The India fantasy sports market is expected to exhibit a growth rate (CAGR) of 44.6% during 2023-2028. 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.
|Market Growth Rate (2023-2028)
Fantasy sports are online games where participants create and manage virtual teams using real-life professional athletes. Players are selected based on a draft system, and their real-world performances determine the success of the virtual team. The objective is for participants to compile a team that accumulates the most points based on these real-world outcomes. The game can span a day, a week, or an entire sports season. It covers a variety of athletic events, including football, baseball, basketball, and more. As digital technology has evolved, so has the popularity and sophistication of these sports. Today, it's a multi-billion-dollar industry with platforms providing in-depth analytics, player news, and other resources to help enthusiasts make informed decisions.
The widespread availability of affordable smartphones and high-speed internet is primarily driving the market in India. Users from urban and rural areas alike can now participate in these games, driving user numbers. Furthermore, the market is benefitting from the rising number of sports leagues and annual sporting events, , among others. With these events generating heightened interest in sports, more individuals are participating in sports as a means of active engagement, which is resulting in higher adoption of fantasy gaming. Additionally, several leading players in the industry are introducing innovative solutions to ensure seamless payment experiences and reduce transaction failure rates. This focus on improving user experience is fostering market growth. Moreover, the legal landscape has played a positive role in the market's expansion, with several favorable court judgments recognizing the skill element of the sports. This has provided a clear legal framework for these platforms to operate, further stimulating market growth.
India Fantasy Sports Market Trends/Drivers:
Continual technological advancements and digital connectivity
As internet penetration has deepened globally, it has provided a wider audience with access to online platforms. Smartphones and apps have played an instrumental role in this growth. With easy-to-use interfaces, they offer users the convenience to access and manage their fantasy teams from anywhere at any time. The enhanced graphics, real-time updates, and interactive features further augment the user experience. Moreover, with the advent of 4G and 5G technologies, data transmission has become faster and more efficient, enabling real-time tracking of player performances and instant updates in team standings. Cloud technologies ensure data storage is efficient and cost-effective, allowing platforms to manage vast amounts of data effortlessly. Innovations in artificial intelligence and machine learning have also paved the way for predictive analytics tools, providing enthusiasts with insights and strategies, making the game more engaging and competitive.
Increasing sports consumption and media partnerships
As sports leagues around the world gain popularity, so does the desire for fans to engage more deeply with their favorite sports and players. Fantasy sports offer an avenue for this deeper engagement, allowing fans to feel a personal stake in the games they watch. Moreover, media partnerships play an integral role in this driver. Major sports broadcasting networks often collaborate with fantasy sports platforms, integrating them into their programming. This symbiotic relationship is beneficial for both, including broadcasters can keep viewers engaged with added layers of interest, while fantasy platforms gain visibility and credibility. For market researchers, it's crucial to recognize the influence of media in shaping consumer behaviors and the potential of strategic partnerships in amplifying market reach.
Monetization strategies and the evolution of e-commerce
The rise of e-commerce and digital payment systems has facilitated this shift, making it easier for users to make transactions safely and efficiently. With secure online payment gateways, users feel more confident in participating in cash-based leagues. In addition to direct monetization, there's a growing trend of advertising and sponsorships within the fantasy sports domain. Brands view these platforms as an opportunity to reach a dedicated and engaged audience. Furthermore, with data analytics tools, platforms can offer personalized marketing, targeting users based on their preferences and behaviors. This not only increases the potential for sales but enhances the user experience, making advertisements more relevant and less intrusive. For market research professionals, understanding the intertwining of e-commerce, digital advertising, and consumer engagement is vital in predicting market trends and identifying growth opportunities.
India Fantasy Sports Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market report, along with forecasts at the country level from 2023-2028. Our report has categorized the market based on sports type, platform, and demographics.
Breakup by Sports Type:
Cricket accounts for the majority of the market share
The report has provided a detailed breakup and analysis of the market based on the sports type. This includes cricket, football, and others. According to the report, cricket represented the largest segment.
Cricket is referred as a cultural phenomenon in India. The fervor and dedication of its followers are unparalleled, with major tournaments, including the ICC World Cup, Indian Premier League, Ashes series, and Big Bash League witnessing colossal viewership numbers. The structure of cricket also lends itself exceptionally well to fantasy sports. With various formats, there ‘a multitude of opportunities for sports enthusiasts to engage, strategize, and participate. Each format brings its own challenges and nuances, allowing for diverse team selections, strategies, and points systems. This diversity ensures that the engagement remains consistent and fresh. Moreover, the media coverage of cricket, both in terms of live broadcasting and digital content, is extensive. This constant stream of content, including player interviews, match analyses, and behind-the-scenes glimpses, fosters a deeper connection between fans and players. It also provides fantasy players with insights and data, aiding them in making informed decisions for their virtual teams.
Breakup by Platform:
- Mobile Application
Mobile application holds the largest share in the industry
A detailed breakup and analysis of the market based on the platform has also been provided in the report. This includes website and mobile application. According to the report, mobile application accounted for the largest market share.
With billions of users around the world, mobile devices have become the primary interface for many to access the internet, replacing traditional desktops and laptops for numerous online activities. Furthermore, the inherent nature of fantasy sports which involves regular team updates, monitoring player performances, and tracking live scores, requires a platform that offers both convenience and immediacy. Mobile applications fit this bill perfectly. They allow users to access their fantasy teams on-the-go, making swift changes based on real-time events, and staying engaged wherever they might be. Push notifications ensure that users are always informed, prompting timely actions and heightening engagement. Furthermore, the user experience (UX) offered by mobile applications is tailored for smaller screens and touch-based interactions. Intuitive designs, smooth animations, and streamlined processes enhance the overall experience, making it effortless for users to navigate and make decisions.
Breakup by Demographics:
- Under 25 Years
- 25-40 Years
- Above 40 Years
Under 25 years represents the leading market segment
The report has provided a detailed breakup and analysis of the market based on the demographics. This includes under 25 years, 25-40 years and above 40 years. According to the report, under 25 years represented the largest segment.
When dissecting the demographics within the fantasy sports landscape, the under 25 years age group stands prominently as the most substantial segment. This can be primarily attributed to the digital-native nature of this age bracket. Their digital fluency means they are quick to adopt new online trends and platforms, with fantasy sports being no exception. Additionally, this age group is also characterized by its active engagement in social media and online communities. The communal aspects of fantasy sports, which involve creating leagues with friends, challenging peers, and sharing achievements, resonate strongly with them. This social element amplifies their engagement, turning it into not just an individual pastime, but a shared experience that fosters connections and rivalries. Moreover, the under 25 demographic is typically more willing to experiment and take risks. This adventurous spirit is reflected in their readiness to explore diverse strategies in fantasy sports, delve into various sports, and participate in different formats and challenges. Their willingness to invest time in research, watch highlight reels, and stay updated with player statistics showcases their commitment and enthusiasm.
Breakup by Region:
- North India
- West and Central India
- South India
- East India
North India leads the market, accounting for the largest market share
The report has also provided a comprehensive analysis of all the major regional markets, which include North India, West and Central India, South India, and East India. According to the report, North India was the largest market for fantasy sports in the country.
North India has a rich sporting tradition. Cricket, which forms a significant portion of the fantasy sports market, enjoys an almost religious following in this region. Coupled with the fervor for local sporting leagues and tournaments, there's a ready audience eager to engage with sports on a deeper, more interactive level that fantasy platforms offer. Moreover, infrastructure and technology also play pivotal roles. With the rapid urbanization of North Indian cities and the consequent growth in IT sectors, there's been a significant rise in internet penetration and smartphone adoption. High-speed internet, facilitated by widespread 4G networks, ensures that users can engage with fantasy sports platforms seamlessly. Furthermore, marketing, and promotional activities by fantasy sports platforms have found a receptive audience in North India. Brand endorsements by popular North Indian celebrities and cricketers lend credibility and appeal to these platforms, driving higher registrations and active participation.
Companies continually invest in developing user-friendly platforms with intuitive interfaces. Regular updates ensure smooth operation, better security, and incorporation of new features. Furthermore, to retain users, companies are introducing various engagement tools, such as daily challenges, leaderboards, and loyalty programs. They also offer tutorials and resources to help newcomers understand the game better. Apart from entry fees for leagues, companies explore other revenue streams such as advertisements, partnerships, and premium features. Some also introduce virtual goods or in-app purchases. Additionally, collaborations with sports leagues, media houses, or data providers are common. These partnerships can provide exclusive content, promotional opportunities, or valuable data for the platforms. In line with this, numerous companies are expanding beyond their home countries, customizing their platforms to cater to local preferences and regulations.
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- Dream Sports Group
- Mobile Premier League (MPL) (Galactus Funware Technology Private Limited)
- 11 Wickets.com (Ability Games Pvt. Ltd)
- Paytm First Games Pvt. Ltd.
- Fantasy Power 11
- Head Digital Works Pvt Ltd.
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
India Fantasy Sports Market Report Scope:
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
- Sports Type
|Sports Types Covered
||Cricket, Football, Others
||Website, Mobile Applications
||Under 25 Years, 25-40 Years, Above 40 Years
||North India, West and Central India, South India, East India
||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., etc.
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
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Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India fantasy sports market from 2017-2028.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the India fantasy sports market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India fantasy sports industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.