According to the Internet Corporation for Assigned Names and Numbers (ICANN), the number of new gTLD registrations has been rising. The Phase II assessment of the new gTLD program report which was commissioned by ICANN, compared the changes in the domain name marketplace since the publication of the Phase I assessment in September 2015.
The study found that the average retail price for registrations of both, legacy and new gTLDs has declined since Phase I. The number of new gTLD registrations has increased from 3.48 million in November 2014 to 16.57 million as of March 2016.
The study stated :
New gTLD registrations now account for approximately 9 percent of all gTLD registrations, as opposed to 2 percent in November 2014.
The study also found that registrars in China have become more prevalent and have the largest share of new gTLD registrations. They also reported that the largest percentage growth in the number of registry operators was seen in the Asia Pacific and European regions.
ICANN said it is unable to conclude whether the new program has affected competition in the domain name marketplace. However the report said:
Some of these changes in the past year are consistent with what one would expect to see in a marketplace with increased competition.