{"id":508338,"date":"2020-09-24T07:38:01","date_gmt":"2020-09-24T07:38:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=508338"},"modified":"2020-09-24T07:38:01","modified_gmt":"2020-09-24T07:38:01","slug":"alternative-data-market-size-projected-to-raise-at-usd-1735-billion-by-2027-grand-view-research-inc","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/alternative-data-market-size-projected-to-raise-at-usd-1735-billion-by-2027-grand-view-research-inc_508338.html","title":{"rendered":"Alternative Data Market Size Projected To Raise At USD 17.35 Billion By 2027 : Grand View Research Inc."},"content":{"rendered":"
\"Alternative<\/a><\/p>\n
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Grand View Research, Inc. – Market Research And Consulting.<\/div>\n<\/div>\n<\/div>\n
According to report published by Grand View Research, The global alternative data market size was valued at USD 1.06 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 40.1% from 2020 to 2027.<\/div>\n

Alternative Data Market Growth & Trends<\/strong><\/p>\n

The global alternative data market<\/strong> <\/a>size is anticipated to reach USD 17.35 billion by 2027, expanding at a CAGR of 40.1% from 2020 to 2027, according to a new report by Grand View Research, Inc. The increasing emphasis on gaining alpha from hedge funds is expected to boost the demand for alternative data. The asset managers from hedge funds, mutual funds, private equity funds, pension funds, unit trusts, life insurance companies, and other BFSI entities are highly inclining to use alternative data to derive predictive insights. Moreover, the use of alternative data for risk management processes is also expected to drive the market growth.<\/p>\n

Nowadays, data sources are not limited to transactions, and email receipts as companies are finding ways to extract data from various emerging sources. These include social media, web traffic, mobile devices, sensors, IoT-based devices, satellites, and e-commerce portals. The data analysts utilize this data in correlation with each other to derive various hidden patterns and insights. However, the data collected from some of these sources conflict with privacy regulations such as the California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR). Thus, the data aggregators and end-users need regulatory compliance, which ensures their datasets are free from Personal Identifiable Information (PII).<\/p>\n

North America dominated the market in 2019 with a market share of more than 33% and is estimated to continue dominating the global market over the forecast period of 2020 to 2027. The emerging presence of numerous alternative data providers in the U.S is the major driving factor. Companies such as Advan, Eagle Alpha, M Science, and YipitData are providing various types of alternative data, including credit and debit card transactions, email receipts, geo-location (foot traffic) records, mobile usage, satellite, weather data, social and sentiment data, and web scraped data. The acquisitions and partnership initiatives from companies such as Nasdaq and S&P Global Platts is further expected to fuel the regional market growth. On the other hand, Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. This is due to rising use-cases of alternative data in BFSI, retail, automotive, and telecommunication industries. The use of alternative data for investments and risk assessment, particularly from companies in emerging economies, such as India and China, is expected to boost the regional market growth.<\/p>\n

\"The<\/strong><\/p>\n

Request a sample copy of the Alternative Data Market Research Report @ https:\/\/www.grandviewresearch.com\/industry-analysis\/alternative-data-market\/request\/rs1<\/a><\/strong><\/p>\n

Alternative Data Market Report Highlights<\/strong><\/p>\n