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Reportlinker has released the report “Fantasy Sports Global Market Report, 2023”.
The global fantasy sport market grew by 13.9% annually from 25.44 billion dollars in 2022 to 28.96 billion dollars in 2023. At least in the short-term, the Russia-Ukraine conflict has disrupted global economic recovery after the COVID-19 Pandemic. The conflict between Russia and Ukraine has caused economic sanctions to be imposed on many countries, as well as a rise in commodity prices and disruptions in supply chains, which have led to inflation of goods and services across markets around the world. The fantasy sports industry is predicted to reach $40.88 billion by 2027, with a CAGR 9.0%.
The market value includes goods and services sold by service providers or included in the service.
Included are only goods and services that are traded between entities, or sold directly to consumers.
Fantasy sports are also known as rotisserie or roto. They allow players to compete in a virtual league or game.
In fantasy sports, players earn points based upon real-life statistics which are then converted into fantasy points. Fans take on roles as both general manager and team manager, assembling their squads through drafts and deals, and putting together lines in order to achieve the best statistical output.
North America was expected to be the fastest-growing region during the forecast period.
The report covers Asia-Pacific as well as Western Europe, Eastern Europe and North America. It also includes South America, the Middle East, Africa, North America and South America.
Fantasy football is a game where people compete as virtual club managers against each other.
Fantasy basketball is where players create their own fantasy teams by drafting players from the National Basketball Association based on their basketball stats.
Fantasy Cricket is a strategy-based online game that requires players to build a virtual team consisting of real cricketers who are playing real matches in different parts of the world. Points are awarded based upon how these players perform during real matches.
It is available in different platforms, including mobile applications, websites, and hybrid. The game is played in both team and individual competitions.
Fantasy sports are growing because of the increasing number of youth. Youth spend more time on their smartphones, which is a direct result of social media. Fantasy sports have given them the opportunity to communicate and compete with others.
According to the World Youth Report 2020, there were 1.2 Billion young people between 15 and 24 years old. This represents 16% of global population. The world’s youth population is predicted to grow by 7%, to 1.3 billion people, by 2030. The growing youth population is driving the growth of fantasy sports.
Artificial intelligence (AI), also known as computer-controlled robots, is the ability of a computer system to perform tasks that would normally require human intelligence.
The major players in the fantasy sport sector are focusing on artificial intelligence technologies to reduce the complexity in fantasy sports trading. For example, IBM and ESPN launched a new fantasy soccer app feature in September 2020 that uses IBM Watson’s artificial intelligence for fair transactions and to keep players informed.
This article focuses on the efforts of ESPN and IBM to use artificial Intelligence to make fantasy soccer more interesting.
Bally’s Corporation is a US-based gambling firm that acquired Monkey Knife Fight in January 2021 for an undisclosed sum. The acquisition advances Bally’s growth and diversification strategies to become the USA’s first vertically integrated sports betting, iGaming and B2B2C company with a business model.
Monkey Knife Fight is a fantasy sports website based in North America.
The report covers Australia, Brazil China France Germany India Indonesia Japan South Korea UK and USA.
Market value is the amount of revenue that an enterprise gains from selling goods or services in a specific market and geographic area, whether through grants, sales, or donations.
Revenues for a specific geography are the consumption values, which are the revenues generated by the organizations within that geography in the market. This is regardless of where the products are produced. This does not include revenue from resales in the supply-chain, whether further down the chain or as a part of another product.
This fantasy sports research report is part of a new series that includes fantasy sport statistics. These include global fantasy sports markets, regional market shares, fantasy sports competitors, fantasy sports segments in detail, market trends, opportunities and other data. This fantasy sports research report provides a comprehensive view of all you need with an in-depth look at the industry’s current and future state.
