New York, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fantasy Sports Global Market Report 2021: COVID-19 Growth And Change" - https://www.reportlinker.com/p06130526/?utm_source=GNW
The global fantasy sports market is expected to grow from $20.36 billion in 2020 to $22.31 billion in 2021 at a compound annual growth rate (CAGR) of 9.5%. The growth is mainly due to the increasing youth population, growth in digital infrastructure, availability of affordable smartphones, increasing popularity of players in various sports, growing investment in internet infrastructure and the launch of fantasy sports applications. The market is expected to reach $38.60 billion in 2025 at a CAGR of 14.7%.
The fantasy sports market consists of sales of fantasy sports services by entities (organizations, sole traders, and partnerships) that are engaged in providing online gaming and betting services.Fantasy sports, often known as rotisserie sports or roto, are any of a variety of games that allow a player to play a virtual game or a virtual season of a league.
These teams compete based on the statistical performance of those players in actual games.In fantasy sports, a player earn points based on real life statistics that are converted into fantasy points.
The fans take on the roles of both general manager and field manager for their team, assembling a squad through a draft and deals and putting together lineups in desire of the highest statistical output.
The main types of fantasy sports are football, baseball, basketball, hockey, cricket, and others.Fantasy football is an interactive game in which people battle as general managers of virtual clubs against one another.
Fantasy baseball is a game in which the participants serve as owners and general managers of virtual baseball teams of real Major League baseball players.Fantasy basketball is a game in which the players take the role of general managers of the fantasy teams they create from drafting actual National Basketball Association players based primarily on their basketball statistics.
Fantasy hockey is a game where players build a team that competes with other players who do the same, based on the statistics generated by professional hockey players or teams where the majority of fantasy hockey pools are based on the teams and players of the ice hockey National Hockey League.Fantasy Cricket is an online game based on strategy where a player have to create a virtual team of real cricketers playing in real matches around the world and points are scored depending on how those players perform in real-life matches.
The different usage types include free, paid, hybrid and is implemented in various platforms such as website, mobile application. It is used in both individual and team competitions.
North America was the largest region in the fantasy sports market in 2020.Asia Pacific is expected to be the fastest region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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).
In January 2021, Bally’s Corporation, a US-based gambling company acquired Monkey Knife Fight (MKF) for an undisclosed amount.The acquisition makes Bally’s the third sports betting company in the USA to have a fantasy sports segment, and advances the company’s long-term growth and diversification strategy to become the first truly vertically integrated sports betting and iGaming company in the USA with a B2B2C business model.
Monkey Knife Fight (MKF) is a North America-based fantasy sports gaming website.
The increasing youth population is contributing to the growth of the fantasy sports market.With the present youth spending more and more time on smartphones and, by extension, social media, and fantasy sport has provided them with the possibility to connect and have more enjoyable conversations and competitions with their peers.
According to the United Nations population projections, there were 1.2 billion people aged 15 to 24 in the globe in 2019, or around one in every six people. By 2030, the world’s young population is expected to increase by 7% to 1.3 billion. Thus, the increasing youth population propels the growth of the fantasy sports market.
The countries covered in the fantasy sports market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06130526/?utm_source=GNW
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