Fantasy App Market Growth and Future: You Should Know
The fantasy sports industry has taken a great leap from the past few years. Today, millions of sports fans are engaged with fantasy sports, globally, and the number is increasing speedily with every passing day. Twenty million was the last count came up from 2 million a year ago. According to the IFSG reports, the fantasy user base will ultimately cross 100 million by 2020.
Fantasy sports started as an entertaining source of games played among friends and colleagues, but its increasing fame has made it a multi-billion-dollar business across the world. The USA is the principal producer of this fantasy sports concept; it relishes a market share of 58% of the entire fantasy sports industry. Following the same, Europe keeps the second largest market share of 14% in the industry.
Fantasy sports app has played a vital role in booming popularity of these fantasy sports. If we talk about the global market size of these fantasy sports app, then it is projected that it will reach by $26400 million till 2024.
India also upholds a robust place in the fantasy sports app industry. Dream11 and MyTeam11 are the two prominent market players in India. These fantasy apps offer exciting fantasy sports, which engage a large number of user base towards their app.
The reason behind the immense popularity of fantasy sports apps is its fans; the
sports fanatics have a deep passion and engagement with sports. According
to the sports experts, every person has different views about games and fantasy
sports are the platform that gives these people a right to boast by selecting
their fantasy sports team.
What are the Reasons for the Growth of Fantasy Sports Apps?
- Paying Money on Games of Skill
- Indian Leagues
- Legal Status
- Lesser Competition
Factors that can influence the increasing Growth of Fantasy Sports Market in 2020
- Increasing Partnerships
- Developing Marketing and Advertising Spend
- Growing Interests of the Millennial
- Improved count of sports events that are organized globally.
- Desire to Participation
- Technological Advancements
- Availability of Trusted Streaming Partners
- Growing Penetration of Internet & Adoption of Smartphones
- Competitive Landscape.
- Fantasy Sports Platform Development
- Rising OTT Platforms
Future of Fantasy Sports
From the past few years, the Fantasy Sports market will record a 13.24% CAGR in terms of profits; the global market the size will reach USD 33199.64 million by 2025. The market is expected to touch USD 5 billion in the next two years.
Indian federation of sports and gaming states that two out of three sports enthusiasts in India are involved in fantasy gaming today, and it is expected that the number of users will be reached by 100 million by the end of 2020.
Its popularity is enlarging like fire, and undeniably this wildfire is predicted to increase the power of these platforms in upcoming years. India already becomes a pivot point for the fantasy sports investors and is going to become a golden bird again in the eyes of fantasy sports businessperson.
Wrapping up
So, tie your shoelaces because there is no best time than today to begin your Fantasy Sports App business. There is lots of opportunity in the fantasy sports industry for everyone if they wish to build Fantasy Sports Apps such as MyTeam11 and Dream11.