We study the large-$N$ limit of the Segal--Bargmann transform on $S^{N-1}(\sqrt N)$, the $(N-1)$-dimensional sphere of radius $\sqrt N$, as a unitary map from the space of square-integrable functions with respect to the normalized spherical measure onto the space of holomorphic square-integrable functions with respect to a certain measure on the quadric. In particular, we give an explicit formulation and describe the geometric models for the limit of the domain, the limit of the range, and the limit of the transform when $N$ tends to infinity. We show that the limiting transform is still a unitary map from the limiting domain onto the limiting range.