In its recently published report, “Retail Digital Transformation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”, Transparency Market Research predicts growth at a remarkable 23.7% CAGR between 2014 and 2020 for the global retail digital transformation market.

According to the study, the market was valued at US$982.86 billion in 2013. Facilitated by factors such as growing Internet penetration and increasing popularity of mobile commerce, the market for retail digital transformation is likely to reach a total value of US$4,919.99 billion by the end of 2020.

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The global market for retail digital transformation can be segmented into websites and mobile apps in terms of the mode of access. Mobile apps segment accounted for 19% of the total market in 2013 and will exhibit a CAGR of 30.9% during the forecast period. The report identifies the escalating number of mobile apps for online shopping and increasing penetration of mobile devices in online retailing community as the major factors driving growth in the market.

According to geographical distribution of the market, North America dominated the global retail digital transformation market in 2013, accounting for 29% of the overall market. Factors such as high Internet penetration and growing online payment options have played significant role in propelling the market for retail digital information in the region.

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However, with increasing numbers of online stores and increasing inclination to adopt online retail, Latin America is expected to emerge as the fastest growing retail digital transformation market. High mobile penetration and increasing number of online retailers in India, China, and South Korea is likely to boost the retail digital transformation market in Asia Pacific at 30.2% CAGR during the forecast period.

About TMR

Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.