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Reportlinker has announced the publication of “Fantasy Sports Global Market Report” 2023
At a compound annual rate of 13.9%, the global fantasy sports market grew to $25.44 billion by 2022 and $28.96 billion by 2023. In the short-term, the Russia-Ukraine conflict has hampered global economic recovery from COVID-19. These two warring countries have led to economic sanctions against multiple countries and an increase in commodity prices and supply chain disruptions. This has caused inflation across many markets and affected many countries around the world. At a 9.0% CAGR, the fantasy sports market will grow to $40.88 Billion in 2027.
The market value for fantasy sports includes revenue earned by entities operating E-sports facilities. It also includes related goods that are sold by the service provider, or included in the service offering.
This includes 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 play virtual games or seasons of leagues. These teams compete on the basis of their statistical performance in real games.
Fantasy sports allow players to earn points based upon real-life statistics which are then converted into fantasy points. Fans take on the role of general manager and field manager of their team. They draft players and make deals to put together teams that will produce the best statistical output.
North America was the largest fantasy sports market region in 2022. Asia-Pacific is expected be the fastest in the forecast period.
The report covers the regions of Asia-Pacific, Western Europe and Eastern Europe.
There are many types of fantasy sports, including football, basketball, hockey and cricket.
Fantasy baseball allows players to play the role of owners and general managers for virtual Major League Baseball teams. Fantasy basketball lets players draft actual National Basketball Association players, based on their basketball statistics.
Fantasy hockey allows players to build their own teams. These teams are created using statistics from professional hockey players.
There are three types of usage: paid, free and hybrid. It can be used on a variety of platforms, including websites and mobile applications. It can be used in individual or team competitions.
Fantasy sports are growing because of the increasing number of youth.
The World Youth Report (2020) estimates that there are 1.2 billion people between 15 and 24 years old, which accounts for 16% of the world’s population. The world’s young population will increase by 7% to 1.33 billion by 2030. The growing youth population drives the growth of fantasy sports.
Artificial intelligence is a popular trend in fantasy sports. It can help players focus on the important decisions such as who to trade with and whom to start with.
Major players in the fantasy sport sector are focusing on artificial intelligence technology to simplify trading. For example, ESPN and IBM introduced a new feature for their fantasy football app in September 2020 that utilizes IBM Watson’s artificial Intelligence to generate fair transactions and keep the players informed.
This feature is based on ESPN’s and IBM’s efforts (AI) to make fantasy football more exciting.
Bally’s Corporation, a US-based betting company, acquired Monkey Knife Fight for an undisclosed sum. This acquisition advances the company’s long term growth strategy and diversification strategy in order to become the USA’s first vertically integrated sports betting, iGaming and betting company with a B2B2C model.
Monkey Knife Fight is a North American fantasy sports gaming site.
The report covers Australia, Brazil and China as well as India, Indonesia, Japan (South Korea), UK and USA.
Market value refers to the revenue that businesses receive from the sale or grant of goods or services in the specific market and geographic area. It is expressed in USD unless otherwise stated.
Revenues for a specific geography are the consumption values, which are revenues that organizations generate in the region. It doesn’t include revenues from resales down the supply chain.
This report provides statistics on the fantasy market, including market share, global market size, regional shares, competition, fantasy market share, detailed segments of the market, market trends, opportunities and any other data that may be required to succeed in this industry. This fantasy market research report provides a comprehensive overview of all aspects of the industry, including an analysis of its future and current situation.
