The global fantasy sports industry is on the precipice of explosive growth, with projections indicating it will soar past the US$ 44.87 billion mark by 2030. The full report is available via this link.
The report forcasts an impressive compound annual growth rate (CAGR) of 14.80 percent from 2023 to 2030. The 2022 fantasy sports market’s valuation already reached a substantial US$ 24.39 billion, a clear indicator of the industry’s robust trajectory.
Factors driving growth
Research findings indicate the growing appeal of sports leagues, including niche sports like badminton and volleyball together with the rising levels of fan engagement as pivotal factors driving the fantasy sports market’s expansion. Sports betting’s steady rise and growing interest across various sports leagues are perpetuating the market’s ongoing growth.
North America takes the lead
North America emerges as the frontrunner in the fantasy sports market, poised for a remarkable CAGR of 10.4 percent over the next seven years. With daily fantasy sports operations in 45 states and thriving fantasy sports betting scenes in Canada and Mexico, North America remains at the forefront. Furthermore, Europe is set to witness significant growth over the forecast period. The international presence of powerhouse leagues like the NFL, MLB and NBA is expected to bolster European fantasy sports growth.
New games and international leagues
The study not only scrutinized regions but also segmented the global fantasy sports market based on sports types, demographics, and platforms. While football remains the kingpin in global fantasy sports, other sports such as cricket, basketball, hockey, volleyball, and more are carving out vital roles in the industry’s ongoing global expansion. Europe’s inclusion in the NFL’s international roadmap, with games in London and Munich, underscores the international leagues’ commitment to the global fantasy sports arena.
As the B2B gaming industry takes note of this meteoric rise, the daily fantasy sports market presents itself as a key player in the ever-evolving landscape of sports and gaming, offering a wealth of opportunities for those who dare to participate.
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