Earlier this year, Cisco released their Global Mobile Data Traffic Forecast Update – 2014-2019.
This detailed white paper is an excellent source of information for real estate professionals that are looking to understand why real estate and other global networks are quickly shifting to a mobile dependency.
WATCHING MOBILE GROWTH
To get a feel for the unreal growth of mobile-connected devices, let’s take a look back to 2014.
In 2014 alone, 497 million mobile devices and connections were added to the global network – 88% of them being smartphones.
It is currently projected that by 2019 there will be 11.5 billion connected devices — this far out-numbers the expected population size of 7.6 billion!
Remarkably, Figure 13 from Cisco’s report shows that mobile video will grow at a Compound Annual Growth Rate (CAGR) of 66 percent between 2014 and 2019. Of the 24.3 exabytes per month crossing the mobile network by 2019, 17.4 exabytes will be due to video or roughly 70%.
That is a lot of data, all of it video, all of it mobile.
All of this comes as no surprise. The numbers are reflective of the very obvious fact that we are all social beings.
And as social beings, we are visually stimulated very easily.
(We dare you not to click)
We love video content. The power of using video through a mobile device to reach a target audience is undeniable.
- YouTube clips of puppies smiling are heart-wrenching.
- FaceTime with family is comforting.
- And celebrity broadcasts through Periscope are…well…interesting.
The common denominator that can be pulled from all of these mediums of staying connected though is video.
And in the adapting real estate industry, video is NOW making a bold entrance.
MOBILE VIDEO IN REAL ESTATE
When Facebook comes before breakfast and emails are checked between bites, it makes you question why busy buyers and renters are still left having to physically tour properties in 2015.
In this market, buyers and consumers first enter the property/rental hunt digitally. With minimal time on hand, they hit the web in hopes of narrowing in on good matches. It’s why the top places where REALTORS place their listings are Realtor.com, Zillow, and Trulia.
But the problem with listings on those platforms is that they still lack transparency and the ability for each individual to see exactly what they want to see in a property.
- Pictures don’t do justice.
- Viewing angles can be misleading.
- No agents are present for questions.
- Prerecorded videos never tell the full story.
- Buyers are left having to physically tour these spaces.
REAL TIME TOURING
We recognize the accelerating growth of smart mobile devices and all of the connections they represent. Figures 5 and 6 pulled from the Cisco report highlight just that. The percent of smart devices and connections will finally take majority in 2018 (Figure 5) and by 2019 that segment will hold 97% of all global traffic (Figure 6).
With furiously fast mobile progress, the power of mobile video will continue to break down the agent-buyer wall. As buyers now go through the touring process, agents have the ability to help buyers toss a majority of housing options before the buyer even reaches the property’s doorsteps. This ability to connect via live video continues to push boundaries and enhance how agents engage with their clients and how consumers experience properties.
In case you forgot to do so at the top, you can download the full Global Mobile Data Cisco Report here.
Until next time…Keep It Real!