Fantasy Sports Market Size, Share, Industry Research

The Fantasy Sports Global Market Report 2023 by The Business Research Company, provides fantasy sports market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Fantasy Sports Global Market Report 2023, the market size will grow from $25.44 billion in 2022 to $28.96 billion in 2023 at a compound annual growth rate (CAGR) of 13.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global fantasy sports is expected to grow to $40.88 billion in 2027 at a CAGR of 9.0%.

The increasing youth population is contributing to the growth of the fantasy sports market. The present youth spending more and more time on smartphones and, by extension, social media, and fantasy sports has provided them with the possibility to connect and have more enjoyable conversations and competitions with their peers.

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The fantasy sports market is segmented:

1) By Sports Type: Football, Baseball, Basket Ball, Hockey, Cricket, Other Types

2) By Platform: Website, Mobile Application

3) By Usage Type: Free, Paid, Hybird

4) By Application: Individual Competition, Team Competition

Artificial intelligence is a key trend gaining popularity in the fantasy sports market as it can help a player to focus on the decisions that matter such as whom to start with and which players to trade. Artificial intelligence (AI) is the capacity of a computer or a robot operated by a computer to do activities that normally involve human intelligence and discernment. Major players operating in the fantasy sports sector are focused on artificial intelligence technology to reduce the complexities in fantasy sports trading. For instance, in September 2020, IBM and ESPN introduced a new fantasy football app feature that uses IBM Watson’s artificial intelligence to generate fair transactions and keep players informed. The feature develops on ESPN and IBM’s efforts to use artificial intelligence to make fantasy football more interesting (AI).

The fantasy sports market report table of contents includes: