Before signing a multi-year office lease, tenants run through a list of questions to ensure the space is “future ready,” meaning it works for their team today, and will still work tomorrow. Will our team fit here in three years? Do we have room to grow? Will our next wave of employees want to work in this part of town? Can they get here easily?
Now, there’s a new question to add: Will it be fast enough?
According to a new research report from Cisco, Internet traffic will increase nearly three-fold within the next five years due to more users and devices, faster Internet speeds, and an increase of video viewing.
Companies of all shapes and sizes, from startups to Fortune 500s, will be part of this Internet evolution. The best companies will be the ones that plan for the future. The report predicts that annual Internet traffic for the year 2018 alone will be greater than all traffic that has been generated globally from 1984 to 2013 combined.
The report also says that by 2018 global broadband speeds will reach 42 Mbps, up from 16 Mbps by the end of 2013; more advanced regions may have average speeds approaching 100 Mbps by 2018. In addition to the increased speed, another major driver of the traffic will be the use of video, particularly high-definition. The report suggests that by 2018, nearly 80 percent of all traffic will be video, with a majority for HD video.
It’s not enough for tenants to see if their team will fit in five years, now they need to determine if their space will meet their increased need for speed too.