The era of US dominance in women's football is over after the holders exited the World Cup in a dramatic penalty shoot-out against Sweden on Sunday, bringing an agonising end to the international career of Megan Rapinoe and raising questions about where the side goes now.

The United States had won the last two Women's World Cups and four of the eight editions held before this year. They had never gone out before the semi-final stage.

This time they have been sent packing in the last 16 having won just one game in Australia and New Zealand, that an unconvincing 3-0 defeat of Vietnam.

Vlatko Andonovski's side followed that by drawing 1-1 with the Netherlands, the same team the USA defeated in the 2019 final, and grimly holding on for a draw against Portugal to squeeze into the knockout phase.

It would be unfair to be too harsh on the USA given the way they played against Sweden, dominating and only failing to win in normal time because of some heroics by opposing goalkeeper Zecira Musovic.

"We put up a fight, a battle, and represented this country. We showed what we stand for and we did everything right," said a crestfallen Andonovski after the 5-4 shoot-out loss in Melbourne that followed a goalless 120 minutes.

But the reality is that this has been a deeply disappointing tournament for the planet's top-ranked side and one that has confirmed that the rest of the world has caught up.

The USA followed losing the 2011 final on penalties to Japan by romping to victory in 2015, beating the same opponents 5-2 in the final.

Four years ago they retained their crown in France, but the signs of things to come were there as they fended off a rising European tide.

They were the only non-European team to reach the quarter-finals in 2019, and in the intervening period the standard of women's football in Europe has kept on growing to the point the USA are no longer streets ahead.

"We said before the tournament that this would be the most competitive World Cup," said US skipper Lindsey Horan.

Rapinoe's final act

Rapinoe was a key cog in the team that won the last two World Cups. An icon who transcends the sport, she had been desperate to go out on a high at the age of 38 before retiring after this season.

Brought off the bench against Sweden, her final act for her country was to put her penalty over the bar.

At 34, fellow superstar Alex Morgan may have played her last World Cup match, while 35-year-old Kelley O'Hara -- who hit the post in the shoot-out –- is another on the way out.

But this always risked being a tournament too soon for a team in transition.

Fourteen members of Andonovski's squad of 23 were appearing at their first World Cup, and only four starters against Sweden were also in the line-up in the 2019 final.

The hope is that the likes of Trinity Rodman and Sophia Smith will learn from this bitter experience and come back stronger.

Coach on the way out?

"For this team the future is bright," insisted Andonovski, who also highlighted the importance of being without injured stars Mallory Swanson and Catarina Macario.

"Even if it didn't end the way we wanted, this is a huge experience for some of these young players.

"There is a group of players here that will make a mark in the future."

The next World Cup is in 2027 and it could be on home soil, with the United States bidding to co-host the tournament with Mexico.

Before that there are the Olympics in Paris next year, where the US will be seeking to win gold for the fifth time.

They had to settle for bronze in Tokyo two years ago after losing to Canada in the semi-finals of Andonovski's first major tournament in charge.

The future of the coach is far from certain.

Appointed four years ago to succeed Jill Ellis, his contract reportedly expires at the end of this year.

"I never came into this job with the mindset of saving my job," Andonovski said on Sunday.

"It is a very tough moment. We did not expect to go out the way we did. It is emotional, it is hard. I have not really had a chance to think about me."