Internet and smartphone penetration, rising disposable incomes and improved living standards in the country have a major influence on the webtoon market .
PORTLAND, PORTLAND, OR, UNITED STATE, August 7, 2023/EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Global Webtoons Market Expected to Reach USD 56.1 Billion by 2030 | Top Players such as – NAVER, Kakao and Tappytoon.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global webtoons market size was valued at USD 3.7 billion in 2021, and is projected to reach USD 56.1 billion by 2030, growing at a CAGR of 36.8% from 2022 to 2030.
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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 is divided into type, application, revenue model, and region. On basis of type, the market is sub-segmented as comedy, action, sci-fi, horror, romance, and others. On the basis of revenue model, the market is sub-segmented as subscription based and advertisement based. On basis of application, the market is sub-segmented as mobile, tablets, laptop, and television. On basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on type, the comedy segment was the largest in 2021, holding over one-fourth of the global webtoons industry, 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.
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.
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By region, Asia-Pacific contributed to more than two-thirds of the global 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.
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.
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● While many industries suffered losses during the Covid-19 outbreak, the global webtoons market witnessed a positive growth.
● The closure of movie theatres and production businesses led to the surge in use of digital webtoons among individuals for entertainment while staying at home.
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