In the past years, the fantasy sports market has experienced noteworthy growth. Analysts expect it to increase from $25.43 billion last year to $28.41 billion this year. It reflects a CAGR or compound annual growth rate of 11.8%. This growth can be attributed to several factors. These include the widespread adoption of the internet and mobile devices. The rising popularity of major sports leagues also plays a role. Additionally, enhanced social connectivity, the expansion of interactive platforms, and greater accessibility across various platforms are key contributors.
The Business Research Company forecasts rapid growth for the fantasy sports market in the coming years. It will grow to $47.02 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%.
Projections suggest the fantasy sports market will reach $47.02 billion by 2028, indicating substantial growth in the coming years. It grows at a CAGR or compound annual growth rate of 13.4%. This growth rate is expected to be driven by several factors. These include the introduction of new sports and improved user engagement features. The rise of gamification elements and the legalization and regulation of fantasy sports will also contribute. Additionally, deeper integration with social media is expected to play a key role.
In the coming years, the growing use of social media is expected to drive the growth of the fantasy sports market. Social media includes online platforms and technologies that allow users to create, share, and exchange content, information, and ideas within virtual communities. These platforms provide a space for fans to interact, share experiences, and form communities. They also facilitate real-time discussions, team interactions, and updates, all of which enhance the overall fantasy sports experience and boost user engagement.
Key players in the fantasy sports market include ESPN Inc., FanDuel Group, DraftKings Inc., CBS Sports, Dream Sports, PlayON Fantasy Sports, Mobile Premier League, PlayUp Limited, PrizePicks, RotoWire.com, LLC, Bovada, FantasyPros, Good Gamer Corporation, Fantrax LLC, Sleeper, Boom Sports, Battlefy Inc., MyFantasyLeague.com, 11Wickets, Sofa Superstars, WinView Games, SportTechie, Baazi Games, NFL Fantasy Football, Yahoo Fantasy Sports, NBC Sports Edge, Fox Sports Fantasy Football, Victiv, Draft Team Fantasy Sports, Sportito, Own The Play, and FSM Fantasy Sports.
