According to the latest report by IMARC Group “Alternative Data Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The global alternative data market size reached US$ 2,771.7 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 35,198.7 Million by 2027, exhibiting a growth rate (CAGR) of 51.6% during 2022-2027.
Alternative data, or alt-data, refers to the data and information about financial instruments that are collected from traditional sources such as SEC filings, financial statements, press releases, and management presentations. Alt data facilitates investors to evaluate their investment opportunities and obtain more accurate, faster and granular insights and metrics regarding the performance of an organization.
The global alternative data market is primarily driven by the increasing alternative data sources, such as mobile devices, social media, and IoT-enabled devices. Various companies are expanding their offerings by gathering data from such sources, propelling the market growth. Alt data is mostly used by financial entities like banks, hedge funds, mutual funds, and insurance organizations to formulate strategic plans using analytics platforms, fluid data architecture, data science and testing tools. Furthermore, the integration of connected devices with artificial intelligence (AI), machine learning (ML) and natural language processing (NLP) for analyzing hidden patterns in data is also positively influencing the market growth.
Breakup by Data Type:
Mobile Application Usage
Credit and Debit Card Transactions
Geo-location (Foot Traffic) Records
Satellite & Weather Data
Social and Sentiment Data
Web Scraped Data
Breakup by End Use Industry:
Transportation and Logistics
Retail and eCommerce
Energy and Utilities
IT and Telecommunications
Media and Entertainment
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
The Earnest Research Company
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