Webtoons Market: By Type (Comedy, Action, Romance, Horror, Sci-fi, and Others), By Revenue Model (Advertisement Based, and Subscription Based), By Application (Mobile, Laptop, Tablets, and Television), and Geography  

Webtoons Market size is expected to be valued at USD 3,943.2 million in 2022 and is poised to grow at a CAGR of 31.2% from 2022-2029. Webtoons are digital comics or online comics that can be read on a mobile, smartphone, or tablet. Webtoons are a combination of worldwide web and cartoon. They are vertical stripes that are read by scrolling up or down and they are alluring with visual texts and images. Webtoons market is primarily driven by the rise in the young population, they have much interest in watching and reading online content. Thus, webtoons have gained massive popularity among teenagers. Additionally, webtoons specialists and comic readers known as webtoons are now working on creating webtoons on applications namely Canvas, Medibang, Procreate, and others which also provide various online content by which this market has a chance to draw millions of customers. Webtoons can only be read online, and as the majority of them are quite short, there are not plenty of chapters to generate a printers edition. Besides, various illustrators comprised of webtoons programmers are amateurs, resulting in the quality and level of webtoons stories being unsatisfactory to readers. Moreover, economic factors like inflation, income distribution, employment rate, demographics, GDP growth, etc. have a major impact on the webtoons market demand. People with higher disposable income tend to spend more on entertainment. People in developing countries are value sensitive and prefer to spend less on entertainment. However, India has one of the best broadcasting industries, and it is predicted to grow more in the teenage and youth population. All these factors might hinder the market growth nowadays as well as during the forecasted period. Webtoons are anticipated to provide substantial development potential since these digital comics are available at a low cost. The COVID-19 pandemic had influenced various industries. Still, the webtoons market share experienced a positive impact owing to an upsurge in the number of people watching webtoons as well as an increase in several many new players entering the webtoons industry. Due to lockdown imposed across various regions, social distancing norms, and work-from-home orders, people spend a lot of time on entertainment-related aspects.