Dublin, Nov. 05, 2024 (GLOBE NEWSWIRE) — The “Webtoons Market Report and Forecast 2024-2032” report has been added to ResearchAndMarkets.com’s offering.
According to this report, the webtoons market reached a value of USD 5.55 billion in 2023. Aided by the increasing demand for digital entertainment and the growing popularity of webtoons among diverse age groups, the market is projected to further grow at a CAGR of 18.6% between 2024 and 2032 to reach a value of USD 25.82 billion by 2032.
The increasing consumer preference for digital entertainment is driving the webtoons market growth. With the proliferation of smartphones and high-speed internet, digital content consumption has surged, leading to a higher demand for online comics. Webtoons offer a convenient and engaging way to consume stories, catering to the preferences of modern readers who favour digital formats over traditional print media.
Additionally, the rising trend of interactive and immersive storytelling is a major factor contributing to the market growth. Webtoons often incorporate multimedia elements such as animations, sound effects, and interactive features, enhancing the reader’s experience. This trend is driven by the desire for innovative and dynamic content that provides a more engaging and interactive reading experience.
The expanding applications of webtoons in various sectors also play a significant role in propelling the market. In the entertainment sector, webtoons serve as a valuable source of content for adaptations into TV shows, movies, and video games. The success of webtoon-based adaptations, such as Netflix’s “Sweet Home” and “Love Alarm,” has highlighted the potential of webtoons as a content reservoir, driving further interest and investment in this medium, consequently driving up the webtoons market share.
Technological advancements play a crucial role in the growth of the market. The development of advanced digital platforms and mobile applications is enhancing the accessibility and user experience of webtoons. Technologies such as artificial intelligence (AI) and machine learning (ML) are being used to recommend personalised content to users, improving engagement and retention. These technologies enable webtoon platforms to analyse user preferences and behaviour, offering tailored content recommendations and enhancing user satisfaction.
Moreover, the integration of augmented reality (AR) and virtual reality (VR) in webtoons is driving market growth. AR and VR technologies provide immersive and interactive experiences, allowing readers to engage with the content in novel ways. These technologies enhance the storytelling experience by incorporating 3D elements, animations, and interactive features, making webtoons more engaging and appealing to users.
As per the webtoons market analysis, the market of webtoons in Asia Pacific is driven by the high adoption of digital comics and the presence of major webtoon platforms in the region. South Korea, in particular, is a key contributor to the market growth, being the birthplace of webtoons and home to leading webtoon platforms such as Naver Webtoon and KakaoPage. The strong cultural influence and the widespread popularity of webtoons in South Korea have propelled their adoption across other Asian countries.
North America is another prominent region, with the United States leading the way. The growing demand for digital entertainment and the increasing number of webtoon platforms catering to English-speaking audiences are driving the market growth in this region. The rising popularity of webtoons among young adults and teenagers, coupled with the success of webtoon-based adaptations, is further boosting the market in North America.
Market Segmentation
The market can be divided based on genre, revenue model, device type, and region.
Market Breakup by Genre
- Comedy
- Action
- Sci-Fic
- Romance
- Horror
- Others
Market Breakup by Revenue Model
- Subscription Based
- Advertisement Based
Market Breakup by Device Type
- Mobile
- Television
- Laptop and Tablets
Market Breakup by Region
- North America
- Latin America
- Middle East and Africa
- Asia Pacific
- Europe
Competitive landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global webtoons market. Some of the major players explored in the report are as follows:
- Marvel Entertainment, LLC
- SideWalk Group
- Izneo Company
- Kakao Entertainment Co. Ltd.
- Lezhin Entertainment, LLC
- Naver Webtoon Limited
- Kidari Studio Co. Ltd.
- Contents First, Inc. (Tappytoon)
- Toomics Global Co. Ltd.
- RIDI Corporation
Key Attributes
| Report Attribute | Details |
| No. of Pages | 207 |
| Forecast Period | 2024-2032 |
| Estimated Market Value (USD) in 2024 | $6.6 Billion |
| Forecasted Market Value (USD) by 2032 | $25.82 Billion |
| Compound Annual Growth Rate | 18.6% |
| Regions Covered | Global |
Key Topics Covered
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Webtoons Market Analysis
8.1 Key Industry Highlights
8.2 Global Webtoons Historical Market (2018-2023)
8.3 Global Webtoons Market Forecast (2024-2032)
8.4 Global Webtoons Market by Genre
8.5 Global Webtoons Market by Revenue Model
8.6 Global Webtoons Market by Device Type
8.7 Global Webtoons Market by Region
9 North America Webtoons Market Analysis
9.1 United States of America
9.2 Canada
10 Europe Webtoons Market Analysis
10.1 United Kingdom
10.2 Germany
10.3 France
10.4 Italy
10.5 Others
11 Asia Pacific Webtoons Market Analysis
11.1 China
11.2 Japan
11.3 India
11.4 ASEAN
11.5 Australia
11.6 Others
12 Latin America Webtoons Market Analysis
12.1 Brazil
12.2 Argentina
12.3 Mexico
12.4 Others
13 Middle East and Africa Webtoons Market Analysis
13.1 Saudi Arabia
13.2 United Arab Emirates
13.3 Nigeria
13.4 South Africa
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.2 Porter’s Five Forces Analysis
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
16 Key Trends and Developments in the Market
For more information about this report visit https://www.researchandmarkets.com/r/jimjii
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