Generation Z in Tech, Media, and Telecom - Thematic Intelligence
Summary
It has been called the most disruptive generation ever by Bank of America, and its influence is on the rise at a time of great uncertainty. Today's world faces simultaneous and severe geopolitical, economic, social, environmental, and demographic stresses and strains, and Gen Z will shape and disrupt every sector in this changing global economy.
Major global industries-such as consumer electronics, retail, social media, entertainment, personal healthcare, travel, finance, and advertising-have already been radically disrupted and reshaped by Gen Z.
Key Highlights
Asia has the largest Gen Z population at 1.2 billion, followed by the Middle East and Africa with 470 million. However, the Middle East and Africa region has the highest share of Gen-Zers out of its total population at 34%. According to the World Economic Forum (WEF), Generation Z will account for over 27% of the global workforce by 2025.
At the same time, the cohort is gaining financial power. History’s biggest-ever transfer of wealth and power is underway as so-called boomers retire and die and younger generations take over. GlobalData predicts that up to $8.6 trillion in assets will be transferred to younger generations within the next 10 years.
Like previous generations, the emerging Gen Z cohort has unique habits, economic activities, and social behaviors. Gen-Zers emphasize a work-life balance, diversity, inclusion, and personal growth. They both inform online trends and are greatly influenced by them.
Scope
- The report looks at the impact of Generation Z on the tech, media, and telecom sector.
- It includes a demongraphic briefing, which identifies the key characteristics of the different cohorts alive today and analyzes the influence of Gen Z in China, the US, and India.
- It identifies the key trends relating to Generation Z, including environmental, social, and governance (ESG) factors, social media and influencer culture, social activism, and generative AI.
- The report looks at Gen Z's impact on the TMT sector in three specific areas: workplace technology, home technology, and entertainment technology.
- Gen Z is increasingly important in many nations as its numbers and influence grow. A key factor in the importance of Gen Z is its growing financial power. History’s biggest-ever transfer of wealth and power is underway as the so-called ‘boomers’ retire and die, and the younger cohorts take over with very different experiences, assumptions, habits, and values. GlobalData predicts that up to $8.6 trillion in assets will be transferred to younger generations within the next 10 years. This report looks in detail at the key attributes of Gen Z and how it impacts businesses—both employees and consumers—in the tech, media, and telecom (TMT) sector.
- Executive Summary
- Players
- Demographic Briefing
- Generational profiles – what is Gen Z?
- The current state of the world’s population
- The current state of Gen Z
- The great wealth transfer is underway
- Gen Z’s uneven distribution by nation
- China: social revolution is brewing amid a Gen Z jobs crisis
- The US: inter-generational conflict ahead
- India: the Gen Z superpower liable to social unrest
- Trends
- Business Impact
- Generation Z’s impact on the TMT sector
- Hardware
- Software and services
- Internet and media
- Telecoms
- Generation Z and workplace technology
- Gen Z demands workplace flexibility
- Gen Z favors gamified collaboration tools
- Diversity and inclusion is a priority for Gen Z
- Generation Z and home technology
- Gen Z is slowly moving toward automated home technology
- Energy efficiency is attracting Gen Z to automated home technology
- Gen Z’s preference for at-home fitness technology
- Gen Z is adapting its living spaces to work from home
- Generation Z and entertainment technology
- Gen Z’s virtual escape via gaming, esports, and the metaverse
- Gen Z’s contributions to streaming services churn
- Gen Z: the TikTok generation
- Glossary
- Further Reading
- GlobalData reports
- Our Thematic Research Methodology
- About GlobalData
- Contact Us
- List of Tables
- Table 1: Trends
- Table 2: Glossary
- Table 3: GlobalData reports
- List of Figures
- Figure 1: Gen Z’s habits and values will continue to have a major impact on the TMT sector
- Figure 2: What are the key characteristics of the different demographic cohorts alive today?
- Figure 3: The rate of population growth peaked in 1962 but has since halved
- Figure 4: Asia has the largest Gen Z population at 1.2 billion
- Figure 5: Intergenerational wealth transfer is expected to reach $8.6 trillion over the next 10 years
- Figure 6: India is the leading Gen Z country by population
- Figure 7: GlobalData’s breakdown of the technology, media, and telecoms sector
- Figure 8: LinkedIn reactions mimic other social media platforms
- Figure 9: Sapia.ai looks into the potential of AI hiring
- Figure 10: The global automated home market will generate $263.7 billion in revenue by 2023
- Figure 11: Google estimates that its Nest Learning Thermostat has saved 39 billion kWh of energy since its launch in 2011
- Figure 12: Mentions of #energyefficiency increased 136% between 2019 and 2022
- Figure 13: At-home fitness technology is becoming more accessible and interactive.
- Figure 14: 68% of Gen-Zers plan to start, continue, or increasingly undertake hybrid working
- Figure 15: Esports and the metaverse are gaining traction among Gen Z
- Figure 16: Our five-step approach for generating a sector scorecard
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