Portland, OR , July 18, 2022 (GLOBE NEWSWIRE) -- 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. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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.
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COVID-19 scenario:
- 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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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.
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.
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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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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
