20 years before hardly few people were aware of domain names, because at that time internet itself was new. The birth of internet brought domain names into existence and both are complimentary. Without domains there is no internet and without internet domains have no meaning.
According to internetworldstats at present it’s estimated that 2.8 billion peoples are connected to the internet that roughly accounts to 39% of the total world population which is at present estimated to be 7.1 billion and counting. Developed countries share is around 77% and rest is developing economies.
The above stats shows that, when developing countries online population grows the demand for domain names may simultaneously increase. And, New gTLDs name space which is widely available now can best address the growing needs of developing and developed nations growing online population. As the years will pass, more and more generation will get online and it’s estimated that by year 2030 around 8.1 billion people will occupy the earth. If not all people at least all businesses may want to own a domain name and who knows the government may make it compulsory for the businesses to own a domain name.
All these stats are indicative of a healthy online trend which will grow and the telecommunication advancements enabling mobile devices to have an easy internet connection will virtually revolutionize the whole world resulting in greater people accessing the net. Especially the developing nations.
What is required with the New gTLD operators is to watch and match their marketing strategies with the trends taking place online and not just base their profitability models on short term aspects. The market is going to be huge in the future and by proper marketing they too can earn their share in the domain space. Instead of targeting .com it’s better for the new gTLD operators to find their niche and market.
Thousands of new gTLDs are meaningful and can do well if marketed well. It doesn’t mean moving existing domain registrants from .com and .net domains but rather finding the new bunch of registrants that are not yet online and or planning to go online. One factor may do the trick is the cost of registration. If new gTLDs start costing less than the existing TLDs, then new registrants especially of developing nations may find it cost effective. In my opinion new gTLDs are not late in entering the domain market as internet is not so old and still there are millions of businesses which are not yet online and not yet have a domain for their business.