The Internet is gradually shedding its traditionally US-dominated profile as it becomes increasingly global, according to a new report published today.

The US currently accounts for 72 per cent of the world's Internet users, but by 2000, the Price Waterhouse 1998 Technology Forecast predicts it will make up just 50 per cent.

The report predicts growth to be fastest in countries with higher gross domestic products per person, including Finland, Germany, Scandinavia and Britain.

The revenue potential of online commerce is spurring this growth, with Internet service earnings predicted to grow to $30 billion (£21 billion) by 2000.

Due to the low cost of entry and the ease of application development new products and services are cropping up daily, with businesses already using the World Wide Web for online transactions despite delays over establishing a universal standard.

Its usefulness in the provision of products and services, advertising, customer support and market research functions has also been identified, and is now being maximised upon. The report warns, however, that inconsistencies and delays in developing applications standards will impede progress.

In particular the use of the Internet to carry real-time data, including voice and video is becoming a priority. According to the report this is likely to continue to improve as long as streaming audio and video can be used to deliver market-sensitive news and live status reports to stock traders, new product information and corporate news to sales people and staff, and to view TV advertising.

The adoption of the Internet for long-distance telephony and the transmission of faxes have also been highlighted as major cost-saving areas for business users. All of these factors will contribute to the Internet's increased value as a medium for entertainment, commerce and communications.

With less than 2 per cent of the world's adults accessing the Internet, it is still a long way from saturation point, and the evidence is there that it will continue to flourish. In January 1997, the number of Internet hosts was 16.1 million representing a 25 per cent growth in just six months, and the number of Web pages had tripled to 80 million over the same period.

Now Price Waterhouse predicts Web commerce will reach the majority of "high income, technically savvy" users in the US by 2000.