The newGTLDs process is underway, 144 applications have been received, a lot more will be before the window closes. 300-500 new applications will be processed by ICANN during the first phase, you can expect another round within a year per the information out there.
While most people believe that the new gTLDs won’t affect .com prices, as do I, a lot of them miss the most obvious advantage ccTLDs have over newgTLDs – the fact that newgTLDs have to be 3 letters or more, whereas all second level ccTLDs have two letters. You might not consider this a major advantage, but in a world where increasingly shorter brands are making an impact, shorter extensions do matter as well.
.insurance might be a hot ticket to huge revenues, if it is allowed, considering .in / .int / .info all exist and ‘similar’ newgTLDs might get rejected, the inherent advantage this offers .IN is pretty huge, aside from the obvious typo traffic. People might actually prefer a shorter acronym for branding.
Another advantage is local significance of the ccTLDs which allows SMEs to acquire and target local audiences without paying a huge bundle for the .com like .co.uk for UK, .de for Germany, .US USA , .IN for India, etc. This is a major advantage over newgTLDs which are more likely to be industry vertical specific for the most part, geo newgTLDs are also being applied for, but most of them address one city, not really a broad base.
Rebranded ccTLDs also will stand to gain, .TV is already doing well for video / television based usage, as are .ME and .CO as brandable alternatives to existing gTLDs and a lot of startups are using non-mainstream ccTLDS like .ly / .io as well, which all increases the user awareness and usage of these extensions.