Currently, the fantasy sports app development industry is thriving. As a result, businesses want to indulge in fantasy sports app development. It has reshaped the way people play sports. Today, fantasy sports platforms like Dream11 are gaining popularity. It has revolutionized the fantasy sports experience.
So, if you are planning for fantasy sports app development like Dream11, read this blog. It will help you explore the key features, technology stack, and more.
As per Statistics, fantasy sports apps are gaining popularity. The global fantasy sports market grew by an astounding 18% in 2023. Its previous value was $20.4 billion. Furthermore, there are now over 200 million active users worldwide. It has also a record-breaking level of user participation.
So, if you are looking for ‘How to develop a fantasy sports app like Dream 11, you are at the right place.
Latest Fantasy Sports App Market Statistics
The fantasy sports app market is booming. Among all, India is the highest. The market structure of the fantasy sports app industry is growing. Based on a recent report - Currently, India is valued at 20.14 billion in 2022. It is projected to reach USD 34.66 billion by 2027. It will grow at an excellent CAGR of 11.47%. All of this makes fantasy sport the first choice for all business entrepreneurs.
Here are some key statistics showcasing today's ever-rising demand for fantasy sports app development.
The Indian fantasy sports market was valued at ₹34,600 crore in 2021. It is expected to reach ₹1,65,000 crore, at a CAGR of 38%. The market is expected to quadruple in size within the next four years!
India has over 20 crore fantasy sports users. Due to this, Dream11 is one of the largest fantasy markets in the world. This number is expected to grow in the coming years. All of this is driven by the increasing popularity of smartphones and the growing interest in sports.
Most Popular Sports
Cricket is the most popular sport for fantasy users in India. It has over 80% of users playing fantasy cricket. However, other sports like football, kabaddi, and hockey are also growing in popularity.
Dream11 is the undisputed leader in the Indian fantasy sports market. It has a market share of over 90%. Other significant players include My11Circle, MPL, and BalleBaazi. Dream11 was India's first fantasy sports platform. It means that playing Dream11 is legal in India.
What is Fantasy Sports App?
A Fantasy Sports App is a digital platform. It enables users to create virtual teams composed of real athletes from various sports. Participants strategically assemble their teams within a specified budget. They compete against each other based on the statistical performance of their chosen players in actual sporting events.
The app offers a dynamic and interactive experience. It allows users to engage in leagues, tournaments, and contests. With real-time updates and player statistics, the Fantasy Sports App provides a sports analysis. It also enhances user engagement. Besides this, it fosters a sense of strategy and community among sports enthusiasts.
How to Set Up A Business Model Dream11?
First of all, you need to connect with the best fantasy sports app development company that has the experience to create an app like Dream 11. Their team will assist you in creating an app like Dream 11. As you know it is a great idea to put your money in, but you need to find the business key aspects.
Understand the categories of fantasy gamers that are it can be daily or weekly basis game or scoring based game or draft based game type.
Play using Data- As your app will be handling a lot of data so you need to make sure that your app is updated at every stage. The app will engage more users and there will be calculative judgements.
Update the newsroom- When you create a fantasy app than making sure there is required space available for app updates. Check out the requirements of fantasy sports apps then you will notice that it requires more data and stats.
Why Should Entrepreneurs & Other Businesses Opt Fantasy Sports App Development?
Entrepreneurs and businesses are increasingly opting for fantasy sports app development. There are several reasons behind it. Here are some pointers highlighting the importance of the fantasy sports industry, along with some market figures.
1. Rapid Growth and Massive User Base
The fantasy sports industry has witnessed exponential growth. It has millions of users participating globally. According to a report by Statista, the global fantasy sports market was valued at more than $20 billion in 2023. Now, it is expected to grow significantly in the coming years.
2. Engagement and Retention
Fantasy sports apps provide a highly engaging and immersive user experience. It allows them to create virtual teams and compete against others. These apps enhance user retention and increase the time spent. This engagement contributes to higher advertising revenue and in-app purchases.
3. Monetization Opportunities
Fantasy sports apps offer various monetization channels. It includes entry fees for contests, in-app advertisements, and partnerships. The lucrative market attracts entrepreneurs looking to capitalize on diverse revenue streams.
4. Brand Building and User Loyalty
Developing a fantasy sports app allows businesses to build their brand. It fosters user loyalty. Users often associate the positive and enjoyable experience. It further contributes to long-term customer relationships.
5. Global Reach and Accessibility
Fantasy sports transcend geographical boundaries. It enables businesses to tap into a global audience. The rise of mobile technologies has made it easier for users to participate in fantasy sports competitions. It also creates a vast and diverse user base.
The fantasy sports app development industry thrives due to its rapid growth. It has multiple engagement opportunities, diverse monetization channels, and continuous technological advancements. Entrepreneurs and businesses are attracted to this sector.
Unique Features For Fantasy Sports App Development
The features of mobile applications like Dream11 make them special and top-trending fantasy games. These features are designed by keeping the audience's taste in mind and providing them with the best user experience. Some of the core features of mobile applications like Dream11 and BalleBaazi are:
- Profile setting
- View player statistics
- My winnings/ Rewards
- Create and Join tournaments
- Select tours
- Create team page
- Admin Login
- Manage points and results
- Transaction management
- Fantasy points control
- Notification control
- Players and leagues management
- View/Manage the list of users and transaction history
- Live group chat
- Social media sharing
- Dashboard analytics
- Leaderboard (Based on Income)
- Live commentary feed
Additional functionalities to ensure:
One common thing that people don't understand is that the user interface of applications should be simple and effective. If users find your application complex, they will go for other applications which are simple.
No one has time to waste on loading an application in today's fast-paced world. Your Application's loading speed is also an important feature that your developers should focus on.
- Good Image Resolution
The screen resolution of your should be high as it makes your users feel good and interact with the Application. You have to ensure that what your users see on screen is sufficiently detailed.
Basically, there are three main mobile operating systems- Android, iOS, and Windows. Your Application should be available on all these operating systems to make the best out of it. So, while hiring a company, ensure that it offers cross-platform fantasy sports application development on Android and iOS.
Internet security is one of the common concerns among modern businesses. Applications storing personal and sensitive information like credit and debit card details should have strong security layers.
- Search Options
It may sound like a general term, but most of the applications miss this common feature. The ability to search either the Application or the internet is important, and while it is not going to work so much for game-based applications.
- Bright And Bold Colour Schemes
Common features like eye-grabbing color schemes make your Application attractive and pull more customers. Make sure to pay attention to complementary colors from the color wheel, and you will end up creating a good-looking application interface.
Latest Tech Stacks for Fantasy Sports App Development
Choosing the right technologies is crucial for scalability. It also ensures smooth performance, and user experience. Optimal tech stacks ensure faster development cycles. Its seamless integration of features enhances the overall functionality of the application. It further contributes to a competitive Fantasy Sports App.
To help you with the same, the fantasy sports app developers have highlighted the list of the latest tech stacks for fantasy sports app development.
|React.js, Angular, Vue.js
|Building interactive user interfaces
|Node.js, Django, Flask
|Handling server-side logic and API endpoints
|Storing and retrieving data
|Express.js, Django, Flask
|Backend server framework
|Securing user authentication
|Enabling real-time communication
|AWS, Azure, Google Cloud
|Hosting, storage, and other cloud services
|RESTful APIs, GraphQL
|Integrating with third-party services and data
|Firebase Cloud Messaging
|Integrating with third-party services and data
How to start the development of an App Like Dream11?
Choose Both Platform Mobile & App- When you are building fantasy apps, you should go for the web too as there will be a vast audience reach. As anyone will prefer to open a link to an event on the web rather than install an app. You are launching a new app or idea to an audience, considering you need to deliver web access to grab the attention of your target audience.
Create a Monetization Plan- The main motive of developing an app is to flow the funds stably towards you. For that purpose, you are required to create a proper plan. Ads are the most commonly preferred marketing method, the amount you will be spending defines all.
Opt Right Framework- The main consideration factor in app development is to choose the right framework. You might have heard about native apps, progressive web apps and cross-platform apps. The monetization plan will help you in choosing the right framework and who is your target audience impact this too.
Why is the right time to invest in Fantasy Sports Business?
Fantasy sports apps are adored by everyone in the current scenario. The introduction of the 5g network and its high speed has allowed the fantasy sports market to take a hit. People are getting connected with fantasy sports apps as they give them a chance to play and connect with real-life players of their favourite game.
The idea of creating a fantasy sports app is new in the market. There are some organisations in the market available and they are doing great business and you can be a part of them also. The accessibility of mobile phones is a result of their high popularity giving it a reason to invest in them.
How much does it cost to create a Fantasy Sports App?
It is highly dependent upon the functionality of the app and platform. The complexity of the project and how you are planning to put customization. For an android-based application, the cost can vary from $6000 to $20000. For the iOS platform and cross-platform applications, the cost can go up to $30000.
In conclusion, venturing into fantasy sports app development, like Dream11, demands a strategic approach that aligns with the dynamic landscape of 2024. The success of such ventures hinges on a judicious mix of cutting-edge features and a keen understanding of user preferences.
As we delve into the nuances of cost and features, it becomes evident that investing in a robust platform is an investment in user engagement and loyalty. The evolving trends in technology and user behaviour necessitate an agile development process that anticipates and adapts to changes swiftly.
The cost considerations involved are not merely financial; they extend to the value proposition offered to users. As the fantasy sports arena thrives, crafting an app that seamlessly integrates innovation, user experience, and scalability will undoubtedly position developers for success in 2024 and beyond. Contact IMG Global Infotech for reasonable and outstanding fantasy sports app development services.
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