The 68-year-old multi-instrumentalist, has been away from the lime light since he faced a medical emergency in 2004, said The Hollywood reporter.
Giddings, who has a long association with Bowie made the revelation at the inaugural International Festival Forum (IFF).
"David is one of the best artists I've ever worked with. But every time I see him now, before I even speak to him, he goes, 'I'm not touring' and I say, I'm not asking.
"He has decided to retire and, like Phil Collins, you can't demand these people go out there again and again and again. I'm really pleased and proud that the last show he ever did in the UK was the 2004 Isle Of Wight Festival," the British promoter said.
Last year marked the 50th anniversary of his debut single "Liza Jane".
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