The domain names market saw 12 percent growth in sales last year, according to a new study.

Sedo revealed that year-on-year domain name transactions grew, while the value of each also increased as more companies looked to get their hands on an address for their website.

The Annual Domain Name Market Study found that the average .com domain name value grew by 61.9 per cent, while .net suffixes rose by 10.2 per cent.

Nora Nanaykkara, business development director for Sedo, told smeweb.com that domain name sales are "consistently on the upswing" as business interest grows.

"While domain names like sex.com, which sold for a whopping $13 million last quarter, are highly prized for their branding and marketing potential, in reality many domain names are much more affordable," he told the news provider.

Earlier this week, Ian Shapira of the Washington Post said that businesses will be moving towards "potentially lucrative territories" when new domain name suffixes are released later this year.

                                  source from the Managed Hosting News