Alternative Data Market Research Report: By Type (Web Scraping Data, Geolocation Data, Social Media Data, Transaction Data), By Application (Investment Research, Risk Management, Marketing Analytics, Corporate Strategy), By Data Source (Publicly Available Data, Private Data, User-Generated Data, Third-Party Data), By End User (Financial Institutions, Consulting Firms, Retail Enterprises, Technology Companies) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2035.

Alternative Data Market Overview

As per MRFR analysis, the Alternative Data Market Size was estimated at 6.69 (USD Billion) in 2023.

The Alternative Data Market Industry is expected to grow from 7.51(USD Billion) in 2024 to 27 (USD Billion) by 2035. The Alternative Data Market CAGR (growth rate) is expected to be around 12.33% during the forecast period (2025 - 2035).

Key Alternative Data Market Trends Highlighted

Driven by growing data source availability and diversity, the Global Alternative Data Market is now seeing notable changes. To get insights for decision-making, companies are increasingly using unusual data sets such as transaction data, satellite imaging, and social media interactions. The desire for competitive advantages in many industries, especially banking and investing, drives much of the demand for these alternate data sources. Companies want to improve their analytical skills, which is driving more alliances with technology companies and data suppliers. In industries like fintech, where businesses are using alternative data to evaluate credit risk and provide customized services more precisely, opportunities are being investigated.

The healthcare sector is also starting to see the possibilities of alternative data for predictive analytics, enhancing patient care, and simplifying operations. This spread of use across industries shows that there is an opportunity for development and cooperation between creative data processing enterprises and conventional data analytics organizations. Lately, the trend of regulating attention on data use is catching up all across the planet. Governments are concentrating on data security and privacy, which is driving companies to use more open data policies. As businesses seek to earn customer confidence, this trend underlines the need for compliance.

Furthermore, developments in machine learning and artificial intelligence are allowing more efficient data processing, which is good for the future of the alternative data sector. Given the circumstances, these developments point to a brighter and more responsible attitude toward data use worldwide.

Fig 1: Alternative Data Market Overview

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Alternative Data Market Drivers

Rising Demand for Enhanced Decision-Making

Driven by the growing need for improved decision-making among companies and financial institutions, the Global Alternative Data Market Industry is expanding notably. Big data analytics has led businesses to depend on alternative data sources to get insights that conventional data cannot provide. For example, the Global Data Alliance reports that companies using alternative data saw up to a 15% increase in their forecasting accuracy, which would mean billions more income possibilities worldwide.

The need for alternative data to enhance operational efficiency and financial forecasting has been a key driver for the market's expansion, as companies like JP Morgan Chase have used it to hone their investment plans. Furthermore, government programs encouraging digital transformation are increasingly emphasizing the need for using alternative data in many industries, especially in banking, retail, and supply chain management.

These changes, acting as a key factor in preserving competitive advantage, highlight the need for alternative data in forming informed judgments worldwide.

Growth of Fintech Sector

Substantial expansion of the fintech industry, which more and more depends on alternative data to evaluate credit risk, fraud detection, and client segmentation, supports the Global Alternative Data Market Industry. Data from the International Fintech Association suggests that by 2030, the worldwide fintech industry will be more than 300 billion USD, thereby increasing the need for creative data solutions. Leading to quicker and more precise lending choices, companies like Square and Stripe are using alternative data sources for improved risk assessment and consumer insights.

Fintech's rapid growth not only supports the alternative data sector but also speeds digital innovation in financial services, driving market growth vitally.

Regulatory Changes Favoring Data Utilization

Recent legislative developments in some nations are significantly affecting the Global Alternative Data Market Industry by promoting the use of alternative data for compliance and analytics in industries like banking and insurance. The European Union's General Data Protection Regulation (GDPR) has been essential in influencing data management and privacy policies by driving companies to investigate acceptable alternative data sources. Moreover, the UK's Financial Conduct Authority has been pushing financial firms to be creative with alternative data, hence expanding the range of responsible data use.

This evolving legal environment guarantees companies a structured framework and requires the use of alternative data solutions, hence fostering a good climate for innovation and expansion in the alternative data industry.

Alternative Data Market Segment Insights

Alternative Data Market Type Insights

The Global Alternative Data Market, particularly under the Type segmentation, is experiencing a robust evolution as it adapts to various demands driven by technological advancements and data-driven decision-making. In 2024, the market is projected to reach a valuation of 7.51 USD Billion, which highlights its growing relevance across multiple industries. The various categories such as Web Scraping Data, Geolocation Data, Social Media Data, and Transaction Data each play a critical role in this expanding landscape. Among these, Web Scraping Data emerges as a significant force, with a valuation anticipated to increase from 1.8 USD Billion in 2024 to 6.8 USD Billion in 2035, demonstrating its dominance fueled by the ability to aggregate large volumes of information from various online sources rapidly.

This capability is particularly valuable in sectors like finance, marketing, and research where timely, relevant data availability can influence strategic decisions. Geolocation Data, valued at 1.2 USD Billion in 2024, is forecasted to grow to 4.5 USD Billion by 2035. This rapid increase is largely due to the growing reliance on mobile technology and location-based services, which provide businesses with actionable insights on consumer behavior and preferences. Furthermore, Social Media Data shows substantial growth potential, with its value expected to jump from 2.3 USD Billion in 2024 to 8.5 USD Billion in 2035.

This trend reflects the significant impact of social media platforms in shaping public opinion and discourse, while also enabling brands to tailor their marketing strategies based on real-time feedback. Similarly, Transaction Data holds a crucial position, beginning with a valuation of 2.21 USD Billion in 2024 and reaching 7.2 USD Billion by 2035, indicating its importance in analyzing consumer spending behavior and financial trends. Transaction Data allows businesses to gain insights vital for inventory management, customer relationship management, and financial forecasting.

Overall, the segmentation within the Global Alternative Data Market illustrates varied yet complementary roles that these data types play in enhancing business intelligence and operational efficiency. As sectors become increasingly data-centric, the demand for these specific types of alternative data is set to rise substantially, with each type contributing distinct advantages that firms are keen to leverage.

Fig 2: Alternative Data Market Insights

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Alternative Data Market Application Insights

The Global Alternative Data Market, particularly within the Application segment, plays a crucial role in various industries. By 2024, the market is expected to be valued at 7.51 billion USD, demonstrating substantial growth potential. Key applications include Investment Research, Risk Management, Marketing Analytics, and Corporate Strategy, each contributing significantly to overall market performance. Investment Research utilizes alternative data to enhance decision-making, while Risk Management leverages it to predict financial risks, making these applications essential for organizations aiming to gain competitive advantages.
Marketing Analytics fuels targeted advertising and consumer behavior insights, thus enabling businesses to optimize their marketing strategies effectively. Corporate Strategy utilizes data to align resources with market opportunities, promoting operational efficiency. As markets globally become more data-driven, the importance of these applications intensifies. The Global Alternative Data Market segmentation showcases comprehensive data analysis capabilities that can drive innovation and business growth, reflecting a significant trend in the industry towards leveraging alternative datasets for strategic advantage.

Alternative Data Market Data Source Insights

The Global Alternative Data Market is witnessing substantial growth, particularly in the Data Source segment, which plays a crucial role in shaping market dynamics. By 2024, the overall market is valued at 7.51 billion USD, expanding significantly to 27 billion USD by 2035. This robust growth is driven by the increasing reliance on diverse data sources that aid in decision-making processes. Within the Data Source segment, various types of data are instrumental. Publicly Available Data offers organizations a treasure trove of information, enabling them to analyze trends and enhance strategies.

Private Data contributes significantly by providing unique insights tailored to specific business needs. User-Generated Data, leveraging consumer interactions and feedback, has become vital for brands aiming to improve customer engagement. Third-Party Data enhances market research and analytics by leveraging comprehensive datasets. The significance of these data types lies in their ability to empower businesses with actionable insights and competitive advantages, positioning them effectively in the rapidly evolving market landscape. Overall, the Global Alternative Data Market statistics highlight a clear trend towards the reliance on varied data sources as pivotal components of strategic planning and operational efficiency in the global economy.

Alternative Data Market End User Insights

The Global Alternative Data Market has shown remarkable growth, with the overall market valued at 7.51 USD Billion in 2024 and expected to grow significantly by 2035. Within the End User segment, major players include Financial Institutions, Consulting Firms, Retail Enterprises, and Technology Companies, each contributing to the marketplace. Financial Institutions leverage alternative data to enhance investment strategies and risk management, while Consulting Firms utilize this data for competitive analysis and market insights. Retail Enterprises increasingly rely on alternative data for customer behavior analysis, improving inventory management, and driving sales strategies.

Technology Companies, on the other hand, dominate in the utilization of alternative data by incorporating it into their solutions, enhancing user experience, and optimizing service delivery. The demand for real-time data insights and analytics is a key growth driver for the Global Alternative Data Market, while challenges may arise from data privacy regulations and data quality assurance. Overall, the segmentation demonstrates the diversity and applicability of alternative data across various industries, underscoring its significance in enabling informed decision-making and fostering innovation in the Global marketplace.

Alternative Data Market Regional Insights

The Regional segmentation of the Global Alternative Data Market showcases a diverse landscape with significant valuation variations across different areas. In 2024, North America leads with a valuation of 3.2 USD Billion, projected to rise to 12.34 USD Billion by 2035, exemplifying its dominance in the market due to its advanced technological infrastructure and high demand for data-driven decision making. Europe follows with a valuation of 1.8 USD Billion in 2024, expected to grow to 6.84 USD Billion by 2035, driven by increasing investments in analytics and artificial intelligence.

The Asia-Pacific (APAC) region also shows promise with a valuation of 1.5 USD Billion in 2024, anticipated to reach 5.67 USD Billion by 2035, as businesses in emerging markets increasingly recognize the value of alternative data. South America and the Middle East and Africa (MEA) regions have smaller shares, valued at 0.6 USD Billion and 0.41 USD Billion in 2024 respectively, with projections of 2.24 USD Billion and 0.91 USD Billion by 2035. While these regions are developing, their growth is fueled by rising digital transformation initiatives and enhanced market accessibility.

This segmentation illustrates the growing recognition and adoption of alternative data across various economies, providing crucial insights for stakeholders in the Global Alternative Data Market industry.

Fig 3: Alternative Data Market Regional Insights

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Alternative Data Market Key Players and Competitive Insights

The Global Alternative Data Market is experiencing significant growth, driven by the increasing demand for innovative data sources that complement traditional market information. As businesses and investors look to harness untapped datasets for competitive advantage, various players in this landscape are emerging, each offering unique solutions. This market encompasses a diverse range of alternative data sources, including social media sentiment, satellite imagery, and transactional data. Companies operating in this sphere are working to differentiate their offerings through technological advancements, strategic partnerships, and a focus on providing actionable insights. The competitive landscape is characterized by a mix of established firms and emerging startups, all vying for a share in the evolving data analytics ecosystem.

Bloomberg holds a prominent position in the Global Alternative Data Market, leveraging its extensive financial expertise and technological infrastructure to provide comprehensive alternative data solutions. Bloomberg's strength lies in its robust data acquisition capabilities, which allow it to curate alternative data sets that enrich its financial platform. The company employs advanced analytics and machine learning techniques to process and analyze this data, yielding insights that are vital for investment decision-making across various sectors. The integration of alternative data with Bloomberg's existing product suite enhances its value proposition for clients, offering them critical competitive intelligence. With a substantial global footprint in finance and investment, Bloomberg's reputation for reliability and depth of data positions favorably in the competitive landscape.

FactSet also has a solid presence in the Global Alternative Data Market, focusing on delivering innovative analytics and financial data solutions that empower clients to make informed decisions. Known for its user-friendly interface and comprehensive suite of tools, FactSet integrates alternative data into its core offerings, including its flagship analytics platform. The company's strength lies in its technology-driven approach, enabling seamless access to diverse datasets that enhance investment strategies. FactSet frequently engages in strategic mergers and acquisitions to bolster its capabilities and expand its alternative data offerings, further solidifying its market presence. The combination of robust analytics, strong customer relationships, and continuous innovation allows FactSet to thrive in the Global Alternative Data Market, catering effectively to the needs of institutional investors and financial professionals. Through these initiatives, it maintains a competitive edge by delivering actionable insights that assist clients in navigating complex market conditions.

Key Companies in the Alternative Data Market Include

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  Bloomberg

  
  


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  FactSet

  
  


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  Neudata

  
  


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  AlphaSense

  
  


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  Signals Analytics

  
  


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  YipitData

  
  


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  Municibid

  
  


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  Civen Analytics

  
  


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  Refinitiv

  
  


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  Thinknum

  
  


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  DataLend

  
  


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  Quandl

  
  


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  Moody's Analytics

  
  


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  S and P Global

  
  


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  Battlefin

  
  

Alternative Data Market Industry Developments

Recent developments in the Global Alternative Data Market reflect its rapid growth and increasing adoption across various sectors. In October 2023, Bloomberg launched new analytics tools aimed at financial analysts, emphasizing the rising demand for real-time data. FactSet has also expanded its partnerships to integrate more alternative datasets, showcasing the market's diversification. Neudata, in a recent initiative, provided a framework for ethical data sourcing, which has become crucial as concerns around privacy and data integrity grow. In terms of mergers and acquisitions, AlphaSense announced its acquisition of Signals Analytics in September 2023, enhancing its data capabilities. Concurrently, YipitData's acquisition of Municibid is expected to broaden its dataset offerings and strengthen its position in the market. The collective market valuation of companies such as Moody's Analytics, S and P Global, and Refinitiv has shown significant growth, attributed to the increasing reliance on alternative data for informed decision-making. Overall, the last two to three years have witnessed a notable enhancement in the competitiveness of the Global Alternative Data Market, with key players consistently innovating and expanding their service offerings.

Alternative Data Market Segmentation Insights

Alternative Data Market Type Outlook

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  Web Scraping Data

  
  


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  Geolocation Data

  
  


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  Social Media Data

  
  


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  Transaction Data

  
  

Alternative Data Market Application Outlook

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  Investment Research

  
  


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  Risk Management

  
  


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  Marketing Analytics

  
  


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  Corporate Strategy

  
  

Alternative Data Market Data Source Outlook

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  Publicly Available Data

  
  


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  Private Data

  
  


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  User-Generated Data

  
  


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  Third-Party Data

  
  

Alternative Data Market End User Outlook

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  Financial Institutions

  
  


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  Consulting Firms

  
  


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  Retail Enterprises

  
  


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  Technology Companies

  
  

Alternative Data Market Regional Outlook

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  North America

  
  


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  Europe

  
  


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  South America

  
  


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  Asia Pacific

  
  


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  Middle East and Africa

  
  

Report Attribute/Metric	Details
Market Size 2023	6.69(USD Billion)
Market Size 2024	7.51(USD Billion)
Market Size 2035	27.0(USD Billion)
Compound Annual Growth Rate (CAGR)	12.33% (2025 - 2035)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Base Year	2024
Market Forecast Period	2025 - 2035
Historical Data	2019 - 2024
Market Forecast Units	USD Billion
Key Companies Profiled	Bloomberg, FactSet, Neudata, AlphaSense, Signals Analytics, YipitData, Municibid, Civen Analytics, Refinitiv, Thinknum, DataLend, Quandl, Moody's Analytics, S and P Global, Battlefin
Segments Covered	Type, Application, Data Source, End User, Regional
Key Market Opportunities	Increased demand for investment insights, Growth in fintech innovations, Expansion of AI-driven analytics, Rising need for data-driven decision-making, Integration with traditional data sources
Key Market Dynamics	Data-driven decision making , Increasing investment in analytics , Regulatory compliance requirements , Rise of AI technologies , Growing demand for real-time insights
Countries Covered	North America, Europe, APAC, South America, MEA