According to Custom Market Insights (CMI), the India Fantasy Sports Market size was estimated at USD 25.44 billion in 2022 and is expected to reach USD 28.98 billion in 2023 and is anticipated to reach around USD 72.06 billion by 2030, growing at a CAGR of roughly 13.9% between 2023 and 2030.
The CMI Intelligence Team reports that the increasing number of annual sports events and leagues, such as the IPL T20, Vivo Pro Kabaddi League, and ICC Cricket World Cup, along with the rising popularity of various media channels, such as YouTube channels, vlogs, TV shows, blogs, and forums, where experts analyze upcoming trends related to fantasy sports is significant.
India Fantasy Sports Market: Dynamics
The India fantasy sports market has seen significant growth in recent years, with several factors driving the market dynamics.
Here are some of the key dynamics impacting the market:
- Increasing the Internet and smartphone penetration: The proliferation of smartphones and the availability of affordable Internet services have led to the widespread adoption of fantasy sports in India. The increased accessibility of digital platforms has made it easier for users to participate in fantasy sports, leading to a rise in the number of users.
- The popularity of cricket: Cricket is the most popular sport in India, and it has a significant fan base, which has translated into the growth of fantasy sports in the country. Fantasy cricket is the most popular category of fantasy sports in India, and it accounts for a significant share of the overall market.
- Rise in disposable income: With a rise in disposable income, there has been an increase in discretionary spending on entertainment and leisure activities, including fantasy sports. Users are willing to spend money on in-app purchases, subscription fees, and other features offered by fantasy sports platforms.
- Partnership with sports leagues: Fantasy sports platforms have partnered with major sports leagues, such as the Indian Premier League (IPL) and the Pro Kabaddi League, to gain visibility and reach a wider audience. These partnerships have also helped to increase user engagement and participation.
- Legalization and regulation: The Indian government has legalized and regulated fantasy sports, which has brought more transparency and legitimacy to the industry. This has helped to build trust among users and has led to a rise in the number of users and investments in the industry.
In conclusion, the India fantasy sports market has been driven by various factors, including the increasing internet and smartphone penetration, the popularity of cricket, the rise in disposable income, partnerships with sports leagues, and legalization and regulation. The market is expected to continue growing in the coming years, with new players entering the market and existing players investing in new features and services to engage users.
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India Fantasy Sports Market: COVID-19 Analysis
The COVID-19 pandemic had a mixed impact on the India fantasy sports market. While the pandemic led to the cancellation or postponement of several sports events, including the Indian Premier League (IPL) and the Indian Super League (ISL), it also led to an increase in the adoption of fantasy sports as a form of entertainment among users stuck at home. Here are some of the key impacts of the COVID-19 pandemic on the India fantasy sports market:
- A temporary decline in revenue: The cancellation or postponement of major sports events, such as the IPL and the ISL, led to a temporary decline in revenue for fantasy sports platforms. These platforms rely heavily on these events to attract users and generate revenue through sponsorships and advertising.
- Increase in user engagement: With people staying at home due to lockdowns and social distancing measures, fantasy sports became a popular form of entertainment. Users were able to connect with other users online and participate in fantasy sports leagues, providing a sense of community and social interaction during a time of isolation.
- Shift in user behavior: The COVID-19 pandemic led to a shift in user behavior, with users spending more time on digital platforms. This led to an increase in user acquisition for fantasy sports platforms as they could reach a wider audience.
- Return of sports events: The resumption of sports events, albeit with restrictions and safety protocols, led to a gradual recovery in the India fantasy sports market. The IPL and the ISL were both held successfully in 2020, and this helped to boost the revenue and engagement for fantasy sports platforms.
List of the prominent players in the India Fantasy Sports Market:
- 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 and Head Digital Works Pvt Ltd.
- Halaplay
- Cricplay
- Fanfight
- 11 Wickets.com
- Zapak
- Sports Junki
- My11Circle
- Fancy 11
- Ftoss
- Livepools
- Others
Table of Contents: https://www.custommarketinsights.com/report/india-fantasy-sports-market/#table-of-contents
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