Global Alternative Data Market to Reach US$ 118,112.0 Million by 2032, Bolstered by Significant Growth in BFSI Industry

October 11, 2022 | Technology & Media

According to the latest report by IMARC Group, 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 reached a value of US$ 6,433.2 Million in 2023. Alternative data refers to non-traditional data sets utilized by enterprises to gain insight into future performance outside traditional sources, such as company filings, broker forecasts, and management guidance. It includes credit card transaction data, web-scrape social media, satellite imagery, mobile application usage, email receipts, and the Internet of Things (IoT) sensors. Alternative data is widely used in predictive modeling, demand forecasting, investment research and deal sourcing, due diligence, portfolio management, and online activity insight. It assists in getting more accurate, faster, and granular insights and metrics into a company’s performance. Alternative data also helps organizations to compare and measure information in real time, generate truly innovative indicators, and improve self-knowledge.

Global Alternative Data Market Trends:

Significant growth in the banking, financial services, and investment (BFSI) industry across the globe is creating a positive outlook for the market. Alternative data is widely used by banks, investment firms, and financial institutions to acquire and retain customers, improve relationships, identify ideal prospects, and expand the small business portfolio. In line with this, it also assists in preventing fraud and unlocks improvement in growth, productivity, and risk management, which, in turn,s is favoring the market growth. Furthermore, the widespread product utilization by several governments for public health statistics, policymaking, achieving sustainable development goals (SDGs), and analyzing the needs of most marginalized classes are providing a considerable boost to the market growth. Apart from this, the integration of artificial intelligence (AI), machine learning (ML), and natural language process (NLP) to analyze alternative data, unlock its insight and value, and gain a competitive edge is propelling the market growth. Moreover, the widespread product utilization in the commercial aviation industry to derive accurate forecasts, analyze customers’ interests in specific flights and destinations, and mitigate risks of aviation accidents, is providing an impetus to the market growth. Other factors, including significant improvements in the information technology (IT) infrastructure, widespread product adoption for predicting weather conditions, and proliferation of connected devices, such as smartphones and smart wearables, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 118,112.0 Million by 2032, exhibiting a CAGR of 28.6% during 2024-2032.

Market Summary:

  • On the basis of the data type, the market has been divided into 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.
  • Based on the end use industry, the market has been classified into transportation and logistics, BFSI, retail and eCommerce, energy and utilities, IT and telecommunications, media and entertainment, and others.
  • On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the industry has also been examined, with some 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.

About Us:

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.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Alternative Data Market to Reach US$ 118,112.0 Million by 2032, Bolstered by Significant Growth in BFSI Industry
Purchase options

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-713-2163


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More