LONDON–(BUSINESS WIRE)–#entertainment–The fantasy sports market size is expected to post a CAGR of close to 12% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
The launch of various fantasy sports apps is major driver for the fantasy sports market growth. Fantasy sports applications enable a rich, comfortable, and better game experience. These applications allow players to join public leagues, create a private league, offer performance tracking, player rankings, material design, projections, mock drafts, and other features. With increasing internet penetration and smartphone adoption, the demand for fantasy sports apps will grow rapidly and contribute to the expansion of the global fantasy sports market size.
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As per Technavio, the use of fantasy sports for brand promotion will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Fantasy Sports Market: Use of Fantasy Sports for Brand Promotion
The use of fantasy sports for brand promotion is identified as one of the key fantasy sports market trends that will drive market growth. Several big brands are focusing on using fantasy leagues to market their products. These global brands use fantasy sports for promotion mainly to target high-income customers in the age range of 25 to 50 years. This influx of advertisers is expected to continue over the next few years and promote market growth.
“Factors such as the increasing popularity of e-sports, and the emergence of blockchain technology and cryptocurrencies in fantasy sports will have a significant impact on the growth of the fantasy sports market value during the forecast period,” says a senior analyst at Technavio.
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Fantasy Sports Market: Segmentation Analysis
This market research report segments the fantasy sports market by type (fantasy soccer, fantasy baseball, fantasy football, fantasy basketball, and other sports) and geographical regions (APAC, EMEA, and Americas).
The Americas led the market in 2017, followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to the launch of various apps for fantasy sports and high internet penetration and the increasing adoption of smartphones in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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Original Release: Business Wire