Mary Meeker's 2014 update of Internet Trends

Leading tech analyst, Mary Meeker of Kleiner Perkins releases an annual review of Internet Trends, which is a must-read for anyone even remotely interested in the goings on in web.

While her full deck is below, I agree with SMH that the key observations she makes in 2014 are as follows:

• Data mining: We're only meaningfully analysing a tiny fraction (1 per cent) of available data. Tech start-ups are leading the way in both expanding and understanding data.

• Single-purpose apps: Applications are moving away from being catch-all toward stand-alone, such as Facebook's Messenger and Twitter's Vine.

• Selectivity: We are sharing more content with a narrower group of people, rather than broadcasting a little bit of information to all. Think Snapchat, which now accounts for 700 million daily photo shares.

• China: Ms Meeker lauds China as a leader in mobile commerce development. Through its messenger application WeChat, which has 400 million active mobile users, you can bank and invest, book restaurants and buy groceries. Didi Taxis generates 5 million daily rides by integration with WeChat.

• Cryptocurrencies: Ms Seeker keeps faith in Bitcoin despite its crash in value, arguing the 5 million Bitcoin wallets worldwide (an eight-fold increase year-on-year) shows "extraordinary interest".

• Declining costs: Computing, storage, bandwidth and handsets are all decreasing, though data costs can remain high. The average global smartphone price is now $US335 ($363), though we typically pay more in Australia.

• Mobile growth: Mobile usage now accounts for 25 per cent of all web traffic in 2014, up from 14 per cent a year ago. Asia and Africa represent a significant portion of that – developing nations "leap-frogged" the PC and laptop era, moving straight to smartphones.

• Videos: Mobile's share of online video plays is rising, and now accounts for 22 per cent. Consumers expect to watch TV on demand and on their own terms.

• Tablets: Unit shipments are growing faster than desktops or laptops ever did, but still have more room to grow at 6 per cent market penetration.

• Dual-screening: 84 per cent of American mobile users use their device while watching TV. We are seeing more content than ever, but it allows us to avoid commercials.

• Advertising: Global internet advertising grew 16 per cent this year, and mobile advertising grew by 47 per cent. The average revenue per user for Google, Facebook and Twitterremained stable.