Connect with us

Technology

Fantasy Sports Market size is set to grow by USD 9.72 billion from 2024-2028, Launch of various apps for fantasy sports boost the market, Technavio

Published

2 months ago

on

NEW YORK, July 19, 2024 /PRNewswire/ — The global fantasy sports market size is estimated to grow by USD 9.72 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  7.05%  during the forecast period. Launch of various apps for fantasy sports is driving market growth, with a trend towards use of fantasy sports for brand promotion. However, uncertain future of fantasy sports and ill effects of gaming on health  poses a challenge. Key market players include APKMozo.com, Blitz Studios Inc., Dream Sports, FantasyPros.com, Fantrax, Flutter Entertainment Plc, Fox Corp., GamesKraft Technologies Pvt. Ltd., GDC Media Ltd., Head Digital Works Pvt. Ltd., i3 Interactive Inc., MyTeam11, NFL Enterprises LLC, Paramount Global, Playerzpot Media Pvt Ltd, Premier League Ltd., RealTime Fantasy Sports Inc., Sachar Gaming Pvt. Ltd., Sorare, and Yahoo.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Fantasy Sports Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.05%

Market growth 2024-2028

USD 9.72 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.76

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 37%

Key countries

US, Canada, Mexico, China, and UK

Key companies profiled

APKMozo.com, Blitz Studios Inc., Dream Sports, FantasyPros.com, Fantrax, Flutter Entertainment Plc, Fox Corp., GamesKraft Technologies Pvt. Ltd., GDC Media Ltd., Head Digital Works Pvt. Ltd., i3 Interactive Inc., MyTeam11, NFL Enterprises LLC, Paramount Global, Playerzpot Media Pvt Ltd, Premier League Ltd., RealTime Fantasy Sports Inc., Sachar Gaming Pvt. Ltd., Sorare, and Yahoo

 

Market Driver

Many prominent brands have adopted fantasy sports as a marketing strategy. Unilever’s Dove Men+Care launched a fantasy football hub, offering exclusive football advice from ESPN analysts to consumers. Toyota sponsors Yahoo fantasy football league recaps, while Hilton provides free-entry fantasy racing contests for hotel honors club members. Brands target high-income customers aged 25 to 50 through this platform. This trend is anticipated to persist, contributing significantly to the expansion of the global fantasy sports market in the coming years. 

The Fantasy Sports Market is experiencing significant growth, with popular sports leagues and tournaments like the NFL, Premier League, IPL, and more driving fan engagement. Fantasy sports platforms are thriving in the online gaming sector, thanks to high-speed internet and mobile applications. Football, baseball, basketball, hockey, cricket, and other sports are all represented in this industry. User interfaces and social interaction are key features, with daily fantasy contests, virtual trading, and gameplay at the heart of the experience. The market is also exploring trends like eSports, virtual reality (VR), and augmented reality (AR). Secure payment methods are essential for fantasy sports platforms, with blockchain-based apps and one-time payments becoming increasingly popular. Freemium models, in-app purchases, advertising, and premium subscriptions are common revenue streams. However, the industry faces challenges, including illegal sports betting and online gambling. NFT-based games, like Reignmakers and Fantasy Football, are emerging trends in this space. Sports like soccer, FIFA, badminton, and football (rugby) are also gaining traction. The market is continually evolving, with new technologies and trends shaping its future. 

Discover 360° analysis of this market. For complete information, schedule your consultation – Book Here!

Market Challenges

The fantasy sports market experiences constant fluctuations, with companies like FanDuel and DraftKings rising to billion-dollar revenues, despite initial obscurity. However, their business models faced legal challenges in 2015 due to gambling concerns. Consumer protection became a priority, impacting market growth. Gaming addiction leads to health issues, such as carpal tunnel syndrome, headaches, migraines, sleep disturbances, chronic back pain, and unhealthy eating patterns contributing to childhood obesity. Increasing awareness of these health risks is causing some gamers to limit their participation, negatively affecting the fantasy sports market’s growth during the forecast period.The Fantasy Sports Market encompasses various challenges in the mobile application sector, including Football, Baseball, Basketball, Hockey, Cricket, and more. Platforms like Reignmakers and NFT-based games are revolutionizing the industry with Virtual Reality (VR) and Augmented Reality (AR) technology. The Online Gaming Business thrives in secure payment methods, utilizing Blockchain-based apps and Fantasy chatbots. Illegal sports betting and online gambling pose challenges, but One Time Payment and Freemium models offer solutions. Internet penetration drives growth in Sports Tech, employing Software engineers, Data scientists, and Cyber security professionals. Sports viewership increases with Sponsorships and Online sports gambling on mobile devices and the Internet. Pay-per-download, Subscription services, and In-app advertisements generate revenue. Sensor Tower data reveals trends in this dynamic market.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This fantasy sports market report extensively covers market segmentation by  

Product 1.1 Fantasy soccer1.2 Fantasy baseball1.3 Fantasy basketball1.4 Fantasy football1.5 OthersPlatform 2.1 Mobile application2.2 WebsiteGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Fantasy soccer-  Fantasy soccer is a popular game where participants build teams of real-life soccer players and earn points based on their on-field statistics. This game includes eleven players in four positions. Soccer’s global appeal fuels the fantasy soccer market’s growth. Notable leagues include Draft Fantasy Football, McDonald’s FIFA World Cup Fantasy, Fantasy Premier League, and UEFA Champions League Fantasy Football. The market’s expansion is anticipated to increase during the forecast period due to benefits like unlimited pre-season transfers, capped in-season transfers, and variable transfer fees based on player performance. The growing number of viewers on digital platforms is also a positive factor.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global sports tourism market is witnessing significant growth driven by increasing fan engagement and major sporting events. Simultaneously, the sports betting market is expanding rapidly due to the legalization of sports betting in various regions and advancements in digital platforms. The sports sponsorship market is also thriving, with brands leveraging high-profile sports events to enhance visibility and consumer engagement. Together, these markets are transforming the sports industry, creating new opportunities for stakeholders and driving substantial economic impact globally.

Research Analysis

The Fantasy Sports Market is a thriving online gaming business that allows fans to engage with their favorite sports leagues and teams in a unique way. With the increasing popularity of the NFL, Premier League, IPL, and other global tournaments, the market for fantasy sports is experiencing exponential growth. High-speed internet and smartphones have made it easier than ever to access fantasy sports platforms and participate in real-time. Fantasy sports platforms offer secure payment methods, ensuring a safe and enjoyable experience for users. The latest innovations include blockchain-based apps and fantasy chatbots, providing enhanced security and convenience. However, the industry also faces challenges such as illegal sports betting and the need to comply with regulations. Sports Tech companies are at the forefront of developing new software and hiring software engineers and data scientists to analyze player statistics and create accurate projections. With the increasing internet penetration in emerging markets, the fantasy sports market is poised for even greater expansion. Baseball, Cricket, Football (rugby), and Volleyball are just a few of the many sports that have a dedicated fan base in the fantasy sports community.

Market Research Overview

Fantasy sports markets have seen explosive growth in recent years, fueled by the popularity of sports leagues and tournaments across the NFL, Premier League, IPL, and more. Fans engage with fantasy sports platforms through high-speed internet and online gaming, enjoying gameplay on user-friendly interfaces that offer social interaction and daily fantasy contests. Virtual trading in football, baseball, basketball, hockey, cricket, and other sports is a major draw, with mobile applications and virtual reality (VR) and augmented reality (AR) experiences adding to the excitement. The online gaming business is booming, with secure payment methods and blockchain-based apps ensuring safety and transparency. NFT-based games like Reignmakers and Fantasy Football are also gaining traction. However, illegal sports betting and online gambling pose challenges, with one-time payment, freemium, website, in-app purchases, advertising, and premium subscriptions all part of the business model. Sports tech companies employ software engineers, data scientists, and cyber security professionals to develop innovative solutions, while badminton, football (rugby), volleyball, and other sports also have their dedicated fan bases. Internet penetration and sports viewership continue to drive growth, with sponsorships and online sports gambling adding revenue streams. Mobile devices and the internet are essential tools for accessing these services, with pay-per-download, subscription services, and in-app advertisements providing additional revenue opportunities. Sensor Tower reports that the mobile application sector is a key driver of growth in the fantasy sports market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductFantasy SoccerFantasy BaseballFantasy BasketballFantasy FootballOthersPlatformMobile ApplicationWebsiteGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/fantasy-sports-market-size-is-set-to-grow-by-usd-9-72-billion-from-2024-2028–launch-of-various-apps-for-fantasy-sports-boost-the-market-technavio-302200664.html

SOURCE Technavio

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

The Nevermore Haunt Returns for a Terrifying 2024 Season

Published

50 mins ago

on

September 27, 2024

By

Get ready to face your darkest fears as The Nevermore Haunt, Maryland’s most terrifying haunted attraction, announces its return for the 2024 season. This year’s haunt promises to be more chilling, more intense, and more unforgettable than ever before.

BALTIMORE, Sept. 27, 2024 /PRNewswire-PRWeb/ — Get ready to face your darkest fears as The Nevermore Haunt, Maryland’s most terrifying haunted attraction, announces its return for the 2024 season. This year’s haunt promises to be more chilling, more intense, and more unforgettable than ever before.

“We’re doing some really cool things with special effects that you won’t see anywhere else. I think customers are going to be really impressed with some of the new surprises we have in store for them this year.”

Prepare to be transported into a world of macabre visions as you navigate through The Nevermore Haunt’s meticulously crafted sets. With new scares, terrifying twists, and spine-tingling surprises around every corner, this year’s haunt is not for the faint of heart.

Key features of the 2024 season include:

New Haunting Scenes: Experience never-before-seen terrors as The Nevermore Haunt introduces thrilling new attractions.Enhanced Special Effects: Immerse yourself in a world of chilling illusions and sensory overload with cutting-edge special effects.Expertly Trained Actors: Encounter terrifying characters brought to life by talented and dedicated actors who will push the boundaries of fear.Live Sideshow Entertainment: Enjoy thrilling live performances that will amaze and astound you before you enter the haunt.Food and Drink: Indulge in delicious food and refreshing beverages at the on-site food trucks and bar.

Don’t miss out on the most terrifying Halloween event in Maryland. Purchase your tickets now and prepare to be haunted!

Visit our website for more information and to buy tickets: thenevermorehaunt.com

About: The Nevermore Haunt is a top haunted house in Maryland, offering a terrifying and unforgettable experience for visitors of all ages. With its immersive themes, talented actors, and cutting-edge special effects, The Nevermore Haunt has become a beloved Halloween tradition for locals and visitors alike.

Media Contact

Tom Wingate, The Nevermore Haunt, 1 4106963313, info@thenevermorehaunt.com, https://thenevermorehaunt.com/baltimore-haunted-attractions/

View original content to download multimedia:https://www.prweb.com/releases/the-nevermore-haunt-returns-for-a-terrifying-2024-season-302258310.html

SOURCE The Nevermore Haunt

Continue Reading

Technology

Premiere of new Pimax VR headset at TGS2024

Published

50 mins ago

on

September 27, 2024

By

TOKYO, Sept. 27, 2024 /PRNewswire/ — Since expanding into the Japanese market, Pimax has quickly made waves, fostering collaborations with local distributors and major gaming companies. At the Tokyo Game Show (TGS) 2024, held from Septemeber 26th to 29th, Pimax introduced its latest flagship product—the Pimax Crystal Light and the Wireless 60G AirLink.

Pimax is a leading innovator in the virtual reality (VR) industry, operating in 72 countries and specializing in professional-grade VR headsets for mid- to high-end users. Their VR headsets are tailored for a range of sectors, including entertainment, industrial applications, and medical fields. At booth #10-C10, Pimax engaged visitors with immersive demonstrations of popular games such as iRacing, VR Chat, and Half-Life: Alyx. Attendees were particularly impressed by the Crystal Light’s stunning visual clarity and comfortable design, reinforcing its position as a new benchmark in the VR industry. Its booth also attracted widespread attention from prominent media outlets such as Nikkei News, Ubisoft, BicCamera, MOZA, DELE, and the official TGS team, as well as key industry partners and influencers.

Pimax Crystal Light boasts a cutting-edge 35 PPD high-definition display (2880 x 2880 resolution per eye) and is the first VR headset globally to feature glass lenses, offering an unparalleled visual experience. Its FFR 2.0 rendering technology further reduces system demands, making high-quality VR more accessible. Notably, during the recent Microsoft Flight Simulator 2024 preview event, the Pimax Crystal Light was selected as the preferred VR headset for the demonstration, highlighting its growing recognition and credibility within the VR community.

Additonally, Pimax Japan’s Marketing Manager, Leo Guo, also introduced the Wireless 60G AirLink, a highly anticipated product that leverages cutting-edge 60G technology for ultra-fast data transmission, low latency, and impressive bandwidth—eliminating the need for a DP cable. According to Lay Zhang, Pimax’s General Manager for the APAC region, this product is now available for pre-order and is expected to launch in the coming months.

 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/premiere-of-new-pimax-vr-headset-at-tgs2024-302260825.html

SOURCE Pimax Innovation Inc.

Continue Reading

Technology

Moomoo Malaysia Becomes First to Launch US Options Trading in Malaysia, Expanding Access to Global Markets

Published

50 mins ago

on

September 27, 2024

By

KUALA LUMPUR, Malaysia, Sept. 27, 2024 /PRNewswire/ — Moomoo Securities Malaysia Sdn. Bhd. (Moomoo Malaysia) is proud to announce it has become the first platform in Malaysia to offer US Options trading, marking a major milestone in the Malaysian financial market. This significant expansion of Moomoo’s product offerings follows the announcement at the recent #MerdekaBersamaMoofest and continues the company’s commitment to provide Malaysians with broader access to global financial markets.

With the introduction of US Options, Moomoo Malaysia is offering investors the ability to trade options on some of the world’s largest and most prominent companies listed on the US stock exchanges. This new feature will allow users to diversify their investment strategies, hedge positions, and gain more control over their portfolios by leveraging options trading strategies.

Empowering Malaysian Investors with Advanced Tools

According to Moomoo Malaysia’s recent Retail Investor Sentiment Survey, 33% of Malaysian investors are actively looking to global markets as part of their strategy to diversify their portfolios, while 37% of Malaysian investors are focusing on high-growth sectors such as technology, artificial intelligence (AI), and finance, especially in global markets like the US. With US Options trading now available, moomoo provides a timely and effective solution for Malaysian investors to gain exposure to the world’s largest market, offering them the tools to navigate both local and international financial opportunities.

Ivan Mok, Chief Executive Officer of Moomoo Malaysia said, “We’re thrilled to be the first in Malaysia to introduce US Options trading. This is a transformative step for the local investment landscape, giving our users access to sophisticated financial tools typically available in more mature markets. With the ability to trade options on major US companies, our users can now tailor their investment strategies to both protect their portfolios from volatility and capitalize on global growth sectors like tech and AI. This is an important step for Malaysian investors looking to diversify beyond traditional stocks and gain access to some of the world’s largest markets.”

He added, “What sets moomoo apart is not just the access to US Options but the complete ecosystem we provide—integrated educational resources, advanced data, and analysis tools. We want to ensure our users, whether they are new to options trading or seasoned investors, can confidently execute their strategies with the support they need at every step.”

Lowering Barriers through Greater Investor Support

In line with its mission to empower investors, Moomoo Malaysia will continue to offer comprehensive educational resources designed to help users of all levels understand the intricacies of US Options trading. These resources include in-depth guides, real-time market data, active community forums, as well as interactive webinars hosted by industry experts, all available within the moomoo app.

From a community standpoint, Malaysian investors have the opportunity to tap into a shared, collaborative space on the moomoo app via the “Moo Community”, which hosts over 23.8 million investors worldwide. The launch of US Options trading will encourage greater discussions on portfolio management and diversification strategies, through valuable community insights into market trends and investment strategies.

Since its launch in February 2024, Moomoo Malaysia has rapidly become the leading digital investment platform in the country, gaining its first 100,000 clients within 6 weeks of their debut. The platform was also recently voted as the ‘Best Up and Coming Digital Investment Platform’ in Malaysia at the recent PC.com 2024 Readers Choice Award, a recognition of Moomoo’s commitment to the local investment landscape by providing greater accessibility and unparalleled resource access. This latest development further strengthens Moomoo Malaysia’s position as a pioneer in the financial technology space, continuously setting new benchmarks for the local investment scene.

For more information on the new US Options trading service on Moomoo Malaysia, please visit https://www.moomoo.com/my/promotion/us_options.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/moomoo-malaysia-becomes-first-to-launch-us-options-trading-in-malaysia-expanding-access-to-global-markets-302260826.html

SOURCE Moomoo Malaysia

Continue Reading

Trending