IMARC Group, a leading market research company, has recently releases report titled “India Fantasy Sports Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” The fantasy sports market size in India is expected to exhibit a growth rate (CAGR) of 40.14% during 2024-2032. The widespread availability of affordable smartphones and high-speed internet, the rising number of sports leagues and annual sporting events, and continual development in various innovative gaming solutions represent some of the key factors driving the market.
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Factors Affecting the Growth of the India Fantasy Sports Industry:
- Increasing Utilization of Smartphones:
The growing demand for fantasy sports on account of the rising utilization of smartphones among the masses is offering a positive market outlook in India. In line with this, people are increasingly joining sports fantasy platforms due to the accessibility of affordable data plans. Moreover, mobile apps offer a user-friendly interface and enable seamless participation in fantasy leagues and contests from anywhere at any time. It also allows users to quickly draft their teams, monitor player performances, and engage with fellow enthusiasts on their mobile devices. Apart from this, increasing preferences for enhanced convenience among individuals is propelling the growth of the market in the country.
- Rising Participation in Games:
The rising participation in several sports activities is contributing to the growth of the market. In addition, fantasy sports platforms allow fans to actively participate in numerous games. It enables users to select their virtual dream team, which comprises real players. It also allows them to compete against others based on their actual performance, which provides an exciting and immersive experience to individuals. Apart from this, the excitement of following real-life matches while tracking the progress of their fantasy team keeps users engaged throughout the sporting season, which is bolstering the growth of the market in India.
- Growing Number of Prizes and Rewards:
The growing number of prizes and rewards in fantasy sports is offering a positive market outlook in the country. These rewards attract users to participate actively on fantasy sports platforms and enhance their overall satisfaction. Apart from this, these incentives create a sense of accomplishment and recognition for participants. Winning a fantasy league or contest creates a sense of achievement that encourages users to stay engaged and invest more time in creating their virtual teams. Furthermore, fantasy sports platforms often offer a variety of contests and tournaments with different reward structures, catering to a broad spectrum of users.
Leading Companies Operating in the India Fantasy Sports Industry:
- Dream Sports Group
- Mobile Premier League (MPL) (Galactus Funware Technology Private Limited)
- 11 Wickets.com (Ability Games Pvt. Ltd)
- BalleBaazi
- MyTeam11
- MyFab11
- Paytm First Games Pvt. Ltd.
- Fantasy Power 11
- Head Digital Works Pvt Ltd.
India Fantasy Sports Market Report Segmentation:
By Sports Type:
- Cricket
- Football
- Others
Cricket represented the largest segment due to the increasing broadcasting and digital content.
By Platform:
- Website
- Mobile Application
Mobile application accounted for the largest market share on account of the rising number of smartphones among individuals, along with the ease of internet facilities.
By Demographics:
- Under 25 Years
- 25-40 Years
- Above 40 Years
Under 25 years hold the biggest market share due to the rising social media influence on people of this age group.
Regional Insights:
- North India
- West and Central India
- South India
- East India
North India dominates the India fantasy sports market on account of the increasing number of cricket academies and sports clubs.
India Fantasy Sports Market Trends:
Fantasy sports operators are investing in technology and innovation to enhance user experiences. They are introducing new features, such as live score updates, player statistics, and real-time contests, that allow users to engage during matches, thereby contributing to the market growth. Furthermore, these innovations create a dynamic and competitive market that attracts more participants.
The growing awareness among the masses about fantasy sports on account of the increasing media coverage, advertising, and word-of-mouth recommendations is strengthening the growth of the market in India.
Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
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