This is not the first prediction in this line. Earlier Brett Swanson of the Discovery Institute, a think tank had warned in 2007 of a coming surge of data that 'today's networks are not remotely prepared to handle'.
Its a reality that with the introduction of Web 2.0, Internet usage had shifted to bandwidth-heavy applications like YouTube and Skype. In 2006 the amount of traffic generated by YouTube was much more than that of the entire Internet traffic in 2000.
Several experts but think in a positive way and believes that global Internet traffic is and will remain manageable with modest capacity updates. It has coped with massive growth over the past 15 years so it can withstand.
However engineers are preparing for the worst by working to replace the Internet with a superfast 'grid'. So, even if capacity updates fail to keep pace with demand, an alternative will be in place.