Press release
Global Alternative Data Market to Reach $36.29 Billion by 2029, Growing at 39.2% CAGR
Alternative Data Market Insights
The alternative data market is forecasted to grow due to the rising adoption of 5G networks. These networks are expected to speed up the use of alternative data applications and services and create new possibilities. The increase in bandwidth provided by 5G enables more data to be transmitted in a specific time frame, while the reduced latency results in faster data arrival. This kind of network facilitates broader coverage, supporting various network topologies and easy communication of alternative data. Additionally, 5G will cause data traffic to surge, and not only via smartphones but also through Internet-of-Things (IoT) capabilities. Ericsson, a telecommunications company based in Sweden, reported in May 2024 that the adoption of 5G networks is increasing worldwide, with about 300 networks initiated and 5G population coverage outside mainland China expected to hit around 40% by 2023's end, projected to increase to 80% by 2029. This progression promotes the need for alternative data.
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What Is the projected market size and growth rate for the alternative data market?
The market size for alternative data has seen a significant rise in the past few years. This market is projected to expand from its size of $6.7 billion in 2024 to $9.66 billion in 2025, indicating a compound annual growth rate (CAGR) of 44.1%. The notable growth during the historical period can be credited to factors such as the burgeoning e-commerce penetration, robust economic expansion in developing markets, growing Internet utilization and the rise in accessibility to mobile devices.
The market size of alternative data is anticipated to witness a surge in the upcoming years, expanding to $36.29 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 39.2%. The anticipated growth during the projection period can be credited to factors such as a surge in the number of smart cities, greater internet access, increased uptake of 5g networks, supportive governmental schemes, and a rising interest in stock trading. Significant trends during the forecast period comprise integrating artificial intelligence (AI), forming alliances with research institutions and well-established firms, launching next-generation platforms, and investments in edge computing solutions.
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What new trends are reshaping the alternative data market and its opportunities?
The key players in the alternative data market are opting for strategic partnerships to boost technology integration and broaden their market scope. Typically, a strategic partnership refers to a cooperative relationship between multiple organizations, pooling their resources, knowledge, and efforts to realize mutual goals or objectives. For instance, in May 2024, Exabel, an end-to-end alternative data platform based in Norway, formed a partnership with Datos, an American enterprise offering anonymized, large-scale, privacy-compliant clickstream data. The collaboration aimed at incorporating Datos' extensive clickstream dataset into Exabel's alternative data platform, thereby helping investors to examine consumer behavior via web traffic patterns. This joint venture improves investment team's capability to connect web traffic data with significant company performance metrics, offering valuable insights for precise KPI predictions and primary analysis.
What major market segments define the scope and growth of the alternative data market?
The alternative data market covered in this report is segmented -
1) By Data Type: Credit And Debit card Transactions, Email Receipts, Geo-Location (Foot Traffic) Records, Mobile Application Usage, Satellite And Weather Data, Social And Sentiment Data, Web Scraped Data, Web traffic, Other Data Type.
2) By Industry: Automotive, BFSI, Energy, Industrial, IT And Telecommunications, Media And Entertainment, Real Estate And Construction, Retail, Transportation And Logistics, Other Industries.
Subsegments:
1) By Credit And Debit Card Transactions: Consumer Spending Patterns, Retail Sales Insights
2) By Email Receipts: Purchase Confirmation Data, Consumer Behavior Analysis
3) By Geo-Location (Foot Traffic) Records: Store Visit Analytics, Location-Based Insights
4) By Mobile Application Usage: App Engagement Metrics, User Behavior Analysis
5) By Satellite And Weather Data: Crop Monitoring, Environmental Analysis
6) By Social And Sentiment Data: Social Media Trends, Brand Sentiment Analysis
7) By Web Scraped Data: Competitor Pricing, Product Availability
8) By Web Traffic: Visitor Analytics, Traffic Sources
9) By Other Data Types: Transactional Data, Industry-Specific Data
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Which region dominates the alternative data market?
North America was the largest region in the alternative data market in 2024. The regions covered in the alternative data market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the alternative data industry growth?
Major companies operating in the alternative data market include Ravenpack International SL, 1010data, Inc, Vortexa Ltd., Eagle Alpha Ltd., Audit Analytics,Thinknum Inc., Thasos Group, Yewno, Inc., Advan Research Corporation, Exante Data, LLC., Eoitek, Sam Technology, WakeData, Oracle, Microsoft, IBM, SAP, Plaxonic, Teradata, Amazon Web Services, Quiver Quantitative, S&P Global, AlphaSense, Kantar, Quandl, InfoTrie, Running Alpha, Unity, Maxilect, accenture* Analytics, Tableau Software, Deep Data Science, Sigma Data Systems, Preqin Ltd
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What Is Covered In The Alternative Data Global Market Report?
•Market Size Forecast: Examine the alternative data market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the alternative data market for a structured understanding.
•Key Players Overview: Analyze major players in the alternative data market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the alternative data market.
•Segment Contributions: Evaluate how different segments drive overall growth in the alternative data market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the alternative data market.
•Industry Challenges: Identify potential risks and obstacles affecting the alternative data market.
•Competitive Landscape: Review strategic developments in the alternative data market, including expansions, agreements, and new product launches.
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