This Baby Boomers and Technology market report provides comprehensive and current information and analysis of the Baby Boomers and Technology market including Baby Boomers and Technology market size, anticipated market forecast, relevant market segmentation, and industry trends for the Baby Boomers and Technology market in the US.
At about 70 million, Baby Boomers are now the second largest generation in the US, having been surpassed by the 76 million strong Millennial generation. While Baby Boomers as a share of the population are shrinking, they hold considerable wealth and command significant spending power.
Baby Boomers represent an opportunity for tech brands. Members of this age group, which have been later to adopt newer technologies and digital services, are increasing their use of tech. Baby Boomers currently own smartphones at a similar rate as the general population, and nearly four out of 10 say they play video games on mobile devices. Advancing tech ownership and driving digital activity among Baby Boomers could result in lucrative gains if brands can make a compelling use case for adoption.
Currently, the biggest obstacle for tech brands appealing to Baby Boomers is the economy – not just rising inflation but severe losses in stock market investments, which will certainly impact Baby Boomers’ confidence. As most of this segment is either retired or nearing retirement, disruptions to their financial situation could severely limit spending on household tech, personal tech, and digital entertainment.
Read on to discover more about the Baby Boomers and Technology consumer market, read our US Older Generations: Online Shopping Behaviors Market Report 2021, or take a look at our other Third Age research reports.
This report, written by Fiona O’Donnell, a leading analyst in the Multicultural, Lifestyles, Travel and Leisure sector, delivers in-depth commentary and analysis to highlight current trends in Baby Boomers and digital technology, and add expert context to the numbers.
Baby Boomers account for one in five Americans and more than half the country’s wealth. While they have trailed younger generations in adopting new technology and digital services, the pandemic served as a catalyst for many tech holdouts and they are quickly expanding their digital behaviors. Their size, wealth and relatively new interest makes Baby Boomers an opportunity for tech brands.
Fiona O’Donnell
Senior Director, US Reports
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