Alternative Data Market Size And Projected Growth will be descried in this article. Alternative data sets are becoming more important to investors of all sizes, yet SEC filings and other easily accessible sources of information continue to be widely used. To be more precise, an increasing number of hedge fund managers are now utilizing alternative data to gain a competitive advantage. In general, the market for alternative data is expected to soar in the years to come. Additionally, we’ll discuss the current situation (as well as expected growth) of this fascinating sector in this research.
Alternative Data Market Size And Projected Growth
In this article, you can know about Alternative Data Market here are the details below;
Top Alternative Data Stats
- An estimated $6.8 billion is the market worth of alternative data globally.
- By 2030, it is anticipated that alternative data would reach $100 billion.
- Currently, the market for alternative data is expanding at a CAGR of more than 50%.
- One or more alternative data sets are used by 17 out of 20 top hedge fund managers.
Alternative Data Size
The market for alternative data worldwide is expected to be worth $6.8 billion by 2023. The alternative data industry grew by $1.7 billion in just a year, from $2.7 billion in 2021 to $4.4 billion in 2022). Furthermore, the market expanded by more than $2 billion between 2022 and 2023.
The market for alternative data is influenced by the development of smart technologies. Notably, alternative data sources remain to be investigated. It is anticipated that additional use cases will be identified and put to use as internet adoption increases and markets expand.
Alternative Data Growth Forecast
By 2030, the alternative data is predicted to have grown at a synthesized annual growth rate (CAGR) of 54.4% and would be worth $143.3 billion.
The chart below demonstrates how the alternative data industry is anticipated to expand annually:
- $2.7 billion Year Market Valuation Based on Estimated CAGR
- $4.4 billion in 2022
- 8 billion in 2023
- $10.5 billion in 2024
- $16.2 billion in 2025
- $25 billion in 2026
- $38.6 billion in 2027
- $59.6 billion in 2028
- 2030 $143.3 billion 2029 $92 billion
Growth Drivers
Several important factors are propelling the alternative data market’s rapid growth. Unsurprisingly, smart technology’s widespread adoption is fostering growth. IoT and smart technology enable mass data collecting in close to real time.
Additionally, expanding internet usage and the adoption of 5G offer fresh sources of different data.Agreeable government measures are anticipated to further expand the market for alternative data, especially in emerging nations.
Key Players
1010Data (US)
- Advan
- Dataminr
- Earnest Research
- M Science
- Preqin
- Spain’s
- RavenPack
- Thinknum Alternative Data (US)
- US-based UBS Evidence Lab
- (US) YipitData
- Ireland’s
- Eagle Alpha
- Convergence (US)
- 7Park Data (US)
- Geographicab Inc.
- Canada’s JWN Energy
- China’s
- Talkingdata
Alternative Data Usage
Alternative data has been embraced widely by hedge fund managers. According to the most recent data, 85% of the top hedge fund managers employ two or more alternative data sets. In fact, seven or more alternative data sets are used by more than half (54%) of market-leading hedge fund managers. Managers who use nine or more alternative data sources are more prevalent than those who use only one. Nearly half (46%) of all hedge fund teams devote at least 20% of their effort on alternative data. Comparatively, 31% of people use alternate data between 10% and 20% of the time. Moreover, a total of 24% make less money. Also check Alternatives To Jungle Scout
Conclusion
The market for alternative data is about to explode. Additionally, due to the market’s inherent connection to 5G and smart technology, rapid expansion is probable.