Retail Digital Transformation Market Growth Accelerated by AI Adoption
The retail digital transformation market has grown tremendously over the last few years as it helps retailers improve sales and optimize operations through digital technologies. Retail digital transformation incorporates technologies such as cloud computing, big data analytics, artificial intelligence, augmented reality, and IoT into retail operations. These help retailers improve the customer experience through personalized recommendations, predictive maintenance of infrastructure, and enhance supply chain visibility. The global retail digital transformation market is estimated to be valued at US$ 7230.57 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: Artificial intelligence has emerged as one of the major drivers of growth in the retail digital transformation market. AI helps retailers gain valuable insights from customer data to offer hyper-personaliz...