Launch Of Various Apps To Boost The Fantasy Sports Market Growth

The fantasy sports market is expected to grow by USD 9.34 billion during 2020-2024, according to the latest market research report by Technavio.

The launch of various fantasy sports apps is one of the key factors behind the growth of the fantasy sports market growth. Fantasy sports applications enable a rich, comfortable, and better game experience. These applications allow players to join public leagues, create a private league, offer performance tracking, player rankings, material design, projections, mock drafts, and other features. With increasing internet penetration and smartphone adoption, the demand for fantasy sports apps will grow rapidly and contribute to the expansion of the global fantasy sports market size.

As per Technavio, the use of fantasy sports for brand promotion will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

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Fantasy Sports Market : Use Of Fantasy Sports For Brand Promotion

The use of fantasy sports for brand promotion is identified as one of the key fantasy sports market trends that will drive market growth. Several big brands are focusing on using fantasy leagues to market their products. These promotions include the purchase of advertising space, creation of hubs for exclusive access to analysts, and contest for hub members. These global brands use fantasy sports for promotion mainly to target high-income customers in the age range of 25 to 50 years. This influx of advertisers is expected to continue over the next few years and promote market growth.

“Factors such as the high Internet penetration, increasing popularity of e-sports, and the increasing number of sports leagues will have a positive impact on the growth of the fantasy sports market value during the forecast period,” says a senior analyst at Technavio.

Fantasy Sports Market: Segmentation Analysis

This market research report segments the fantasy sports market by type (fantasy soccer, fantasy baseball, fantasy football, fantasy baseball and other sports), and geography (APAC, Europe, MEA, North America and South America).

The MEA region led the fantasy sports market in 2019, followed by South America, Europe, APAC and North America. During the forecast period, the North America region is expected to register the highest incremental growth due to factors such as the increasing number of players and the popularity of football and strong Internet infrastructure.