Canadians are expected to show a staggering growth of data consumption, internet access, esports, and over-the-top (OTT) services such as Netflix in the next five years, according to a recent report from consulting firm PricewaterhouseCoopers.
The report showed that data consumption will have the highest growth, stating that Canadians will double their data consumption in the next five years. This will translate to a 19.4 percent compound annual growth rate increase (CAGR).
Additionally, Canada’s OTT video revenue will increase by 10.7 percent CAGR. This growth will place Canada’s market ahead of the U.K. in fifth place. Unsurprisingly, Netflix currently holds a market share of over 70 percent, according to the report.
The study also stated that the introduction of a 5G spectrum will change how people consume data, and will allow for more high-quality streaming and better use of artificial intelligence.
“It will make it easier, more convenient and cheaper for Canadians to access more media on phones and other mobile devices,” said John Simcoe, the media and telecom leader at PwC, in an emailed press release.
Canada’s video game and esports revenue are also expected to continue to grow strongly with a 5.5 percent CAGR increase.
