IMARC Group’s report titled “Alternative Data Market Report by Data Type (Mobile Application Usage, Credit and Debit Card Transactions, Email Receipts, Geo-Location (Foot Traffic) Records, Satellite and Weather Data, Social and Sentiment Data, Web Scraped Data, Web Traffic, and Others), End Use Industry (Transportation and Logistics, BFSI, Retail and ECommerce, Energy and Utilities, IT and Telecommunications, Media and Entertainment, and Others), and Region 2024-2032″. The global alternative data market size reached US$ 6,433.2 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 118,112.0 Million by 2032, exhibiting a growth rate (CAGR) of 28.6% during 2024-2032.
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Factors Affecting the Growth of the Alternative Data Industry:
- Increasing Data Availability:
Governments, research institutions, and organizations are embracing open data initiatives, making vast amounts of data publicly available for analysis. These datasets cover areas, such as demographics, transportation, healthcare, environment, providing valuable insights for various industries, including finance. The proliferation of digital devices and online platforms is expanding digital footprints, generating vast amounts of data through interactions, transactions, and behaviors. This includes social media posts, online purchases, search queries, and mobile app usage, which can be leveraged for sentiment analysis, user preferences, and market sentiment.
- Demand for Unique Insights:
Alternative data offers investors a competitive advantage by providing access to non-traditional datasets that are not widely utilized by the broader market. These datasets can offer early indicators of market trends, user behavior, supply chain dynamics, and company performance, enabling investors to make informed decisions ahead of competitors. Alternative data also complements traditional fundamental and technical analysis by providing additional layers of information and context. By integrating alternative datasets with traditional sources of market information, investors can gain a more comprehensive understanding of market dynamics and make more informed investment decisions.
- Technological Advancements:
Innovations are leading to the development of sophisticated tools and techniques for collecting data from a wide range of sources. This includes web scraping tools, application programming interfaces (APIs), data crawlers, Internet of Things (IoT) devices, and satellite imagery platforms, which facilitate the collection of diverse datasets at scale. The rise of big data analytics is enabling organizations to process and analyze large volumes of data quickly and efficiently. Technologies, such as distributed computing frameworks, cloud computing platforms, and high-performance computing systems allow for the processing of massive datasets in parallel, unlocking insights that were previously inaccessible.
Leading Companies Operating in the Global Alternative Data Industry:
- 1010Data Inc. (Advance Communication Corp.)
- Advan Research Corporation
- Dataminr Inc.
- Eagle Alpha
- M Science
- Nasdaq Inc.
- Preqin
- RavenPack
- The Earnest Research Company
- Thinknum Inc.
Alternative Data Market Report Segmentation:
By Data Type:
- Mobile Application Usage
- Credit and Debit Card Transactions
- Email Receipts
- Geo-location (Foot Traffic) Records
- Satellite and Weather Data
- Social and Sentiment Data
- Web Scraped Data
- Web Traffic
- Others
Credit and debit card transactions represent the largest segment as they offer granular insights into consumer spending patterns and economic activity, which are highly valued by investors for making informed decisions.
By End Use Industry:
- Transportation and Logistics
- BFSI
- Retail and ECommerce
- Energy and Utilities
- IT and Telecommunications
- Media and Entertainment
- Others
BFSI accounts for the majority of the market share due to its reliance on data-driven insights for risk management, investment analysis, and regulatory compliance.
Regional Insights:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
North America enjoys the leading position in the alternative data market on account of its mature financial markets, strong technological infrastructure, and a high concentration of financial institutions and technology companies actively investing in alternative data solutions.
Global Alternative Data Market Trends:
There is a growing emphasis on data quality, accuracy, and compliance with regulations, such as GDPR and CCPA. Alternative data vendors are investing in data governance, validation processes, and regulatory compliance to ensure the integrity and legality of the data they provide. Data marketplaces and platforms are gaining traction as intermediaries between data vendors and buyers, facilitating the discovery, evaluation, and purchase of alternative datasets. These marketplaces promote transparency, efficiency, and standardization in the alternative data industry.
Alternative data is integrated into traditional investment processes, with financial institutions incorporating alternative datasets into their quantitative models, risk management strategies, and investment decision-making processes to gain a competitive edge.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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