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The Retail Sector's Influence On Retail Digital Transformation Driver: Leading Transformation in the Retail Digital Transformation Market in 2025
Retail Digital Transformation Market
The size of the retail digital transformation market has seen an exponential expansion over the past few years. There has been an escalation from $285.1 billion in 2024 to an anticipated $345.36 billion in 2025, presenting a compound annual growth rate (CAGR) of 21.1%. Factors such as the development of e-commerce, advances in mobile technology, the use of big data analytics, the integration of omnichannel, and the rise of AI and machine learning can be credited for boosting growth during the historical period.
The size of the retail digital transformation market is set to experience considerable expansion over the coming years, reaching $739.23 billion by 2029 with a compound annual growth rate (CAGR) of 21.0%. This growth during the predicted period is linked to the rise of augmented reality (AR) and virtual reality (VR), the Internet of Things (IoT), voice commerce, blockchain technology, and hyper-personalization. Upcoming trends within this time frame include the growth of contactless shopping, the adoption of sustainable practices, the burgeoning of subscription services, hyper-localization, and the emergence of direct-to-consumer (DTC) brands.
What Factors Are Fueling Growth in the Retail Digital Transformation Market?
The uptick in retail sector enlargement is predicted to fuel the advancement of the retail digital transformation market. The retail sector comprises companies engaged in vending goods or services directly to customers for individual usage or ingestion. The enlargement of the retail sector is propelled by elements such as boosted consumer demand, globalization, and emerging market norms. Retail digital transformation boosts customer experiences, makes operations more efficient, and fosters data-led decision-making in the retail sector. For example, in April 2024, UK's House of Commons Library, a research and information service donor for the UK parliament, noted that the economic output of the retail sector in 2023 was $141.56 billion (£112.9 billion), making up 4.9% of the UK's overall economic output and showing a 2.5% escalation compared to 2021. As of January 2023, 315,000 retail businesses were in existence. Retail sales in Great Britain for 2023 hit $639.48 billion (£510 billion), indicating a 3% rise from the preceding year. Hence, the enlargement of the retail sector is predicted to fuel the advancement of the retail digital transformation market.
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Which Leading Companies Are Shaping the Growth of the Retail Digital Transformation Market?
Major companies operating in the retail digital transformation market are Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Infosys Limited, Wipro Limited, Lawson Software Inc., Dassault Systèmes SE, Shopify Inc., The Sage Group plc, Zoho Corporation Pvt. Ltd., Epicor Software Corporation, Manhattan Associates Inc., Lightspeed POS Inc., Kinaxis Inc., Retalix Ltd., Nayax, BluJay Solutions LLC, Logility Inc., HighJump Software Inc., Brightpearl Limited, Wasp Barcode Technologies LLC, Aldata Solutions, Ordoro Inc.
What Are the Major Trends Shaping the Retail Digital Transformation Market?
Leading corporations in the retail digital transformation marketplace are introducing advanced solutions like cloud-neutral data management systems to offer flexible and scalable options for managing retail-related data throughout different cloud settings. This cloud-neutral data management platform is designed to operate without complications in diverse cloud environments, offering adaptability and compatibility for data processing and storage. As an example, Informatica, an American enterprise cloud data management services provider, launched the Intelligent Data Management Cloud (IDMC) catered to retail businesses' needs in March 2022. This cloud platform tackles frequent obstacles such as data fragmentation and dysfunctional experiences in multi-cloud and hybrid arrangements. The IDMC for Retail aims to enhance customer profiles, broaden self-service capabilities, and streamline product content management to create flawless customer experiences. It furthers retail digital transformation by refining customer profiles, boosting self-service features, streamlining supply chain operations, and reducing operational expenses via automated processes.
What Are the Key Segments of the Retail Digital Transformation Market?
The retail digital transformation market covered in this report is segmented -
1) By Accessibility: Mobile Application, Website
2) By Technology: Cloud Computing, Big Data, Artificial intelligence, Internet Of Things (IoT), Augmented Reality (AR) Or Virtual Reality (VR)
3) By Product: Media And Entertainment, Apparel, Food And Beverage, Furniture And Home Decor, Beauty And Personal Care, Other Products
Subsegments:
1) By Mobile Application: Shopping Apps, Payment Apps, Customer Service Apps
2) By Website: E-Commerce Websites, Online Customer Support Portals, Digital Marketing Platforms
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Which Region Dominates the Retail Digital Transformation Market?
North America was the largest region in the retail digital transformation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail digital transformation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Retail Digital Transformation Global Market Report?
- Market Size Analysis: Analyze the Retail Digital Transformation Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Retail Digital Transformation Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Retail Digital Transformation Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Retail Digital Transformation Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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