NEW YORK, April 26, 2021 /PRNewswire/ —
The global fantasy sports market by type (fantasy soccer, fantasy baseball, fantasy basketball, fantasy football, and other sports) and geography (APAC, Europe, MEA, North America, and South America) has been added to Technavio’s offering. The global fantasy sports market is expected to grow by USD 6.28 billion, at a CAGR of over 7% during 2020-2024.
The COVID-19 pandemic affected the growth of various industries, commercial activities, and sports. This led to the postponement of major leagues that reduced the revenue of fantasy sports vendors, which hindered the growth of the market in 2020. However, the launch of various apps for fantasy sports is expected to increase the revenue of market vendors, thereby positively influencing the market growth.
The market is expected to be driven by factors such as the launch of various apps for fantasy sports and the increasing number of sports leagues.
Fantasy Sports Market: Opportunities
The gaming market has grown significantly over the years. Many companies are promoting eSports, which is encouraging new gamers to take up gaming as a profession. Besides, the rising number of esports tournaments is expected to create significant growth opportunities in the market during the forecast period.
Fantasy Sports Market: Segmentation by Type
Based on the segmentation by type, the market generated maximum revenue in the fantasy soccer segment in 2019. The segment is mainly driven by the facilities that fantasy soccer players receive. Fantasy sports websites allow users to transfer their players multiple times. Some websites allow the unlimited transfer of players during a season. Many such benefits are fostering the growth of the fantasy soccer segment.
Fantasy Sports Market: Segmentation by Geography
North America held the largest market share in 2019 and the market growth in the region is expected to be slower compared to the growth of the market in MEA and APAC. Factors such as the increasing number of players, the rising popularity of football, and the strong presence of internet infrastructure are expected to drive the growth of the fantasy sports market in North America during the forecast period.
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Fantasy Sports Market: Major Vendors
The company provides DraftKings soccer, a virtual environment where the players assemble imaginary or virtual teams of real soccer players. The company also offers DraftKings MMA, a virtual environment where the players assemble imaginary or virtual teams of real MMA players.
Sporta Technologies Pvt. Ltd.
The company provides a multi-sport aggregator platform for every sports fan offering a wide spectrum of content, commerce, and community…
Go to the news source: $ 6.28 Billion Growth Expected in Fantasy Sports Market | COVID-19 Impact Analys…