The Grow of The Global Webtoons Market

The market for webcomics was worth $3,745.6 million in 2021; by 2030, it is anticipated to generate $56,092.8 million in sales, growing at a CAGR of 36.8%.

Summary of the global webcomics market

Webtoons are predicted to increase in popularity outside of South Korea, particularly in India and Europe, where they are becoming popular as entertainment.In the realm of webcomics, India has come a long way. Korean Manhwa webtoon publishers also decide to translate their content internally into English to appeal to Western nations’ public.

Webcomics, on the other hand, are exclusively available online and typically have a minimal number of chapters, making print editions impossible. Since they significantly cut down on the requirement for and cost of drawing instruments like screen tones and sketching pens, webcomics are expected to have a significant amount of development potential.

Additionally, in 2019 India saw the debut of the best webtoons app. Korean webcomics from Kross Komics are available with translations into Telugu, Hindi, and English.

Overview

            Millions of people read webtoons,manhua, manga which are digital or internet comics. Webcomics, which were first popularized in South Korea, are now becoming increasingly popular in Europe and other parts of the world. On a smartphone or tablet, webtoons are essentially online comics. In addition, webtoonists—specialists in webcomics and readers of comics—are currently striving to make webcomics using programs like Canvas, Medibang, and others.

The influence of Covid-19 on the market

Throughout the epidemic, consumers have quickly switched to online channels, and businesses and industries have adjusted.

Moreover, they show that adoption rates are higher in developed Asia than in other regions, and not only years ahead of where they were in past surveys. Because it makes individuals feel less frightened and stressed out, especially those who are in lockdown, there has been an increase in the consumption of digital webtoon content. Thus, consumers who opt to stay at home can enjoy high-quality television and motion pictures on a few displays from various sources.

Webtoons Are Becoming More Popular in the Entertainment Industry

            The Graphics India Group established the popular comics platform Toonsutra in April 2021 for mobile devices. There will also be webtoons based on well-known Indian TV shows and movies, such as “The Legend of Hanuman” and “Baahubali.” Toonsutra is anticipated to rise to prominence as one of the key venues for the production of imaginative and enjoyable comic stories worldwide.

The transition from comic books to webcomics

            As a result of the large cost and demand reduction for drawing tools like screen tones and sketching pens, webtoons are anticipated to have great development potential. The webtoon industry’s businesses are also concentrating on introducing new series and engaging content to draw in sizable audiences. Manhwa Content Agency organized the “ON, WEBTOON” exhibition in February 2022 to increase the appeal of webtoons in Malaysia and Japan.

Types of webtoon

The market has been segmented into comedy, action, sci-fi, horror, romance, and other genres based on type.  These, the comedy sub-segment held the largest market share in 2021, however, the romance sub-segment is anticipated to increase at the quickest rate over the projected period.

Revenue Model

            Subscription-based and advertisement-based markets have been established based on revenue models. The mobile web and Internet have transformed existing cartoons into a new type of webtoon, and webtoon cartoons have attracted a lot of interest from corporations and Internet users. A webtoon’s content can expand thanks to webtoon commercials, which are becoming more and more popular as a lighthearted way to increase corporate marketing.

Regional Insights

            During the forecast period, the Asia-Pacific webtoons market is anticipated to expand at a CAGR of 36.7%. With the top webtoons apps attracting more than 70 million monthly users and producing more than 100 billion views annually, the webtoons platform has surged in popularity throughout Asia. Malaysia had the highest level of interest, with more than 60% of respondents stating that they were interested, according to research on the popularity of Korean webtoons conducted in 2021 across numerous countries.