Alternative Data size estimation By company share Analysis
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The key drivers attributed to the market expansion include the significant increase in the types of alternative data sources over the last decade. While web scraping and financial transactions are the most common sources of alt data, 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 data from all such sources.
The rising demand for alternative data from hedge funds is expected to boost market growth significantly. The increasing emphasis on regulations such as California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR), along with other privacy regulations, pose threats to some of the alternative data sources. AI-enabled data processing increases the information generation and helps to extract hidden patterns in the data. As such, AI-based data analytics tools are anticipated to boost the market growth over the forecast period.
The Global Alternative Data Market Analysis to 2027 is a specialized and in-depth study of the alternative data market with a special focus on the global market trend analysis. The report aims to provide an overview of alternative data market with detailed market segmentation by data type, industry. The global alternative data market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading alternative data market player and offers key trends and opportunities in the alternative data market.
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