NEW YORK (TheStreet) -- For two decades, Mary Meeker's words on the state of the Internet have been held as nearly Gospel by industry executives, analysts and investors.
So it should come as no surprise that Meeker's Internet Trends presentation on Wednesday at the Code Conference in Palos Verdes, Calif., would garner a great deal of attention across the online business sector. Meeker, a partner with the Silicon Valley venture capital firm Kleiner Perkins Caulfield & Byers, brought 197 slides to boost her presentation, which included a detailed look at the rise of Internet and smartphone usage in China.
Among the data points raised by Meeker was the phenomenal growth of Internet users in China compared with 20 years ago. Meeker, who initially made her name as the star Internet analyst at Morgan Stanley (MS) in the 1990s, said that in 2014, China accounted for 23% of the worlds' 2.8 billion Internet users. The U.S. was the second-largest individual country with 10% of the Internet users worldwide.
Those numbers can be contrasted with the concentration of the world's Internet 35 million users in 1995, when U.S. users made up 61% and Chinese users scarcely figured into the picture.
Meeker said overall Internet user growth remains strong around the world but is showing signs of slowing down. The number of Internet users grew 8% in 2014, but not as much as the 10% increase in 2013 and 11% rise in 2012. Meeker said the number of new Internet users in China increased 7% last year, compared with a 2% rise in the U.S. and 33% spike in India.