Investors across the globe are demanding more actionable insights before making inferences about where to invest in. This has led to the demand for alternative data providers to collect, analyse, and interpret useful data from non-traditional sources. These sources include financial transactions, public records, web traffic, mobile devices, sensor inputs, satellites, and news sites. For instance, due to rising trend of data strategies and for making data-driven decisions in the travel and hospitality sector the alternative data provider market is in huge demand. This industry is actively taking advantage of several alternative data sources to make better decisions. For instance, travel firms across the globe are utilizing data analytics to study the purchasing behaviour of passengers as well as their travel habits. In addition, the revenue managers in this sector heavily rely on the high-quality data about the hotel, market, and competitive set to adjust and create pricing strategy for the hotel.
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Key Takeaways – Global Alternative Data Provider Market:
- Based on organization size, large enterprises segment is expected to dominate the global alternative data provider market in 2021. However, small and medium enterprises segment is anticipated to witness highest growth rate in the global alternative data provider market during the forecast period. The use of alternative data by SME lenders is projected to create lucrative growth opportunities for this segment.
- By end-user, banking, financial services and insurance (BFSI) segment accounted for the significant market share in alternative data provider market in 2021. This is mainly attributed to the upsurge in demand for insightful data from various BFSI entities, including hedge funds, mutual funds, pension funds, unit trusts, private equity funds, and life insurance companies.
- By data type, credit and financial data segment is projected to witness highest growth rate during the forecast period. Alternative credit data in the consumer financial marketplace refers to information used to evaluate creditworthiness. Need for such alternative data for more insights to drive greater transparency and visibility around inquiry and payment behaviours is likely to drive the growth of this segment.
- Asia-Pacific alternative data provider market is expected to witness highest growth rate during the forecast period. Emerging trend in this region to use the data-driven research by investors will drive the growth of the market. In addition, emerging economies such as such as India, Singapore, Thailand, and China are seeing rising alternative data use-cases in BFSI, automotive, retail, and telecommunication enterprises.
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Competitor Insights:
Key players profiled in the global alternative data provider market are mentioned below:
- ACCERN CORPORATION
- Alqami Limited
- Brain Company
- Dataminr
- Exante Data
- FactSet
- InfoTrie
- Quandl Inc.
- QueXopa
- Quiver Quantitative, Inc
- RavenPack
- REFINITIV
- Suburbia
- Thinknum Alternative Data
- Vumonic technologies
- Other Market Participants
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Global Alternative Data Provider Market:
By Organization Size
- Small and Medium Enterprises
- Large Enterprises
By End-User
- Healthcare and Biomedical
- Government
- Media and Entertainment
- Education
- Banking, Financial Services and Insurance
- Travel and Hospitality
- Others
By Data Type
- Geospatial Data
- Commercial, Credit and Financial Data
- Consumer Data
- B2B Data
- Environment Data
- Real Estate Data
- Healthcare Data
- Others
By Pricing
- Subscription
- Per Project
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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