Ottawa, Aug. 19, 2022 (GLOBE NEWSWIRE) -- Recently Announced Report on “Alternative Data Market (By Data Type, By End User, By Industry) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030”.
Information acquired from non-conventional sources is known as alternative data. Analysis of alternative data can yield insights that go beyond what can be learned from an industry's standard data sources. The surge in interest in alternative data among investors is a result of the expanding significance of these non-traditional data sources in assessing the health of an organization or the return on investment.
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Alternative data is supplemental financial information that can be used to make investment decisions independently of government or corporate sources. Alternative data can provide investors with a complete view of an investment opportunity when combined with information from standard data sources.
Alternative data examples include unstructured data arising from business or individual activity, public records like non-farm payroll, data from mobile devices, sensors from the Internet of Things (IoT), point of sale transactions, website data, online browsing activity, product reviews, credit card transactions, internet activity, app store analytics, ESG data, satellite imagery data, and sentiment data from social media.
The enormous increase in the variety of alternative information sources over the past ten years is one of the primary factors credited with market expansion. The two most frequent sources are web scraping and financial transactions, although newer sources including mobile phones, social media, and others are becoming more and more prevalent.
Key Takeaways:
- Based on end user, the hedge fund operators segment has reached 70.5% revenue share in 2021.
- The retail companies segment is expected to reach at a remarkable CAGR from 2022 to 2030.
- Based on industry, BFSI segment has generated 16% market share in 2021.
- The retail industry segment is expected to reach at a CAGR of 56.5% from 2022 to 2030.
- North America region has exhibited 68.5% revenue share in 2021.
Report Highlights
- On the basis of data type, the credit and debit card transactions segment is the leading segment and is expected to make the largest contribution to the alternative data market. This significant proportion can be attributed to the fact that investors have a strong demand for this kind of data and that there are many sources of credit card transaction data available. Due to the enhanced capabilities of the data providers, which include classifying client expenditure based on gender, age, seller, area, and other criteria, this category is also anticipated to experience the fastest growth rate over the course of the projected year.
- On the basis of industry, the market for alternative data, the Banking, Financial Services, and Insurance (BFSI) sector is in the lead. The rise in demand for insightful data from various BFSI organizations, such as hedge funds, mutual funds, private equity funds, pension funds, unit trusts, and life insurance firms, can be attributed to the expansion. These creatures actively work to increase their alpha by making use of the sources' occult forecasting powers.
Regional Snapshots
North America held major share in the market and is likely to remain dominant throughout the forecast period in alternative data market. The large number of market participants, including Advan, Eagle Alpha, M Science, and UBS Evidence Lab, is said to be responsible for the region's significant market share.
A large market share is also produced by the country's early acceptance of alternative data from several industrial verticals. More than 70% of asset managers in the U.S. currently lean toward using alternative data in their investment process. In addition, it is anticipated that corporate partnerships and acquisitions from Nasdaq and S&P Global Platts will drive regional market expansion. These factors are making it prominent among other regions.
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Scope of the Report
| Report Attributes | Details |
| Market Size in 2022 | USD 4.49 Billion |
| Revenue Forecast by 2030 | USD 149.1 Billion |
| CAGR | 54.92% from 2022 to 2030 |
| Largest Market | North America |
| Fastest Growing Region | Asia Pacific |
| Base Year | 2021 |
| Forecast Year | 2022 to 2030 |
| Key Players | Advan Research Corporation, Preqin Ltd., 7Park Data Inc., Convergence Inc., UBS Evidence Lab, YipitData, Dataminr Inc., M Science LLC, Eagle Alpha Ltd., Geotab Inc., Jumpshot, JWN Energy, Ravenpack International SL, The Earnest Research Company, Thinknum Inc., Talkingdata |
Market Dynamics
Drivers
The increasing expansion of expenditures in smart city projects across several nations is anticipated to promote the alternative data market. Information and communication technology are used in smart cities to effectively manage and run municipal services including water supply, law enforcement, and transportation systems. Big data has several uses, including in the transportation, public safety, local finances, and other areas. In order to determine which regions are likely to serve as crime hotspots and forecast the precise crime locations, smart cities also use predictive, big-data analytics.
Alternative data, mean the undiscovered information that is not contained in the conventional sources, including SEC filings, financial statements, press releases, and management presentations. It is compiled from a variety of sources, including social media, e-commerce portals, public records, web traffic, mobile devices, sensors, satellites, and more.
Due to the strong demand and the abundance of credit card transaction data providers, credit and debit card transactions have increased. Due to the data providers' cutting-edge capabilities, such as the ability to group client expenditure by area, seller, seller type, and other factors, this is also anticipated to fuel the industry. The businesses are combining transaction data with various sorts of data to uncover hidden consumer spending trends, enabling investors to fund successful businesses.
Restraints
Alternative data, which is still in its infancy, can present a number of issues. Historical records are few, and not all alternative data is available to the general public. Therefore, it is crucial to have a clear grasp of the sources of information and their usage restrictions. Data interpretation may provide a hurdle for businesses. It can be difficult to distinguish between and evaluate the quality of each source in order to select the best one when there are so many available. Any tampering with this data can lead to poor decisions and serious harm to the business.
Opportunities
For financial services companies and significant institutional investors, alternative data has swiftly flooded the IT market. AI enables the release of new sources of corporate and investment information, including social media data, contact center audio logs, satellite imagery, and employee sentiment. Hence, IoT advancements would play a major role in alternative data market in coming years.
Challenges
The market's expansion may be hampered by a lack of accurate information of each source's private legal terms. This involves being aware of the information's origins, the constraints on its application, and the proper and moral handling of its storage. Amount of data collected is huge in nature and the authenticity of alternative data may contain false information which would lead to hamper the alternative data market.
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Recent Developments
- Exabel, the premier alternative data aggregation platform and adviser, and Eagle Alpha, the alternative data analytics platform for investment teams, are pleased to announce their new strategic alliance in April 2022. One of the main challenges faced by consumers of alternative data will be eliminated due to the collaboration, which will allow the investing clients of both organizations to quickly and easily evaluate several new alternative datasets.
Market Segmentation
By Data Type
- Credit & Debit Card Transactions
- Email Receipts
- Geo-location (Foot Traffic) Records
- Mobile Application Usage
- Satellite & Weather Data
- Social & Sentiment Data
- Web Scraped Data
- Web Traffic
- Other Data Types
By Industry
- Automotive
- BFSI
- Energy
- Industrial
- IT & Telecommunications
- Media & Entertainment
- Real Estate & Construction
- Retail
- Transportation & Logistics
- Other Industries
By End User
- Hedge Fund Operators
- Investment Institutions
- Retail Companies
- Other End-users
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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