Webcomics Market Opportunities and Strategies to 2033: North America and Western Europe to Witness 6.7% and 5.9% CAGR, with Mobile Applications Dominating
Dublin, May 01, 2024 (GLOBE NEWSWIRE) -- The "Webcomics Global Market Opportunities and Strategies to 2033" report has been added to * ResearchAndMarkets.com's* offering.
The global webcomics market reached a value of nearly $8.63 billion in 2023, having grown at a compound annual growth rate (CAGR) of 7.8% since 2018. The market is expected to grow from $8.63 billion in 2023 to $11.39 billion in 2028 at a rate of 5.7%. The market is then expected to grow at a CAGR of 6.2% from 2028 and reach $15.38 billion in 2033.
Growth in the historic period resulted from the increasing internet penetration in rural and urban areas, increasing adoption of digital comic books and advances in non-fungible tokens (NFT) comics. Factors that negatively affected growth in the historic period were increase in websites showcasing pirated content and preference for physical books over webcomics.
Going forward, increase in social media influencers, increasing availability of smartphones and tablets and rise in consumer spending per capita will drive the growth. Factor that could hinder the growth of the webcomics market in the future include increasing availability of substitute products.
The webcomics market is segmented by type into subscription webcomic and advertising webcomic. The subscription webcomic market was the largest segment of the webcomics market segmented by type, accounting for 59.3% or $5.11 billion of the total in 2023. Going forward, it is expected to be the fastest growing segment in the webcomics market segmented by type, at a CAGR of 6.3% during 2023-2028.
The webcomics market is segmented by application into mobile phone, laptop, tablet and other applications. The mobile phone market was the largest segment of the webcomics market segmented by application, accounting for 52.2% or $4.5 billion of the total in 2023. Going forward, it is expected to be the fastest growing segment in the webcomics market segmented by application, at a CAGR of 6% during 2023-2028.
Asia-Pacific was the largest region in the webcomics market, accounting for 44% or $3.79 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the webcomics market will be North America and Western Europe where growth will be at CAGRs of 6.7% and 5.9% respectively. These will be followed by Asia Pacific and South America where the markets are expected to grow at CAGRs of 5.8% and 4.7% respectively.
The global webcomics market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 20.55% of the total market in 2022. The market concentration can be attributed to the presence of large number of players in different geographies. Prominent players are acquiring the products and entering into partnerships with the other companies to consolidate their market positions across the globe, while others are distributing products. The Walt Disney Company was the largest competitor with a 6.21% share of the market, followed by Naver Corp with 4.68%, Warner Bros. Discovery, Inc with 2.71%,
The top opportunities in the webcomics market segmented by type will arise in the subscription webcomic segment, which will gain $1.82 billion of global annual sales by 2028. The top opportunities in the webcomics market segmented by application will arise in the mobile phone segment, which will gain $1.53 billion of global annual sales by 2028. The webcomics market size will gain the most in China at $737.1 million.
Market-trend-based strategies for the webcomics market include launch of online applications and platforms to boost sales and extend reach, strategic collaborations and partnerships to provide new content, leveraging new product development to meet shifting customer demands, adaption of novels and comic books to webcomics and transforming webcomics into interactive video games.
Player-adopted strategies in the webcomics market include expanding operational capabilities through strategic partnerships.
To take advantage of the opportunities, the analyst recommends the webcomics companies to focus on new product development, focus on strategic adaptation initiatives, focus on engaging video game adaptations, focus on enhanced accessibility through innovative apps, focus on subscription webcomics, expand in emerging markets, continue to focus on developed markets, focus on strategic collaborations for market expansion, focus on optimal distribution channels for webcomics, provide competitively priced offerings, focus on strategic pricing for webcomics, focus on comprehensive promotion strategies for webcomics and focus on mobile phone users.
*Report Scope*
This report describes and explains the webcomics market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
*Markets Covered:*
1) By Type: Subscription Webcomic; Advertising Webcomic
2) By Application: Mobile Phone; Laptop; Tablet; Other Applications
*Key Companies Mentioned:* Walt Disney Company; Naver Corp; Warner Bros. Discovery, Inc; Shueisha Inc; Embracer Group (Dark Horse Media)
*Countries:* China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
*Regions:* Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
*Time Series:* Five years historic and ten years forecast.
*Data:* Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; webcomics indicators comparison.
*Data Segmentation:* Country and regional historic and forecast data; market share of competitors; market segments.
*Key Attributes*
*Report Attribute* *Details*
No. of Pages 219
Forecast Period 2023-2033
Estimated Market Value (USD) in 2023 $8.6 Billion
Forecasted Market Value (USD) by 2033 $15.4 Billion
Compound Annual Growth Rate 6%
*Key Topics Covered:*
1 Executive Summary
2 Table of Contents
3 List of Tables
4 List of Figures
5 Report Structure
6 Market Characteristics
7 Major Market Trends
8 Webcomics Market - Macro-Economic Scenario
9 Global Market Size and Growth
10 Global Webcomics Market Segmentation
11 Webcomics Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Competitive Benchmarking
21 Competitive Dashboard
22 Key Mergers and Acquisitions
23 Opportunities and Strategies
24 Webcomics Market, Conclusions and Recommendations
25 Appendix
*A selection of companies mentioned in this report includes, but is not limited to:*
· Walt Disney Company
· Naver Corp.
· Warner Bros. Discovery, Inc.
· Shueisha Inc.
· Embracer Group (Dark Horse Media)
· NHN Corp
· Kakao Corp
· KADOKAWA CORPORATION
· Lezhin Entertainment, LLC
· Toomics Global Co. Ltd.
· Kuaikan Manhua
· Tencent
· China Literature
· Tapas Media
· Holy Cow Entertainment
· Diamond Toons
· Chariot Comics
· Yali Dream Creations
· Panini
· Hachette Partworks
· Forbidden Planet International
· Downthetubes.net
· Get Your Comic On
· Boom Studios
· Webtoon Polska
· Kultura Gniewu
· Image Comics
· DC Entertainment
· Conundrum Press
· DW Media Holdings, Inc.
· Tapas
· WEBTOON Israel
· Turktoon
· Comic Republic
· YouNeek Studios
For more information about this report visit https://www.researchandmarkets.com/r/cwrjxd
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*Attachment*
· Global Webcomics Market
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