In 2021, the worldwide comic book industry was estimated to be worth USD 14.69 billion by Fortune Business Insights. With a CAGR of 4.8% during the projected period, the market is anticipated to increase from USD 15.35 billion in 2022 to USD 21.37 billion in 2029. The business is anticipated to increase as a result of rising comic book output and the increasing popularity of big-name graphic novel movies.
Due to a growing reliance on the internet, this sector was badly impacted by the COVID-19 epidemic. The establishment of strict lockdown standards was prompted by the alarming increase of COVID-19 infections. The product’s sales were aided by the fact that digital and physical comic book sales skyrocketed through internet retailers. For instance, according to data given by Live Mint, customer demand for comic books, novels, and mobile apps increased in March 2020 as a result of lockdown relaxations. During the epidemic, this factor accelerated market expansion.
Comic books no longer just appeal to children since the industry has expanded greatly. The use of fictitious characters to convey political criticism has long been a tradition in comic books as a form of art. Comic book authors, artists, and publishers now have more opportunities because to the growing use of digital technologies. Also anticipated to increase demand for graphic novels is the growing popularity of digital comics. Additionally, it is anticipated that the adoption of comics would be supported by the rising demand for smartphones, boosting sales. The market for comic books may rise as a result of these causes.
The global market for webcomics is anticipated to develop faster than average due to increased digitization and an increase in the number of individuals who access the internet for nearly all forms of entertainment. Additionally, as more people use digital platforms, there will certainly be a rise in demand for online comics worldwide. As comic writers have begun posting their comics on internet, the traffic in the comic industry has skyrocketed.
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