Alternative Data Global Market Report 2024

Alternative data refers to non-traditional information sources providing insights into a firm's future performance beyond conventional data such as corporate filings and analyst predictions. It is valuable for pre-trade investment assessment and monitoring a firm, industry, or nation's health.

Key types of alternative data include credit/debit card transactions, email receipts, geo-location (foot traffic) records, mobile app usage, satellite/weather data, social sentiment data, web scraping, and web traffic. Credit card transaction data, for example, helps estimate future spending patterns. This data is utilized across various sectors, including automotive, BFSI, energy, industrial, IT, telecommunications, media, entertainment, real estate, construction, retail, transportation, and logistics, benefiting businesses of all sizes.

The alternative data market research report is one of a series of new reports from The Business Research Company that provides alternative data market statistics, including alternative data industry global market size, regional shares, competitors with an alternative data market share, detailed alternative data market segments, market trends and opportunities, and any further data you may need to thrive in the alternative data industry. This alternative data market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The alternative data market size has grown exponentially in recent years. It will grow from $4.67 billion in 2023 to $6.72 billion in 2024 at a compound annual growth rate (CAGR) of 44.0%. The growth observed in the historical period can be attributed to several factors, including the rising penetration of e-commerce, strong economic growth in emerging markets, increased internet penetration, and the greater availability of mobile devices.

The alternative data market size is expected to see exponential growth in the next few years. It will grow to $26.28 billion in 2028 at a compound annual growth rate (CAGR) of 40.6%. The forecasted growth is driven by increased smart city initiatives, rising internet penetration, widespread adoption of 5G, supportive government initiatives, and growing interest in stock trading. Key trends include the integration of AI, collaborations with research institutions and established companies, the launch of next-gen platforms, and investments in edge computing solutions.

The anticipated growth in the alternative data market is expected to be driven by the increasing adoption of 5G networks. The deployment of 5G networks is poised to accelerate the adoption of alternative data applications and services, enabling new use cases. The enhanced capabilities of 5G, including increased bandwidth and lower latency, contribute to faster data transmission and support multiple network topologies, facilitating seamless communication for alternative data. Additionally, the widespread coverage offered by 5G networks supports various devices, including smartphones and Internet of Things (IoT) enabled devices, leading to a surge in data traffic. According to Ericsson's Mobility Report Q2 2021, the number of global 5G smartphone subscriptions in 2021 was projected to reach 600 million, marking a three-fold increase from the 2020 total. By 2022, it is expected that 5G subscriptions will surpass one billion, driving the demand for alternative data.

The growth of the alternative data market is propelled by the increase in internet penetration. The internet serves as a vast network connecting computers worldwide, facilitating the sharing of information and communication from any location with an internet connection. The rise in internet penetration is advantageous for alternative data in various ways, enabling the collection, analysis, and utilization of diverse and unconventional data sources. As of November 2021, the International Telecommunication Union (ITU) reported an increase of 782 million internet users, accounting for 63% of the global population compared to the previous year. This upward trend in internet penetration is expected to fuel the growth of the alternative data market.

The rapid growth in investments in smart city projects worldwide is expected to support the alternative data market. Smart city technologies utilize information and communication technologies to efficiently manage and operate various urban services, including transportation systems, water supply, and law enforcement. Big data plays a crucial role in smart cities, with applications ranging from transport and public safety to city budget management. Predictive, big-data analytics are employed in smart cities to identify potential crime hubs and predict precise crime locations. In 2021, Eurazeo's subsidiary, Idinvest Partners, completed the first stage of its Smart City Fund II, with plans to raise a total of EUR 200 million ($243.5 million). By February 2021, the fund had raised EUR 80 million ($97.4 million). The ongoing development of smart cities is anticipated to serve as a significant driver for the alternative data market in the forecast period.

The alternative data market is experiencing a boost from the growing trend of companies, governments, and research bodies forming strategic collaborations and partnerships to develop alternative data solutions, offering enhanced insights across diverse industries. An example of such collaboration is Equifax's acquisition of Teletrack, a US-based alternative credit data firm, in September 2021. This strategic move is set to establish a US specialty consumer reporting agency, leveraging Teletrack's data on thin file, unbanked, underbanked, and credit-rebuilding consumers. Teletrack specializes in providing non-traditional credit data and insights into the alternative financial services industry.

In November 2021, ABT Capital Markets Inc. disclosed its acquisition of a 25% stake in ESG Data Services Inc., an alternative data provider. The financial details of the transaction were not disclosed. This strategic move positions ABT Capital to enhance its decision-making capabilities through analytics-driven insights derived from the comprehensive data intelligence provided by ESG Data Services Inc. ESG Data Services Inc. operates as a full-scale alternative data and artificial intelligence (AI) company, specializing in measuring risks and opportunities associated with the practices of countries and companies.

Major companies operating in the alternative data market report are 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, Caretta, Exceed Team, Quexopa, Inventale, Accenture Analytics, Tableu Software, Deep Data Science, Experion Technologies, Clariba Consulting, Nice Software solutions, Sigma Data Systems, Preqin Ltd

North America was the largest region in the alternative data market in 2023. The regions covered in the alternative data market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the alternative data market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The alternative data market includes revenues earned by entities by providing services such as point-of-sale transactions, web site usage, mobile app or app store analytics, crowdsourcing, and obscure city hall records. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Alternative Data Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on alternative data market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for alternative data? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The alternative data market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 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.
• Companies Mentioned: Ravenpack International SL; 1010data, Inc; Vortexa Ltd.; Eagle Alpha Ltd.; Audit Analytics
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: PDF, Word and Excel Data Dashboard.