Market Research Future (MRFR) has published a “Global Alternative Data Market”
MRFR recognizes the following companies as the key players in the global Alternative Data market—Telefonaktiebolaget LM Ericsson, Qualcomm Technologies, Inc., Nokia, Intel Corporation, Samsung, Verizon, Cisco Systems, Inc., Huawei Technologies Co., Ltd., VMware, Inc., and Rakuten Symphony Singapore Pte. Ltd
The global alternative data market is accounted to register a CAGR of 53.20% during the forecast period and is estimated to reach USD 227.7 Billion by 2032.
Alternative data is information obtained from non-traditional sources. Alternative data analysis can produce insights that go beyond what can be discovered from an industry's traditional data sources. Investors use "alternative data"—non-traditional data sets—to guide their investment strategy. A few examples of alternative data sets are credit card transaction data, IoT sensor data, satellite photos, mobile device data, product evaluations, site traffic, weather data, app usage, and ESG (environmental, social, and corporate governance) data.
The enormous increase in the variety of alternative information sources over the past ten years is one of the primary factors credited with market expansion. The two most frequent sources are web scraping and financial transactions, although newer sources including mobile phones, social media, satellites, sensors, Internet of Things-enabled devices, and others are becoming more and more prevalent. As a result, the businesses are actively growing their selection by collecting data from all such sources.
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The global alternative data market has been segmented into data type, industry and end user.
On the basis of Data Type, the market is segmented into 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, and other data types. The credit & debit card transactions segment was attributed to holding the largest market share in 2022.
Based on Industry, the global Alternative Data market has been segmented into automotive, BFSI, energy, industrial, IT & telecommunications, media & entertainment, real estate & construction, retail, transportation & logistics, and other industries. The BFSI segment was expected to hold the largest market share in 2022.
Based on End User, the global Alternative Data market has been segmented into hedge fund operators, investment institutions, retail companies, and other end users. The hedge fund operators segment was expected to hold the largest market share in 2022.
The global Alternative Data market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Alternative Data market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Alternative Data market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Alternative Data market comprises of Middle East, Africa, and Latin America.
The largest market share for Alternative Data was maintained by the North American regional sector. Advan, Eagle Alpha, M Science, and UBS Evidence Lab are just a few of the numerous market players that are believed to have contributed to the region's sizable market share. The early embrace of alternative data by a number of national industry verticals also contributed to a sizable market share. Over 70% of American asset managers currently favor utilising alternative data in their investment process.
Moreover, Due to the sizeable alternative Assets the Management (AUM) category, the European market also maintained a sizable revenue share in 2022. The majority of these assets are dispersed throughout numerous asset types, including real estate, private equity, hedge funds, and raw materials. Alternative data is being utilized by asset management companies to create effective alpha-generating strategies more and more.
Additionally, The Asia Pacific region is predicted to be one of the fastest growing regional markets since investors are increasingly embracing data-driven research. The regional market is anticipated to offer significant expansion opportunities for companies from developing nations including China, India, Singapore, and Thailand.
Furthermore, the rest of the world's Alternative Data market is divided into the Middle East, Africa, and Latin America. the increasing availability of digital data in the region, along with the growing demand for more sophisticated data analytics tools, were expected to drive the adoption of alternative data in the coming years.
Key Findings of the Study