SAN FRANCISCO, Sept. 15, 2020 /PRNewswire/ -- The global
alternative data market size is anticipated to reach
USD 17.35 billion by 2027, expanding
at a CAGR of 40.1% from 2020 to 2027, according to a new
report by Grand View Research, Inc. 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 inclining
to use alternative data to derive predictive insights. Moreover,
the use of alternative data for risk management processes is also
expected to drive the market growth.
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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).
Key suggestions from the report:
- 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 2020 to 2027 owing to
the high accuracy of the data type and significant demand from
asset managers
- The BFSI industry segment is held the largest market share
in 2019 as the entities such as hedge funds, mutual funds, and
insurance companies are early adopters of alternative data
- North America dominated the
global market and accounted for over 33% share of revenue in 2019
expected to maintain its dominance from 2020 to 2027
- Emerging economies, such as India, Thailand, Singapore, and China, are expected to drive the growth of the
Asia Pacific regional market owing
to the rising use cases of alternative data for predictive risk
assessment
- Some of the prominent market players in the market include
1010Data, Advan, Dataminr, Earnest Research, M Science, Preqin,
RavenPack, Thinknum Alternative Data, UBS Evidence Lab, and
YipitData
Read 95 page research report with ToC on "Alternative Data
Market Size, Share & Trends Analysis Report By Data Type (Card
Transactions, Mobile Application Usage, Social & Sentiment
Data), By Industry, By Region, And Segment Forecasts, 2020 - 2027"
at:
https://www.grandviewresearch.com/industry-analysis/alternative-data-market
North America dominated the
market in 2019 with a market share of more than 33% and is
estimated to continue dominating the global market over the
forecast period of 2020 to 2027. 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 the regional market
growth. On the other hand, Asia
Pacific is expected to emerge as the fastest-growing
regional market 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.
Grand View Research has segmented the global alternative data
market based on data type, industry, and region:
- Alternative Data Type Outlook (Revenue, USD Million, 2016 -
2027)
-
- 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
- Other Data Types
- Industry Outlook (Revenue, USD Million, 2016 -
2027)
-
- Automotive
- BFSI
- Energy
- Industrial
- IT & Telecommunications
- Media & Entertainment
- Real Estate & Construction
- Retail
- Transportation & Logistics
- Other Industries
- Regional Outlook (Revenue, USD Million, 2016 -
2027)
-
- North America
-
- Europe
-
- Asia Pacific
-
- South America
-
- The Middle East &
Africa
- List of Key Players of Alternative Data Market
-
- 1010Data
- Advan
- Dataminr
- Earnest Research
- M Science
- Preqin
- RavenPack
- Thinknum Alternative Data
- UBS Evidence Lab
- YipitData
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simulation capabilities, are driving the growth of smart
manufacturing.
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transformation among industries, rising penetration of internet and
mobile devices across the world, and increase in consumption of big
data are the primary drivers fostering the market growth.
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industry is driven by growing demand for Software as a Service
(SaaS) in the deployment of customer relationship management (CRM)
suites and solutions.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting
company, provides syndicated as well as customized research reports
and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425
analysts and consultants, adding more than 1200 market research
reports to its vast database each year. These reports offer
in-depth analysis on 46 industries across 25 major countries
worldwide. With the help of an interactive market intelligence
platform, Grand View Research helps Fortune 500 companies and
renowned academic institutes understand the global and regional
business environment and gauge the opportunities that lie
ahead.
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