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IC22068584 |
Pages: 265 |
Jun 2022 |
Rising popularity of webtoons beyond South Korea, especially in India and Europe, as it provides entertainment to people is estimated to drive the webtoons market share. India has made significant progress in the webtoons industry. For instance, in April 2021, The Graphics India Group launched Toonsutra, the popular comic platform for mobile devices. Furthermore, the Korean webtoon providers are opting for in-house translations in English to cater to the audience across western countries. For instance, in July 2021, TopToon’s TopToonPlus gained more than 200,000 subscribers in its first month of service and reached its English-speaking global fan base. The increasing popularity of webtoons can be attributed to fantasy world created by professionals where people from all age groups can enjoy different genres of webtoons such as comedy, romance, fantasy, thrillers, and others. All these factors are anticipated to boost the webtoons’ popularity across the world.
However, webtoons can only be read online, and a bulk of them are so short that there are not enough chapters to generate a print edition. Furthermore, various artists featured in webtoons programmes are amateurs, which may cause quality and level of the webtoons story to disappoint readers. All of these limitations are predicted to limit webtoons market in coming years.
Webtoons are expected to provide considerable development potential as they have significantly decreased the cost and requirement for drawing instruments such as screen tones and drawing pens. Webtoons are made out of vertically oriented images that allow users to scroll from top to bottom, allowing designers to present a single large image on a smartphone or tablet. As a result of this structure, webtoons are less restricted in terms of image ‘layout’, which is vital for storytelling. Furthermore, in India, the first webtoons app called Kross Komics was launched in 2019. Kross Komics offers Korean webtoons that are translated in Hindi, English, and Telugu. Kross Komics have recorded 3.5 million downloads. These factors are anticipated to boost revenue growth of the global webtoons market in the forecast period. The Korean webtoons industry is becoming quite popular across several countries which are top investment pockets for the webtoons market.
Webtoons are digital comics or online comics that are drawing millions of readers. Webtoons are a combination of ‘world wide web’ and ‘cartoon’. Webtoons, originated in South Korea, are eventually spreading their popularity in Europe and across the world. Webtoons are basically online comics that can be read on a smartphone or tablet. They are vertical strips that are read by scrolling up or down and they are appealing with visual texts and images. Webtoons have gained huge popularity among teenagers. In addition, the webtoons specialists and comic readers known as webtoonists are now working on creating webtoons on applications namely Canvas, Medibang, Procreate, and others.
During the pandemic, consumers have moved dramatically toward online channels, and companies and industries have responded in turn. The survey results confirm the rapid shift toward customer interaction via digital channels. They also show that adoption rates are years ahead of where they were in previous surveys and even higher in developed Asia than in other regions. As a result, there has been a surge in the consumption of digital webtoons content, as it aids to reduce tension and stress, particularly among those under lockdown.
In 2020, the global pandemic impacted the theatrical and home/mobile entertainment industry, with movie theatres and production businesses temporarily closing. While millions of people were restricted, viewers were forced to stay at home for audiovisual entertainment. As a result, consumers who prefer to stay at home can watch premium television and movies on a few screens and from a range of providers.
In India and Europe, webtoons are becoming very popular. India, for example, made great strides in the webtoons business in early 2021. Toonsutra, a famous comic’s platform for mobile devices, was founded in April 2021, by The Graphics India Group. In addition, webtoons based on popular Indian TV episodes and films such as ‘The Legend of Hanuman’ and ‘Baahubali’ will be available. Toonsutra is expected to become one of the most important storytelling platforms for creating entertaining and inventive comic stories across the world. In addition, digital comic’s content is increasing rapidly in mainland China and Taiwan, and the sector is booming in Indonesia, India, and Thailand.
To know more about global webtoons market drivers, get in touch with our analysts here.
Webtoons can only be read online, and as bulk of them are quite short, there are not enough chapters to generate a print edition. Furthermore, various illustrators included in webtoons programmers are amateurs, resulting in quality and level of webtoons stories disappointing readers. Further economic factors like inflation, income distribution, employment rate, demographics, GDP growth etc. have a great impact on the webtoons market demand. People with higher disposable income tend to spend more on entertainment. People in developing countries are price sensitive and prefer to spend less on entertainment. However, India has one of the best media industries, and it is estimated to grow more in children genre owing to huge population of youth. All of these limitations are expected to limit the appeal of webtoons in the coming years.
Webtoons are expected to provide considerable development potential due to the fact that these digital comics have significantly decreased the cost and requirement for drawing instruments such as screen tones and sketching pens. Webtoons are made up of vertically oriented images that can be scrolled from top to bottom, allowing designers to present one enormous image on a mobile or tablet. As a result of this structure, webtoons are less constrained in terms of image ‘layout’, which is vital for storytelling. Additionally, companies operating in the webtoon market are focusing on launching new series and fresh content to attract significant users. For instance, in April 2022, Naver Webtoon, the popular South Korean webtoon publisher, launched new series of DC Comics webtoon dubbed Vixen. Additionally, in the coming months, Naver Webtoon is planning to unveil two more DC Comic series namely ‘Zatanna & The Ripper’ and ‘The Red Hood: Outlaws’. To boost the popularity of webtoons across Japan and Malaysia, Manhwa Content Agency, conducted an exhibition called ‘ON, WEBTOON’, in February 2022.
To know more about global webtoons market opportunities, get in touch with our analysts here.
Based on type, the market has been divided into comedy, action, sci-fi, horror, romance, and others. Among these, the comedy sub-segment accounted for the highest market share in 2021, whereas the romance sub-segment is estimated to show the fastest growth during the forecast period.
Source: Research Dive Analysis
The comedy sub-type is anticipated to have a dominant market share by 2030. Webtoons and digital webtoons industries are expanding at the rapid pace. The digital webtoons comedy market and technological advancements in the communication and television industry are major drivers for the global webtoons market revenue growth. In addition to this, in the recent comedy webtoons movies, adoption of visual effects technology is increasing, which is projected to have positive effect on the global market revenue growth. Increasing comedy entertainment and media industry is anticipated to create a number of opportunities for the industry growth in the near future.
The romance sub-type is anticipated to show the fastest growth between 2021 and 2030. Romance webtoons is gradually becoming a popular medium for reading online comics and watching webtoons, with romance being one of the most popular genres. Furthermore, the romance genre has produced many of the app's highest-rated cartoons, which has been the primary source of new users. The various toons are all available, [A1] [AA2] allowing readers to binge series to their hearts' content, and are usually updated weekly, dependent on the webtoons creator.
Based on application, the market has been divided into mobile, laptop, tablets, and television. Among these, the mobile sub-segment accounted for highest revenue share in 2021.
Source: Research Dive Analysis
The mobile sub-segment is anticipated to have a dominant market share by 2030. Several mobile content providers have recently built their own mobile comics systems, some of which use java-based apps that must first be downloaded to the phone. Others deliver strips through Multi-Media Messaging and Wireless Application Protocol subscriptions. However, solutions for the iPhone and iPad have been developed to distribute RSS-based web comics for free, such as Comic Avenue for iOS.
Based on revenue model, the market has been divided into subscription based and advertisement based. Among these, the advertisement based sub-segment accounted for highest revenue share in 2021.
Source: Research Dive Analysis
The advertisement based sub-segment is anticipated to have a dominant market share by 2030. In terms of variety and ideas, mobile and Internet-based content is rapidly developing. Due to the mobile web and Internet, existing cartoons have evolved into a new form of webtoons, and webtoons cartoons have garnered a lot of attention from businesses and Internet users. Webtoons have just lately become popular as a form of connecting with clients. Webtoons advertisements, which are gaining popularity as a fun way to boost business marketing, can also help webtoons content grow. Commercials in webtoons are coming in a variety of formats and webtoons, and their popularity is predicted to increase.
The webtoons market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Asia-Pacific webtoons market is projected to grow with a CAGR of 36.7% during the forecast period. Webtoons platform has exploded in popularity across Asia, with the top webtoons apps attracting more than 70 million monthly users and generating over 100 billion views each year. The region's large youth population has boosted number of digital comic readers, which has aided industry market growth. For example, according to the United Nations Department of Economic and Social Affairs, in August 2019, that Central and Southern Asia have 361 million youngsters, the world’s largest. Similarly, rising popularity of Japanese amine is expected to increase demand for webtoons. As per analysis, the animation sector in Japan grew by 15.1% in 2019 which is further expected grow better in near future.
South Korean webtoons is a developing sector in the worldwide entertainment market due to their successful use of innovation. South Korean webtoons has become a gold mine for the business, with films and TV series being released on streaming services. As per analysis in 2021, across many nations on the popularity of Korean webtoons, Malaysia had the highest degree of curiosity, with over 60% of respondents indicating that they were intrigued.
Source: Research Dive Analysis
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.
| Aspect | Particulars |
| Historical Market Estimations | 2020-2021 |
| Base Year for Market Estimation | 2021 |
| Forecast Timeline for Market Projection | 2021-2030 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Type |
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| Segmentation by Application |
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| Segmentation by Revenue Module |
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| Key Companies Profiled |
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1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.5.Market size estimation
1.5.1.Top-down approach
1.5.2.Bottom-up approach
2.Report Scope
2.1.Market definition
2.2.Key objectives of the study
2.3.Report overview
2.4.Market segmentation
2.5.Overview of the impact of COVID-19 on Global webtoons market
3.Executive Summary
4.Market Overview
4.1.Introduction
4.2.Growth impact forces
4.2.1.Drivers
4.2.2.Restraints
4.2.3.Opportunities
4.3.Market value chain analysis
4.3.1.List of raw material suppliers
4.3.2.List of manufacturers
4.3.3.List of distributors
4.4.Innovation & sustainability matrices
4.4.1.Technology matrix
4.4.2.Regulatory matrix
4.5.Porter’s five forces analysis
4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity
4.6.PESTLE analysis
4.6.1.Political
4.6.2.Economical
4.6.3.Social
4.6.4.Technological
4.6.5.Environmental
4.7.Impact of COVID-19 on webtoons market
4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario
5.Webtoons Market Analysis, by Type
5.1.Overview
5.2.Comedy
5.2.1.Definition, key trends, growth factors, and opportunities
5.2.2.Market size analysis, by region
5.2.3.Market share analysis, by country
5.3.Romance
5.3.1.Definition, key trends, growth factors, and opportunities
5.3.2.Market size analysis, by region
5.3.3.Market share analysis, by country
5.4.Action
5.4.1.Definition, key trends, growth factors, and opportunities
5.4.2.Market size analysis, by region
5.4.3.Market share analysis, by country
5.5.Horror
5.5.1.Definition, key trends, growth factors, and opportunities
5.5.2.Market size analysis, by region
5.5.3.Market share analysis, by country
5.6.Sci-fi
5.6.1.Definition, key trends, growth factors, and opportunities
5.6.2.Market size analysis, by region
5.6.3.Market share analysis, by country
5.7.Others
5.7.1.Definition, key trends, growth factors, and opportunities
5.7.2.Market size analysis, by region
5.7.3.Market share analysis, by country
5.8.Research Dive Exclusive Insights
5.8.1.Market attractiveness
5.8.2.Competition heatmap
6.Webtoons Market Analysis, by Application
6.1.Mobile
6.1.1.Definition, key trends, growth factors, and opportunities
6.1.2.Market size analysis, by region
6.1.3.Market share analysis, by country
6.2.Laptop
6.2.1.Definition, key trends, growth factors, and opportunities
6.2.2.Market size analysis, by region
6.2.3.Market share analysis, by country
6.3.Television
6.3.1.Definition, key trends, growth factors, and opportunities
6.3.2.Market size analysis, by region
6.3.3.Market share analysis, by country
6.4.Tablets
6.4.1.Definition, key trends, growth factors, and opportunities
6.4.2.Market size analysis, by region
6.4.3.Market share analysis, by country
6.5.Research Dive Exclusive Insights
6.5.1.Market attractiveness
6.5.2.Competition heatmap
7.Webtoons Market Analysis, by Revenue Model
7.1.Subscription Based
7.1.1.Definition, key trends, growth factors, and opportunities
7.1.2.Market size analysis, by region
7.1.3.Market share analysis, by country
7.2.Advertisement Based
7.2.1.Definition, key trends, growth factors, and opportunities
7.2.2.Market size analysis, by region
7.2.3.Market share analysis, by country
8.Webtoons Market, by Region
8.1.North America
8.1.1.U.S.
8.1.1.1.Market size analysis, by Type
8.1.1.2.Market size analysis, by Application
8.1.1.3.Market size analysis, by Revenue Model
8.1.2.Canada
8.1.2.1.Market size analysis, by Type
8.1.2.2.Market size analysis, by Application
8.1.2.3.Market size analysis, by Revenue Model
8.1.3.Mexico
8.1.3.1.Market size analysis, by Type
8.1.3.2.Market size analysis, by Application
8.1.3.3.Market size analysis, by Revenue Model
8.1.4.Research Dive Exclusive Insights
8.1.4.1.Market attractiveness
8.1.4.2.Competition heatmap
8.2.Europe
8.2.1.Germany
8.2.1.1.Market size analysis, by Type
8.2.1.2.Market size analysis, by Application
8.2.1.3.Market size analysis, by Revenue Model
8.2.2.U.K.
8.2.2.1.Market size analysis, by Type
8.2.2.2.Market size analysis, by Application
8.2.2.3.Market size analysis, by Revenue Model
8.2.3.France
8.2.3.1.Market size analysis, by Type
8.2.3.2.Market size analysis, by Application
8.2.3.3.Market size analysis, by Revenue Model
8.2.4.Spain
8.2.4.1.Market size analysis, by Type
8.2.4.2.Market size analysis, by Application
8.2.4.3.Market size analysis, by Revenue Model
8.2.5.Italy
8.2.5.1.Market size analysis, by Type
8.2.5.2.Market size analysis, by Application
8.2.5.3.Market size analysis, by Revenue Model
8.2.6.Rest of Europe
8.2.6.1.Market size analysis, by Type
8.2.6.2.Market size analysis, by Application
8.2.6.3.Market size analysis, by Revenue Model
8.2.7.Research Dive Exclusive Insights
8.2.7.1.Market attractiveness
8.2.7.2.Competition heatmap
8.3.Asia-Pacific
8.3.1.China
8.3.1.1.Market size analysis, by Type
8.3.1.2.Market size analysis, by Application
8.3.1.3.Market size analysis, by Revenue Model
8.3.2.Japan
8.3.2.1.Market size analysis, by Type
8.3.2.2.Market size analysis, by Application
8.3.2.3.Market size analysis, by Revenue Model
8.3.3.India
8.3.3.1.Market size analysis, by Type
8.3.3.2.Market size analysis, by Application
8.3.3.3.Market size analysis, by Revenue Model
8.3.4.Australia
8.3.4.1.Market size analysis, by Type
8.3.4.2.Market size analysis, by Application
8.3.4.3.Market size analysis, by Revenue Model
8.3.5.South Korea
8.3.5.1.Market size analysis, by Type
8.3.5.2.Market size analysis, by Application
8.3.5.3.Market size analysis, by Revenue Model
8.3.6.Rest of Asia Pacific
8.3.6.1.Market size analysis, by Type
8.3.6.2.Market size analysis, by Application
8.3.6.3.Market size analysis, by Revenue Model
8.3.7.Research Dive Exclusive Insights
8.3.7.1.Market attractiveness
8.3.7.2.Competition heatmap
8.4.LAMEA
8.4.1.Brazil
8.4.1.1.Market size analysis, by Type
8.4.1.2.Market size analysis, by Application
8.4.1.3.Market size analysis, by Revenue Model
8.4.2.Saudi Arabia
8.4.2.1.Market size analysis, by Type
8.4.2.2.Market size analysis, by Application
8.4.2.3.Market size analysis, by Revenue Model
8.4.3.UAE
8.4.3.1.Market size analysis, by Type
8.4.3.2.Market size analysis, by Application
8.4.3.3.Market size analysis, by Revenue Model
8.4.4.South Africa
8.4.4.1.Market size analysis, by Type
8.4.4.2.Market size analysis, by Application
8.4.4.3.Market size analysis, by Revenue Model
8.4.5.Rest of LAMEA
8.4.5.1.Market size analysis, by Type
8.4.5.2.Market size analysis, by Application
8.4.5.3.Market size analysis, by Revenue Model
8.4.6.Research Dive Exclusive Insights
8.4.6.1.Market attractiveness
8.4.6.2.Competition heatmap
9.Competitive Landscape
9.1.Top winning strategies, 2021
9.1.1.By strategy
9.1.2.By year
9.2.Strategic overview
9.3.Market share analysis, 2021
10.Company Profiles
10.1.Naver Corporation
10.1.1.Overview
10.1.2.Business segments
10.1.3.Product portfolio
10.1.4.Financial performance
10.1.5.Recent developments
10.1.6.SWOT analysis
10.2. Kakao Corporation
10.2.1.Overview
10.2.2.Business segments
10.2.3.Product portfolio
10.2.4.Financial performance
10.2.5.Recent developments
10.2.6.SWOT analysis
10.3.Lezhin Entertainment
10.3.1.Overview
10.3.2.Business segments
10.3.3.Product portfolio
10.3.4.Financial performance
10.3.5.Recent developments
10.3.6.SWOT analysis
10.4.Tappytoon Comics & webtoons
10.4.1.Overview
10.4.2.Business segments
10.4.3.Product portfolio
10.4.4.Financial performance
10.4.5.Recent developments
10.4.6.SWOT analysis
10.5.ToryComics Co., Ltd
10.5.1.Overview
10.5.2.Business segments
10.5.3.Product portfolio
10.5.4.Financial performance
10.5.5.Recent developments
10.5.6.SWOT analysis
10.6.Toomics Global Co., Ltd
10.6.1.Overview
10.6.2.Business segments
10.6.3.Product portfolio
10.6.4.Financial performance
10.6.5.Recent developments
10.6.6.SWOT analysis
10.7. Ridibooks (RIDI Corp)
10.7.1.Overview
10.7.2.Business segments
10.7.3.Product portfolio
10.7.4.Financial performance
10.7.5.Recent developments
10.7.6.SWOT analysis
10.8. KidariStudio
10.8.1.Overview
10.8.2.Business segments
10.8.3.Product portfolio
10.8.4.Financial performance
10.8.5.Recent developments
10.8.6.SWOT analysis
10.9. Webtoon Factory
10.9.1.Overview
10.9.2.Business segments
10.9.3.Product portfolio
10.9.4.Financial performance
10.9.5.Recent developments
10.9.6.SWOT analysis
10.10.Izneo Webtoon
10.10.1.Overview
10.10.2.Business segments
10.10.3.Product portfolio
10.10.4.Financial performance
10.10.5.Recent developments
10.10.6.SWOT analysis
11.Appendix
11.1.Parent & peer market analysis
11.2.Premium insights from industry experts
11.3.Related reports
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