According to the latest report by Reports and Data, the global Alternative Data Analytics Market was worth USD 1.8 billion in 2022 and is projected to grow at a revenue CAGR of 22.6% over the forecast period. The increase in the availability of Alternative Data Analytics sources is a significant driver of this revenue growth. Digital technology and the proliferation of data-generating devices and applications have led to a vast amount of data available for analysis, including data from sources such as social media platforms, website traffic, and sensor networks. As a result, Alternative Data Analytics providers can now collect and analyze data from a diverse range of sources.
The revenue growth of the market is also driven by the development of data sources and advancements in data analytics technologies. Machine learning and artificial intelligence (AI) have made it possible to quickly and accurately analyze vast amounts of information. This enables Alternative Data Analytics providers to offer insights and projections that were previously difficult to obtain using traditional data sources.
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Some Key Highlights from the Report
- The Alternative Data Analytics market is classified based on various industries such as automotive, BFSI, energy, industrial, IT telecommunications, media entertainment, real estate construction, retail, transportation logistics, and others. With the rising demand for electric cars and the progress of self-driving vehicles, the automotive sector is expected to dominate the revenue share in the foreseeable future. This category encompasses two-wheelers, commercial vehicles, and passenger cars. Additionally, the adoption of connected vehicles and advanced driver assistance systems (ADAS) is likely to benefit the automotive industry by improving safety, efficiency, and driver experience.
- Information obtained from credit and debit card transactions is a valuable source of data that can reveal important insights into consumer spending behaviours and patterns. Financial institutions can leverage this data to detect and prevent fraudulent activities, gain insights into customer spending habits, and create targeted marketing campaigns. Additionally, businesses can utilize this data to conduct market research and analysis, gaining a better understanding of consumer spending behaviours and preferences, which can inform their product development and advertising strategies.
Top 10 Companies Operating in the Global Alternative Data Analytics Market:
Bloomberg L.P., Thasos Group, Quandl Inc., 1010data, Second Measure, YipitData, Kenetic, Neudata, Analec Infotech, and SP Global Market Intelligence
Data Type Outlook (Revenue, USD Million; 2019-2032)
- Credit Debit Card Transactions
- Email Receipts
- Geo-Location (Foot Traffic) Records
- Mobile Application Usage
- Satellite Weather Data
- Social Sentiment Data
- Web Scraped Data
- Web Traffic
- Other Data Types
Industry Outlook (Revenue, USD Million; 2019-2032)
- Automotive
- BFSI
- Energy
- Industrial
- IT Telecommunications
- Media Entertainment
- Real Estate Construction
- Retail
- Transportation Logistics
- Other Industries
End-user Outlook (Revenue, USD Million; 2019-2032)
- Hedge Fund Operators
- Investment Institutions
- Retail Companies
- Other End-users
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Takeaways of the Competitive Overview Section:
- Overview of the company profiles of each market player
- Industrial chain analysis of each player
- Revenue share contribution
- Sales network and distribution channels and net profits and losses of each company
- Key business growth strategies are undertaken by these players
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