Retail Sector IT Spending Set for Strong Growth
According to a forecast by Global Growth Insights, the global IT spending in the retail sector is projected to rise from approximately USD 104.14 billion in 2024 to USD 107.99 billion in 2025, and reach USD 144.41 billion by 2033, with a CAGR of 3.7% over the period from 2025 to 2033.
Cloud & Analytics Dominate Investment Priorities
The same report notes that over 60% of retailers are prioritizing investments in cloud computing and data analytics to bolster omnichannel strategies and customer personalization.
Broader IT Trends Align with Retail Objectives
This emphasis on digital transformation aligns with broader retail IT trends. Projections show that retailers are actively investing in infrastructure modernization across cloud services, AI, IoT and advanced analytics to optimize operations and elevate customer engagement.