IMARC Group has recently released a new research study titled “Alternative Data Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the Alternative Data industry?
The global alternative data market size reached US$ 4,232.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 52,197.1 Million by 2028, exhibiting a growth rate (CAGR) of 50.9% during 2023-2028.
What is Alternative Data?
Alternative data, or alt-data, refers to the data and information about financial instruments that are collected from traditional sources such as SEC filings, financial statements, press releases, and management presentations. Alt data facilitates investors to evaluate their investment opportunities and obtain more accurate, faster and granular insights and metrics regarding the performance of an organization.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What are the major market drivers in the Alternative Data Market?
The global alternative data market is primarily driven by the increasing alternative data sources, such as mobile devices, social media, and IoT-enabled devices. Various companies are expanding their offerings by gathering data from such sources, propelling the market growth. Alt data is mostly used by financial entities like banks, hedge funds, mutual funds, and insurance organizations to formulate strategic plans using analytics platforms, fluid data architecture, data science and testing tools. Furthermore, the integration of connected devices with artificial intelligence (AI), machine learning (ML) and natural language processing (NLP) for analyzing hidden patterns in data is also positively influencing the market growth.
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The report has segmented the market into the following categories:
Breakup by Data Type:
- Mobile Application Usage
- Credit and Debit Card Transactions
- Email Receipts
- Geo-location (Foot Traffic) Records
- Satellite & Weather Data
- Social and Sentiment Data
- Web Scraped Data
- Web Traffic
Breakup by End Use Industry:
- Transportation and Logistics
- Retail and eCommerce
- Energy and Utilities
- IT and Telecommunications
- Media and Entertainment
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
List of Major Key Players:
- 1010Data Inc. (Advance Communication Corp.)
- Advan Research Corporation
- Dataminr Inc.
- Eagle Alpha
- M Science
- Nasdaq Inc.
- The Earnest Research Company
- Thinknum Inc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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