Webtoons Market Size, Share, Revenue, Trends And Drivers For 2024-2033
Webtoons Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Webtoons Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, July 31, 2024 /EINPresswire.com/ -- The webtoons market has experienced robust growth in recent years, expanding from $6.33 billion in 2023 to $8.24 billion in 2024 at a compound annual growth rate (CAGR) of 30.3%. The growth in the historic period can be attributed to increased popularity of digital comics and online storytelling platforms, rise in prevalence of smartphones, increased demand for mobile-friendly and easily accessible entertainment content, increased trend towards digitalization, rise in content digitization and mobile first consumption.
Strong Future Growth Anticipated
The webtoons market is projected to continue its strong growth, reaching $23.94 billion in 2028 at a compound annual growth rate (CAGR) of 30.6%. The growth in the forecast period can be attributed to rising adoption of digital platforms and devices, rising growth of mobile based subscriptions, increasing demand for webtoons owning to the mobile phone, PC/notebook, tablet computer, increasing internet users, increasing diversity in genres and themes.
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Growth Driver Of The Webtoons Market
The rise of digital entertainment platforms is expected to propel the growth of the webtoon market going forward. Digital entertainment platforms refer to online services that provide various forms of entertainment content, such as streaming movies, TV shows, music, podcasts, and video games. The rise in digital entertainment platforms is due to cost efficiency, consumer demand, and enhanced data utilization.
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Major Players And Market Trends
Key players in the webtoons market include NAVER Corporation, Kakao Corporation, Bilibili Inc., KRAFTON Inc., NETMARBLE Corporation, KIDARISTUDIO Inc., D&C Media Co.Ltd.
Major companies operating in the webtoons market are focused on developing innovative products, such as serialized fiction apps, to gain a competitive edge. A serialized fiction app is a platform where stories are released in installments, often on a regular schedule, with various features such as push notifications for updates, bookmarking, and community interaction.
Segments:
1) By Product: Subscription Based, Advertisement Based
2) By Genre: Action, Science Fiction (Sci-Fi), Horror, Comedy, Romance, Other Genres
3) By Application: Mobile Phone, Personal Computer (PC) Or Notebook, Tablet Computer, Other Applications
Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the webtoons market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the webtoons market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Webtoons Market Definition
Webtoons are digital comics or graphic novels primarily distributed and read online. They are typically optimized for viewing on smartphones or computers, often employing a vertical scrolling format that allows for easy reading on mobile devices. Webtoons originated in South Korea and have gained popularity worldwide due to their accessibility and diverse genres and styles.
Webtoons Global Market Report 20241 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Webtoons Global Market Report 20242 by The Business Research Company is the most comprehensive report that provides insights on webtoons market size, webtoons market drivers and trends, webtoons market major players, webtoons competitors' revenues, webtoons market positioning, and webtoons market growth across geographies. The webtoons market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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