Dublin, June 19, 2025 (GLOBE NEWSWIRE) -- The "Retail Digital Transformation Market Opportunities and Strategies to 2034" has been added to ResearchAndMarkets.com's offering.
The global retail digital transformation market is set for remarkable expansion, witnessing significant growth from 2019 through 2034. Valued at nearly $285.09 billion in 2024, the market is projected to surge to $665.62 billion by 2029, maintaining a compound annual growth rate (CAGR) of 18.48%. By 2034, the market is anticipated to reach $1.5 trillion, growing at a CAGR of 17.77% from 2029 onwards.
During the historic period, growth was fueled by favorable government policies, advancements in healthcare infrastructure, and increased medical tourism. However, challenges such as high EMR system costs and technological hesitancy among patients posed hurdles. Looking ahead, the rising incidence of chronic illnesses, healthcare spending growth, and telehealth service expansion will drive market progression, although challenges like insufficient IT infrastructure and skilled professionals could impede growth.
North America led the market in 2024, with a substantial 36.50% share, equating to $104.04 billion. Asia-Pacific and South America are poised for the most rapid growth in the upcoming years, with anticipated CAGRs of 23.51% and 21.68%, respectively. The market's competitive landscape is fragmented, with key players like Amazon, Alphabet, and IBM each holding modest market shares.
Market segmentation reveals the dominance of the mobile application sector, which represents 57.93% or $165.16 billion in 2024, and is set to grow at a CAGR of 21.03% by 2029. Cloud computing leads the technological segmentation, while artificial intelligence is expected to outpace other categories, growing at a CAGR of 20.92% in the forecast period.
In terms of products, consumer electronics accounted for the largest share, 23.93% or $68.21 billion in 2024, with the apparel sector predicted to be the fastest-growing segment at a CAGR of 20.19% during 2024-2029. Investment opportunities abound in mobile applications, cloud computing, and consumer electronics, with notable gains expected by 2029.
Noteworthy strategies driving the market involve AI-driven retail operations, enhancing customer engagement through digital assistants, and optimizing retail environments with advanced PoS solutions. Strategic partnerships are paramount for companies aiming to solidify their global foothold and exploit emerging market opportunities.
Conclusively, to maximize growth, the retail digital transformation firms are encouraged to capitalize on AI-powered solutions, focus on the burgeoning mobile application market, leverage emerging market expansion, and implement dynamic pricing strategies. Building workforce expertise to enhance customer engagement is also crucial for sustaining growth.
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
Reasons to Purchase
- Gain a global perspective with thorough coverage across diverse regions.
- Understand the impact of COVID-19 on the market and anticipate future growth as the situation evolves.
- Develop nuanced regional and country strategies based on local data and analytics.
- Identify potential growth segments and make informed investment decisions.
- Outpace competitors with detailed forecast data, market drivers, and trends shaping the industry.
- Stay informed on evolving customer insights from the latest market research findings.
- Benchmark performance against key competitors for strategic advantage.
- Leverage the interplay between various data sets for enhanced strategic planning.
Chapters Overview
- Introduction and Market Characteristics
- Key Trends and Strategic Analysis Framework
- Global Market Size, Growth, and Segmentation
- Regional and Country-Specific Analysis
- Market Segmentation by Accessibility, Technology, and Product
- Competitive Landscape and Benchmarking
- Impactful Mergers, Acquisitions, and Recent Developments
- Market Opportunities, Strategies, and Recommendations
- Appendices detailing technical specifications and codes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 324 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value (USD) in 2024 | $285.09 Billion |
| Forecasted Market Value (USD) by 2034 | $1500 Billion |
| Compound Annual Growth Rate | 18.1% |
| Regions Covered | Global |
Companies Featured
- 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
For more information about this report visit https://www.researchandmarkets.com/r/u50ztz
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
