The dramatic growth of the fantasy sports industry in the last decade is no surprise, and industry researchers already have declared it among the fastest-growing industries in the U.S. Mobile devices will be among the reason why growth in fantasy sports will continue is strong growth through 2018.
In its 2013 report on the 10 fastest growing industries, IBISWorld, a global business intelligence and market research firm, said the fantasy sports services industry will continue to grow as more games and more devices will attract more players.
“The Internet really helped push the envelope for transforming fantasy sports services into a full-blown industry,” the company said in its 2013 report. “Over the past 10 years, fantasy sports services have experienced explosive absolute growth of 241.0%. Fantasy sports service firms will continue cashing in on the general move toward more mobile content, which will help bring revenue up at an annualized rate of 7.6% over the five years to 2018.”
For the Fantasy Sports Trade Association (FSTA), such data simply confirms what individual association members already are experiencing. “FSTA member companies have transitioned their services and platforms from desktop to Internet to mobile devices to keep pace with the changes in technology and the changing needs of our customers, the fantasy sports players,” said Paul Charchian. “We’ll continue to adapt to new technology and innovations in the games our customers want to play. We also will work with our association members to help them grow their individual companies. In doing this, we hope to meet or exceed the exciting growth projections contained in the IBISWorld report.”
Fantasy Sports Services Growth Projections are ‘Explosive’