Increase in adoption of digital platforms and devices such as smartphones and tablets leading companies to invest more in technological developments and growing use of the internet drive the growth of the global webtoons market. However, only online availability of reading webtoons and limited availability of webtoons’ chapters which are not enough to generate a print edition impede the growth of the market. Moreover, growing use of digital comics leading to reduction in need for drawing instruments such as screen tone and drawing pens is expected to generate potential opportunities for the market during the forecast period.
The global webtoons market stood at a revenue of $3.7 billion in 2021, and is projected to amass $56.1 billion by 2030, witnessing a CAGR of 36.8% from 2022 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Digital comics have considerably reduced the cost and requirement for drawing instruments such as screen tone and drawing pens. It is anticipated that webtoons are expected to provide huge growth opportunities in the digital entertainment industry. Webtoons are made up of vertically oriented images that can be scrolled from top to bottom, allowing designers to present one enormous image on mobile or tablet. These factors are anticipated to boost the webtoons market size over the forecast period.
Key players in the webtoons market:
Leading players of the global webtoons market analyzed in the research include NAVER Corp., Kakao Corp., Lezhin Entertainment, Tappytoon, ToryComics, Toomics Global, Ridibooks (RIDI Corp), KidariStudio, Webtoon Factory, and Izneo Webtoon.
Segmental Review of the webtoons market:
The webtoons industry is segmented on the basis of type, revenue model, application, and region. By type, the market is classified as comedy, action, sci-fi, horror, romance, and others. By revenue model, the market is classified as subscription based and advertisement based. By application, it is classified as mobile, tablets, laptop, and television. By region, the webtoons market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Based on type, the comedy segment was the largest in 2021, holding over one-fourth of the global webtoons market, and is likely to rule the roost during the forecast period. The romance segment, however, is likely to register the highest CAGR of 37.7% from 2022 to 2030.
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Based on revenue model, the adds bases segment was the largest in 2021, grabbing more than half of the global market. However, the subscription segment is projected to register the highest CAGR of 41.5% throughout the forecast period.
By region, Asia-Pacific contributed to more than two-thirds of the global webtoons market in 2021 and is estimated to continue its dominancy through 2030. Europe, on the other hand, is projected to manifest the fastest CAGR of 39.0% during the forecast period. The other regions analyzed in the report are Europe and LAMEA.
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The report offers a comprehensive analysis of the global webtoons market forecast trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the webtoons market.
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