Webtoons Market Worth to Reach $56.1 Billion by 2030, Exclusive Report

According to a new report published by Allied Market Research, titled, "Webtoons Market," The webtoons industry was valued at $3.7 billion in 2021, and is estimated to reach $56.1 billion by 2030, growing at a CAGR of 36.8% from 2022 to 2030.

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Webtoons are a type of Internet comic that are easier to create and distribute as they are shorter and more precise. People who primarily use webtoons for entertainment are always looking for new and interesting content. The market trend is towards spending more time on entertainment, which has further resulted in an increase in demand for new series of webtoons. However, webtoons are only available to read online, and as the plots are short, there are not enough chapters to generate a print edition.

Webtoons are a type of digital comic created in South Korea that can be read on computers and mobile devices. Webtoons were relatively unknown outside Korea when they initially debuted, but their popularity has grown since success of manhwa webtoons (a general Korean term for comics and print cartoons). Digital manhwa has become more popular in the country due to user-friendly interface of webtoons apps.

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The webtoons industry is segmented on the basis of type, revenue model, application, and region. By type, the market is classified as comedy, action, sci-fi, horror, romance, and others. By revenue model, the market is classified as subscription based and advertisement based. By application, it is classified as mobile, tablets, laptop, and television. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter's five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

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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.

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