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Portlnad, OR, November 5, 2020 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the global fantasy sports market was estimated at $ 18.6 billion in 2019 and is projected to reach $ 48.6 billion by 2027, recording a CAGR of 13.9% from 2021 to 2027. The report provides a detailed analysis of key investment pockets , the best winning tricks, drivers and opportunities, market size and estimates, competitive landscape and fluctuating market trends.
Expansion of digital infrastructure in addition to declining data prices, increased investment by investors in fantasy sports, partnerships of fantasy sports platforms with sports leagues, supporting infrastructure and social media platforms, and transparency in monetary transactions which results in increased user engagement and comfort fuel the growth of the global fantasy sports market. On the other hand, the lack of awareness of fantasy sports platforms among the gaming audience limits growth to some extent. However, the growing adoption of advanced technologies is expected to create profitable opportunities in the industry.
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Covid-19 scenario
- With more and more people staying at home during this pandemic, the demand for the online gaming platform has increased significantly.
- The fact that fantasy sports do not involve physical interaction with other players and fit perfectly with the norm of social distancing has had a positive impact on the market.
The global fantasy sports market is analyzed by type of sport, platform, demographics and region. Based on the type of sport, the football segment contributed more than two-fifths of the total market share in 2019 and is expected to lead the trail from 2021 to 2027. The cricket segment, on the other hand, would exhibit the fastest CAGR by 17.9% by 2027.
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Based on the platform, the mobile applications segment accounted for nearly three quarters of the total market revenue in 2019 and is expected to dominate the roost throughout the forecast period. The same segment would also represent the fastest CAGR of 14.8% through 2027.
By region, North America held the largest share in 2019, generating more than half of the global market. At the same time, the region across Europe will show the fastest CAGR of 15.6% by 2027.
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Major market players analyzed in the global fantasy market report include DraftKings Inc., fantasy football, Fanduel (Flutter Entertainment), NFL Fantasy, Dream Sports, FantasyPros, Rotowire, Fantrax, Rotoworld and Sportech Inc. These market players have joined several strategies including partnership, expansion, collaboration, joint venture and others to corroborate their position in the industry.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises and small and medium-sized businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market domain.
We have professional business relationships with various companies and this helps us dig up market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecasts. Any data presented in the reports published by us is extracted through primary interviews with senior officials of the main companies in the domain concerned. Our secondary data acquisition methodology includes in-depth online and offline research and discussions with industry experienced professionals and analysts.
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