The global fantasy sports market 2018-2022 is expected to post a CAGR of close to 12% during the forecast period, according to the latest market research report by Technavio.
@Technavio predicts the global #fantasysports market to post a CAGR of close to 12% by 2022
A key factor driving the growth of the market is high internet penetration and increasing adoption of smartphones. Increased internet penetration, especially in APAC, is likely to drive the market during the forecast period. Affordable smartphones and high-speed internet access have surged the number of a fantasy sports player. Smartphones help end-users play fantasy sports irrespective of location and time. This also augments participation in fantasy sports through mobile devices, which will drive market growth.
This market research report on the global fantasy sports market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the use of fantasy sports for brand promotion as one of the key emerging trends in the global fantasy sports market:
Global fantasy sports market: Use of fantasy sports for brand promotion
The use of fantasy sports for brand promotion has become a trend. Many big brands are trying to use 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.
“Unilever launched its Dove men care fantasy football hub, which grants consumers exclusive access to fantasy football suggestions and advice from ESPN analysts. Also, Toyota purchased the advertising space to sponsor the Yahoo fantasy football league recaps,” says a senior analyst at Technavio.
Global fantasy sports market: Segmentation analysis
This market research report segments the global fantasy sports market by type (fantasy soccer, fantasy baseball, fantasy football, fantasy basketball, and other sports) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of more than 47%, 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 increasing adoption of smartphones.
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