The Signal: It’s estimated that 22% of the total US population will be over the age of 65 in 2050, compared to 16% in 2019, driven by longer life expectancies and slowing birth rates. This is not surprising given that 10k baby boomers will turn 65 every day for the next 19 years. Baby boomers, currently between 56 and 76 years old, are the second-largest age group in the US after millennials.

The longevity revolution is a global phenomenon. Almost every country in the world is experiencing growth in the size and proportion of people over the age of 65. The number of people over age 65 globally is expected to increase by 120% over the next 30 years, from 703m in 2019 to 1.5B in 2050, according to research conducted by the UN.

Tech literacy among this cohort is surprisingly high. In the US, the percentage of adults aged 50-64 and 65+ who use the internet is 88% and 73%, respectively. On average, baby boomers spend 5 hours a day looking at their smartphones, almost the same time as millennials (5.7 hours).