Today at the D10 Conference, star analyst Mary Meeker gave her latest presentation of Internet Trends. You can download the presentation here (PDF), or view it at the bottom of this post. It’s well worth spending time perusing the whole presentation, but here are the main takeaways. Get ready for lots of re-imagining and proof of rapid growth!

Meeker has been obsessed with mobile growth in recent presentations – and that trend continues. The executive summary of her latest report is that mobile technology is being rapidly adopted, but it’s “still in [the] early stages.” Meanwhile, Internet growth in general is described as “robust.”

Mobile devices are, unsurprisingly, the biggest growth area. The standout statistic was this: 29% of USA adults now own a tablet or eReader, up from 2% less than three years ago. That’s been fueled by the rapid growth of devices like the iPad and Kindle.

Mobile adoption is having a big impact on overall Web traffic. Global mobile traffic is “growing rapidly” and is now 10% of Internet Traffic.

The following is a very sobering stat for Facebook. It’s as good an explanation as any for why Facebook spent $1 billion on Instagram. In India, the world’s second largest Internet market behind China, mobile Internet traffic has now surpassed desktop Internet traffic!

Back to the US, the combined growth of mobile devices and mobile traffic has resulted in a big jump in mobile revenue. However, most of it (71%) is revenue from apps. 29% is from mobile advertising.

Overall, Meeker is bullish on mobile monetization. The desktop Internet proved that advertising dollars follow eyeballs, Meeker said, so it’s just a matter of time before mobile attracts dollars. She points to the strong mobile app revenue figures, as well as “rapid growth” (that phrase again) of mobile commerce and associated payment systems´┐╝.

“Re-Imagination” is a new catchphrase that Meeker introduced in this presentation. ´┐╝The first generation of Re-Imagination was the desktop Internet usurping old business models. For example the newspaper industry, where print ad revenue was surpassed by Internet revenue in 2010.

She then presented a slew of examples of how (mostly mobile) technology is “re-imagining nearly everything.” Here are just a few of them:

Lots to digest in this excellent presentation by Mary Meeker, who has more than proven herself to be the standout analyst of this Internet era.