Market Overview 2023-2028:

The global alternative data market size reached US$ 4,232.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 52,197.1 Million by 2028, exhibiting a growth rate (CAGR) of 50.9% during 2023-2028.

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.

Alternative Data Market Trends:

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. 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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global alternative data market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on data type and end use industry.

Breakup by Data Type:

• 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
• Others
   

Breakup by End Use Industry:

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

Breakup by Region:

• 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
   

Competitive Landscape:

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.

Report Coverage: