Universal Acceptance of Domain Names is a USD 9.8 Billion Opportunity As Per the Reports

2017-04-15 09:43 Posted by: Judy in Domain, News Go to Comment

As per a new study, it has revealed that around 9.8 billion US dollars opportunity is the expected potential in the field of online revenue generation. This result has been generated with the help of the routine update into the Internet systems. The routine update included those for the speakers of the languages as well that do not make use of the English script.

 

The report was generated by the technology consulting and research firm named Analysys Mason. This was report was commissioned by the Universal Acceptance Steering Group (UASG). The report clearly signifies the economic, cultural as well as the social benefits of the UA (Universal Acceptance) of several Internet domains.

UA (Universal Acceptance) is the integral requirement for the multi-linguistic Internet wherein the users across the world can navigate with much ease in the local languages. Universal Acceptance is also the key to unlocking the true potential of several new collective (generic) top-level domains (gTLDs) for fostering competition, innovation and consumer choice in the industry of the domain names.

The DNS (Domain Name System) has grown rapidly and includes more than 1,200 gTLDs. Several top-level domains quite longer than the legacy of the three-character domain name (like the .com, .org and .edu). Most of the top-level domains are present in the non-Latin based scripts like the Arabic, Cyrillic, or Chinese.

With this provision, the individuals can select a domain name that can best reflect the sense of language and identity. However, several online systems do not recognize such domain names and do not consider them to be valid. For instance, issues might come up when the user would enter a domain name or the related email address into an online form on any website and then it gets rejected. This would put the user into a great frustration and would several major opportunities for the company to get hold of a new customer. In addition to this, it also reduces the social, economic, and cultural benefits that are available on the Internet.

The Chairman of USAG Ram Mohan said that for excelling in the long run, the organizations must grab the opportunity as well as the responsibility. This would ensure that the systems work within the common infrastructure of the Internet. Moreover, the NGOs and the government organizations will be able to serve the constituencies as well as the citizens by the acceptance of the Universal Acceptance.

The newly launched research estimates the fact that the support for IDNs (International Domain Names) can allow the domain names across the world in all possible languages. This could bring around 17 million users on the online platform. This would include the users who would be in lack of the local language services that could be a barrier to the overall online experience of the users.

The estimates of the report are based on the examination of around 5 major languages as well as the language groups. This could benefit from the IDNs as they make use of the non-Latin scripts like Chinese, Arabic, Russian, Indic and the Vietnamese language groups. They also make use of the greater proportion of the non-Internet users for whom the local language is a great barrier. The research reveals that the online spending with the help of these new IDN users can start at the rate of USD 6.2 billion per year.

In addition to this, the report has revealed that there could be a potential increase in the revenues from the existing gTLD users. As per one study, around 13 percent of the websites had rejected the new domain names with more than three letters. This too could increase the online revenues by around USD 3.6 billion per year as the result of the Universal Acceptance. When these would be combined, it would sum up to around USD 9.8 billion annual opportunities. This would stem up from the software systems to work in harmony with the common Internet infrastructure.

The Principal at Analysys Mason, Andrew Kloeden said that the main hindrance to the Universal Acceptance is the lack of awareness about the issue in comparison to any sort of technical challenge. The organizations across the world have developed significant progress towards the Universal Acceptance (UA). However, there is more work to be done. The case studies that have been presented in the report have revealed that several large global companies like the Verizon, Adobe, Twitter and Wells Fargo have implemented the required changes to make the customer experience ready for the Universal Acceptance.

However, the entire process is yet not complete. Several applications have not yet accepted the new domains. Universal Acceptance (UA) had progressed quite less for the IDNs in comparison to the gTLDs. All that we could hope for is that the other companies adopt the Universal Acceptance for the ease of the online experience of the users.

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