Alternative Data Market: A Comprehensive Overview

The alternative data market was estimated to be worth USD 4.9 billion in 2022. The alternative data market is expected to grow from USD 7.5 billion in 2023 to USD 227.8 billion by 2032, at a CAGR of 53.20% during the forecast period (2023-2032). Growing demand for hedge funds and data acquisition are key factors fuelling market growth.  The growing demand for hedge funds is expected to significantly boost the expansion of the market. Today, more than half of hedge fund managers use it to improve risk management processes and gain a competitive edge for better results. Thanks to the efforts of more than 400 companies, the market revenue of providing alternative data to hedge funds will increase significantly.

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Key Companies in the Alternative Data Market Include

• 1010Data
• Advan
• Dataminr
• Earnest Research
• M Science
• Preqin
• RavenPack
• Thinknum Alternative Data
• UBS Evidence Lab
• YipitData

When we talk about alternative information, we refer to previously unknown information that is missing from traditional sources. It is compiled using social media, e-commerce sites, public data, web traffic, mobile devices, sensors, satellites, and other sources. Market growth is expected to significantly accelerate demand growth for hedge funds. Today, more than half of hedge fund managers use it to improve performance and help their risk management procedures gain a competitive edge. Marketing income from the sale of alternative data to hedge funds significantly increases the work of more than 400 companies. Thus, income in the alternative data market.

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Segmentation of The Alternative Data Market

Segmentation of alternative data markets based on data type includes credit and debit card transactions, email receipts, geographic (foot traffic) records, mobile phone usage, satellite and weather data, social and sentiment data, data collected from the web, web traffic and others. data types in 2022, credit and debit card transactions dominated the market. Alternative data market segmentation by industry includes automotive, BFSI, energy, industrial, IT and telecom, media and entertainment, real estate and construction, retail, transportation and logistics and other industries. In 2022, the BFSI category dominated the market.

based on end-user includes hedge funds, investment institutions, retail businesses and other end-users. In 2022, hedge fund operators led target market segmentation.

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By region, the study provides a market overview of North America, Europe, Asia Pacific and rest of the world. About 45.80% of global revenue in 2022 came from North America, which is expected to continue to dominate the market. A large number of market players including Advan, Eagle Alpha, M Science and UBS Evidence Lab are likely to contribute to the region’s significant market share. The large market share is also due to the early adoption of alternative data by industries in several countries. Currently, more than 70% of US wealth managers are looking to use alternative data in their investment process. In addition, the US alternative data market had the largest market share, and the Canadian alternative data market was the fastest growing market in the North American region.

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