In just a few months, the T20 world cup and IPL (Indian Premier League) alongside several other cricket events will be here. Hundreds of millions of people watch these events worldwide.
The popularity of fantasy cricket apps like Dream11 has created a new definition of success in the past few years. It has grown in popularity during major sports events such as the T20 World Cup, ICC Cricket World, the IPL, among many others.
Cricket craziness is evident all around the world, including in Australia, India, the West Indies, South Africa, New Zealand, England, and elsewhere.
As the ICC T20 world cup is scheduled in India to be organized by this year, many sports business ventures started entering into fantasy sports app development to become successful fantasy sports apps like Dream11.
Here in this post, we will help you understand the market insight of the fantasy app, how fantasy sports apps are growing in India, features, process, and cost of fantasy sports app development alongside why is 2021-22 the right time to launch your fantasy sports app.
So let’s get started on your journey of fantasy sports app development together.
Global Market Capitalization of Your Fantasy Sports Cricket App
The global market for fantasy sports applications is growing rapidly with no signs of slowing down anytime soon. This popularity can be explained by the increasing youth population, affordable smartphones, and inexpensive internet access, as well as the growing prevalence of fantasy sports websites and apps.
PR Newswire reported that, as of 2020, the fantasy sports industry had a market value of $20.36 billion, and the economy is projected to be worth $22.31 billion by 2021 with a compound annual growth rate of 9.5%. By 2025, according to the report, the market value is forecast to reach $38.60 billion at an annual growth rate of 14.7%.
Covid-19 has shaken the world to its core. It is increasingly difficult for most industries to survive due to the sheer amount of losses and suffering they experience. In contrast, online businesses such as fantasy cricket apps like Dream11 proved to be profitable ventures.
Here are some interesting facts showing the market capitalization of the fantasy sports application.
Note: The following information belongs to Allied Market Research. Click here to view the detailed report.
- Followed by football, cricket is the second most favorite fantasy sports type. Image source: Alliedmarketresearch.com
- By platform, the fantasy cricket application market is divided into fantasy sports websites and mobile applications. The mobile application leads the market, and its share of the market will rise unexpectedly in the coming days with annual growth of 14.8% during 202-2027.
- The majority of players using the fantasy league software are between the ages of 25 and 40 years. The under 25 years segment is expected to grow at an annual rate of 15.9%.
Image source: Alliedmarketresearch.com
Fantasy Sports App Market in India: How Has It Grown?
The fantasy sports app market has indeed grown exponentially in India in the last few years. Fantasy sports app development in India grows as the pandemic ravages the country.
A KPMG report entitled Beyond the Tipping Point estimates that the Indian fantasy sports app market will generate revenue of Rs 29,000 crore by 2025, with 65 crore users. There are 43.3 crore users of fantasy sports apps with a market value of 13,600 crores.
Beyond the Tipping Point, the report further said that India is going to become the second-largest country in terms of online gaming users followed by China.
Smartphone penetration is another factor contributing to the growth of fantasy sports software development. By the end of the year 2021, Statista predicts that there will be over 844.84 million smartphone users in India. Soon India expects to surpass the USA, UK, and Australia, India in terms of smartphone penetration rate.
Image Credit: Statista.com
This is how the Indian fantasy sports market revenue is witnessing huge growth in the year 2021.
Fantasy Cricket App Development Features
Now you must have developed a fair idea of how fantasy league software and application is growing in India and other continents of the world such as the USA, UK, Australia, India, and so many others.
We now will discuss some of the features of the fantasy cricket sports app development, both for users and admin.
Fantasy Sports App Features for Users
- Register/ Login
- Eye-catching home page
- User Dashboard
- Create custom teams
- Profile management
- Real-time player’s statistics
- Create contest
- Join the Contest
- Secure & robust payment gateway
- Live Score
- Push Notification
- Easy withdrawal options
Fantasy Sports App Features for Admin
- Management panel
- Real-time analytics
- Add or remove users
- League management
- Reward management
- Content management system
Fantasy Sports App Advanced Features
- Social media sharing
- Live commentary
- Live video streaming of cricket matches
- Blockchain-based payment system
- Push notification
- CRM integration
The Process of Fantasy Cricket Sports App And Web Development
Developing a fantasy cricket sports app is a complex process because it involves a lot of phases. We’ve outlined all the common steps involved in developing a fantasy sports app below.
1. First Define the Objective of the Fantasy Sports App
The first thing comes first. Firstly, you have to define the requirements of your fantasy sports app development. In our scenario, we want to build a fantasy sports application serving the T20 world cup 2021. Apart from the T20 world cup, you can also cover other major sports events such as the Indian Premier League (IPL), the ICC world cup, and so on.
2. Market Research
This is one of the most important questions that need to be dealt with. You need to find out your target audience. Stay up to date on current market trends and features to ensure you approach your target audience effectively.
3. Select the Appropriate Engagement Platform
A choice has to be made between building a fantasy cricket sports app or a fantasy cricket sports website during this phase of development. App development further requires a decision between Android and iOS operating systems. You can also hire a hybrid fantasy app developer who can develop applications for both Android and iOS operating systems.
4. Hire Well-Celebrated Fantasy Sports App Development Company
Now, as you have decided to make your fantasy sports app, the next thing you need to do is selecting a fantasy sports app development company. We advise you to do comprehensive research, in order to choose the app development in the USA for your project.
Why 2020-2021 Is the Right Time to Launch Your Fantasy Sports Business?
Several international and national cricket events are scheduled to be held in the coming years. Hence the year 2020-21 is the right time to launch your fantasy sports app. Huge numbers of cricket fans spread around the world are desperately waiting for these events. This one reason can help you make a huge profit.
1. IPL (Indian Premier League) 2021:-
As the name suggests, this league is organized every year in India by the BCCI (Board of Control for Cricket in India). Players from various countries such as Australia, New Zealand, South Africa, West Indies, Afghanistan, Sri Lanka, England, and so on. There is a huge following of IPL not only in India but across the globe.
As per a report by KPMG, the fantasy cricket sports app Dream11 has seen an upsurge in revenue and made $225 million in 2020 that too during the season of IPL.
There are multiple reasons to start your fantasy sports platform in the IPL season in addition to the revenue.
2. ICC Men’s T20 World Cup
The ICC (International Cricket Council) is all set to organize the men’s T20 world cup in the United Arab Emirates. Earlier this T20 world cup was used to be held in India, but due to continued escalations of Covid-19, ICC decided to shift the T20 world cup venue to UAE.
This year alone with the IPL, the T20 World Cup is also expected to boost the revenue of the fantasy sports app up to 12,00 crore.
3. Big Bash League
Big Bash League or BBL is one of the well-celebrated professional men’s Twenty 20 domestic cricket competitions held every year in Australia. This year the tenth season of the Big Bash League is going to be organized.
What Is the Cost of Developing a Fantasy Cricket App Like Dream11?
To develop a fantasy cricket sports app like Dream11, you might need to spend around $25,000 to $48,000. This is just an estimated cost of fantasy cricket app development. This cost could go up and down depending on various things such as project complexities, required team structure, tech stack, and so on.
If you want to gain detailed knowledge of how fantasy app development prices used to be determined by fantasy cricket app development companies, then we advise you to read our detailed blog post on fantasy cricket app development costs.
Top Fantasy Sports App Development Company
BR Softech is a name that gained acceptance as a top fantasy sports app development company in India. With hundreds of projects reaching the market, BR Softech always has something to be proud of. Our specialization and access to the latest marketing trends make us a pioneer name in the field of fantasy sports app or software development.
Boost Your Fantasy Sports Business With BR Softech
The craze for cricket is everywhere around the world. Some of the countries like India treat cricket like it is part of their culture. Hence starting your fantasy sports business in India would be a profitable business idea for you.
The years 2021-2022 are going to bring a lot of passive income opportunities for fantasy sports business owners. The right time for you to launch your fantasy cricket sports app has already come. Contact BR Softech if you’d like to launch your fantasy sports application as soon as possible.
BR Softech Pvt. Ltd. excels in providing cost-effective IT Solutions. Established in August 2010 with over 10+ years of rich experience. An Apex rated IT serving company around the world. Our team of innovative and creative designers deals in web designing, mobile/ software development and other digital marketing services intending to deliver outstanding digital outcomes.