Dublin, Jan. 10, 2025 (GLOBE NEWSWIRE) — The “Alternative Data – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for alternative data was valued at USD 7.0 billion in 2023 and is projected to reach USD 98.8 billion by 2030, growing at a CAGR of 46.0% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends. drivers and forecasts, helping you make informed business decisions.
Growth in the alternative data market is driven by several factors. The increasing complexity and volume of global data generated every day requires more sophisticated tools and methods for analysis, making alternative data sources invaluable. The ongoing digital transformation of the financial sector encourages the adoption of data-driven investment practices, further increasing demand.
Additionally, regulatory changes emphasizing transparency and accuracy in reporting encourage firms to diversify their data sources to ensure consistency and depth in their analyses. As businesses across industries strive to outperform competitors and innovate, reliance on alternative data is likely to increase, ensuring its importance and expansion in the global marketplace.
What is alternative data and why is it gaining popularity?
Alternative data refers to non-traditional data sources that inform investment decisions, beyond standard financial and economic indicators. This data can include satellite imagery, social media sentiment, credit card transaction data, mobile app usage and even weather data. As financial markets become more competitive, investors and financial institutions are increasingly relying on alternative data to gain an edge, providing deeper insights and predictive power about market trends and consumer behaviors that are not available from traditional sources.
How are technological advances improving the alternative use of data?
Technological advances, particularly in big data analytics, artificial intelligence, and machine learning, are dramatically increasing the usability and impact of alternative data. These technologies allow efficient processing and analysis of large and complex data sets, turning raw data into actionable insights. As a result, companies can predict market movements, consumer trends and potential investment outcomes with greater accuracy, thereby optimizing their strategies based on data-driven decisions.
What roles does alternative data play across industries?
Originally popular with hedge funds and asset management firms, the use of alternative data has now penetrated various sectors, including retail, real estate and technology. Retail companies use it to track foot traffic and consumer preferences, real estate firms analyze satellite imagery to estimate property values and developments, and tech companies monitor software adoption rates through web scraping. This widespread adoption underscores the versatility and value of alternative data in providing competitive advantages in various market segments.
Key insights:
- Market Growth: Understand the significant growth trajectory of the credit and debit card transaction data segment, which is expected to reach $14.9 billion by 2030 at a CAGR of 40.8%. The Social Data and Sentiments segment is also set to grow at 56.2% CAGR during the analysis period.
- Regional Analysis: Gain insights into the US market, which was valued at USD 1.9 billion in 2023 and China, is projected to grow at an impressive CAGR of 55.6% to reach USD 25.9 billion by 2030. Discover the growth trends in other key regions, including Japan, Canada, Germany and Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in USD million from 2023 to 2030.
- In-depth regional analysis: Detailed insights into key markets, including the US, China, Japan, Canada, Europe, Asia-Pacific, Latin America, the Middle East and Africa.
- Company Profiles: Coverage of major players such as 1010data, Inc., Advan Research Corporation, Convergence Inc., and more.
- Complementary updates: Get free report updates for a year to keep you informed of the latest market developments.
Main attributes:
| The report attribute | The details |
| Number of pages | 292 |
| Forecast period | 2023 – 2030 |
| Estimated market value (USD) in 2023 | 7 billion dollars |
| Projected market value (USD) by 2030 | 98.8 billion dollars |
| Compound Annual Growth Rate | 46.0% |
| Regions covered | global |
Main topics covered:
MARKET SUMMARY
- Influencer Market Insights
- World Market Trajectories
- Global economic update
- Alternate Data – Top Global Competitors Market Share Percentage in 2024 (E)
- Competitive market presence – strong/active/country/irrelevant for worldwide players in 2024 (E)
TRENDS AND INDICATORS
- Growing interest in non-traditional data sources: expands the addressable market for alternative data
- Advances in Data Processing Technologies: Drive growth in complex data analysis
- Increased use of machine learning: Increases the predictive power of alternative datasets
- Demand from hedge funds and institutional investors: driving adoption in financial markets
- Expanding Applications in Retail and E-Commerce: Strengthening the Business Case for Customer Insight Data
- Display real-time data streams: Accelerate the demand for timely and actionable insights
- Increasing competitive pressures: drives firms to seek unique inputs for advantage over rivals
- Enhanced data visualization tools: Improves accessibility and usability of complex data sets
- Growing need for improved risk management: Powering market growth through predictive analytics
- Expanding IoT and connected devices: Generates large new data sets
- Blockchain for data security: Creates opportunities for secure data sharing
FOCUS ON SELECTED PLAYERS (Total 37 featured)
- 1010data, Inc.
- Advan Research Corporation
- Convergence Inc.
- Datemin
- Alpha Eagle
- Serious research
- geoLOGIC systems ltd.
- Geotab, Inc.
- M Science
- Preqi
- RavenPack
- Thinknum alternative data
- UBS Evidence Lab
- Vista Equity Partners Management, LLC
- Yipit LLC dba YipitData
For more information about this report, visit https://www.researchandmarkets.com/r/dffa68
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