IBISWorld Industry Market Research: The U.S. Web Domain Name Sales Industry is Expected to Earn Revenue of $1.8 billion in 2016
Commerce has continually shifted toward the internet over the past decade and the industry has grown to support the continual rush of new enterprises and individuals. For this reason, industry research firm IBISWorld has updated a report on Web Domain Name Sales.
NEW YORK, Dec. 14, 2016 /PRNewswire/ -- Businesses' mounting demand for internet presence, coupled with individuals' increasing desire for personal web space, has driven revenue growth for web domain registrars over the five years to 2016. With the percentage of services conducted online jumping from 7.0% of all services in 2011 to 14.2% in 2016, the need for online presence has continuously strengthened. As a result, industry revenue is expected to grow at an annualized rate of 3.8% to $1.8 billion over the five years to 2016, including revenue growth of 6.0% in 2016 alone.
For the full report, visit IBISWorld's Web Domain Name Sales in the U.S. industry report page.
With the recently announced expansion of web domain name suffixes, or generic top-level domains (gTLD), the industry is set to expand to new frontiers over the five years to 2021. In 2013, the Internet Corporation for Assigned Names and Numbers (ICANN) announced the introduction of new web domain suffixes that are being rolled out on an ongoing basis. According to IBISWorld Industry Analyst Nick Petrillo, "This move essentially increases industry operators' available inventory, creating potential for higher sales volumes and stronger revenue growth." Coupled with mounting demand from internet publishing and broadcasting and growing demand for personal domain names, industry revenue is anticipated to grow strongly over the next five years.
Similar industries:
Data Processing & Hosting Services
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