Research firm releases new data showing app usage and connected CE and service trends for millennials

New research from Parks Associates shows 24% of millennials use mobile apps for calling a taxi or ride-sharing services such as Uber or Lyft, compared to 13% of Gen Xers and 7% of Baby Boomers. More than 60% of millennials use mobile apps for banking or money management, compared to less than 50% of Gen Xers and one-third of Baby Boomers.

“The most important demographic factor in terms of mobile app usage continues to be age,” said Harry Wang, Senior Director of Research, Parks Associates. “Millennials have higher usage rates for nearly every smartphone activity compared to Generation Xers and baby boomers, and their mobile app-first habits for completing day-to-day tasks are the catalysts for market innovations from Uber to Instacart to Venmo.”

Connected CE, Apps, and Content Services: Millennials, Gen Xers, and Baby Boomers notes that 95% of millennials are smartphone owners, compared to 89% of Generation Xers and 74% of baby boomers. Millennials also have higher usage rates for gaming consoles, streaming media players, robotic floor cleaners, drones, personal assistant devices, and virtual reality headsets.

“Millennials consistently adopt new technologies before their generational counterparts,” Wang said. “Currently, 41% of this group owns a streaming media player, compared to 39% of those in Generation X and only 26% of baby boomers. Further, 5% of millennials have purchased a virtual reality headset, while Generation Xers account for 2% of purchases and baby boomers account for only 1%.”

Thirty-five percent of millennials also use mobile apps to book flights, hotels, or rental cars, while 38% order food and grocery deliveries via mobile apps. Additional data from Connected CE, Apps, and Content Services: Millennials, Gen Xers, and Baby Boomers shows:

• 45% of millennials use voice recognition software
• 50% of millennials stream music from a phone to a speaker
• 93% of millennials are streaming movies or TV shows

For more information on Connected CE, Apps, and Content Services: Millennials, Gen Xers, and Baby Boomers, contact [email protected]. More information on other Parks Associates research is available at www.parksassociates.com. To schedule an interview with an analyst or to request specific research data, please contact Holly Sprague at [email protected].

About Parks Associates: Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.

The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.

Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. https://www.parksassociates.com
 

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