Webtoons Market on Track for Strong Growth, Estimated to Grow at 30.4% CAGR Through 2029

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What Is the Expected CAGR for the Webtoons Market Through 2025?
The worth of the webtoons market has been escalating rapidly in recent years. The market size is projected to increase from $8.24 billion in 2024 to $10.78 billion in 2025, yielding a compound annual growth rate (CAGR) of 30.8%. The expansion during the historical period can be credited to the augmented popularity of digital comics and online storytelling platforms, the proliferation of smartphones, the escalating demand for mobile-friendly and readily available entertainment content, a surge in the trend towards digitalization, and growth in content digitization and mobile-first consumption.

What's the Projected Size of the Global Webtoons Market by 2029?
There is an expected surge in the webtoon market size in the upcoming years. It is predicted that by 2029, the market will achieve a value of $31.21 billion with a compound annual growth rate (CAGR) of 30.4%. The predicted growth during this forecast period is due to the increasing utilization of digital platforms and gadgets, mobile-based subscriptions, and the rising demand for webtoons on devices such as mobile phones, PCs/notebooks, and tablet computers. Furthermore, an increase in internet users and a broader range of genres and themes also contribute to this growth. In this forecast period, the major trends include technological advancements, product innovation, mergers and acquisitions, collaborations between broadcasting networks, and expansion of copyrighted content.

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Top Growth Drivers in the Webtoons Industry: What's Accelerating the Market?
The proliferation of digital entertainment platforms is projected to fuel the expansion of the webtoon market in the future. These platforms encompass online amenities that deliver diverse entertainment content like streaming of films, TV series, music, podcasts, and video games. The surge in these platforms is attributed to cost-effectiveness, consumer demands, and improved data usage. Webtoons serve as an impactful and captivating form of entertainment content on these digital platforms, appealing to a vast user base, encouraging community engagement, creating monetization prospects, and enriching the user's experience. In 2023, Netflix, an American subscription-based video-on-demand over-the-top streaming service and webtoon provider, experienced a revenue increase of 6.6% year on year, amounting to $33.7 billion. Concurrently, the firm's net income grew by 20.4% to $5.4 billion, and its customer count surged to 238.3 million globally. As a result, the burgeoning digital platforms are propelling the advancement of the webtoon market.

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What Trends Will Shape the Webtoons Market Through 2029 and Beyond?
Predominant companies in the webtoons market are strategizing towards producing innovative merchandise such as serialized fiction apps to attain a competitive advantage. A serialized fiction app operates as a medium where stories are distributed in sections, typically in accordance with a consistent timetable, offering features including update notifications, bookmarking, and social interaction. For example, in October 2022, NAVER WEBTOON Ltd., an American creative storytelling platform, introduced Yonder, an exclusive app dedicated to serialized fiction. The app presents a high-quality, meticulously selected range of hundreds of titles spanning across different genres. Yonder partners with publishers to rejuvenate old collections and to tailor stories to suit the platform. The app, free of charge on Android, is due for imminent release on iOS devices. Yonder operates on a pay-per-read basis, providing readers with a unique approach to exploring and finding new stories.

What Are the Main Segments in the Webtoons Market?
The webtoons market covered in this report is segmented -

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

Subsegments:
1) By Subscription-Based: Monthly Subscription, Annual Subscription, Pay-Per-Chapter
2) By Advertisement-Based: Banner Ads, Video Ads, Sponsored Content

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Which Top Companies are Driving Growth in the Webtoons Market?
Major companies operating in the webtoons market are NAVER Corporation, Kakao Corporation, Bilibili Inc., KRAFTON Inc., NETMARBLE Corporation, KIDARISTUDIO Inc., D&C Media Co.Ltd., Manta Media Inc., Shueisha Inc., Toomics Global Co. Ltd., RIDI Corporation, NHN Comico Corporation, Lezhin Entertainment LLC, Mr. Blue Corporation, Sidewalk Group, TappyToon, Tapas Media, NETCOMICS INC., Webtoon Factory, Foxtoon, Seven Seas Entertainment Inc., Cross Infinite World, Mangatoon HK Limited

Which Regions Will Dominate the Webtoons Market Through 2029?
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.

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