Alternative Data Market Research Report By Type (Web Scraping Data, Geolocation Data, Social Media Data, Transaction Data), By Application (Investment Research, Risk Management, Marketing Analytics, Corporate Strategy), By Data Source (Publicly Available Data, Private Data, User-Generated Data, Third-Party Data), By End User (Financial Institutions, Consulting Firms, Retail Enterprises, Technology Companies) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2035

Alternative Data Market Summary

As per MRFR analysis, the Alternative Data Market Size was estimated at 6.69 (USD Billion) in 2023.The Alternative Data Market Industry is expected to grow from 7.51(USD Billion) in 2024 to 27 (USD Billion) by 2035. The Alternative Data Market CAGR (growth rate) is expected to be around 12.34% during the forecast period (2025 - 2035). The market is driven by the increasing demand for enhanced decision-making and the growth of the fintech sector, which relies heavily on alternative data for credit risk evaluation and fraud detection. Regulatory changes are also promoting the use of alternative data across various industries, further fueling market expansion.

Key Market Trends & Highlights

The Global Alternative Data Market is witnessing transformative trends driven by technological advancements and regulatory changes.

• Market Size in 2024: USD 7.51 Billion; expected to reach USD 27 Billion by 2035.
• Web Scraping Data projected to grow from USD 1.8 Billion in 2024 to USD 6.8 Billion by 2035.
• Fintech sector expected to exceed USD 300 Billion by 2030, increasing demand for alternative data solutions.
• North America to dominate with a market size of USD 3.2 Billion in 2024, rising to USD 12.34 Billion by 2035.

Market Size & Forecast

2023 Market Size: USD 6.69 Billion

2024 Market Size: USD 7.51 Billion

2035 Market Size: USD 27 Billion

CAGR (2025-2035): 12.34%

Largest Regional Market Share in 2024: North America.

Major Players

Key Companies include Bloomberg, Neudata, FactSet, AlphaSense, Signals Analytics, YipitData, Municibid, Civen Analytics, Refinitiv, Thinknum, DataLend, Quandl, Moody's Analytics, S and P Global, Battlefin.

Key Alternative Data Market Trends Highlighted

The Alternative Data Market is expanding rapidly, driven by rising demand for real-time and actionable insights in a variety of industries, including banking, retail, and technology. Businesses are rapidly understanding the importance of alternative data in making informed decisions, reducing risks, and identifying new possibilities. This movement mirrors a broader shift toward data-driven decision-making, in which businesses use non-traditional data sources such as social media signals, web scraping, satellite imaging, and transactional data to obtain a competitive edge. The Alternative Data Market offers several prospects, particularly for startups and innovative enterprises that can leverage developing technologies like artificial intelligence and machine learning.

These technologies can improve data processing and analysis, allowing for improved understanding of several data sources. Furthermore, as businesses continue to accept, integrate, and monetize alternative data, the opportunity for collaborations between data suppliers and end users will expand, boosting collaboration across industries. The developing regulatory context, which encourages openness and trust, has led to a significant surge in interest in alternative data in recent years. As organizations strive to enhance their data practices, regulatory agencies emphasize the importance of data compliance, encouraging businesses to seek credible and ethical data sources.

Furthermore, the growing usage of cloud-based solutions makes it simpler for enterprises throughout the world to access and evaluate alternative data at a lower cost. This seamless integration enables firms to compete more effectively in the global market while mitigating risks and increasing operational efficiency.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Alternative Data Market Drivers

Rising Demand for Data-Driven Decision Making

The Alternative Data Market Industry is experiencing significant growth driven by the rising demand for data-driven decision making. Various sectors, including finance, retail, and healthcare, are increasingly relying on alternative data to gain insights that traditional data sources may not provide. Research indicates that companies utilizing data analytics have seen a 126% increase in revenue compared to those that do not prioritize data-driven strategies.

Furthermore, the World Economic Forum has projected that the value of global data will reach 85 trillion USD by 2025, highlighting a transformative trend towards data reliance. Established organizations like Bloomberg and Goldman Sachs have actively begun integrating alternative data in their decision-making processes, further catalyzing this growth.

Technological Advancements in Data Collection

Advancements in technology have significantly enhanced the capacity for data collection and processing, which serves as a key driver for the Alternative Data Market Industry. The proliferation of Internet of Things (IoT) devices and sensor technologies has enabled organizations to gather vast amounts of real-time data, creating opportunities for analysis and actionable insights. For instance, a recent report from the United Nations indicates that the number of IoT devices is expected to exceed 50 billion globally by 2030.

Companies such as Cisco and IBM are at the forefront of adopting these technologies, thereby increasing the availability and reliability of alternative data, which in turn is expected to support market growth.

Increased Focus on Compliance and Risk Management

The Alternative Data Market Industry is being propelled by an increasing emphasis on compliance and risk management amidst regulatory changes. Financial institutions are under growing pressure to ensure compliance, and alternative data can provide deeper insights into creditworthiness and risk profiles. According to the Financial Stability Board, the global financial system has experienced increased scrutiny that led to compliance costs reaching approximately 270 billion USD in 2021.

Firms such as JPMorgan Chase are implementing alternative data strategies to better navigate these compliance landscapes while managing risks effectively, thus fostering market expansion.

Growing Importance of Consumer Insights

As businesses strive for more personalized offerings, the importance of consumer insights derived from alternative data is increasingly recognized. The Alternative Data Market Industry is benefiting from this trend, as companies are leveraging social media analytics, location data, and other digital footprints to understand consumer behavior better. Research from McKinsey suggests that organizations with a strong focus on consumer insights and personalization can boost their sales by 10-30%.

Prominent brands like Amazon and Netflix are leveraging alternative data to enhance customer experiences and drive engagement, thereby reinforcing the market's growth potential.

Alternative Data Market Segment Insights

Alternative Data Market Type Insights  

The Alternative Data Market is experiencing significant growth, driven by increasing demand for insights that help organizations make informed decisions. In 2024, the market is expected to reach a valuation of 7.51 USD Billion, setting a foundation for substantial growth leading to an anticipated value of 27.0 USD Billion by 2035. Within this expansive market, the Type segmentation plays a pivotal role, encompassing various forms of alternative data. Notably, Web Scraping Data is projected to have a valuation of 1.87 USD Billion in 2024, expected to rise to 6.78 USD Billion by 2035, demonstrating its utility in extracting actionable insights from web sources.

This type is crucial for businesses seeking real-time data, especially in sectors like retail and finance, where competitive intelligence is paramount. Geolocation Data holds a significant market position with a valuation of 1.65 USD Billion in 2024 and rising to 6.15 USD Billion in 2035; it allows companies to understand consumer behavior based on location, making it vital for marketing and operational strategies. The significance of Social Media Data is also noteworthy, valued at 2.15 USD Billion in 2024 and expected to expand to 7.8 USD Billion by 2035.

This type presents an opportunity for brands to gauge public sentiment and trends, establishing their dominance in brand management and customer engagement. Lastly, Transaction Data is valued at 2.84 USD Billion in 2024, reaching 6.27 USD Billion by 2035, highlighting its importance in understanding purchasing behaviors and trends, facilitating targeted marketing efforts. As organizations increasingly rely on data to enhance decision-making processes, the Alternative Data Market segmentation will continue to evolve, catering to the diverse needs of various industries, showcasing unique growth trajectories while driving overall market progress.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Alternative Data Market Application Insights  

The Alternative Data Market, particularly within the Application segment, is poised for remarkable development. In 2024, the market is expected to achieve a valuation of 7.51 USD Billion, reflecting a growing reliance on alternative data for various applications aimed at enhancing decision-making processes across industries. Investment Research stands out as a critical application, as firms increasingly utilize alternative data to gain insights into market trends and consumer behavior, thereby improving their investment strategies. Risk Management also plays a significant role, where organizations leverage alternative data to identify and mitigate potential risks in real time, ensuring a robust compliance framework.

Meanwhile, Marketing Analytics benefits from alternative data by enabling businesses to target customer segments more accurately and optimize marketing campaigns, driving better customer engagement. Lastly, in Corporate Strategy, alternative data is crucial for identifying growth opportunities and strategic partnerships, allowing companies to adapt swiftly to market changes. Given these insights, the Application segment of the Alternative Data Market is expected to be a vital driver of market growth, with industries increasingly recognizing the value of data-driven decision-making.

Alternative Data Market Data Source Insights  

The Alternative Data Market is projected to achieve a valuation of 7.51 USD Billion in 2024, reflecting a growing interest in diverse data sources that drive informed decision-making across various industries. Within this sector, the importance of Data Sources cannot be overstated, as they form the backbone of the information ecosystem, comprising Publicly Available Data, Private Data, User-Generated Data, and Third-Party Data. Publicly Available Data, sourced from governmental and institutional databases, plays a pivotal role in enhancing transparency and accessibility.

Private Data, collected from proprietary channels, provides valuable insights that can significantly influence market strategies. User-Generated Data captures personal experiences and feedback, making it crucial for businesses seeking a competitive edge through consumer engagement. Third-Party Data aggregates information from various external sources, allowing companies to enrich their understanding of market trends and consumer behaviors. As the Alternative Data Market continues to expand, these Data Sources will serve as key drivers of innovation and growth, offering opportunities for businesses to leverage data for strategic advantage.

The market's growth trajectory shows a promising future, with expectations of reaching 27.0 USD Billion by 2035, fueled by the increasing reliance on diverse data-driven insights in decision-making processes.

Alternative Data Market End User Insights  

The Alternative Data Market is experiencing notable growth, driven by varying end users that leverage alternative data for enhanced decision-making. By 2024, the market is expected to be valued at 7.51 USD Billion, reflecting the increasing reliance on data analytics in sectors like finance, consulting, retail, and technology. Financial Institutions are major players in this market, using alternative data to assess credit risks and make investment decisions, thus significantly shaping the industry's dynamics. Consulting Firms leverage this data to provide actionable insights to their clients, enhancing their strategic approaches.

Retail Enterprises utilize alternative data to comprehend consumer behavior and optimize inventory management, enabling them to stay competitive in a rapidly changing landscape. Additionally, Technology Companies are innovating by integrating alternative data into their offerings, thus broadening the scope of solutions they provide. The growing emphasis on data-driven strategies and the demand for more accurate analytics create ample opportunities in each of these segments, contributing to the overall market growth trajectory. The Alternative Data Market segmentation reflects a diverse ecosystem where each user type plays a critical role in driving advancements and enhancing operational efficiencies within their respective industries.

Alternative Data Market Regional Insights  

The Regional segmentation of the Alternative Data Market reveals significant opportunities and growth potential across various regions. In 2024, North America holds a dominant position with a valuation of 3.0 USD Billion, expected to rise to 11.0 USD Billion by 2035, largely driven by advanced technology adoption and robust data analytics frameworks. Europe follows as the second largest region, accounting for 2.0 USD Billion in 2024 and anticipated to reach 8.0 USD Billion by 2035, propelled by increasing regulations and the demand for data transparency.

South America represents a smaller market segment, valued at 0.5 USD Billion in 2024 and projected to grow to 2.0 USD Billion by 2035, while Asia Pacific displays a steady growth trajectory from 1.5 USD Billion to 4.5 USD Billion over the same period, supported by rapid digital transformation initiatives. The Middle East and Africa market, while relatively smaller at 0.51 USD Billion currently, is expected to see growth to 1.5 USD Billion as investments in technology and data analytics rise. These figures highlight the varying levels of market maturity and potential in the Alternative Data Market, reflecting diverse economic conditions and technological advancements across regions.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Alternative Data Market Key Players and Competitive Insights

The Alternative Data Market has become increasingly competitive as organizations seek additional tools and insights to enhance their decision-making processes. Alternative data refers to non-traditional sources of information used to supplement conventional data for investment evaluation, risk assessment, and market analysis. As financial institutions, hedge funds, and corporations recognize the value of alternative data in driving competitive advantages, a multitude of firms have emerged, offering diverse data sets ranging from satellite imagery to social media sentiment analysis. The landscape is marked by advanced analytics capabilities, innovative data collection methods, and a growing ecosystem of partnerships aimed at providing enhanced insights, which have allowed companies to adapt swiftly to market changes and emerging trends. Understanding the competitive dynamics of this market involves analyzing not only the technologies used but also the strategic moves made by key players to capture market share and meet the evolving demands of clients.

Refinitiv stands out prominently within the Alternative Data Market due to its robust data offerings and advanced analytics capabilities. The company has established a strong presence through its suite of financial market products that cater to various sectors, including investment management and risk assessment. Refinitiv’s strength lies in its ability to integrate alternative data from diverse sources, enabling clients to derive deeper insights and make informed investment decisions. The company invests heavily in technology, particularly in machine learning and data analytics, to enhance the value of its offerings. Furthermore, Refinitiv's commitment to maintaining high standards of data quality and security has fostered trust among its client base, ensuring a strong competitive position in the marketplace. The strategic focus on building collaborative solutions that address specific client needs has also reinforced its market presence against competitors.

Bloomberg is another key player in the Alternative Data Market, known for its extensive financial service offerings, including market analytics, investment research, and data management solutions. The company's Bloomberg Terminal is a leading tool for finance professionals, providing access to a variety of alternative data sets, tailored analytics, and real-time market information. Bloomberg's strength is further emphasized by its continuous investment in technology and innovation, allowing it to stay ahead in leveraging data from emerging trends, such as environmental, social, and governance (ESG) factors. The firm's commitment to enhancing its alternative data capabilities is also reflected in its strategic mergers and acquisitions, which have helped expand its portfolio and enhance the quality of data offerings. By partnering with technology firms and acquiring specialized data providers, Bloomberg solidifies its market presence and ensures it delivers comprehensive and actionable insights crucial for global clients navigating complex market environments.

Key Companies in the Alternative Data Market Include

• Refinitiv


• Bloomberg


• S&P Global


• IHS Markit


• Balyasny Asset Management


• QuantConnect


• FactSet


• Man AHL


• Hudson River Trading


• AQR Capital Management


• Vanguard


• Two Sigma


• Bridgewater Associates


• Goldman Sachs


• Morgan Stanley

Alternative Data Market Industry Developments

The Alternative Data Market has recently seen a surge in interest and activity, particularly in the realms of financial services and investment strategies. Major companies such as Refinitiv, Bloomberg, and S&P Global are expanding their offerings to include more varied data sets that cater to the demand for enhanced analytics. In September 2023, AQR Capital Management announced a collaboration with QuantConnect to leverage advanced data for systematic trading strategies. Additionally, in August 2023, Goldman Sachs completed its acquisition of a data analytics firm, further indicating a trend of consolidation in the market.

The valuations of firms involved in the alternative data space, including Hudson River Trading and Man AHL, have shown significant growth and are positively impacting their market position. Over the past years, the acquisition of IHS Markit by S&P Global in February 2020 has set a precedent for similar mergers, highlighting the strategic importance of data integration. As demand for alternative data rises among investment firms and asset managers, the market is anticipated to continue evolving rapidly in response to technological advancements and changing consumer needs.

Alternative Data Market Segmentation Insights

Alternative Data Market Type Outlook

• Web Scraping Data


• Geolocation Data


• Social Media Data


• Transaction Data

Alternative Data Market Application Outlook

• Investment Research


• Risk Management


• Marketing Analytics


• Corporate Strategy

Alternative Data Market Data Source Outlook

• Publicly Available Data


• Private Data


• User-Generated Data


• Third-Party Data

Alternative Data Market End User Outlook

• Financial Institutions


• Consulting Firms


• Retail Enterprises


• Technology Companies

Alternative Data Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa

Report Attribute/Metric	Details
Market Size 2023	6.69(USD Billion)
Market Size 2024	7.51(USD Billion)
Market Size 2035	27.0(USD Billion)
Compound Annual Growth Rate (CAGR)	12.34% (2025 - 2035)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Base Year	2024
Market Forecast Period	2025 - 2035
Historical Data	2019 - 2024
Market Forecast Units	USD Billion
Key Companies Profiled	Refinitiv, Bloomberg, S&P Global, IHS Markit, Balyasny Asset Management, QuantConnect, FactSet, Man AHL, Hudson River Trading, AQR Capital Management, Vanguard, Two Sigma, Bridgewater Associates, Goldman Sachs, Morgan Stanley
Segments Covered	Type, Application, Data Source, End User, Regional
Key Market Opportunities	Increased demand for data analytics, Growth in AI integration, Rising need for investment insights, Expansion of regulatory frameworks, Enhanced focus on personalized marketing
Key Market Dynamics	increasing data sources, rising demand for insights, advanced analytics adoption, regulatory compliance challenges, growing competition among providers
Countries Covered	North America, Europe, APAC, South America, MEA