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

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

Report Format: PDF+Excel | Report ID: SR112024A3709
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Market Overview

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. The increasing dependency of companies and investors on alternative data, rising progress in data analytics, artificial intelligence (AI), and machine learning (ML), the increasing penetration of the internet and mobile technology, improved investment strategies, and increasing interconnectivity of markets are some of the major factors propelling the market.

Report Attribute
 Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023 US$ 6,433.2 Million
Market Forecast in 2032 US$ 118,112.0 Million
Market Growth Rate 2024-2032
28.6%


Alternative data refers to non-traditional information used primarily for investment and business decisions, supplementing conventional data sources like financial statements and economic indicators. This can include a diverse range of data such as social media activity, web traffic, satellite imagery, and even weather patterns. Companies and investors leverage alternative data to gain insights that are not readily apparent through traditional metrics, thereby gaining a competitive edge. For instance, tracking customer reviews can give early signals about the performance of a product or service. As data analytics tools become more sophisticated, the use of alternative data in various industries is expanding.

Global Alternative Data Market Report

The quest for competitive advantage represents one of the key factors driving the growth of the market across the globe. As businesses and investors seek to outperform rivals, alternative data provides unique, actionable insights that traditional data sources cannot offer. The market is also driven by significant technological advancements in big data analytics, artificial intelligence (AI), and machine learning (ML) are also facilitating the easier collection and analysis of diverse data sets. The rise of the internet and mobile technology is substantially increasing data accessibility, thus making everything from social media metrics to satellite imagery available for analysis. Regulatory changes are beginning to provide a framework for the utilization of alternative data, increasing corporate confidence in its reliability and applicability. Sectors like finance are leveraging alternative data for improved investment strategies and risk assessment, further driving market growth. Additionally, globalization and interconnected markets necessitate diverse data sources to understand global trends, which is creating a positive outlook for the market across the globe.

Alternative Data Market Trends/Drivers:

Rising competitive advantage

In today's fast-paced business landscape, obtaining a competitive edge is imperative for sustained growth and profitability. Traditional data sources like financial statements and market reports are accessible to all market players and thus offer limited differentiation. Alternative data, on the other hand, provides unique, high-frequency insights that are not readily apparent through conventional data streams. These insights can range from consumer sentiment gathered through social media monitoring to foot traffic analysis via geolocation data. Companies and financial institutions harness these alternative data points to make informed investment decisions, forecast market trends, and develop strategies that place them a step ahead of their competitors. The potential to turn insights into actionable strategies is significantly amplifying the demand for alternative data.

Significant technological advancements

The advent of big data analytics, artificial intelligence (AI), and machine learning (ML) is revolutionizing the way data is collected, analyzed, and interpreted. These technologies can handle large and complex datasets, providing a more nuanced understanding of market dynamics. For instance, machine learning algorithms can sift through millions of social media posts to gauge public sentiment about a particular product, brand, or market trend. Advanced data analytics tools can then convert this information into actionable insights. As technology continues to advance, the scope for what can be achieved with alternative data is expected to broaden, further propelling the market.

Evolving regulatory environments

Although the alternative data market is relatively new, regulatory bodies are beginning to understand its potential and are working to provide a legal framework for its use. This is increasing the legitimacy and trustworthiness of alternative data. Companies feel more secure investing in alternative data when there is clear regulatory guidance, which in turn drives its adoption rates. Moreover, as industry standards develop, businesses are better able to gauge the quality and reliability of alternative data sources, thus making it a more integral part of decision-making processes.

 

 
 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Alternative Data Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global alternative data market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on data type and end use industry.

Breakup by Data Type:

 

 
 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • 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 dominate the market

The report has provided a detailed breakup and analysis of the market based on the data type. This includes 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. According to the report, credit and debit card transactions represented the largest segment.

Credit and debit card transactions offer high-frequency data that can be analyzed in real-time. This immediacy is crucial for companies and investors seeking to make swift and informed decisions. Transactional data provides invaluable insights into consumer spending habits, preferences, and loyalty to certain brands or services. This data can help businesses tailor marketing campaigns, adjust pricing strategies, and optimize product offerings. Financial institutions use transactional data for advanced risk assessment models, especially in credit scoring and fraud detection. By analyzing spending behavior, banks can better assess the creditworthiness of individuals and businesses. Investors and hedge funds utilize this data to gauge the health of specific sectors or companies. For instance, a sudden increase in transactions at a particular retail chain could be an indicator of strong performance, guiding investment decisions.

Breakup by End Use Industry:

  • Transportation and Logistics
  • BFSI
  • Retail and ECommerce
  • Energy and Utilities
  • IT and Telecommunications
  • Media and Entertainment
  • Others
     

BFSI holds the largest share in the market

The report has provided a detailed breakup and analysis of the market based on the end use industry. This includes transportation and logistics, BFSI, retail and ecommerce, energy and utilities, IT and telecommunications, media and entertainment, and others. According to the report, BFSI represented the largest segment.

The banking, financial services, and insurance (BFSI) sector finds numerous applications for alternative data, leveraging it for deeper insights and improved decision-making. Traditional credit scores don't always paint a complete picture of an individual's or a business's financial stability. Alternative data such as utility payments, rental history, and even social media activity can offer additional layers of information for more accurate credit risk profiling. Alternative data sources like geolocation data, device IDs, and social media activity can enhance fraud detection algorithms. This improves the ability of financial institutions to flag suspicious activities more effectively. Hedge funds and asset managers utilize alternative data like social media sentiment, web traffic, and satellite imagery to better understand market trends. This data can be crucial for making investment decisions that outperform the market. Understanding customer behavior through transactional data, online activity, and other non-traditional data sources enables banks and insurers to offer personalized products, thereby improving customer satisfaction and loyalty.

Breakup by Region:

 

 
 

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  • North America 
    • United States
    • Canada
  • Europe 
    • Germany
    • France
    • United Kingdom
    • Italy
    • Russia
    • Spain
    • Others
  • Asia Pacific 
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Latin America 
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

North America exhibits a clear dominance, accounting for the largest market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Russia, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

North America, particularly the United States, is a global leader in technology and data analytics. The region's advanced infrastructure and expertise in artificial intelligence, machine learning, and big data analytics make it conducive for the proliferation of alternative data. The region is home to some of the world's most sophisticated financial markets, hedge funds, and investment firms, which are among the primary consumers of alternative data. These institutions utilize alternative data to enhance investment strategies, risk assessment, and market analysis. North America has a relatively stable and evolving regulatory framework that is beginning to address the challenges and opportunities associated with alternative data. This provides a level of certainty and encourages investment in alternative data solutions. The entrepreneurial culture in North America supports the start-up ecosystem, leading to the creation of numerous companies specializing in alternative data collection, processing, and analysis.

Competitive Landscape:

Key players in the market are engaging in a range of activities to consolidate their market position, diversify data offerings, and cater to the increasing demand for actionable insights. Companies are actively acquiring or partnering with smaller firms and start-ups that specialize in collecting unique data sets. This expands their portfolio of alternative data, thus making them more attractive to a broader client base. Incorporation of artificial intelligence and machine learning algorithms to sift through and analyze data is becoming standard. These technologies make the extracted insights more accurate and actionable. Recognizing that different industries have varied needs, companies are offering tailored data solutions. For instance, some firms specialize in providing alternative data specifically curated for hedge funds, while others focus on consumer analytics. As the alternative data industry is still emerging, key players are investing in educational programs and resources to educate potential clients on the value and utility of alternative data.

The market research report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

  • 1010Data Inc. (Advance Communication Corp.)
  • Advan Research Corporation
  • Dataminr Inc.
  • Eagle Alpha
  • M Science
  • Nasdaq Inc.
  • Preqin
  • RavenPack
  • The Earnest Research Company
  • Thinknum Inc.

Recent Developments:

  • In April 2023, Eagle Alpha, the leading data platform and end-to-end workflow solution provider for the alternative data marketplace, announced the release of ‘Surveyor by Eagle Alpha’, their compliance-focused product to support data buyers and data vendors with due diligence and communication capture.
  • In April 2023, Preqin, the global leader empowering the alternatives community with
  • essential data and insight, announced the 2023 winners of the 2023 Preqin Awards, which recognize the market leaders and top industry performers across private capital and hedge funds.
  • that are shaping and transforming the alternative assets industry globally.
  • In June 2023, alternative data providers Thinknum, Similarweb and Eagle Alpha, among others, announced the launch of Alternative Data Academy, an organization geared to streamlining access to alt data research and democratizing access to industry knowledge.

Alternative Data Market Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • Data Type
  • End Use Industry
  • Region
Data Types Covered 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
End Use Industries Covered Transportation and Logistics, BFSI, Retail and ECommerce, Energy and Utilities, IT and Telecommunications, Media and Entertainment, Others
Regions Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered The United States, Canada, Germany, France, the United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 1010Data Inc. (Advance Communication Corp.), Advan Research Corporation, Dataminr Inc., Eagle Alpha, M Science, Nasdaq Inc., Preqin, RavenPack, The Earnest Research Company and Thinknum Inc. etc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the alternative data market from 2018-2032.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the global alternative data market.
  • The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the alternative data industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Key Questions Answered in This Report

The global alternative data market was valued at US$ 6,433.2 Million in 2023.

We expect the global alternative data market to exhibit a CAGR of 28.6% during 2024-2032.

The rising demand for alternative data across the Banking, Financial Services and Investment (BFSI) industry to acquire and retain customers, improve relationships, identify ideal prospects, etc., is primarily driving the global alternative data market.

The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of alternative data to understand real-time updates regarding changes in consumer behavior patterns related to their interests and purchases, during the lockdown scenario.

Based on the data type, the global alternative data market has been segmented into mobile application usage, credit and debit card transactions, email receipts, geo-location (foot traffic) records, satellite & weather data, social and sentiment data, web scraped data, web traffic, and others. Among these, credit and debit card transactions currently hold the majority of the total market share.

Based on the end use industry, the global alternative data market can be divided into transportation and logistics, BFSI, retail and ecommerce, energy and utilities, IT and telecommunications, media and entertainment, and others. Currently, the BFSI industry exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global alternative data market include 1010Data Inc. (Advance Communication Corp.), Advan Research Corporation, Dataminr Inc., Eagle Alpha, M Science, Nasdaq Inc., Preqin, RavenPack, The Earnest Research Company, and Thinknum Inc.

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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
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