This report describes and explains the retail digital transformation market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global retail digital transformation market reached a value of nearly $285.09 billion in 2024, having grown at a compound annual growth rate (CAGR) of 18.56% since 2019. The market is expected to grow from $285.09 billion in 2024 to $665.62 billion in 2029 at a rate of 18.48%. The market is then expected to grow at a CAGR of 17.77% from 2029 and reach $1.5 trillion in 2034.
Growth in the historic period resulted from favorable government support, shift toward personalized medicine, growth in healthcare infrastructure and increasing medical tourism. Factors that negatively affected growth in the historic period were the high costs of EMR systems and reluctance to adopt new technology in patients.
Going forward, the increasing prevalence of chronic diseases, rising healthcare spending, expansion of telehealth services and increasing digital transformation in healthcare support will drive growth. Factor that could hinder the growth of the retail digital transformation market in the future include were limited availability of skilled professionals and inadequate IT infrastructure.
North America was the largest region in the retail digital transformation market, accounting for 36.50% or $104.04 billion of the total in 2024. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the retail digital transformation market will be Asia-Pacific and South America where growth will be at CAGRs of 23.51% and 21.68% respectively. These will be followed by Eastern Europe and Middle East where the markets are expected to grow at CAGRs of 20.03% and 18.96% respectively.
The global retail digital transformation markets are highly fragmented, with large players operating in the market. The top 10 competitors in the market made up 5.20% of the total market in 2023. Amazon.com, Inc. was the largest competitor with a 1.13% share of the market, followed by Alphabet Inc. with 0.64%, International Business Machines Corp. (IBM) with 0.55%, SAP SE with 0.49%, Oracle Corporation with 0.46%, Accenture plc with 0.45%, Capgemini SE with 0.41%, Tata Consultancy Services Ltd. with 0.36%, Wipro Ltd. with 0.36% and Microsoft Corporation with 0.35%.
The retail digital transformation market is segmented by accessibility into mobile application and website. The mobile application market was the largest segment of the retail digital transformation market segmented by accessibility, accounting for 57.93% or $165.16 billion of the total in 2024. Going forward, the mobile application segment is expected to be the fastest growing segment in the retail digital transformation market segmented by accessibility, at a CAGR of 21.03% during 2024-2029.
The retail digital transformation market is segmented by technology into cloud computing, big data, artificial intelligence, internet of things (IoT), augmented reality (AR) Or virtual reality (VR). The cloud computing market was the largest segment of the retail digital transformation market segmented by technology, accounting for 31.27% or $89.14 billion of the total in 2024. Going forward, the artificial intelligence segment is expected to be the fastest growing segment in the retail digital transformation market segmented by technology, at a CAGR of 20.92% during 2024-2029.
The retail digital transformation market is segmented by product into consumer electronics, media and entertainment, apparel, food and beverage, furniture and home decor, beauty and personal care and other products. The consumer electronics market was the largest segment of the retail digital transformation market segmented by product, accounting for 23.93% or $68.21 billion of the total in 2024. Going forward, the apparel segment is expected to be the fastest growing segment in the retail digital transformation market segmented by product, at a CAGR of 20.19% during 2024-2029.
The top opportunities in the retail digital transformation market segmented by accessibility will arise in the mobile application segment, which will gain $263.77 billion of global annual sales by 2029. The top opportunities in the retail digital transformation market segmented by technology will arise in the cloud computing segment, which will gain $111.43 billion of global annual sales by 2029. The top opportunities in the retail digital transformation market segmented by product will arise in the consumer electronics segment, which will gain $91.0 billion of global annual sales by 2029. The retail digital transformation market size will gain the most in the USA at $88.84 billion.
Market-trend-based strategies for the retail digital transformation market include enhancing retail operations with AI-driven store management solutions, enhancing retail experiences with ai-powered digital assistants, revolutionizing retail media with AI-powered second-screen shopping, advancing retail digital transformation with an affordable and mobile-ready PoS solution and optimizing retail operations with advanced commerce and order management solutions.
Player-adopted strategies in the retail digital transformation market include focus on expanding business operations through strategic partnerships and better serve the industry and strengthen their position.
To take advantage of the opportunities, the analyst recommends the retail digital transformation companies to focus on leveraging ai-powered solutions for operational efficiency and customer experience, focus on ai-powered digital assistants to enhance customer experience and operational efficiency, focus on ai-powered digital assistants to enhance customer experience and operational efficiency, focus on developing advanced pos solutions to optimize retail operations, focus on commerce platforms to unify sales channels and drive business growth, focus on mobile application segment to maximize growth potential, focus on artificial intelligence to capture maximum market momentum, focus on food and beverage to leverage highest growth momentum, expand in emerging markets, focus on expanding omnichannel and regional distribution access, focus on dynamic and value-based pricing to maximize profitability, focus on value-driven messaging aligned with customer segments, focus on value-driven messaging aligned with customer segments, focus on enhancing workforce capabilities to improve retail engagement.
The global retail digital transformation market reached a value of nearly $285.09 billion in 2024, having grown at a compound annual growth rate (CAGR) of 18.56% since 2019. The market is expected to grow from $285.09 billion in 2024 to $665.62 billion in 2029 at a rate of 18.48%. The market is then expected to grow at a CAGR of 17.77% from 2029 and reach $1.5 trillion in 2034.
Growth in the historic period resulted from favorable government support, shift toward personalized medicine, growth in healthcare infrastructure and increasing medical tourism. Factors that negatively affected growth in the historic period were the high costs of EMR systems and reluctance to adopt new technology in patients.
Going forward, the increasing prevalence of chronic diseases, rising healthcare spending, expansion of telehealth services and increasing digital transformation in healthcare support will drive growth. Factor that could hinder the growth of the retail digital transformation market in the future include were limited availability of skilled professionals and inadequate IT infrastructure.
North America was the largest region in the retail digital transformation market, accounting for 36.50% or $104.04 billion of the total in 2024. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the retail digital transformation market will be Asia-Pacific and South America where growth will be at CAGRs of 23.51% and 21.68% respectively. These will be followed by Eastern Europe and Middle East where the markets are expected to grow at CAGRs of 20.03% and 18.96% respectively.
The global retail digital transformation markets are highly fragmented, with large players operating in the market. The top 10 competitors in the market made up 5.20% of the total market in 2023. Amazon.com, Inc. was the largest competitor with a 1.13% share of the market, followed by Alphabet Inc. with 0.64%, International Business Machines Corp. (IBM) with 0.55%, SAP SE with 0.49%, Oracle Corporation with 0.46%, Accenture plc with 0.45%, Capgemini SE with 0.41%, Tata Consultancy Services Ltd. with 0.36%, Wipro Ltd. with 0.36% and Microsoft Corporation with 0.35%.
The retail digital transformation market is segmented by accessibility into mobile application and website. The mobile application market was the largest segment of the retail digital transformation market segmented by accessibility, accounting for 57.93% or $165.16 billion of the total in 2024. Going forward, the mobile application segment is expected to be the fastest growing segment in the retail digital transformation market segmented by accessibility, at a CAGR of 21.03% during 2024-2029.
The retail digital transformation market is segmented by technology into cloud computing, big data, artificial intelligence, internet of things (IoT), augmented reality (AR) Or virtual reality (VR). The cloud computing market was the largest segment of the retail digital transformation market segmented by technology, accounting for 31.27% or $89.14 billion of the total in 2024. Going forward, the artificial intelligence segment is expected to be the fastest growing segment in the retail digital transformation market segmented by technology, at a CAGR of 20.92% during 2024-2029.
The retail digital transformation market is segmented by product into consumer electronics, media and entertainment, apparel, food and beverage, furniture and home decor, beauty and personal care and other products. The consumer electronics market was the largest segment of the retail digital transformation market segmented by product, accounting for 23.93% or $68.21 billion of the total in 2024. Going forward, the apparel segment is expected to be the fastest growing segment in the retail digital transformation market segmented by product, at a CAGR of 20.19% during 2024-2029.
The top opportunities in the retail digital transformation market segmented by accessibility will arise in the mobile application segment, which will gain $263.77 billion of global annual sales by 2029. The top opportunities in the retail digital transformation market segmented by technology will arise in the cloud computing segment, which will gain $111.43 billion of global annual sales by 2029. The top opportunities in the retail digital transformation market segmented by product will arise in the consumer electronics segment, which will gain $91.0 billion of global annual sales by 2029. The retail digital transformation market size will gain the most in the USA at $88.84 billion.
Market-trend-based strategies for the retail digital transformation market include enhancing retail operations with AI-driven store management solutions, enhancing retail experiences with ai-powered digital assistants, revolutionizing retail media with AI-powered second-screen shopping, advancing retail digital transformation with an affordable and mobile-ready PoS solution and optimizing retail operations with advanced commerce and order management solutions.
Player-adopted strategies in the retail digital transformation market include focus on expanding business operations through strategic partnerships and better serve the industry and strengthen their position.
To take advantage of the opportunities, the analyst recommends the retail digital transformation companies to focus on leveraging ai-powered solutions for operational efficiency and customer experience, focus on ai-powered digital assistants to enhance customer experience and operational efficiency, focus on ai-powered digital assistants to enhance customer experience and operational efficiency, focus on developing advanced pos solutions to optimize retail operations, focus on commerce platforms to unify sales channels and drive business growth, focus on mobile application segment to maximize growth potential, focus on artificial intelligence to capture maximum market momentum, focus on food and beverage to leverage highest growth momentum, expand in emerging markets, focus on expanding omnichannel and regional distribution access, focus on dynamic and value-based pricing to maximize profitability, focus on value-driven messaging aligned with customer segments, focus on value-driven messaging aligned with customer segments, focus on enhancing workforce capabilities to improve retail engagement.
Major Market Trends
- Enhancing Retail Operations With AI-Driven Store Management Solutions
- Enhancing Retail Experiences With AI-Powered Digital Assistants
- Revolutionizing Retail Media With AI-Powered Second-Screen Shopping
- Advancing Retail Digital Transformation With An Affordable and Mobile-Ready PoS Solution
- Optimizing Retail Operations With Advanced Commerce and Order Management Solutions
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Global Retail Digital Transformation
9 Global Retail Digital Transformation Market Segmentation
10 Retail Digital Transformation Market, Regional and Country Analysis
11 Asia-Pacific Market
12 Western Europe Market
13 Eastern Europe Market
14 North America Market
15 South America Market
16 Middle East Market
17 Africa Market
18 Competitive Landscape and Company Profiles
19 Other Major and Innovative Companies
22 Key Mergers and Acquisitions
23 Recent Developments in the Retail Digital Transformation Market
24 Opportunities and Strategies
25 Retail Digital Transformation Market, Conclusions and Recommendations
26 Appendix
Executive Summary
Retail Digital Transformation Global Market Opportunities and Strategies to 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global retail digital transformation market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
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- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for retail digital transformation ? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The retail digital transformation market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider retail digital transformation market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by accessibility, by technology and by product.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market
- Growth Analysis and Strategic Analysis Framework- Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth
- Global Market Size and Growth Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis- Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by accessibility, by technology and by product in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Recent Developments- Information on recent developments in the market covered in the report.
- Market Opportunities and Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations- This section includes recommendations for retail digital transformation market providers in terms of product/service offerings geographic expansion, marketing strategies and target groups next five years.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
1) by Accessibility: Mobile Application; Website
2) by Technology: Cloud Computing; Big Data; Artificial Intelligence; Internet of Things; Augmented Reality
3) by Product: Media and Entertainment; Consumer Electronics; Apparel; Food and Beverage; Furniture and Home Décor; Beauty and Personal Care; Other Products
Key Companies Profiled: Amazon.com Inc; Alphabet Inc; International Business Machines (IBM) Corporation; SAP SE; Oracle Corporation
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; retail digital transformation indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
The companies featured in this Retail Digital Transformation market report include:- Amazon.com Inc
- Alphabet Inc
- International Business Machines (IBM) Corporation
- SAP SE
- Oracle Corporation
- Accenture plc
- Capgemini SE
- Tata Consultancy Services Ltd.
- Wipro Ltd.
- Microsoft Corporation
- Aforza Inc
- Digital China Group Co., Ltd
- LTIMindtree
- Hitachi, Ltd
- Alibaba
- Shinsegae Group
- JD.com
- Tencent
- Pinduoduo
- Suning.com
- Reliance Retail
- Tata Digital
- Rakuten
- SoftBank
- Seven & i Holdings
- Mercari
- Coupang
- Naver
- Lotte Group
- JMA Wireless
- Zalando SE
- Ocado Group plc
- Tesco PLC
- Carrefour Group
- J Sainsbury plc
- MediaMarktSaturn Retail Group GmbH
- Panasonic Connect Europe
- Koninklijke Ahold Delhaize N.V
- Phos
- Ingenico
- X5 Retail Group
- Magnit
- Lenta
- Biedronka
- Carrefour Polska
- Tesco Stores CR
- Albert Czech Republic
- TESCO Hungary
- Spar
- Zabka Group
- Auchan
- Softchoice
- Informatica
- Syniti
- Cantaloupe
- Salesforce
- SAP
- Microsoft
- IBM
- Accenture
- Oracle
- Infosys
- Adobe
- Santander
- retalon
- Thinkmax
- Displaydata
- SID Global Solutions
- Showcase
- Mercado Libr
- Rappi
- Capgemini SE
- Loghaus
- Liberty Latin America
- Edstellar
- tezo
- Numak & Company
- Vantiva
- Quartr
- Trax Retail
- Flevy
- Emirates Telecommunications Group Co PJSC
- Emirates
- Pure Consulting
- BoTree Technologies
- 10xgmartech
- PwC
- Tracxn
- Resilient Digital Africa
- ZAWYA
- Rishabh Software
- WNS
- AUDA-NEPAD
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 324 |
| Published | April 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 285.09 Billion |
| Forecasted Market Value ( USD | $ 1500 Billion |
| Compound Annual Growth Rate | 18.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 94 |
