One of the year’s most anticipated presentations – at least, in Silicon Valley – is now available. In the 2016 edition of her Internet Trends report, Mary Meeker from venture capital firm Kleiner Perkins provides a sobering look at the technology industry.

While far too much data to unpack in a single post here, the 213-page presentation pulls no punches. Meeker highlights global Internet growth that’s essentially flat, waning demand for smartphones fueled by a combination of saturation, a lack of innovation and the end of carrier subsidies and even slowing economic growth.

It’s not all doom and gloom, however, as the report sheds some light on areas in technology that are ripe for explosive growth.

One such area is voice and speech recognition. Although still in its early days, Meeker showcased multiple slides that put a spotlight on the rapid rise of voice search. In fact, by 2020, it’s estimated that at least 50 percent of all searches are going to be either through images or speech.

Another sector that’s on the cusp of intense growth is the automotive industry, both in terms of being more connected and automated. Meeker highlighted data from Google and Tesla as it relates to miles driven while using automated features, praising the US as an innovation leader.

The report will no doubt be examined in great detail by analysts and journalists over the coming days and weeks. We’ve also embedded Meeker’s presentation at this year’s Code Conference for those that would rather watch the key talking points from the report.