Fantasy Sports Market: Introduction
- A fantasy sport, also called rotisserie sport or roto, is often played with the help of the internet on a computer or smartphone. A fantasy sport is an online game where participants gather virtually or in imaginary teams of real players of a professional sport. Virtual teams play based on the statistical performance of professional players in actual tournaments. This performance is transformed into points that are compiled and summed according to a roster selected by each fantasy team’s manager. The team manager’s key responsibilities include drafting, trading, and dropping of players.
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Key Drivers of the Global Fantasy Sports Market
- Rising consumer spending on recreational activities and growth in urban population are driving the demand for fantasy sports across the world. Furthermore, young consumers prefer fantasy sports as an alternative to other online games. Technology advancement and rising consumer awareness in untapped markets is expected to boost the growth of the fantasy sports market in the near future.
- Disposable income of millennial population has increased significantly during recent years. Thus, consumers are willing to spend on multiple entertainment alternatives. Affordable subscriptions of mobile-apps and low cost of internet is shaping consumer attitude and preference for innovative recreational activities such as fantasy sports. Moreover, key companies engaged in the development of fantasy sport platforms are designing more user-friendly and easy to understand mobile applications at reasonable membership charges.
Opportunity in the Global Fantasy Sports Market
- Transformations in internet infrastructure and rising government initiatives to support the digital economy is anticipated to offer significant opportunities to the fantasy sports market in the near future. This progress in digital infrastructure enables the availability of high speed internet to large consumers, helping in the adoption of fantasy sports. The option of playing the sport on a handheld device and at any given point irrespective of location and time has significantly helped user engagement around fantasy sports.
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COVID-19 Pandemic to Offer Significant Opportunities in the Coming Years
- The Covid-19 pandemic has affected the overall sports industry largely and so also the fantasy sports market. Many sports tournaments on the national and global level have been postponed or cancelled due to social distancing requirements and worldwide lockdowns. As a result, the fantasy sports market is facing major challenges.
North America Accounts for Dominant Share in the Fantasy Sports Market
- By geography, the global fantasy sports market is classified into South America (SA), North America (NA), Europe (EU), Middle East & Africa (MEA), and Asia Pacific (APAC).
- Country-level bifurcation of the North America market includes the forecast and analysis for the U.S., Canada, and Rest of North America. Country-level analysis and forecast for the Europe market includes historical and forecast analysis of the fantasy sports market in the U.K., Germany, France, and Rest of Europe. Country-level analysis and forecast for the Asia Pacific market includes major countries in the region such as India, China, Japan, and Rest of Asia Pacific. Middle East & Africa country-level analysis and forecast for the fantasy sports market includes GCC countries, South Africa, and Rest of Middle East & Africa. The South America fantasy sports market is categorized into Brazil, and Rest of South America.
- Favorable demographics and high consumer preference for fantasy sports are the key factors driving the growth of the market in North America. Fantasy football is widely preferred by American consumers. According to Fantasy Sports & Gaming Association, the number of fantasy sports players in the U.S. grew from 42 million in 2015 to 68.8 million in 2019.
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Key Players Operating in the Global Market
Key companies are investing in improved technology to offer user friendly platforms for fantasy sports. Strategic partnerships with digital companies, continuous upgrade, and aggressive marketing and promotions across different social media platforms are key strategies of industry players.
Some of the major companies identified in the global fantasy sports market include:
- Dream Sports Inc. (Dream 11)
- Reality Sports Online
- Hypometer Technologies
- Boom Fantasy
- DraftKings, Inc.
- The Walt Disney Company
- Sportech Inc.
Global Fantasy Sports Market: Research Scope
Global Fantasy Sports Market, by Sports Type
- Others (Hockey, etc.)
Global Fantasy Sports Market, by Platform
- Mobile Application
Global Fantasy sports Market, by Age Group
Global Fantasy sports Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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