Global Alternative Data Market Size By Data Type, By End-User, By Delivery Model, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Alternative Data Market Size By Data Type, By End-User, By Delivery Model, By Geographic Scope And Forecast
Alternative Data Market Size And Forecast
Alternative Data Market size was valued at USD 8.2 Billion in 2023 and is projected to reach USD 150 Billion by 2030, growing at a CAGR of 60%during the forecast period 2024-2030.
Global Alternative Data Market Drivers
The market drivers for the Alternative Data Market can be influenced by various factors. These may include
Growing Need for Alpha Generation Investors are continuously looking for fresh sources of alpha, or excess returns over a benchmark, in the fiercely competitive financial markets. Insights from alternative data are distinct from those from traditional sources, which helps investors spot opportunities and obtain a competitive advantage.
Technological Developments The mass gathering and examination of alternative data has been made easier by technological developments, especially in fields like artificial intelligence, machine learning, and big data analytics. These technologies improve the value proposition of alternative data for investors by enabling complex data processing, pattern detection, and predictive modeling.
Proliferation of Data Sources Beyond traditional financial and economic indicators, there is a proliferation of data sources due to the internet and digital technology. Web traffic, satellite imagery, social media feeds, consumer transactions, and sensor data are just a few examples of the many sources that make up alternative data, which offers deep and varied insights into a number of fields and industries.
Regulatory Environment The gathering, storing, and use of alternative data may be affected by changes in regulations, such as the General Data Protection Regulation (GDPR) of the European Union and other comparable data protection legislation across the globe. Adherence to regulatory mandates is crucial for alternative data providers and consumers, as it molds the market environment and impacts data procurement tactics.
Rise of Data-driven Decision Making Data-driven decision-making procedures are becoming more and more important in a variety of businesses. Companies and investors appreciate the importance of data-driven insights in learning more about consumer behavior, market trends, and competitive dynamics. In order to drive corporate performance and inform strategic decisions, alternative data is essential.
Demand from Hedge Funds and Asset Managers The main consumers of alternative data for investment analysis and decision-making are hedge funds, asset managers, and other institutional investors. The alternative data market is expanding as a result of the increased competition in the investment management sector and the growing need for unique data sets and analytical tools.
Global Alternative Data Market Restraints
Several factors can act as restraints or challenges for the Alternative Data Market. These may include
Data Privacy and Compliance Issues Using alternative data frequently entails managing sensitive data, which presents issues with data privacy and compliance with legislation like the General Data Protection Regulation (GDPR) or laws that are equivalent in other jurisdictions. Increased enforcement or stricter rules may restrict the use and accessibility of specific alternative data types.
Data Reliability and Quality There might be wide variations in the dependability and quality of alternative data sources. Data that is erroneous or untrustworthy might result in poor analysis and decision-making, which can cost money. Businesses and investors could be hesitant to depend on alternative data if its dependability and accuracy cannot be guaranteed.
Lack of Standardization The format, structure, and reporting of alternative data sources are not standardized, in contrast to traditional financial data. It might be difficult to integrate and analyze disparate datasets; it takes a lot of work to clean, normalize, and standardize the data. This lack of uniformity could make it more difficult to incorporate different data into the analytical frameworks that are already in place.
inadequate Historical Data It may be difficult to evaluate long-term trends and carry out thorough historical analysis with some alternative datasets due to their inadequate historical data. The lack of a strong history dataset might be a constraint because firms and investors frequently rely on past data to make informed judgments.
Technology and Infrastructure Restrictions State-of-the-art analytical instruments and an advanced technical infrastructure are needed to handle and analyze massive amounts of alternative data. Market adoption may be restricted by small and medium-sized firms’ (SMEs) or organizations with low technological capabilities’ inability to fully utilize alternative data.
Ethical and Social Concerns Privacy, spying, and the possibility of biased decision-making are just a few of the ethical and social issues that may arise from the gathering and use of alternative data. Reactions from the public or heightened governmental oversight could influence businesses’ inclination to use particular kinds of alternative data.
Security Risks The security of alternative data becomes increasingly important as decision-making becomes more and more reliant on data. The integrity and reliability of alternative data sources are threatened by the possibility of data breaches, hacking, or illegal access to sensitive information.
Global Alternative Data Market Segmentation Analysis
The Global Alternative Data Market is Segmented on the basis of Data Type, End-User, Delivery Model and Geography.
Alternative Data Market, By Data Type
Financial Data Information utilized for trading techniques, investment decisions, and financial research that comes from a variety of sources, including credit card transactions, social media sentiments, site scraping, satellite images, and more.
Consumer Behavior Data Consumer behavior data is information obtained from both online and offline sources that is used for advertising, market research, and consumer insights. Examples of this type of data include purchase history, online browsing habits, and social media activity.
Supply Chain Data Supply chain data is information used to improve efficiency and optimize supply chain operations. It includes details about the movement of goods and services, logistics, transportation, inventory levels, etc.
Alternative Data Market, By End-User
Enterprises Big businesses and groups from a range of sectors that use alternative data for competitive intelligence, risk management, and strategic decision-making.
Small and Medium-Sized Enterprises (SMEs) These are companies that are less established and use alternate data sources for customer acquisition, market research, and operational efficiency.
Government Agencies Organizations in the public sector that use alternative data to create policies, follow regulations, and provide public services.
Alternative Data Market, By Delivery Model
APIs and Data Feeds enabling integration with current systems and apps by offering batch or real-time access to alternative data via APIs or data feeds.
Data Platforms Providing software or cloud-based platforms with extensive analytics and visualization features for processing, storing, and evaluating alternative data.
Custom Solutions Specifically designed solutions, such as data collecting, cleaning, analysis, and reporting, created by data providers or outside vendors to satisfy particular client needs.
Alternative Data Market, By Geography
North America Market conditions and demand in the United States, Canada, and Mexico.
Europe Analysis of the Alternative Data Market in European countries.
Asia-Pacific Focusing on countries like China, India, Japan, South Korea, and others.
Middle East and Africa Examining market dynamics in the Middle East and African regions.
Latin America Covering market trends and developments in countries across Latin America.
 Key Players
The major players in the Alternative Data Market are
1010data, Inc. (a subsidiary of Advance Publications, Inc.)
M Science LLC
Report Scope
REPORT ATTRIBUTES
DETAILS
Study Period
2020-2030
Base Year
2023
Forecast Period
2024-2030
Historical Period
2020-2022
Unit
Value (USD Billion)
Key Companies Profiled
Bloomberg L.P., FactSet Research Systems Inc., IHS Markit Ltd., S&P Global Inc., Refinitiv (formerly Thomson Reuters Financial & Risk), Quandl Inc. (a subsidiary of Nasdaq, Inc.), YipitData, Thinknum Alternative Data, 1010data, Inc. (a subsidiary of Advance Publications, Inc.), M Science LLC.
Segments Covered
By Data Type, By End-User, By Delivery Model, By Geography
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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