Online video is growing faster than any other type of consumer service offering, and by 2017 will be more popular than Facebook, Twitter and Co, according to Cisco’s new Visual Networking Index forecast and this Gigaom article. The forecast is based primarily on data use. “Bandwidth points to social networking as the world’s most popular type of consumer service,” according to the report.
Here are some tidbits:
- Online video services had just around 1 billion users worldwide in 2012, according to Cisco. The company estimates that this number will almost double by 2017, reaching close to 2 billion users worldwide.
- Online video will account for 69 percent of consumer internet traffic by 2017 (up from 57 percent in 2012).
- Mobile video will grow 16-fold from 2012 to 2017, and account for 66 percent of all mobile data traffic during that year.
Much of the data I’ve read also suggests online-video advertising will continue to outpace many mediums, although mobile advertising may surpass it.