Major alternative data market participants include Advan Research Corporation, Dataminr Inc., Eagle Alpha Ltd., M Science LLC, and UBS Evidence Lab.
Selbyville, Delaware, Oct. 04, 2023 (GLOBE NEWSWIRE) —
The alternative data market is estimated to surpass USD 42 billion by 2032, as reported in a research study by Global Market Insights Inc.
The growing prominence of internet, social media, e-commerce, and the IoT beyond traditional financial and economic indicators will drive the market growth. Rising advancements in technology, including big data analytics and AI, have made it feasible to process and extract valuable insights from massive volumes of data. The granular and real-time nature of alternative data offers deeper understanding of various industries and markets to offer competitive advantages. The surging focus of major industry players on innovative product developments to cater to the rising need for alternative data solutions is also expected to fuel the industry demand.
For instance, in September 2022, Thinknum announced plans to merge data from Thinknum, Similarweb, SensorTower, Pathmatics, and Caplight, with sophisticated infrastructure platform Lagoon to serve as an alternative source of information for private investment in market research, deal sourcing, due diligence, and origination, and post-acquisition strategies.
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Alternative data market from the credit and debit card transactions type segment is set to witness substantial expansion through 2032. The growth can be attributed to the increasing inclination of customers towards cashless transaction options, including credit and debit cards. For instance, in 2022, 54.8 billion credit card transactions were made in the U.S. With businesses and investors increasingly seeking more comprehensive insights into consumer behavior and economic trends, credit and debit card transaction data have emerged as valuable sources of information. Additionally, the advancements in data analytics and AI have enabled businesses to extract actionable intelligence from these data sources, thereby driving market revenue.
Alternative data market from the IT and telecom industry vertical segment is likely to propel at notable CAGR from 2023 to 2032. The increasing reliance on cloud services, IoT devices, and mobile technologies has led to the proliferation of data sources. Moreover, as investors are leveraging IT and telecom data to make informed decisions, especially in technology-related investments, market players are introducing innovative solutions, further boosting the market expansion. For instance, in April 2023, Finastra, a global financial software tool provider, collaborated with Alygne, a platform that delivers customized ESG alternative data, to assist asset managers worldwide in making informed ESG investments.
Asia Pacific alternative data market is projected to be worth USD 11.4 billion by the end of 2032, credited to the strong growth of e-commerce and rising digital transactions in the region. The rapid digital transformation has led to the surge in online consumer activities and adoption of emerging technologies, such as IoT and mobile payment systems. For instance, in 2021, the highest number of real-time transactions were conducted in India, reaching 48 billion.
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Additionally, investors and businesses in Asia Pacific are increasingly recognizing the value of alternative data in forming investment strategies, industry expansion, and risk assessment, further offering potential growth opportunities to the regional industry players. To cite an instance, in May 2023, ExtractAlpha, a Hong Kong-based provider of investment research and data analytics, unveiled new alternative datasets to assist investors in making more informed decisions while increasing alpha creation.
Some major companies operating in the alternative data market are Preqin Ltd., 7Park Data Inc., Advan Research Corporation, Convergence Inc., UBS Evidence Lab, Dataminr Inc., and YipitData. These firms are diligently working on innovation strategies, expansion of data sources, and enhancement of analytics to thrive in the competitive landscape for effectively meeting the diverse industry needs. To cite an instance, in September 2023, Bloomberg launched ALTD GO>, a new alternative data feature on the Bloomberg Terminal to allow users to receive an early read on business performance alongside the classic basic data.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Alternative data market 360º synopsis, 2018 – 2032
2.2 Regional trends
2.3 Data type trends
2.4 Industry vertical trends
2.5 End-use trends
Chapter 3 Alternative Data Market Industry Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Rising need for data-driven decision making
3.10.1.2 The rapidly evolving technologies
3.10.1.3 Rising adoption of data analytics for data excavation
3.10.2 Industry pitfalls & challenges
3.10.2.1 Data privacy and compliance
3.10.2.2 Data bias and representativeness
3.11 Profit margin analysis
3.12 Vendor matrix analysis
3.13 Growth potential analysis
3.14 Porter’s analysis
3.15 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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