a negative impact on the market. In addition, the absence of technical infrastructure in developing nations, as well as the lack of payment transfer and data security, may stymie industry expansion.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Fantasy Sports Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global Fantasy Sports Market in North America held the largest market share in the year 2020. In terms of revenue, North America was the most important fantasy sports market. During the projected period, demand for fantasy sports contests in the United States and Canada stays at an all-time high, owing to a growing love for the fantasy sports industry and an increase in tech-savvy customers. Due to a growing interest in a variety of sports categories and an infusion of international vendors, European economies are also seeing increased demand.
Global Fantasy Sports Market is further segmented by region into:
Fantasy Sports Segments:
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