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Internet Boom Waning: Report

Global Internet and smartphone user growth are slowing dramatically. So says the Internet Trends report, an annual US tech industry event  from Mary Meeker, a partner at Kleiner Perkins Caufield & Byers.

Addressing the Recode technology conference in California, Meeker said the number of global Internet users is now around 3 billion – but new users are increasingly slow to come online.

She attributed the slowdown to stagnating gross domestic product. Global GDP growth in six of the last eight years was below the 20-year average.

North America, Europe, and Japan represented 63 percent of global GDP in 1985. But by 2015, their contribution dropped to 29 percent. China and emerging markets in Asia represented 63 percent of global GDP last year.

The Asia-Pacific region represented 52 percent of smartphone users globally. APac’s recent rapid growth has begun to slow, dropping from 35pc in 2014 to 23 pc in 2015.