Photo courtesy of zeta.net

photo courtesy of zeta.net

Currently, social networking represents the world’s most popular type of consumer service, with 1.2 billion users (or 66 percent of the active Internet community) Tweeting, Facebooking, Tumbling, and more around the world. But Cisco’s new Visual Networking Index forecast indicates it won’t always remain this way. By 2017, online video, which is now the fastest growing type of consumer service offering, will pass by these social networking behemoths to sit atop and rule the roost.

According to an article on GigaOm, “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. That means that in four years, 81 percent of the world’s internet users will also use online video services. In 2012, that number was still at around 58 percent.”

That same article provides more statistics, too, pulled from Cisco’s report:

  • 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.
  • Internet-to-TV streaming will grow from 1.3 exabytes per month in 2012 to 6.5 exabytes per month in 2017.
  • The number of web-enabled TVs in consumer’s homes will grow from close to 180 million in 2012 to 827 million in 2017.
  • Game consoles will become slightly less important as a way to bring internet video to the TV screen, while dedicated streaming boxes will see the biggest growth.

It’s an exciting time to be in the online video industry, and it’s only getting more exciting by the day.

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EmilyEmily Wilson is a writer, editor, and photographer from Long Beach, California. She earned a B.A. in English at Chapman University, afterwards working for The Port of Long Beach as a Communications Specialist before taking time off to travel South America. Then it was back to school for an M.A. in online journalism from the University of Southern California, where she also worked as a technology writer for the Entertainment Technology Center at USC. She has since packed up her car, moved to Brooklyn, and now works as Managing Editor at Magnet Media. She’s enjoying NYC pizza a little too much.