China is by far the largest internet market in the world with 721m users, but India has now overtaken the US to become the world's second largest market with 333m, according to a new report from the United Nations.

India also recently overtook the US to become the second-largest smartphone market in the world, with an estimated 260m mobile broadband subscription, said the UN Broadband Commission for Sustainable Development.

The UN report, entitled “The State Of Broadband 2016”, also confirmed that the top ten countries for household internet penetration are all located in Asia or the Middle East.

South Korea continues to have the world's highest household internet penetration, at 98.8%, followed by Qatar (96%) and the United Arab Emirates (95%).

Meanwhile, the Asia-Pacific region accounts for nearly half (48%) of all active mobile broadband subscriptions with Singapore (142 subscriptions per 100 people) second only to Finland (144) in the world.