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The report offers detailed segmentation of the global webtoons market based on type, revenue model, application and region.
PORTLAND, OR , UNITED STATES, UNITED STATES, May 10, 2023 /einpresswire.com / -- 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. 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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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.
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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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.
Major industry players such as - NAVER Corp., Kakao Corp., Lezhin Entertainment, Tappytoon, ToryComics, Toomics Global, Ridibooks (RIDI Corp), KidariStudio, Webtoon Factory, and Izneo Webtoon.
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Some of the Recent Product Launches, Product approval, Announces and Merger in Webtoon Market -
. In October 2020, Kakao Entertainment launched "Kakao Page," a new online content platform for webtoons, novels, and other digital content in South Korea.
. In August 2020, WEBTOON announced that it had surpassed 100 billion views on its platform, which features a wide range of webtoon genres, including romance, comedy, action, and drama.
. In July 2020, Naver announced the merger of its webtoon subsidiaries, WEBTOON and LINE WEBTOON, in order to create a stronger and more unified platform for global expansion.
. In June 2020, the popular webtoon "Tower of God" was adapted into an anime series, which premiered on the streaming platform Crunchyroll.
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Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
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