Latest News- Fantasy Sports Market: Fantasy soccer is expected to lead the Product segment during 2025-2029
The Fantasy Sports Market is being driven by Launch of various apps for fantasy sports
The Fantasy Sports Market is expected to grow at a CAGR of 7.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 10132.9 million. In the realm of brand promotion, fantasy sports have emerged as a popular trend. Notable corporations, such as Unilever and ESPN, have collaborated on the Dove Men+Care fantasy football hub, providing consumers with exclusive insights and advice from industry experts. Similarly, Toyota has secured advertising spots within the Yahoo fantasy football league recaps. Hilton, too, has entered the fray with a free-entry fantasy racing contest exclusively for its Honors Club members. These global brands strategically employ fantasy sports to engage high-income consumers aged 25 to 50, thereby expanding their market reach and fostering customer loyalty.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (Fantasy soccer, Fantasy baseball, Fantasy basketball, Fantasy football, Others) Platform (Mobile application, Website) Geography (North America, Europe, APAC, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Fantasy Sports Market Research Report
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The Fantasy Sports Market encompasses various sports leagues and tournaments, including the NFL, Premier League, IPL, and more, offering fans immersive experiences through fantasy sports platforms. High-speed internet and smartphones fuel this Online gaming business, enabling secure payment methods and innovative technologies like blockchain-based apps and fantasy chatbots. Sports Tech drives growth, with software engineers and data scientists in demand to cater to Baseball, Cricket, Football (rugby), and Volleyball fans, while addressing concerns over illegal sports betting. Internet penetration continues to expand, broadening the market's reach.
The global leisure products market encompasses sectors such as sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and consumer-oriented games. According to Technavio's market analysis, the market size is determined by the consolidated revenue generated by manufacturers in household durables, including consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. The market's expansion will be fueled by several factors, including the surge in fantasy sports platforms and high-speed internet penetration, enabling online gaming experiences for NFL, Premier League, IPL, and other sports league enthusiasts. The growing popularity of fan engagement in these tournaments is also driving market growth. The increasing number of health and fitness club memberships is another significant factor, as consumers seek active leisure pursuits.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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