Generation Z in Tech, Media, and Telecom - Thematic Intelligence

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.

ScopeThe 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.Reasons to BuyGen 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.