The smart retail market is expected to grow from $21.6 billion in 2020 to $62.5 billion by 2025, according to a report by MarketsandMarkets. It will also grow at a compound annual growth rate of 23.6%.

Some of the primary drivers of this market include the push for robots and automation as well as big data analytics. Also, smart fitting rooms that enable customers to virtually try on clothes with displays will see the highest CAGR from 2020 to 2025.

The Asia Pacific region will see the highest growth during the forecasted period, according to the report.