Pune, India, Dec. 19, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global webcomics market size is expected to gain momentum by reaching USD 11.12 billion by 2028 while exhibiting a CAGR of 6.1% between 2021 to 2028. In its report titled "Webcomics Market, 2021-2028," Fortune Business Insights mentions that the market stood at USD 6.70 billion in 2020.
The growing number of kids and adults who have access to smart devices or a computer with an internet connection can develop a webcomics. Moreover, the investors are willing to support the market if the comic is engaging. For instance, The Oatmeal webcomics mentioned that in 2019, the Chernin Group (TCG) signed an agreement with the brand to invest USD 30 million in one of its comics called exploding kittens. Such initiatives will fuel the market growth in upcoming years.
COVID-19 Impact
The pandemic favored the growth of web comics as, during the lockdown, usage of smart devices and internet data surged all over the world. This led to a spike in the consumption of various types of content that helped in relieving stress and anxiety among the people. India's Premium News Publication, Mint, stated that mobile browsing activity rose by almost 40% in India. Moreover, the usage of books and comics also skyrocketed as schools and colleges were shut. This propelled the demand for comic content among children of various ages. Thereby boosting the market growth.
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Webcomics Market Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast CAGR | 6.1% |
| 2028 Value Projection | USD 11.12 Billion |
| Base Year | 2020 |
| Webcomics Market Size in 2020 | USD 6.70 Billion |
| Historical Data | 2017-2019 |
| No. of Pages | 160 |
| Segments Covered | By Type, By Region |
| Webcomics Market Growth Drivers | Rising Adoption of Technology to Aid Market Development |
| Growth of Social Media and Rise in Qualified Creators to Spike Demand |
Fortune Business Insights™ lists out all the webcomics market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Homestuck (United States)
- Penny Arcade Inc. (Redmond, WA, United States)
- The Oatmeal (Seattle, Washington, United States)
- Cucumber Quest (California, USA)
- Girl Genius (Seattle, WA, USA)
- Gunnerkrigg Court (Birmingham, United Kingdom)
- Stand Still, Stay Silent (Sweden)
- Brawl in the Family (United States)
- XKCD (United States)
- Lackadaisy (United States)
- Sandra and Woo (Germany)
- Scandinavia and the World (Denmark)
What does the Report Provide?
The market report provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth.
Driving Factor
Rising Number of Internet Users to Propel Market Growth
The rising digitalization, along with the growing number of people accessing the internet for almost every type of entertainment content, is expected to boost the global webcomics market growth. In addition, the increasing usage of digital platforms is likely to surge the demand for online comics globally. The comic industry has experienced skyrocketing traffic as comic writers have been uploading their comics on websites. Such factors are expected to bode well for the growth of the market during the forecast period.
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Market Segmentation:
By type, the market is divided into kids and adults.
- Based on type, the adult segment held a market share of 80.19% in 2020. This is attributable to the large millennial generation who grew up watching and consuming comics as one of their major sources of entertainment. This makes them still intrigued by the comic content in web comics
Finally, the market is categorized into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa based on region.
Regional Insights
Asia Pacific to Remain at Forefront Backed by Booming Anime Industry
Asia Pacific is expected to hold the highest global webcomics market share during the forecast period. This is ascribable to the rising youth population that has resulted in increased demand for digital comics. For instance, a report from the United Nations Department of Economic and Social Affairs in August 2019 stated that Central and Southern Asia has over 361 million youth. Additionally, the flourishing Japanese anime worldwide is assisting in attracting more consumers. For instance, the Association of Japanese Animation data mentions that in 2019 the growth in the anime industry was 15.1 % from the previous year. The region stood at USD 3.20 billion in 2020.
North America is expected to experience significant growth during the forecast period owing to the rising number of children possessing their smartphones. This has increased the number of web-based comic readers, therefore promoting the growth of the regional market.
Rеаѕоnѕ to Get thіѕ Rероrt:
- A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
- Data on market value for each section and sub-segment
- Indicates the region and market segment that is likely to expand the fastest and dominate the market.
- The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.
- The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain and Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities Due to COVID-19
- Global Webcomics Market Analysis, Insights, and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Kids
- Adults
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type (Value)
TOC Continued…!
Competitive Landscape
Key Players to Focus on Acquisitions to Strengthen Their Positions
The market is consolidated by major companies striving to maintain their position by focusing on facility expansion and acquisitions. For instance, in March 2020, Iron Circus Comic partnered with a web comic brand Lackadaisy to create an animated short based on the strip. With this partnership, Trotman is planning to expand the reach of Iron Circus Comics with a new multimedia campaign. Moreover, other key players adopt proactive strategies such as new partnerships, mergers, and collaborations to favor the market's growth in the upcoming years.
Industry Development
- March 2021 – Stand Still, Stay Silent published a new comic named Lovely. This comic talks about three best friends: an aspiring social media influencer, a Christian homemaker, and a mother-of-three grade-school teacher.
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Frequently Asked Questions (FAQs):
1. Is the Webcomics Industry growing?
Answer: Fortune Business Insights states that the market size was USD 6.70 billion in 2020 and is projected to reach USD 11.12 billion by 2028.
2. Who are the key players in the Webcomics Market?
Answer: Cucumber Quest (California, USA), Homestuck (United States), Penny Arcade Inc. (Redmond, WA, United States), and The Oatmeal (Seattle, Washington, United States) are some of the major players in the market.
3. What are Key Factors Raising the Market?
Answer: The thriving usage of smart devices acts as a driving factor for market growth.
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