Alternative Data Market Worth $135,723.5 Million by 2030 at CAGR of 52.1%: Grand View Research, Inc.

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Feb 08, 2023, 05:38 ET

SAN FRANCISCO, Feb. 8, 2023 /PRNewswire/ -- The global alternative data market size is anticipated to reach USD 135,723.5 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 52.1% from 2023 to 2030. The increasing emphasis on gaining alpha from hedge funds is expected to boost the demand for alternative data. The asset managers from hedge funds, mutual funds, private equity funds, pension funds, unit trusts, life insurance companies, and other BFSI entities are highly inclined to use alternative data to derive predictive insights. Moreover, the use of alternative data for risk management processes is also expected to drive market growth.

Key Industry Insights & Findings from the report:

Amidst the coronavirus pandemic, the companies are using alternative data collected from social media, mobile phones, applications, wearables, and other IoT-based devices to assess changes in consumer behavior patterns related to purchases and interests.
The credit and debit card transactions segment is anticipated to exhibit the highest CAGR from 2023 to 2030 owing to the high accuracy of the data type and significant demand from asset managers.
The hedge fund operators segment held the largest revenue share amongst all end-users in 2022 on account of rising demand for data from the investors and firms to identify lucrative investment opportunities and generate alpha.
The BFSI industry segment held the largest market share in 2022 as the entities such as hedge funds, mutual funds, and insurance companies are early adopters of alternative data.
North America dominated the market and accounted for over 58% share of revenue in 2022 and is expected to maintain its dominance from 2023 to 2030.
Emerging economies, such as India, Thailand, Singapore, and China, are expected to drive the market in the Asia Pacific owing to the rising use cases of alternative data for predictive risk assessment.

Read full market research report for more Insights, "Alternative Data Market Size, Share, & Trends Analysis Report By Data Type (Card Transactions, Mobile Application Usage, Social & Sentiment Data), By Industry, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Alternative Data Market Growth & Trends

Nowadays, data sources are not limited to transactions, and email receipts as companies are finding ways to extract data from various emerging sources. These include social media, web traffic, mobile devices, sensors, IoT-based devices, satellites, and e-commerce portals. The data analysts utilize this data in correlation with each other to derive various hidden patterns and insights. However, the data collected from some of these sources conflict with privacy regulations such as the California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR). Thus, the data aggregators and end-users need regulatory compliance, which ensures their datasets are free from Personal Identifiable Information (PII).

North America dominated the market and accounted for a revenue share of more than 58% in 2022. The region is estimated to continue its dominance over the forecast period from 2023 to 2030. The emerging presence of numerous alternative data providers in the U.S is the major driving factor. Companies such as Advan, Eagle Alpha, M Science, and YipitData are providing various types of alternative data, including credit and debit card transactions, email receipts, geo-location (foot traffic) records, mobile usage, satellite, weather data, social and sentiment data, and web scraped data. The acquisitions and partnership initiatives from companies such as Nasdaq and S&P Global Platts is further expected to fuel regional market growth.

On the other hand, Asia Pacific is expected to emerge as one of the fastest-growing regional markets over the forecast period. This is due to rising use-cases of alternative data in BFSI, retail, automotive, and telecommunication industries. The use of alternative data for investments and risk assessment, particularly from companies in emerging economies, such as India and China, is expected to boost the regional market growth.

Alternative Data Market Segmentation

Grand View Research has segmented the global alternative data market based on data type, industry, end-users, and region:

Alternative Data Market - Type Outlook (Revenue, USD Million, 2017 - 2030)

Credit & Debit Card Transactions
Email Receipts
Geo-location (Foot Traffic) Records
Mobile Application Usage
Satellite & Weather Data
Social & Sentiment Data
Web Scraped Data
Web Traffic
Other Data Types

Alternative Data Industry Outlook (Revenue, USD Million, 2017 - 2030)

Automotive
BFSI
Energy
Industrial
IT & Telecommunications
Media & Entertainment
Real Estate & Construction
Retail
Transportation & Logistics
Other Industries

Alternative Data Market - End-user Outlook (Revenue, USD Million, 2017 - 2030)

Hedge Fund Operators
Investment Institutions
Retail Companies
Other End-users

Alternative Data Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

North America

U.S.
Canada
Mexico

Europe

U.K.
Germany
France

Asia Pacific

China
India
Japan

South America

Brazil

Middle East & Africa

List of Key Players of Alternative Data Market

1010Data
Advan
Dataminr
Earnest Research
M Science
Preqin
RavenPack
Thinknum Alternative Data
UBS Evidence Lab
YipitData

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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