How valuable would it be to have an accurate forecast of where the digital video marketing business is headed in 2020? Well, among other things, an accurate forecast would help you:
Develop a business case for allocating more budget to video marketing.
Create a successful video marketing strategy.
Improve by experimenting with new initiatives.
So, where can you find the equivalent of Grays Sports Almanac for our industry and era? Well, the Cisco Visual Networking Index (VNI) Complete Forecast for 2015 to 2020 is a good place to start. Among other things, it predicts more than one billion new Internet users will join the global Internet community, growing from three billion in 2015 to an estimated 4.1 billion by 2020.
The Cisco VNI forecast also predicts that internet video will account for 79% of global Internet traffic by 2020 – up from 63% in 2015. It estimates the world will reach three trillion Internet video minutes per month by 2020, which is five million years of video per month, or about one million video minutes every second. And it estimates that HD and Ultra HD Internet video will make up 82% of Internet video traffic by 2020 – up from 53% in 2015.
The Cisco VNI forecast Internet also forecasts video will increase four-fold between 2015 and 2020. It predicts that video traffic will be 82% of consumer Internet traffic by 2020 – up from 68% in 2015. It forecasts business Internet video traffic will be 66% of business Internet traffic by 2020 – up from 44% in 2015. And it notes that virtual reality traffic quadrupled in the past year and estimates it will increase 61-fold by 2020.
This report represents the culmination of months of data gathering, analysis, due diligence, and crosschecking with syndicated and direct data sources. But, I can hear some of you saying, “Okay, so now what do we do?” Well, as I indicated at the beginning of this column, having an accurate forecast of where the digital video marketing business is headed in 2020 can help you accomplish at least three things.
I’ll explore the first one this week – and the next two in the coming weeks. Hopefully, this will provide you with a roadmap for getting from here to 2020 successfully.
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