USD 39.19 billion Growth Opportunity in Alternative Data Market from 2023 to 2028, 50.29% YOY Growth Expected in 2024 – Technavio

NEW YORK, Jan. 29, 2024 /PRNewswire/ — The alternative data market is estimated to grow by USD 39.19 billion from 2023 to 2028, according to Technavio. The market is estimated to grow at a CAGR of  51.87% with a YOY growth rate of 50.29% during the forecast period. However, the growth momentum will progress. 

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Technavio has segmented the market based on Type (Credit and debit card transactions, Social media, Mobile application usage, Web scrapped data, and Geolocation records and others), End-user (BFSI, IT and telecommunication, Retail, Media and entertainment and others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). 

The credit and debit card transactions segment is estimated to witness significant growth during the forecast period. Card and debit card transactions offer valuable alternative data revealing consumer spending habits and preferences. This data is sought after by market analysts, banks, and companies aiming to enhance their strategies and customer experiences. The segmentation comprises credit card transactions, which illuminate discretionary and luxury spending, and debit card transactions, providing insights into consumer credit management.

By geography, the global market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global alternative data market.

North America is estimated to contribute 55% to the growth of the global market during the forecast period. The region encompasses diverse sources like social media, satellite imagery, web scraping, and sensor data. These non-traditional data types are integral to financial institutions, hedge funds, and investment firms, providing unique insights into dynamics, consumer behavior, and economic trends. Startups and established companies use this data to assess retail performance, track supply chains, and predict economic conditions.

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 The increased availability and diversity of data sources is a key factor driving the growth. The growth is fueled by the vast volume of digital data. It encompasses diverse sources like social media, satellite imagery, web scraping, sensors, and IoT devices. Market participants value this non-standard data for its insights beyond traditional metrics. In finance, hedge funds and asset managers leverage alternative data to gain an edge in forecasting market movements.

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A Quick Overview

The market encompasses a wide range of sources, including financial news, social media sentiment, satellite imagery, web scraping, , supply , mobile app usage, credit card transactions, job postings, alternative energy production, e-commerce sales, online search trends, social network activity, event ticket sales, patent filings, online reviews, car telematics, legal case filings, regulatory filings, real estate listings, political polls, employee Glassdoor reviews, and cryptocurrency transactions.

What are the key points covered in this report?

CAGR during the forecast periodDetailed information on factors that will drive the growth between 2024 and 2028Precise estimation of the size and its contribution to the parent marketAccurate predictions about upcoming trends and changes in consumer behaviorGrowth of the industry across North America, Europe, APAC, Middle East and Africa, and South AmericaA thorough analysis of the market’s competitive landscape and detailed information about vendorsComprehensive analysis of factors that will challenge the growth of vendors

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Sizes

Five Forces Analysis

Segmentation by End-user

Segmentation by Type

Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential areas and assess their competitive positions within changing scenarios.

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SOURCE Technavio