Latest News- Alternative Data Market: Credit and debit card transactions is expected to lead the Type segment during 2025-2029

The Alternative Data Market is being driven by Increased availability and diversity of data sources

The Alternative Data Market is expected to grow at a CAGR of 52.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 60318 million. Alternative data has emerged as a valuable tool for investors seeking to gain a competitive edge in the ever-evolving market landscape. Traditional financial metrics may fail to capture the intricacies of emerging industries and emerging trends. Alternative data, derived from non-traditional sources such as mobile location data and foot traffic trends, provides unique insights into consumer behavior and supply chain dynamics. By analyzing this data, investors can make more informed decisions regarding a company's revenue potential and overall health, enabling them to optimize their investment portfolios accordingly. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Credit and debit card transactions
  • Social media
  • Mobile application usage
  • Web scrapped data
  • Others
• End-user
  • BFSI
  • IT and telecommunication
  • Retail
  • Others
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increased availability and diversity of data sources
• Growing demand for alpha generation
• Advancements in data analytics and AI

However, the market also witnesses some limitations, which are as follows:

• Issues related to data quality and standardization
• Data privacy and ethical concerns
• Data interpretation and skill gap

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Market Scope in Alternative Data Market Research Report

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Research Analysis Overview

The Alternative Data Market encompasses various aspects of data monetization, including data-driven financial analysis, product development, and sales prediction. Data privacy and security are paramount, with data ethics and governance frameworks ensuring compliance. Big data analytics and machine learning drive innovation, while data-as-a-service, enrichment, and integration improve data quality. Data visualization tools and risk management systems help make data-driven decisions, and data management platforms facilitate efficient analysis of diverse data sources, such as credit card transactions, IoT devices, satellite data, and economic indicators. Data science applications, data-driven marketing, and data-driven customer experience are key areas of innovation, with data governance, data quality, and data cleansing ensuring data accuracy and reliability. Predictive analytics and data visualization are essential for gaining insights, while data management and data analysis are foundational skills. Data privacy regulations apply to all data, regardless of source, and data management, data visualization, and data lakes are crucial components of data-driven business models.

Market Research Overview

In the burgeoning Alternative Data Market, businesses harness various data sources to drive informed decision-making and gain a competitive edge. Satellite and weather data, real estate and construction records, e-commerce site transactions, email receipts, geo-location information, legislative context, mobile device usage, and energy consumption data are among the valuable inputs. Establishing strategic partnerships with reliable data providers and implementing advanced data inventory systems ensure seamless data sourcing and collection. The workforce comprises skilled professionals, including management and marketing executives, who oversee operations and maintain long-term relationships with data suppliers.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/