Webtoons Market
The webtoons are mostly short and can be read online only which may impede the growth of the market throughout the analysis timeframe.
PORTLAND, PORTLAND, OR, UNITED STATE, October 17, 2022 /EINPresswire.com/ — According to the report published by Allied Market Research, 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.
Increase in the adoption of digital platforms and devices such as smartphones and tablets leading companies to invest more in technological developments and the growing use of the internet driving 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.
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Moreover, the growing use of digital comics leading to a reduction in the 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 report offers detailed segmentation of the global webtoons market based on type, revenue model, application and region.
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.
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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 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.
COVID-19 scenario:
• While many industries suffered losses during the Covid-19 outbreak, the global webtoons market witnessed positive growth.
• The closure of movie theatres and production businesses led to a surge in the use of digital webtoons among individuals for entertainment while staying at home.
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Some of the leading webtoons market players are NAVER Corp., Kakao Corp., Lezhin Entertainment, Tappytoon, ToryComics, Toomics Global, Ridibooks (RIDI Corp), KidariStudio, Webtoon Factory, and Izneo Webtoon.
Key findings of the study
• The study provides in-depth analysis of webtoons market share across the globe.
• On the basis of type, the romance sub-segment is predicted to have the fastest growth rate in the global market during the forecast period.
• On the basis of the revenue model, the subscription-based sub-segment is expected to have the fastest growth rate in the global market during the prediction time.
• On the basis of application, the mobile sub-segment is projected to have the fastest growth rate in the global market during the projection years.
• On the basis of region, Asia-Pacific region market registered a dominant market share in 2021. Europe region market is projected to have the fastest growth rate during the forecast period.
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