SOURCE: Parks Associates

Parks Associates

August 18, 2016 09:00 ET

Parks Associates: 24% of Millennials Use Mobile Apps for Services Such as Uber and Lyft

Research Firm Releases New Data Showing App Usage and Connected CE and Service Trends for Millennials

DALLAS, TX--(Marketwired - Aug 18, 2016) -  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 sales@parksassociates.com. 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 hsprague@gmail.com.

About Parks Associates

Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.

The company's expertise includes the Internet of Things (IoT), digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Smart Energy Summit: Engaging the Consumer, and Connected Health Summit: Engaging Consumers.
 http://www.parksassociates.com

Contact Information