Global Alternative Data Market

Alternative Data Market Size, Share, Growth Analysis, By Data Type (Credit & Debit Card Transactions, Social & Sentiment Data), By Industry (BFSI, IT & Telecommunication), By End-user Outlook (Hedge Fund Operators, Investment Institutions, Retail Companies, Other End-users), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45C2087 | Region: Global | Published Date: January, 2025
Pages: 187 | Tables: 91 | Figures: 71

Alternative Data Market Dynamics

Drivers

  • Growing Application of Alternate Data in Hedge Funds

Hedge funds provide additional demand and are expected to further accelerate market growth. Over half of hedge fund managers use it now, as they create outperformance and enhance risk management processes for a competitive edge. Alternative data accessed by hedge fund managers consists of data mined from social networks, e-commerce sites, public records, traffic on the web, mobile devices, sensors and satellites.

  • High Volume Data Collection

With the changing regulatory environment that governs acquiring data, using data and sharing data, sourcing of data has been evolving ever since. Possibly the most obvious consumer proposition behind growing demand is the immense allure of data as a tool for predicting sales and also providing economic indicators that might foreshadow future buying intentions. his has spurred demand to use alternative data analysis tools on credit card transaction data.

Restraints

  • Data Interpretation Issues

As we continue to undergo exponential growth in the generation of high-volume heterogeneous data, we continue to compound heterogeneity and its associated complexity while the process of accurate high-dimensional evaluation becomes ever more challenging. However, the nature of data generated during life science research is highly complex and difficult to manage; this complexity in turn expected to restrain the growth of the market.

  • Low Degree of Data Accuracy

Interpretation of the data might be an obstacle for enterprises. With so many sources out there, it can be difficult to tell distinguish between reliable and good sources from bad unreliable ones. In case the incorrect data is collected from unreliable sources it can lead to wrong analysis thus impacting strategics adopted by the company in tern impacting the company substantially in the long run.

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FAQs

Global Alternative Data Market size was valued at USD 10.18 Billion in 2023 and is poised to grow from USD 14.79 Billion in 2025 to USD 292.59 Billion by 2032, growing at a CAGR of 45.23 % in the forecast period (2025-2032).

The alternative data industry is expected to witness a high growth phase in the near future. The market is quite fragmented, with many small-scale companies and start-ups. In order to gain competitive advantage, the key market players are also focusing on achieving optimum accuracy in data sets and developing premium quality and high-value datasets through Research and Development (R&D) Studies by constantly innovating themselves. With respect to many of the types of data considered, such as sentimental data, footprint data, transaction data and others, we expect the threat of substitutes of alternative data would be low since a direct alternative in the market does not exist. Also, the web scraped and public domain dataset/verbiage like Annual reports, financials, etc., are turning out to be obsolete for better decision making as strategy managers start venturing toward alternative data to frame business strategies. '1010Data', 'Advan', 'Dataminr', 'Earnest Research', 'M Science', 'Preqin', 'RavenPack', 'Thinknum Alternative Data', 'UBS Evidence Lab', 'YipitData ', 'Beijing Tendcloud Tianxia Technology ', 'Convergence ', 'Geotab Inc.', 'Intrinio ', 'Japan Exchange Group '

Growing Application of Alternate Data in Hedge Funds

Implementation of Technology to Handle Large Volume Data: Bioinformatics tools allow the identification of new biomarkers based on changes in human physiology highlighted by Alternative Data results. Biomarkers have utility for in-vitro diagnostics, environmental toxicology screening and drug discovery and development platform methods. Over the past decade, the omics revolution has amplified Alternative Data usages in biomedical fields.

North America is dominating the market due to increasing adoption of alternative data, resulting in the expansion of alternative data market size. The sizeable market share of the region is attributed to a number of market players such as Advan, Eagle Alpha, M Science and UBS Evidence Lab. This factor along with the early adoption of alternative data from range of industry verticals makes this nation most prominent holder in market. Today, over 70% of American asset managers want to include alternative data in their investment strategy. Business alliances and purchases from Nasdaq and S&P Global Platts will also help spur the growth of the regional market. These are raising it above otherwise competitive regions.

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Global Alternative Data Market

Report ID: SQMIG45C2087

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