Part of what has pushed the domain industry to new levels is a drastic increase in the number of small businesses owning websites. With the majority of people in developed nations online, businesses have finally realized the value of the web.
There are still quite a few firms stuck in the stone age, however. According to a recent study, 40% of small businesses have no online presence. At the same time, 80% of the companies surveyed with websites said the Internet was vital to their success.
Over the next decade, most of these businesses will not doubt go online, a sure sign that the domain industry will continue to grow. As more and more companies fight over fewer and fewer premium names, domain values are likely to skyrocket even further. They will also need web hosting, ensuring the future growth of that sector as well.