Online Video Continues to Boom, No Signs of Slowing

The Cisco Visual Networking Forecast calculated estimations for the next 4 years determining new statistics predicting that half of our world’s population will be consistent Internet users by the year 2017.

Excluding mobile the prediction is that there will be close to 2 billion Internet video users, generating 3 trillion Internet videos per month. Networks delivering content such as live streaming, on-demand and social Web sites will carry over half of total Internet traffic by 2017.

Some say online video will be more popular than Facebook and Twitter. Although these social outlets are great ways to share and promote videos, I think what Gigaom is trying to say is that more consumers in general will be actively using online video sites as opposed to traditionally cruising on social networking for long periods of time.

With web-enabled televisions and portable devices dominating digital usage, mobile video is also said to increase drastically, accounting for 66% of all mobile data traffic by 2017 as well. It seems as though this consumer service is the fastest growing entity out there and it’s clear there’s much potential for money to be spent and made from online video in the foreseeable future.

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