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Alternative Data Market Trends

Report ID: GMI6521
Published Date: Jul 2024
Report Format: PDF

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Alternative Data Market Trends

The increased adoption of Environmental, Social, and Governance (ESG) data is one of the significant trends promoting the alternative data industry growth. As sustainability and responsible business practices gain importance, organizations are seeking data to assess their environmental impact, social responsibility, and corporate governance. Alternative data sources, such as satellite imagery, social media sentiment analysis & supply chain tracking, provide insights into a company's ESG performance. This trend has created a valuable market for alternative data providers catering to ESG-related analytics & reporting.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of alternative data reached USD 4.9 billion in 2023 and is set to witness 28% CAGR from 2024 to 2032, due to increasing need for data-driven decision-making across industries worldwide.

The hedge fund operators segment held USD 2.4 billion in 2023, on account of their agility and the rising consumer willingness to explore unconventional data sources.

North America recorded over 32% of the market share in 2023, owing to widespread adoption of digital technologies, online platforms, and e-commerce activities in the region.

Advan Research Corporation, Dataminr Inc., Eagle Alpha Ltd., M Science LLC, and UBS Evidence Lab are some of the major alternative data companies worldwide.