$21.46 Billion Fantasy Sports Market is Driven by Youth Adoption Globally and Betting Culture in APAC; CAGR - 14.2%: Says Market Decipher

"The latest insights and forecasts have revealed new areas of profitability. Football, Rugby and Cricket are the largest contributors in the Global Sports Fantasy market and are anticipated to grow in the future. Globally, the Fantasy Sports industry has been showing healthy growth, with India being the fastest-growing FS markets with the largest user base at 13 crores, which is further expected to grow at a CAGR of 32 percent in the coming years. The country has become a high-growth, in-focus market due to a large tech-savvy millennial population base, growing affiliation with sports, rapid smartphone penetration, and the availability of low-cost mobile data; and is projected to grow from INR 34,600 crore in FY21 to an estimated INR 1,65,000 crore by FY25." 

Chandradeep Singh

Download 2022 Version Sample:  https://www.marketdecipher.com/report/fantasy-sports-market

"Despite Pandemic Setback, the Long-Term Prospect of Sports Fantasy Market Remain Positive"

The absence of major sports leagues and tournaments resulted in a huge turmoil for engaged stakeholders in the Sports Fantasy (FS) market. However, the disruption was short, market saw a major influx of new participants and well-funded new startups due to renewed interest brought on by the legalization of "sports betting" in the United States and with sports activities like IPL and French Open resuming along with many other sports leagues. Laws related to sports fantasy platforms are highly ambiguous in countries like Indonesia, Japan, Macau, Malaysia, Pakistan, Taiwan, and Vietnam. Absence of regulatory bodies along with ambiguous laws remains a major challenge for the engaged stakeholders in the sports fantasy industry.

"Technological Advancement and Launch of Various Apps"

Increasing internet penetration, availability of low-cost smartphones, and technological advancements among urban and rural populations have accelerated the growth of the sports fantasy market. A passionate fan base has appeared for the market, with an increasing number of people participating and competing in fantasy sports. Several platforms and applications are introduced in the market to help the users customize and analyze their players, allowing them to choose the right players for their teams based on data.

"India Emerging as the Biggest Fantasy Sports Market: New Sunshine Sector for APAC"

Fantasy sports user base grew 130% from 2016 to 2021. High smartphone penetration and low-cost data lead to growth. Cricket captures 85% of the revenue. Tier 2 and Tier 3 cities hold strong hold in the industry capturing 50% of the transactions. 60% of the user base fall in 25 to 40 years age bracket. Sports betting having circular effect on user making them more actively watch live sports. In a way FS is seeding the culture of sports in the country with more active and deeper involvement.

The fantasy sports industry is making huge economic inroads into India's overall growth and development in multiple ways - creating highly skilled jobs, attracting foreign direct investment (FDI) and generating significant revenue for the exchequer. Besides, it is also propelling sporting culture and giving a boost to non-cricket sports as people tend to hone knowledge to participate in fantasy sports contests. The emergence of fantasy sports has increased the popularity of various traditional sports like kabaddi, hockey, women's cricket and football. The Women's World Cup generated 4.1 Crore viewing hours in India, a 218% rise from 2018. Fantasy Sports is promoting constant fan-engagement across traditional and NextGen platforms, leading to a greater viewership and TRP, thereby attracting more sponsorship and the overall development of sports infrastructure. The key players in India's Fantasy Sports Market are Dream11, MyTeam11, Halaplay, Gamezy, etc.

"Fantasy Sports Market: Use of Fantasy Sports for Brand Promotion"

The growing popularity of fantasy sports is driving many brands to participate in fantasy leagues to market their products. For instance, Unilever launched its Dove Men+Care fantasy football hub. It provides consumers exclusive access to fantasy football suggestions and advice from ESPN analysts. Similarly, Hilton launched a free-entry fantasy racing contest for honors club members of hotel chains. The participation of such advertisers is expected to increase over the forecast period and is expected to promote the growth of the market.

The popularity of e-sports and the use of blockchain technology and cryptocurrencies in fantasy sports will further accelerate the growth of the market during the forecast period. "U.S./China combo dictates 65% of the market and India registers as the biggest emerging market"

Recent Developments:

Key Statistics

Customized Report can be procured on Request: https://www.marketdecipher.com/report/fantasy-sports-market

Report Details:

Number of Pages: 212

Number of Tables: 83

Number of Charts and Graphs: 96

Key Market Players in Fantasy Sports Market

Fantasy Sports Market Research Report Analysis Highlights

Purchase this report at https://www.marketdecipher.com/report/fantasy-sports-market

Other Trending Markets

Data Protection and Recovery Solution Market

Data-centric Security Market

Data Center Uninterruptible Power System (UPS) Market

Data Center Security Market

Data Center Infrastructure Management Market

Data Center Fabric Market

Artificial Intelligence in Drug Discovery Market

India Fantasy Sports Market

Contact:

David Correa
Decipher Business Insights Pvt. Ltd.
Zen Business Center,
Wakad, Mumbai- Bangalore Highway,
Pune - 411057, Maharashtra
[email protected] 
Website: www.marketdecipher.com

Logo: https://mma.prnewswire.com/media/1854377/Market_Decipher_Logo.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/21-46-billion-fantasy-sports-market-is-driven-by-youth-adoption-globally-and-betting-culture-in-apac-cagr---14-2-says-market-decipher-301631923.html