As of year-to-date (YTD) 2024, the domain name market has continued its dynamic evolution, shaped by technological advancements, emerging trends, and shifting priorities among businesses and individuals. Here, we’ll provide an in-depth look at the market’s performance so far, including growth trends, dominant markets, popular TLDs (Top-Level Domains), and key geographic regions driving the industry.
1. Market Size and Growth Trends
The domain market has shown robust growth in 2024, with a projected market size reaching over $15 billion, a 6% increase from 2023. As of mid-2024, there are approximately 370 million domain name registrations worldwide, representing a 5% increase in total registrations compared to the previous year. This growth is primarily attributed to the continuing digitization of businesses across sectors and regions, as more companies recognize the value of an online presence. Emerging economies in regions like Southeast Asia and parts of Africa have seen some of the highest growth rates in new domain registrations, reflecting the expansion of digital economies in these areas.
The average price for premium domains has also increased by approximately 12% in the first half of 2024. High-value keywords, short domains, and industry-specific domains (e.g., .tech, .shop) continue to command premium prices, often auctioned in exclusive domain marketplaces and brokered deals.
2. Segmentation: Popular TLDs and the Rise of New gTLDs
The domain market can be divided into segments based on TLD types:
- Legacy TLDs: Traditional domains like
.com,.net, and.orgremain market leaders, with.comstill the most sought-after TLD globally. As of 2024,.comholds a significant portion of the domain market share, accounting for roughly 43% of all registered domains. However, growth in legacy TLD registrations has plateaued as businesses and individuals consider newer options. - Country-Code TLDs (ccTLDs): ccTLDs such as
.us,.de(Germany), and.cn(China) are particularly popular for brands that prioritize a localized digital presence. In 2024,.cnhas emerged as the leading ccTLD by registration volume, reflecting China’s continued push for online brand identity. Overall, ccTLDs represent around 35% of the total market. - New Generic TLDs (gTLDs): New gTLDs introduced in recent years, such as
.xyz,.online, and.shop, are gaining traction, particularly among tech startups, creative industries, and e-commerce businesses. The.xyzdomain has become especially popular with tech companies and blockchain-focused businesses due to its association with innovation and the Web3 movement.
A standout trend in 2024 is the growth of industry-specific gTLDs, with domains like .ai, .tech, and .shop showing remarkable popularity. The .ai domain, in particular, has been in high demand, driven by the global boom in artificial intelligence and machine learning startups.
3. Geographic Insights: Top Markets by Region
Geographically, several key regions continue to drive demand in the domain market:
- North America: The U.S. remains a dominant market, accounting for approximately 40% of global domain registrations. With the strong e-commerce sector, tech startups, and venture capital investment, domains related to e-commerce (e.g.,
.shop,.store) and technology (e.g.,.tech,.ai) have gained substantial popularity. - Europe: Europe is experiencing steady growth, with Germany, the United Kingdom, and France being the primary contributors. Businesses in these countries prefer both
.comand regional ccTLDs (e.g.,.de,.uk). The European Union’s push for digital transformation has also contributed to increased domain registrations in 2024. - Asia-Pacific: Asia, particularly China and India, has seen significant growth in domain registrations. China’s government support for domestic digital business has fueled
.cndomain registrations, while India, with its expanding digital economy, is contributing to the rise of.indomains. In addition, regional businesses increasingly invest in domains that resonate with the growing digital population, favoring newer gTLDs like.online. - Latin America & Africa: These regions, though representing a smaller share of the global market, are showing some of the fastest growth rates. African startups and businesses are increasingly registering ccTLDs like
.za(South Africa) and.ng(Nigeria). Latin America, particularly Brazil, has also seen a boost in ccTLDs (e.g.,.br) and gTLDs tailored for digital businesses, with many entrepreneurs choosing.onlineand.storedomains.
4. Key Market Players and Domain Marketplaces
The domain market has a variety of key players, including major registrars, domain marketplaces, and brokerage platforms. GoDaddy, Namecheap, and Google Domains continue to dominate as the most popular registrars. However, marketplaces like SEDO, Dan.com, and Afternic have gained traction for the resale of premium domains, with new gTLDs often fetching competitive prices. Additionally, exclusive auction platforms such as Flippa and DNForum are widely used for high-value domains, particularly by investors and brokers looking to buy and sell short, memorable, or keyword-rich domains.
At Domainpro we are proud affiliates of SEDO and we recommend the platform for the great professionalism in domain sales and transaction services.
A notable development in 2024 is the rise of decentralized domain platforms like Unstoppable Domains, which offer blockchain-based domains on extensions like .crypto, .nft, and .dao. These platforms are gaining appeal among tech and blockchain enthusiasts, providing an alternative to traditional domains that offer enhanced control and censorship resistance.
5. Emerging Trends in the Domain Market
- AI and Web3 Domains: As artificial intelligence and Web3 continue to shape the tech landscape, domains associated with these technologies, such as
.aiand.eth, have seen increased interest. Companies involved in AI research and Web3 projects are adopting domains that signal their involvement in cutting-edge fields. - Keyword-Specific Domains: SEO-friendly domains that include popular keywords remain valuable assets, particularly for small businesses and e-commerce. Keyword domains like
besttravel.comorhomedecor.shopcan improve search engine rankings and user perception, driving continued demand for relevant, easy-to-remember domains. - Sustainable and Eco-Friendly Domains: In response to rising consumer awareness of environmental issues, brands are increasingly interested in domains that reflect sustainability values. Domains like
.ecohave experienced steady growth as more businesses position themselves as eco-conscious.
6. Future Outlook
Looking forward, the domain market is poised for continued growth in 2024, driven by digital transformation across industries and the increasing importance of online presence. Regions like Southeast Asia, Africa, and Latin America are expected to see significant growth in domain registrations as digital adoption accelerates. Furthermore, the demand for niche gTLDs and blockchain-based domains is likely to grow as tech and Web3 developments unfold.
In summary, the domain market in 2024 is dynamic, with growth driven by a mix of legacy and new TLDs, expanding regional adoption, and evolving technological trends. Whether for branding, SEO, or technological alignment, domains continue to be a vital asset in the digital era.