Elements Gen Z account for when buying tech products worldwide 2024

According to a global survey conducted in the second quarter of 2024, the quality and price of an electronic device were the main factors Gen Z respondents accounted for when purchasing such devices. On the contrary, free delivery was the smallest concern for Gen Z interviewees. 

Gen Z and consumer tech 

Gen Z is the generation of smartphones always at hand, ready to capture the best moments to post on social media. Smartphones are only the center of a more complex ecosystem of tech products Gen Z owns, which includes everything from tablets to PCs, from cameras to headphones – all devices used to perform a wide variety of actions, whether it is for work or study purposes or just for leisure. As a consequence, the penetration of such devices among Gen Z is high in many countries around the world, such as the United States, as well as European countries like the United Kingdom and Germany.  

The competitive CE market 

Gen Z represents a major share of tech users, contributing to the growth of the flourishing consumer electronics market. In 2024, this industry was forecast to generate revenues of over 980 billion U.S. dollars, with this value expected to increase further in the coming years. Due to its diverse segments, which range from smartphones and PCs to wearables and hearables, the industry is highly competitive, with numerous market players vying for leadership positions. Due to its diverse segments, which range from smartphones and PCs to wearables and hearables, the industry is highly competitive, with numerous market players vying for leadership positions. Apple and Samsung are the leaders, but other companies like Google and Xiaomi are progressively gaining larger shares of the market.