Asia-Pacific & Canada fantasy sports market by Sports Type (Football, Baseball, Basketball, Hockey, Cricket, and Others), Platform (Website, and Mobile Application), and Demographics (Under 25 Years, 25 to 40 Years and Above 40 Years): Regional Opportunity Analysis and Industry Forecast, 2021–2027
Asia-Pacific & Canada fantasy sports market was valued at $2,021.9 million in 2019, and is projected to reach $3,739.8 million by 2027, growing at a CAGR of 10.7% from 2021 to 2027.
Fantasy sport, also known as rotisserie sport or roto, is a type of online prediction game where participants manage and draft virtual teams of real professional sports players. Users compete against the fantasy teams over an entire sports league or season. Users that score maximum points win money based on the performance of the real professional sports players.
To promote and advertise their fantasy sports, leading players in the industry partnered with sports leagues aiding them in increasing their market penetration. Some of the prominent players in this segment such as DraftKings, FanDuel, and PlayUp entered into a partnership with official sports leagues such as National Football League (NFL) and Major League Baseball (MLB) as their fantasy sports partner. In addition, these players provide complete transparency to their customers in terms of their financial transactions.
All financial transactions on sports fantasy platforms are secured with verified payment gateways, thus building the confidence among users to spend on online prediction games. Furthermore, DraftKings Inc. and Major League Baseball announced a multi-year extension of Exclusive and official Daily Fantasy Sports Partner of the League. Such partnerships are expected to accelerate promotions and advertisements of sports fantasy platforms at a global level, including Canada and Australia.
The outbreak of the COVID-19 pandemic led to economic crisis around the world. Implementation of restrictions and cancellation of major sports leagues are expected to act as major challenges for engaged stakeholders. Furthermore, ambiguous and complicated regulatory frameworks regarding the fantasy sports platforms challenges the market growth.
The rapidly transforming online gaming industry is boosting the adoption of technologies such as facial recognition, cloud-based technology, and blockchain technology for efficient operations. With the incorporation of secured payment gateways, user-friendly interface, blockchain-based apps, and fantasy chatbots, the fantasy sports industry has witnessed huge leaps in terms of revenue generation, customer satisfaction, and operation efficiency. The incorporation of such technologies is expected to continue to serve as a lucrative opportunity for engaged stakeholders in Asia-Pacific & Canada fantasy sports market to better manage users as well as key operations. In addition, increase in investment in fantasy sports platforms and partnerships of sports fantasy platforms with sport leagues have majorly driven the growth of Asia-Pacific & Canada fantasy sports market. However, lack of awareness about fantasy sports platforms among gaming audience is likely to hamper the growth of the market.
Asia-Pacific & Canada fantasy sports market is segmented into sports type, platform, demographics, and country. By sports type, the market is classified into football, baseball, basketball, hockey, cricket, and others. Depending on platform, it is bifurcated into website and mobile application. On the basis of demographics, it is fragmented into under 25 years, 25–40 years, and above 40 years. Country wise, the market is analyzed across Canada, Australia, Singapore, and the Philippines.
The key players operating in Asia-Pacific & Canada fantasy sports market include DraftKings Inc., FanDuel Group (Flutter Entertainment), Betway Group, Moneyball, FantasyDraft, LLC, MyClubtap , PlayOn, and PlayUp Limited.
Key benefits for stakeholders • The report provides extensive analysis of the current & emerging trends and opportunities in the market.
• The report provides detailed qualitative and quantitative analyses of current trends and future estimations, which help to understand the prevailing market opportunities.
• A comprehensive analysis of factors that drive and restrict the growth of the market is provided in the study.
• An extensive analysis of the market is conducted by following key product positioning and monitoring top competitors within the market framework.
• The report provides extensive qualitative insights on the potential & niche segments.
KEY MARKET SEGMENTS • By Sports type
• By Platform
o Mobile Application
• By Demographic
o Under 25 years
o 25 to 40 years
o Above 40 years
• By Country
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