Alternative Data Market Size - By Data Type (Credit & Debit Card Transactions, Email Receipts, Geo-location Records, Mobile Application Usage, Satellite & Weather Data, Social & Sentiment Data, Web Scraped Data), Industry Vertical, End Use & Forecast, 2024 - 2032
Published Date: April - 2025 | Publisher: MRA | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationAlternative Data Market Size
Alternative Data Market size was USD 4.9 billion in 2023 and is expected to register a CAGR of more than 28% during the period from 2024 to 2032. The increase in data-driven decision-making in various industries is a key driver of the market growth. Organizations understand that conventional data sources might not be comprehensive. Alternative data complements this by providing fresh insights from channels like social media, satellite images, and online activity. Combining traditional and alternative data gives businesses the ability to make more precise & informed decisions, resulting in improved strategies, enhanced customer knowledge, and increased operational efficiency.
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Alternative data sources provide a significant benefit in providing real-time insights, especially through channels like social media and reviews online. Companies can assess consumer attitudes, tastes, and responses to products & services in real-time. Real-time understanding allows companies to quickly adjust to shifts in trends & customer opinions and maintain agility in decision-making coupled with the capability to align strategies with changing consumer behaviors. These factors eventually lead to increased customer satisfaction and competitiveness.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Alternative Data Market Size in 2023 | USD 4.9 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 28.3% |
| 2032 Value Projection | USD 42.3 Billion |
| Historical Data for | 2018 - 2023 |
| No. of Pages | 200 |
| Tables, Charts & Figures | 263 |
| Segments covered | Data Type, Industry Vertical, End Use |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
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The absence of standardized formats and structures for alternative data sources has introduced complexity in the aggregation & analysis process. Each source may present data in unique ways, making it challenging to seamlessly integrate and compare information. This lack of uniformity hampers data harmonization efforts and increases the time & effort required for data preprocessing. Establishing common standards for data presentation & quality across diverse alternative data sources is essential to streamline analysis, enhance data consistency, and promote effective cross-source insights extraction.
COVID-19 Impact
The COVID-19 pandemic had a considerable influence on the alternative data market since lockdowns, remote work, and economic disruption altered consumer behavior. The real-time insights demand increased strongly, especially among industries such as finance, healthcare, and supply chain. Nevertheless, it presented challenges caused by the unpredictability of the pandemic's impact on data sources and having to reparameterize models. The pandemic served to emphasize the potential as well as limitations of alternative data in addressing unforeseen global events.
Alternative Data Market Trends
Growing usage of Environmental, Social, and Governance (ESG) data is one of the key trends driving the alternative data industry growth. With the growing significance of sustainability and corporate social responsibility, organizations are looking for data to measure their environmental footprint, social responsibility, and corporate governance. Alternative data sources like satellite imagery, social media sentiment analysis & supply chain monitoring offer insights into a firm's ESG performance. This trend has established a profitable market for alternative data providers servicing ESG-related analytics & reporting.
Alternative Data Market Analysis
Discover more about the top segments influencing this market
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In data and investing, hedge fund managers are the giants. They're coasting on a mountain of money - more than $2.4 billion in 2023 - and investing it in collecting all the rich new sources of data. Why? Because they're addicted to getting the edge. They don't want to know what to expect from the market next until they do know, and they'll pay handsomely to get data to make that kind of prediction. Hedge fund managers aren't purchasing any random data, however. They're seeking out unusual things that the rest of us can't get our hands on. Such as, for instance, what individuals are tweeting about a given stock. Or how many times a given site has been visited. They have the funds to purchase this data, and they have the intelligence to make it useful. They leverage it to determine what the market is thinking, which firms are doing well, and which shares are going to skyrocket. So, it is the hedge fund managers who are fueling the data industry's expansion. They're the ones who are pushing the boundaries and discovering fresh ways to utilize data to generate money. And as they keep investing in data, the size of the market will continue to expand.
Find out more about the influential segments in this market
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According to industry vertical, in 2023, the BFSI segment dominated alternative data market revenue. Customer relationship insights into the Banking, Financial Services, and Insurance (BFSI) business are fueling the market growth. Through the examination of non-traditional sources of data like social media interactions, online activity, and transaction patterns, BFSI organizations can better understand customer preferences, risk profiles, and financial requirements. This allows for customized offerings, improved risk assessment, and better customer engagement, ultimately leading to increased customer satisfaction and driving the growth of the market in BFSI.
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North America alternative data market generated 32% of the market share in 2023. In North America, the existing digital revolution has significantly influenced the market. Widespread deployment of digital technology, online portals, and online commerce activities within the region has created a massive amount of alternative data. From social media engagement to online purchases, this abundance of digital data offers a one-time chance for companies in different industries to harness non-traditional sources of data and understand consumer trends, market trends & emerging opportunities.
Alternative Data Market Share
Major companies operating in the alternative data industry are
The competitive landscape of this market is dynamic and diverse, characterized by a multitude of players ranging from established data providers to emerging startups.
Alternative Data Industry News
- In July 2023, Dillibits launched AltIndex, a fresh alternative data platform designed to enrich the trading proficiency of cryptocurrency users. The platform provides customers with improved insights and expanded investment prospects.
- In May 2022, Synaptic, a data analytics startup, secured USD 20 million in its Series B funding phase. This successful funding round marked the completion of the equity-based Series B cycle. The raised funds were slated for purposes such as advancing product development, bolstering Synaptic's prowess in data science & recruitment efforts and fostering partnerships with data vendors.
The alternative data market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments
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Market, 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
- Others
Market, By Industry Vertical
- Automotive
- BFSI
- Energy
- Industrial
- IT & Telecommunications
- Media & Entertainment
- Real Estate & Construction
- Retail
- Transportation & Logistics
- Others
Market, By End Users
- Hedge Fund Operators
- Investment Institutions
- Retail Companies
- Others
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
- GCC
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