The Asia Pacific alternative data market was valued at US$ 1,220.24 million in 2022 and is expected to reach US$ 42,401.00 million by 2030; it is estimated to grow at a CAGR of 55.8% from 2022 to 2030.
Growth of Energy Industry Fuels the Asia Pacific Alternative Data Market
Energy is considered one of the largest and fastest-growing industries. According to Exxon Mobil Corporation, the global energy demand will rise by ~15% in 2050 compared to 2021 due to population and prosperity. The rise in population will generate the demand for electric power, contributing to the growing need and demand from various end-use industries, such as commercial transportation, manufacturing, construction, and infrastructure. All these industries require electricity for workflow at some point.
Energy companies can leverage the benefits of alternative data into their R&D, marketing, investment, risk analysis, and other key processes to fuel their business growth. It will help business managers and investors to make informed business decisions with the help of real-time business insights. The benefits of adopting digital solutions in the energy industry can further generate the demand for the use of alternative data. Therefore, the growing energy industry is anticipated to provide growth opportunities for the Asia Pacific alternative data market during the forecast period.
Asia Pacific Alternative Data Market Overview
Asia Pacific (APAC) is a diverse region with a large population and a growing digital economy, contributing to the surge in data. APAC has been at the forefront of data computing adoption due to the proliferation of IoT devices, smart cities initiatives, and the need for real-time data processing. APAC has witnessed a significant increase in internet penetration rates, leading to a surge in data consumption and the need for localized data processing. According to GSM Association, the IT industry plays a vital role in extending connectivity across the world. In 2021, the number of internet subscribers reached 4.2 billion globally. Furthermore, APAC accounted for 59% of internet subscribers in 2021, and is projected to reach ~62% by 2025. The rise of internet penetration is directly linked to increasing internet usage. Moreover, the rollout of 5G networks is expected to increase internet usage by enabling faster data speed, lower latency, and higher data device density. According to GSM Association, the 5G users in APAC reached 8% in 2021, and is likely to increase up to 25% by 2025. Therefore, the rise in internet penetration leads to increased data generation, which needs to be processed and analyzed to gain insights. Alternative data play a crucial role in providing insights to enhance business growth, which further leads to its adoption among various companies.
Asia Pacific Alternative Data Market Revenue and Forecast to 2030 (US$ Mn)
Asia Pacific Alternative Data Market Segmentation
The Asia Pacific alternative data market is segmented into data type, industry, and country.
Based on data type, the Asia Pacific alternative data market is segmented credit and debit card transactions, email receipts, geo-location (foot traffic) records, mobile application usage, satellite and weather data, and others. The credit and debit card transactions segment held the largest market share in 2022.
Based on industry, the Asia Pacific alternative data market is segmented into automotive, BFSI, energy industrial, IT and telecommunications, media & entertainment, and others. The BFSI segment held the largest market share in 2022.
Based on country, the Asia Pacific alternative data market is segmented to Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific alternative data market share in 2022.
Dataminr Inc, Eagle Alpha Ltd, FactSet Research Systems Inc, Moody's Analytics Inc, Preqin Ltd, Refinitiv Ltd, and Visible Alpha LLC are some of the leading companies operating in the Asia Pacific alternative data market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 1,220.24 Million |
| Market Size by 2030 | US$ 42,401.00 Million |
| CAGR (2022 - 2030) | 55.8% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Data Type
|
|
Regions and Countries Covered
|
|
| Asia-Pacific | China, India, Japan, Australia, Rest of Asia-Pacific |
| Market leaders and key company profiles |
|
The Asia Pacific Alternative Data Market is valued at US$ 1,220.24 Million in 2022, it is projected to reach US$ 42,401.00 Million by 2030.
As per our report Asia Pacific Alternative Data Market, the market size is valued at US$ 1,220.24 Million in 2022, projecting it to reach US$ 42,401.00 Million by 2030. This translates to a CAGR of approximately 55.8% during the forecast period.
The Asia Pacific Alternative Data Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Alternative Data Market report:
The Asia Pacific Alternative Data Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Alternative Data Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Alternative Data Market value chain can benefit from the information contained in a comprehensive market report.
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