The global Alternative Data Market size is anticipated to
reach USD 143.31 billion by 2030, according to a new report by Grand View
Research, Inc. The market is expected to expand at a CAGR of 54.4% from 2022 to
2030. The increasing emphasis on gaining alpha from hedge funds is expected to
boost the demand for alternative data. The asset managers from hedge funds,
mutual funds, private equity funds, pension funds, unit trusts, life insurance
companies, and other BFSI entities are highly inclined to use alternative data
to derive predictive insights. Moreover, the use of alternative data for risk
management processes is also expected to drive market growth.
Nowadays, data sources are not limited to
transactions, and email receipts as companies are finding ways to extract data
from various emerging sources. These include social media, web traffic, mobile
devices, sensors, IoT-based devices, satellites, and e-commerce portals.
The data analysts utilize this data in correlation with each other to derive
various hidden patterns and insights. However, the data collected from some of
these sources conflict with privacy regulations such as the California Consumer
Privacy Act (CCPA) and the General Data Protection Regulation (GDPR). Thus, the
data aggregators and end-users need regulatory compliance, which ensures their
datasets are free from Personal Identifiable Information (PII).
North America dominated the market and accounted for a
revenue share of more than 67.0% in 2021. The region is estimated to continue
its dominance over the forecast period from 2022 to 2030. The emerging presence
of numerous alternative data providers in the U.S is the major driving factor.
Companies such as Advan, Eagle Alpha, M Science, and YipitData are providing
various types of alternative data, including credit and debit card
transactions, email receipts, geo-location (foot traffic) records, mobile
usage, satellite, weather data, social and sentiment data, and web scraped
data. The acquisitions and partnership initiatives from companies such as
Nasdaq and S&P Global Platts is further expected to fuel regional market
growth.
On the other hand, Asia Pacific is expected to emerge
as one of the fastest-growing regional markets over the forecast period. This
is due to rising use-cases of alternative data in BFSI, retail, automotive, and
telecommunication industries. The use of alternative data for investments and
risk assessment, particularly from companies in emerging economies, such as
India and China, is expected to boost the regional market growth.
Related Press Release@ Alternative Data Market Report
Alternative Data Market Report
Highlights
- Amidst the coronavirus pandemic, the companies are using
alternative data collected from social media, mobile phones, applications,
wearables, and other IoT-based devices to assess changes in consumer
behavior patterns related to purchases and interests
- The credit and debit card transactions segment is anticipated to
exhibit the highest CAGR from 2022 to 2030 owing to the high accuracy of
the data type and significant demand from asset managers
- The hedge fund operators segment held the largest revenue share
amongst all end-users in 2021 on account of rising demand for data from
the investors and firms to identify lucrative investment opportunities and
generate alpha
- The BFSI industry segment held the largest market share in 2021 as
the entities such as hedge funds, mutual funds, and insurance companies
are early adopters of alternative data
- North America dominated the market and accounted for over 67.0%
share of revenue in 2021 and is expected to maintain its dominance from
2022 to 2030
- Emerging economies, such as India, Thailand, Singapore, and China,
are expected to drive the market in the Asia Pacific owing to the rising
use cases of alternative data for predictive risk assessment
About Us:
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment