Will Crowdfunding Become A Viable Source of Funding For Small and Medium Businesses?

Saw the statistic below in an article on how the recent SEC ruling could effect financing for small and medium businesses...

Last year it (crowdfunding) was viable enough to generate $16 billion to small businesses. When you consider all venture capital funding in the U.S. last year was about $45 billion, according to some estimates, $16 billion is a huge piece.

If the statistic is correct and crowdfunding accounted for a third of financing, it looks like it will only grow in 2016. Will we see more businesses look to crowdfunding as a way of raising revenue in the coming year?