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- Opportunities for the technology market
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SPECIAL FOCUS – PAYMENT TECHNOLOGIES
- Half of people have made payments with devices recently
- Graph 1: devices used to make payments in the last three months, 2024
- Device payments have become the norm for younger consumers
- Smartphone payments have yet to cut through with older consumers
- Graph 2: use of smartphones and smartwatches to make payments in the last three months, by generation, 2024
- Samsung launches smart ring, but it will remain a niche payment option
- Consumers envisage a future of biometric payments
- Graph 3: payment technologies that consumers believe will become popular in the next five years, 2024
- Finger and palm print payments are likely to gain more traction than facial recognition
- Graph 4: biometric payments becoming popular in the next five years, by generation, 2024
- There is some belief in checkout-free stores but the technology has so far focused on London
- The ultimate always-on personalised payment method or a step too far?
- There is little short term belief in cryptocurrency as a viable payment method
- Graph 5: belief in cryptocurrency becoming a popular payment method in the next five years, by generation, 2024
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Purchasing Activity
- Despite universal ownership, smartphones continue to dominate sales with the focus on the replacements and upgrades
- Graph 6: technology products bought in the last three months, 2024
- Graph 7: plans to buy technology products in the next three months, 2024
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Smartphones
- Smartphones are nearly ubiquitous
- Graph 8: smartphone ownership, by age, 2024
- Uptake of 5G contracts continues to creep up
- Graph 9: 5G smartphone connectivity, 2021-24
- Android smartphones lead the way amongst all generations except Gen Z
- Graph 10: smartphone operating system, by generation, 2024
- Shopping and streaming lead the way in smartphone activities
- Graph 11: mobile apps used in the last three months, 2024
- The vast majority of Gen Z are using video calls
- Graph 12: smartphone activities in the last three months, 2024
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Wearables
- Wireless headphones have become a near essential technology for young consumers
- Graph 13: wearables ownership, 2024
- Smartwatch owners are prioritising health and wellbeing features
- Smartwatch owners are embracing innovation
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Computers
- Laptops are the second-most owned device after smartphones
- Laptops are a near-essential device for younger consumers
- Graph 14: desktop computer in the household, by generation, 2024
- Graph 15: personal laptop ownership, by generation, 2024
- The majority of those with desktops in the home own also other computing devices
- Graph 16: computing ownership, NET, 2024
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TV and Media Devices
- Over half of households with televisions now have at least 4K resolution
- Despite high ownership of modern, high resolution TVs, many younger people are adding streaming devices
- Graph 17: media devices in the household, 2024
- Gen Z and Millennials are upgrading broadband to support continued technological innovations
- Graph 18: upgraded broadband service in the last three months, by generation, 2024
- Younger consumers leading the smart home evolution, with half with having smart speakers
- Graph 19: household ownership of voice-controlled smart speakers, by generation, 2024
- Graph 20: use of smart home devices in the last three months, by generation, 2024
- Amazon Alexa’s lead highlights the popularity of voice-controlled smart speakers
- Nine in 10 of Gen Z are using voice assistants
- Graph 21: use of voice assistants in the last three months, by generation, 2024
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Gaming
- Ownership of games consoles remains high but is coming under pressure from mobile gaming
- The accessibility of mobile gaming has driven the market well beyond traditional gamers
- Graph 22: played games on a smartphone in the last three months, by generation, 2024
- VR headsets struggle for sales growth but the technology is increasingly available in out-of-home experiences
- Graph 23: use of VR headset in the last three months, by generation, 2024
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Appendix
- Abbreviations and terms
- Consumer research methodology
This report looks at the following areas:
- Consumers’ device payment habits and views on future payment technologies
- Smartphone ownership, operating system, app usage and 5G connectivity
- Smartphone and other recent digital activities
- Ownership of devices across computing, gaming, TV and media
- Recent and planned purchases of technology devices
Half of people are now using device payments and smartphone payments are now the norm for most younger consumers.
Adrian Reynolds, Associate Director
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