Alternative Data Market : Exploring Growth Drivers and Overcoming Challenges to Reach US$ 118,112.0 Million by 2032

According to the latest report by IMARC Group "Alternative Data Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", The global alternative data market size reached US$ 6,433.2 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 118,112.0 Million by 2032, exhibiting a growth rate (CAGR) of 28.6% during 2024-2032.

Alternative data refers to non-traditional and unconventional sources of information that can provide valuable insights into various aspects of the market. These sources go beyond the traditional financial reports and publicly available data, encompassing a wide range of information from social media activity and web scraping to satellite imagery and sensor data. One of the key attributes of alternative data is its ability to offer unique and real-time insights that can be leveraged by businesses and investors to make informed decisions. For instance, analyzing social media sentiment around a particular product can provide early indicators of consumer preferences and trends. Similarly, tracking foot traffic data through mobile apps can offer valuable insights into the performance of retail locations.

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Alternative Data Market Trends:

The digital age has ushered in an unprecedented era of data generation. The proliferation of smartphones, IoT devices, and online platforms has led to a massive increase in data creation. This data deluge has created a demand for alternative data sources that can provide unique insights beyond traditional datasets. Additionally, companies are increasingly recognizing the competitive advantage that alternative data can offer. Access to unique and timely insights can give businesses an edge in understanding consumer behavior, market trends, and emerging risks, enabling more informed decision-making. Other than this, in the world of finance, alternative data is sought after by hedge funds and asset managers seeking to generate alpha, or superior returns. Non-traditional data sources such as satellite imagery, credit card transaction data, and social media sentiment analysis can provide investment professionals with a deeper understanding of market dynamics. Besides this, the regulatory landscape is evolving, with stricter data privacy regulations such as GDPR and CCPA coming into play. Alternative data sources are seen as a way to navigate these regulations while still gaining valuable insights, as they often involve anonymized or aggregated data that can comply with privacy rules. Furthermore, advancements in data analytics, machine learning, and artificial intelligence have made it easier to process and derive actionable insights from alternative data sources. These technologies have lowered the barriers to entry for businesses looking to leverage these data sets.

Report Segmentation:

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
Others

Breakup by End Use Industry:

Transportation and Logistics
BFSI
Retail and eCommerce
Energy and Utilities
IT and Telecommunications
Media and Entertainment
Others

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Competitive Landscape with Key Player:

1010Data Inc. (Advance Communication Corp.)
Advan Research Corporation
Dataminr Inc.
Eagle Alpha
M Science
Nasdaq Inc.
Preqin
RavenPack
The Earnest Research Company
Thinknum Inc.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.