Alternative Data Market Drivers And Restraints By 2030
Alternative Data Industry Overview The global alternative data market size was valued at USD 2.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 54.4% from 2022 to 2030. The key drivers attributed to market expansion include the significant increase in the types of alternative information sources over the last decade. While web scraping and financial transactions are the most common sources, the emerging sources, including mobile devices, social media, satellites, sensors, IoT-enabled devices, and others, are gaining wider popularity. As such, the companies are actively expanding their offering by gathering information from all such sources. Gather more insights about the market drivers, restrains and growth of the Global Alternative Data Market The rising demand from hedge funds is expected to boost market growth significantly. More than half of hedge fund managers are now using it to gain a competitive edge by generating outperformance and s...