The digital transformation in the retail market is expected to grow by USD 868.71 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 19.09% during the forecast period. The market is segmented by technology (IoT, cloud computing, big data, AI, and AR/VR), product (consumer electronics, media and entertainment, apparel, food and beverage, and others), and geography (North America, Europe, APAC, the Middle East and Africa, and South America). The emergence of the IoT has brought about a revolution in the retail sector, where customers are transformed into smart retailers who collect and analyze data relating to their individual needs, tastes, and habits as quickly as possible. This will enable retailers to predict the shopping habits of their customers, offering them individually made products and services in line with their needs.