The 2015 World Cup will be jointly hosted by Australia and New Zealand, the first time cricket's showpiece event will be played in the Antipodes since 1992.
"There is clearly an appetite from all quarters to examine the make-up of the ICC Cricket World Cup and the ICC World Twenty20 and seek the best balance between excellence and development," said ICC chief executive Haroon Lorgat. "In terms of the number of participating teams, it is possible that the World Cup could be reduced and the World Twenty20 expanded.
"Although we have made good progress, this exercise requires more work. We know there are exciting opportunities to protect and promote all three formats but we must exercise patience as we consider all aspects in introducing context and content in international cricket."
The decisions – including the 2013 Women's World Cup to be played in India - were announced after a meeting of the ICC board in Singapore.
