“Fantasy Sports Industry Update: What’s New in 2024?”
The fantasy sports industry is on its fast growth in 2024, with an estimated market size of $32.75 billion. It will continue to grow at a rate of 13.83% each year and reach $62.58 billion by 2029. Such growth is driven by new technology, more legal support, and a growing interest in sports worldwide.
Major Trends in Fantasy Sports
Rise of Mobile Apps: With how easy it is to use mobile applications, they have become a big component of online sports betting and fantasy sports.
Gaining Popularity: Football and Cricket are the most prominent games in the fantasy sports domain and have the maximum share in both North America and Asia Pacific regions.
Increased Responsible Gaming: Companies will start programs to promote responsible gaming and educate the public on problem gambling.
Recent Developments
AI-powered insights and analytics:
Artificial intelligence is changing the way fantasy sports companies approach data analysis. In 2024, expect AI-powered platforms to provide real-time insights, predictive analytics, and personalized suggestions.
These advanced technologies assist users in making informed judgments by assessing player performance, historical data, and even social media trends.
Improved User Experience using AR/VR:
Augmented Reality (AR) and Virtual Reality (VR) are pushing fantasy sports involvement to new heights. Fantasy Sports Developers are incorporating AR/VR technology to build immersive experiences that allow users to engage with their teams in a virtual stadium or view player stats in real time, bringing a new level of excitement to sport.
Voice-activated interfaces:
Voice-activated technology is expected to transform the way people interact with fantasy sports systems. Fantasy Sports Developers are introducing voice assistants to allow users to pick players, check scores, and manage their teams hands-free, making the fantasy sports experience more intuitive and user-friendly.
