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The global alternative data market exhibited strong growth during 2015-2020. Alternative data refers to non-traditional data indicative of the future performance of an enterprise. It uses data sources, such as company filings, broker forecasts, e-commerce websites, public records, social media, web traffic, sensors and satellites. It enables the investors to obtain more accurate, faster and granular insights and metrics regarding the enterprise’s performance. These insights are also crucial for market outperformance, buy-side entities, funds and unit trusts to actively build fundamental investment models. As a result, it finds extensive applications across various industries, including automotive, banking, financial services and insurance (BFSI), energy, information technology (IT) and telecommunications.
Significant growth in the banking, financial services and insurance (BFSI) industry across the globe is one of the key factors creating a positive outlook for the market. Financial entities, such as hedge fund, mutual fund and insurance organizations, use alternative data to formulate strategic plans using analytics platforms, fluid data architecture, data science and testing tools. Moreover, the sudden outbreak of the coronavirus disease (COVID-19) is further providing growth opportunities to market players. Organizations are extensively using alternative data collected from smartphones, wearable devices, social media, websites and applications to gain meaningful insights regarding consumer behavior. Additionally, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT), artificial intelligence (AI) and machine learning solutions, are acting as other growth-inducing factors. These technologies provide real-time updates regarding changes in consumer behavior patterns related to their interests and purchases. Other factors, including significant improvements in the information technology (IT) infrastructure, along with rising expenditure capacities of the consumers, are anticipated to drive the market toward growth. Looking forward, IMARC Group expects the global alternative data market to grow at a CAGR of around 38% during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the global alternative data market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, data type and end use industry.
Breakup by Data Type:
Breakup by End Use Industry:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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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