零售技术市场报告

RETAILTECHNOLOGYMARKET REPORT FULL YEAR 2025 NEW YORK | LONDON | LOS ANGELES | PARIS | MUNICHSAN FRANCISCO | BERLIN | DUBAI INDEPENDENT LEADER IN TECH INVESTMENT BANKINGDELIVERING SUCCESSFUL OUTCOMES FOR OUR CLIENTS TOP GLOBAL BOUTIQUE 8 CORE VERTICALS 100% TECH-FOCUSEDINVESTMENT BANKOne of the largest tech-focused teams INDUSTRY EXPERTISE BASEDON STORY GLOBAL MID-MARKETTRANSACTIONS Top global boutique investment bankfocused on mid-market Tech With senior advisor team of ex-corporateCEOs OVER 500TRANSACTIONSWith mid-cap growth focus OVER 60 EXPERIENCED TEAM PROFESSIONALS AWARDS •10x Investment bank of the year•45+ Deal of the year•6x Leadership awards 16 Partner level bankers8 offices in 5 countries GLOBAL REACH COMBINED WITH LOCAL PRESENCE ONE OF THE LARGEST TECH TEAMS ACROSS NORTH AMERICA, EUROPE ANDASIA STRONG TRANSACTION TRACK RECORD ACROSS THE GLOBAL TECH LANDSCAPE OVER 500+ TRANSACTIONS COMPLETED DRAKE STAR’SRETAIL TECHNOLOGY COVERAGE TEAM GLOBAL EXPERTISE WITH LOCAL PRESENCE Julian RiedlbauerPartnerBerlin+49 172 661 5759julian.riedlbaur@drakestar.com Jimmy CannerPartnerNew York+1 610 223 3133jimmy.canner@drakestar.com Erik HansenPartnerNew York+1 650 521 3480erik.hansen@drakestar.com Eric WardManaging PartnerLondon+44 774 005 2486eric.ward@drakestar.com Christophe MorvanManaging PartnerParis+33 687 990 537christophe.morvan@drakestar.com SENIOR LEADERSHIP Ralf Philipp HofmannManaging Partner & Member of theExecutive Committee / Co-FounderMunich+49 173 393 0070ralf.hofmann@drakestar.com Gregory BedrosianManaging Partner & CEO, Member of theExecutive CommitteeNew York+1 203 524 5652gregory.bedrosian@drakestar.com Julian OstertagManaging Partner & Member of theExecutive Committee / Co-FounderMunich+49 891 490 26520julian.ostertag@drakestar.com RETAIL TECHNOLOGY SITS AT THE CENTER OF COMMERCE, CONNECTING DEMAND,OPERATIONS, AND MONETIZATION AT SCALE AS RETAIL SPEND SCALES ACROSS DIGITAL AND PHYSICAL CHANNELS, TECHNOLOGY HAS BECOME THE PRIMARY LEVER FOR GROWTH,EFFICIENCY, AND MARGIN PROTECTION Consumer and Macro Trends:With consumer demand, budget confidence, and channel patterns becoming increasingly volatile, retailtechnology is being pushed toward adaptive, real-time decisioning rather than static planning The Retail Operating Agenda:Retail technology sharpens the retail operating agenda by illuminating the clearest levers for conversion andmargin, ensuring ROI is visible and measurable across the business Market Map:The retail technology ecosystem is structured around a unified commerce flywheel–Plan, Market, Sell, Fulfill/Serve, andLearn/Monetize–bringing together capabilities across both digital and physical channels Segment Deep Dives:Retail technology is becoming a synchronized, data-driven ecosystem where planning, retail media, ecommerceenablement, in-store tech, and post-purchase solutions operate as one stack to drive demand, conversion, experience, and profitability Capital Markets and M&A:The retail technology market is entering a consolidation phase where funding constraints and point-solutionfatigue are catalyzing a wave of roll-ups by systems-of-record platforms to create integrated super suites RETAIL TECHNOLOGY MARKET SIZE RETAIL TECHNOLOGY MARKET GROWS AS MARGIN PRESSURES AMIDST ECONOMIC UNCERTAINTIES FORCE EFFICIENCY STRATEGIES $282B 750+ ~6% Annual Global RetailSales in 2025 Global Retail TechnologySpend in 2025 Projected Market CAGRthrough 2035 Global Retail TechnologyTransactions in 2025(1) As complexity increases, retailers are consolidating spend toward fewer, moreintegrated technology platforms that can unify data, workflows, and AI capabilities The landscape is movingbeyond automation to AI-driven personalization andpredictive shopping Focus on AI adoption andtransform data overloadinto strategic insightsusing analytics and digitalshelf labels Robust adoption ofomnichannel model thatblends physical and digitaltouchpoints for seamlessshopping journeys DRAKE STAR’S KEY RETAIL TECHNOLOGY MARKET TAKEAWAYS The global retail technology market is projected to grow ~6% annually to ~$500B by 2035, driven byautomation and AI, increasing the strategic value of platforms that control high-quality first-andthird-party retail data at scale Retail technology M&A and private placements regained momentum in 2025, with capitalconcentrating around enterprise systems ofofrecord, action, engagement, and intelligence thatdemonstrate high customer retention underscoring their value to retail buyers and positioning themas natural consolidation platforms As third-party cookies become less reliable / more restricted and AI models demand richer inputs,control of clean, permissioned first-party data, augmented by embedded third-party data, isbecoming the primary source of defensibility, valuation premiums, and AI differentiation in retailtechnology Retail technology is entering a structural consolidation phase, with M&A accelerating the absorptionof