Global Alternative Data Market Report and Forecast 2024-2032

Global Alternative Data Market Size

The global alternative data market size attained a value of USD 6.31 billion in 2023. The market is further expected to grow at a CAGR of 40.2% between 2024 and 2032, reaching a value of USD 132.04 billion by 2032.

Key Trends in the Market

Alternative data refers to a type of data which is integrated from non-traditional sources such as research notes, credit card transactions, social media commentary, or reviews of a policy or a product. Satellite imagery, data found through IoT sensors, and email receipts, among others, are some of the examples of alternative data. This kind of data is unstructured, hard to get, sizeable, and requires high analytical power.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

• Increasing demand for alternative data from venture capitalists and private equity players, to gain accurate, faster, and reliable and hard-to-get insights, is expanding the market for alternative data. Alternative data helps boost a company’s performance, which is heightening its adoption across various end use sectors.

• With advent of rapid digitalisation and increased complexity of data structures, there is a growing importance of extraction of alternative data and valuable insights. Moreover, alternative data can grow existing customer relationships, identify suitable prospects, scale-up small businesses, and improve pre-screen initiatives, leading to a heightened alternative data market growth.

• The increasing penetration of alternative data in the automotive sector is contributing towards the expansion of the market for alternative data. Alternative data is gaining traction among the auto lenders to expand their lending pools as the automotive market is combating increasing vehicle prices. Technological advancements in the automotive sector are expected to be key alternative data market trends.

Alternative Data Market Analysis

Based on type, the market is segmented into credit and debit card transactions, email receipts, geo-location (foot traffic) records, mobile application usage, satellite and weather data, social and sentiment data, web scraped data, and web traffic, among others. On the basis of industry, the market is classified into automotive, BFSI, energy, industrial, IT and telecommunication, media and entertainment, real estate and construction, retail, and transportation and logistics, among others. By end user, the market is categorised into hedge fund operators, investment institutions, and retail companies, among others. The regional markets for alternative data are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global alternative data market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Dataminr, Inc.

• 1010data, Inc.

• Advan Research Corporation

• M Science LLC

• Preqin Ltd

• Eagle Alpha Limited

• RavenPack International S.L.U.

• Thinknum Alternative Data

• UBS AG

• Yipit LLC

• Others

Alternative Data Market Share by Industry

The BFSI segment, based on industry, accounts for a healthy share of the alternative data market, driven by the increasing dependence on alternative data to boost loan and facilitate account growth. Alternative data also opens new dimensions of customer acquisition and retention which is heightening the adoption of alternative data across banking and financial institutions. Growing efforts of baking and financial institutions towards collecting, organising, and gaining customer insights to improve growth, productivity, and augment risk management, are expected to expand the growth opportunities for alternative data in the BFSI sector in the forecast period.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Alternative Data Market Share by End User

Based on end user, the hedge fund operators segment accounts for a significant share of the market for alternative data. Alternative data enables hedge funds to gain an edge by providing critical insights about prices and market dynamics which traditional data cannot. In addition, alternative data can authenticate thesis of hedge fund managers which can provide insights about market expectations for future growth. Over the forecast period, the anticipated increase in adoption of alternative data such as web data, survey data, and weather data, is likely to add to the segment’s growth. Moreover, alternative data analyses unique customer behaviour which improves decision making, thereby escalating the demand for alternative data methods in hedge funds.

Competitive Landscape

Dataminr, Inc. is a leading software company which supports businesses by providing high-end solutions and integrated tools such as artificial intelligence (AI), real-time monitoring, digital documentation, and messaging. Founded in 2009, Dataminr is headquartered in New York, United States.

1010data, Inc. is a software as a service company which offers solutions related to retail overview, retail analytics, and market intelligence, along with a wide range of advanced solutions. This company was founded in 2000 and is currently headquartered in New York, United States.

Advan Research Corporation, established in 2015 and headquartered in New York, United States, is a renowned software developing company which provides solutions related to finances, retail, migration, and demographics. This company makes hedge funding lucrative by providing technological support and insights related to different sectors.

Other market players include M Science LLC, Preqin Ltd, Eagle Alpha Limited, RavenPack International S.L.U., Thinknum Alternative Data, UBS AG, and Yipit LLC, among others.

Key Highlights of the Report