Growing internet penetration is expected to drive the growth of South Korea webtoons market.
According to TechSci Research report, “South Korea Webtoons Market By Genre (Romance, Comedy, Action, Sci-Fi, Action, Horror, Others), By Revenue Model (Subscription Based v/s Advertisement Based), By Company, By Region, Forecast & Opportunities, 2027, the market is expected to grow at an impressive rate during the forecast period owing to the growing popularity of webtoons among the population in the country. Webtoons have replaced the printed manhwa works in the comic industry of South Korea. People often read webtoons while travelling to work on a daily basis. This in turn has spurred the demand for webtoons in the country.Furthermore, surging internet users in the country is further expected to drive the market growth over the next few years.
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In terms of genre, South Korea webtoons market is categorized into romance, comedy, action, sci-fi, action, horror and others. The romance segment followed by comedy is expected to hold significant market shares. This can be ascribed to the popularity of these genres among the users. Additionally, the webtoons creators are also making majority of their works on these genres only.
Some of the major players operating in South Korea webtoons market are Naver Corporation, Kakao Corporation, Lezhin Entertainment, Tappytoon Comics & webtoons, ToryComics Co., Ltd., Toomics Global Co., Ltd., among others.
South Korea webtoons market is expected to grow at an impressive rate during the forecast period. The South Korea webtoons market is driven by the growing internet penetration in the country. South Korea has the world’s highest broadband diffusion rate. The fast internet speed and mobile technologies allow the users to consume and share content with each other. This in turn is expected to positively influence the market growth through 2027. Furthermore, South Korea has a well-developed digital or OTT service platform, this facilitates easy distribution of webtoons content thereby fueling the market growth.
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“South Korea webtoons market is expected to grow significantly owing to their growing popularity not only in the country but also across the globe. The effect of Korean wave is clearly visible across the globe especially among the countries such as China, India, Indonesia, Vietnam, Singapore, among others in the Asia Pacific region. This in turn is expected to positively influence the market growth through 2025. Furthermore, the emergence of various webtoon developer companies and freelancers is expected to further bolster the market growth over the next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
The South Korea webtoons market is segmented based on genre, revenue model, company and region. Based on revenue model, the market can be split into subscription based and advertisement based. The subscription based revenue model is expected to dominate the market since users preferably take subscription for getting access to their favorite webtoon episodes.
“South Korea Webtoons Market By Genre (Romance, Comedy, Action, Sci-Fi, Action, Horror, Others), By Revenue Model (Subscription Based v/s Advertisement Based), By Company, By Region, Forecast & Opportunities, 2027”, has evaluated the future growth potential of South Korea webtoons market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in South Korea webtoons market.
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The major players operating in the webtoons market are Naver Corporation, Kakao Corporation, Lezhin Entertainment, Tappytoon Comics & webtoons, ToryComics Co., Ltd., Toomics Global Co., Ltd. and others. Major companies are using advanced animation technologies and launching new webtoons in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new content development.
- To analyze and estimate the market size of South Korea webtoons market from 2017 to 2020.
- To estimate and forecast the market size of South Korea webtoons market from 2021 to 2027 and growth rate until 2027.
- To classify and forecast South Korea webtoons market based on genre, revenue model, company and regional distribution.
- To identify dominant region or segment in the South Korea webtoons market.
- To identify drivers and challenges for South Korea webtoons market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in South Korea webtoons market.
- To identify and analyze the profile of leading players operating in South Korea webtoons market.
- To identify key sustainable strategies adopted by market players in South Korea webtoons market.
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