Overview and Scope
Alternative data is characterized as non-traditional data that can give an indicator of a firm’s future performance other than conventional sources such as corporate filings, analyst predictions, and management instructions. This information can be utilized in pre-trade investment evaluation as well as to assist investors in monitoring the health of a firm, industry, or nation.
Sizing and Forecast
The alternative data market size has grown exponentially in recent years. It will grow from $4.67 billion in 2023 to $6.72 billion in 2024 at a compound annual growth rate (CAGR) of 44.0%. The growth in the historic period can be attributed to increase in rising penetration of e-commerce, strong economic growth in emerging markets, increased internet penetration and increased availability of mobile devices.
The alternative data market size is expected to see exponential growth in the next few years. It will grow to $26.28 billion in 2028 at a compound annual growth rate (CAGR) of 40.6%. The growth in the forecast period can be attributed to increased numbers of smart cities, increase in internet penetration, increasing adoption of 5g networks, favorable government initiatives and growing interest in stock trading. Major trends in the forecast period include integrating artificial intelligence (ai), establishing collaborations with research institutions and established companies, launching next-generation platforms and investing in edge computing solutions.
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Segmentation & Regional Insights
The alternative data market covered in this report is segmented –
1) By Data Type: 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, Web traffic, Other Data Type.
2) By Industry: Automotive, BFSI, Energy, Industrial, IT and Telecommunications, Media and Entertainment, Real Estate and Construction, Retail, Transportation and Logistics, Other Industries.
North America was the largest region in the alternative data market in 2023. The regions covered in the alternative data market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing adoption of 5G networks is expected to drive the alternative data market in the forecast period. 5G networks would accelerate the uptake of alternative data applications and services and enable new use cases. The increased bandwidth offered by 5G allows more data to be sent during a given period, and the lower latency allows data to reach its destination faster. These networks provide increased coverage which supports multiple network topologies allowing alternative data to communicate easily. 5G will also lead to an increase in data traffic, not only from smartphones but also Internet-of-Things (IoT) enabled devices. According to Ericsson’s latest Mobility Report Q2 2021, the number of worldwide 5G smartphone subscriptions in 2021 was forecast to increase to 600 million, a three-fold increase of the 2020 total. By 2022, 5G subscriptions are expected to surpass the one-billion mark, thus driving demand for alternative data.
Key Industry Players
Major companies operating in the alternative data market report are Ravenpack International SL, 1010data, Inc, Vortexa Ltd., Eagle Alpha Ltd., Audit Analytics,Thinknum Inc., Thasos Group, Yewno, Inc., Advan Research Corporation, Exante Data, LLC., Eoitek,, Sam Technology, WakeData, Oracle, Microsoft, IBM, SAP, Plaxonic, Teradata, Amazon Web Services, Quiver Quantitative, S&P Global, AlphaSense, Kantar, Quandl, InfoTrie, Running Alpha, Unity, Maxilect, Caretta, Exceed Team, Quexopa, Inventale, Accenture Analytics, Tableu Software, Deep Data Science, Experion Technologies, Clariba Consulting, Nice Software solutions, Sigma Data Systems, Preqin Ltd
The alternative data market report table of contents includes:
1. Executive Summary
2. Alternative Data Market Characteristics
3. Alternative Data Market Trends And Strategies
4. Alternative Data Market – Macro Economic Scenario
5. Global Alternative Data Market Size and Growth
…..
32. Global Alternative Data Market Competitive Benchmarking
33. Global Alternative Data Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Alternative Data Market
35. Alternative Data Market Future Outlook and Potential Analysis
36. Appendix
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