This statistic displays the economic benefits of Big Data analytics in the United Kingdom (UK) from 2015 to 2020, by industry. The report estimated that manufacturing would realize the largest benefits amounting to roughly 57.69 billion British pounds. Professional services were expected to gain benefits amounting to roughly 34.2 billion British pounds.

The Report Covers Financial Data Service Providers Industry and It is Segmented by Deployment (On-Premise, On-Cloud), Solution (Database Management and Planning, Analysis and Reporting), End-User Vertical (BFSI, Healthcare, Manufacturing, Government, IT and Telecom), and Geography. The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

BEA has developed a preliminary set of statistics measuring the contributions of space-related industries to the overall U.S. economy.These estimates give business leaders, policymakers, and the public a new tool to analyze the space economy and to inform investment decisions.Preliminary estimates of the U.S. space economy's GDP, gross output, private employment, and private compensation by industry were published in the December 2020 Survey of Current Business.

Graph and download economic data for Gross Domestic Product: All Industry Total in Vermont (VTNQGSP) from Q1 2005 to Q3 2024 about VT, GSP, industry, GDP, and USA.

Financial Research Software Market size was valued at USD 1.23 Billion in 2024 and is projected to reach USD 1.82 Billion by 2031, growing at a CAGR of 3.5% during the forecast period 2024-2031.

Global Financial Research Software Market Drivers

Growing Demand for Data Analytics: Increasing demand for data-driven insights and analytics in the financial sector drives the adoption of financial research software to analyze market trends, investment opportunities, risk factors, and financial performance metrics.

Technological Advancements: Ongoing advancements in financial research software, including artificial intelligence (AI), machine learning (ML), natural language processing (NLP), and big data analytics, enhance data processing capabilities, improve accuracy, and enable predictive modeling for investment decision-making.

Regulatory Compliance Requirements: Stringent regulatory requirements and compliance standards in the financial industry drive the adoption of financial research software to ensure regulatory compliance, risk management, and transparency in reporting and disclosure practices.

Investment Management and Portfolio Optimization: Financial research software enables investment professionals, portfolio managers, and asset allocators to conduct comprehensive research, perform quantitative analysis, and optimize investment portfolios to maximize returns and mitigate risks.

Rise of Robo-Advisors and Fintech Solutions: The rise of robo-advisors, digital wealth management platforms, and fintech solutions drives demand for financial research software with automated investment algorithms, portfolio rebalancing tools, and personalized financial advice for retail investors and wealth management clients.

Globalization and Market Integration: Globalization of financial markets and increased market integration drive the need for financial research software that provides real-time market data, news feeds, and economic indicators to support informed decision-making in a dynamic and interconnected marketplace.

Shift Towards ESG Investing: The growing focus on environmental, social, and governance (ESG) factors in investment decision-making drives demand for financial research software with ESG data integration, sustainability metrics, and impact analysis tools to support responsible investing strategies.

Risk Management and Stress Testing: Financial research software enables financial institutions and investment firms to conduct risk assessments, scenario analysis, and stress testing to evaluate portfolio resilience, liquidity risk, credit risk, and market volatility in various market conditions.

Alternative Data Sources and Quantitative Analysis: Financial research software integrates alternative data sources, such as social media sentiment, satellite imagery, and consumer behavior data, into quantitative models and analytical frameworks to gain insights into market trends and investment opportunities.

Demand for Customization and Integration: Financial institutions and investment professionals seek customizable financial research software solutions that can be tailored to their specific needs, integrated with existing systems and workflows, and scalable to accommodate future growth and expansion.

The global big data market is forecasted to grow to 103 billion U.S. dollars by 2027, more than double its expected market size in 2018. With a share of 45 percent, the software segment would become the large big data market segment by 2027.

What is Big data?

Big data is a term that refers to the kind of data sets that are too large or too complex for traditional data processing applications. It is defined as having one or some of the following characteristics: high volume, high velocity or high variety. Fast-growing mobile data traffic, cloud computing traffic, as well as the rapid development of technologies such as artificial intelligence (AI) and the Internet of Things (IoT) all contribute to the increasing volume and complexity of data sets.

Big data analytics

Advanced analytics tools, such as predictive analytics and data mining, help to extract value from the data and generate new business insights. The global big data and business analytics market was valued at 169 billion U.S. dollars in 2018 and is expected to grow to 274 billion U.S. dollars in 2022. As of November 2018, 45 percent of professionals in the market research industry reportedly used big data analytics as a research method.

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Alternative Data Market Size 2025-2029

The alternative data market size is forecast to increase by USD 60.32 billion at a CAGR of 52.5% between 2024 and 2029.

The market is experiencing significant growth due to the increased availability and diversity of data sources. This trend is driven by the rise of alternative data-driven investment strategies, which offer unique insights and opportunities for businesses and investors. However, challenges persist in the form of issues related to data quality and standardization. big data analytics and machine learning help businesses gain insights from vast amounts of data, enabling data-driven innovation and competitive advantage. Data governance, data security, and data ethics are crucial aspects of managing alternative data.
As more data becomes available, ensuring its accuracy and consistency is crucial for effective decision-making. The market analysis report provides an in-depth examination of these factors and their impact on the growth of the market. With the increasing importance of data-driven strategies, staying informed about the latest trends and challenges is essential for businesses looking to remain competitive in today's data-driven economy.

What will be the Size of the Alternative Data Market During the Forecast Period?

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Alternative data, the non-traditional information sourced from various industries and domains, is revolutionizing business landscapes by offering new opportunities for data monetization. This trend is driven by the increasing availability of data from various sources such as credit card transactions, IoT devices, satellite data, social media, and more. Data privacy is a critical consideration in the market. With the increasing focus on data protection regulations, businesses must ensure they comply with stringent data privacy standards. Data storytelling and data-driven financial analysis are essential applications of alternative data, providing valuable insights for businesses to make informed decisions. Data-driven product development and sales prediction are other significant areas where alternative data plays a pivotal role.
Moreover, data management platforms and analytics tools facilitate data integration, data quality, and data visualization, ensuring data accuracy and consistency. Predictive analytics and data-driven risk management help businesses anticipate trends and mitigate risks. Data enrichment and data-as-a-service are emerging business models that enable businesses to access and utilize alternative data. Economic indicators and data-driven operations are other areas where alternative data is transforming business processes.

How is the Alternative Data Market Segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

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

By Type Insights

The credit and debit card transactions segment is estimated to witness significant growth during the forecast period.

Alternative data derived from card and debit card transactions offers valuable insights into consumer spending behaviors and lifestyle choices. This data is essential for market analysts, financial institutions, and businesses seeking to enhance their strategies and customer experiences. The two primary categories of card transactions are credit and debit. Credit card transactions provide information on discretionary spending, luxury purchases, and credit management skills. In contrast, debit card transactions reveal essential spending habits, budgeting strategies, and daily expenses. By analyzing this data using advanced methods, businesses can gain a competitive advantage, understand market trends, and cater to consumer needs effectively. IT & telecommunications companies, hedge funds, and other organizations rely on web scraped data, social and sentiment analysis, and public data to supplement their internal data sources. Adhering to GDPR regulations ensures ethical data usage and compliance.

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The credit and debit card transactions segment was valued at USD 228.40 million in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 56% to the growth of the global market during the forecast period.

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Graph and download economic data for Real Gross Domestic Product: All Industry Total in the Plains BEA Region (PLNSRQGSP) from Q1 2005 to Q3 2024 about Plains BEA Region, GSP, real, industry, GDP, and USA.

United States Direct Investment Abroad: Income: Other Industries data was reported at 11.793 USD bn in Mar 2018. This records a decrease from the previous number of 12.733 USD bn for Dec 2017. United States Direct Investment Abroad: Income: Other Industries data is updated quarterly, averaging 7.095 USD bn from Mar 2000 (Median) to Mar 2018, with 73 observations. The data reached an all-time high of 14.268 USD bn in Jun 2002 and a record low of 2.103 USD bn in Mar 2003. United States Direct Investment Abroad: Income: Other Industries data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.O009: Direct Investment Abroad: By Industry: By NAICS: Income.

United States GDP: II: saar: RT: Other Retail data was reported at 603.291 USD bn in Sep 2024. This records an increase from the previous number of 598.563 USD bn for Jun 2024. United States GDP: II: saar: RT: Other Retail data is updated quarterly, averaging 333.694 USD bn from Mar 2005 (Median) to Sep 2024, with 79 observations. The data reached an all-time high of 680.910 USD bn in Jun 2022 and a record low of 205.754 USD bn in Dec 2008. United States GDP: II: saar: RT: Other Retail data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s United States – Table US.A054: NIPA 2023: GDP by Industry: Intermediate Inputs: Current Price.

United States GDP: II: 2017p: saar: Private Service Producing Industries data was reported at 10,836.037 USD bn in Sep 2024. This records an increase from the previous number of 10,714.667 USD bn for Jun 2024. United States GDP: II: 2017p: saar: Private Service Producing Industries data is updated quarterly, averaging 8,126.230 USD bn from Mar 2005 (Median) to Sep 2024, with 79 observations. The data reached an all-time high of 10,836.037 USD bn in Sep 2024 and a record low of 6,462.653 USD bn in Dec 2009. United States GDP: II: 2017p: saar: Private Service Producing Industries data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s United States – Table US.A056: NIPA 2023: GDP by Industry: Intermediate Inputs: Chain Linked 2017 Price.

United States GDP: VA: Pvt: PI: Mfg: DG: Wood Products data was reported at 153.345 2017=100 in Sep 2024. This records a decrease from the previous number of 162.128 2017=100 for Jun 2024. United States GDP: VA: Pvt: PI: Mfg: DG: Wood Products data is updated quarterly, averaging 97.192 2017=100 from Mar 2005 (Median) to Sep 2024, with 79 observations. The data reached an all-time high of 196.569 2017=100 in Jun 2022 and a record low of 70.445 2017=100 in Sep 2011. United States GDP: VA: Pvt: PI: Mfg: DG: Wood Products data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s United States – Table US.A044: NIPA 2023: GDP by Industry: Value Added: Price Index: 2017=100.

United States GDP: VA: Pvt: PI: IF: Motion Picture & Sound Recording Industries data was reported at 102.929 2017=100 in Sep 2024. This records an increase from the previous number of 101.006 2017=100 for Jun 2024. United States GDP: VA: Pvt: PI: IF: Motion Picture & Sound Recording Industries data is updated quarterly, averaging 100.003 2017=100 from Mar 2005 (Median) to Sep 2024, with 79 observations. The data reached an all-time high of 119.280 2017=100 in Mar 2005 and a record low of 93.705 2017=100 in Jun 2020. United States GDP: VA: Pvt: PI: IF: Motion Picture & Sound Recording Industries data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s United States – Table US.A045: NIPA 2023: GDP by Industry: Value Added: Price Index: 2017=100.

Graph and download economic data for Real Gross Domestic Product: Manufacturing (31-33) in the Far West BEA Region (FWSTMANRQGSP) from Q1 2005 to Q3 2024 about Far West BEA Region, GSP, private industries, private, manufacturing, real, industry, GDP, and USA.

This filtered view presents Real Gross Domestic Product for the State of Iowa by year beginning in 1997.

Gross domestic product (GDP) is the measure of the market value of all final goods and services produced within Iowa in a particular period of time. In concept, an industry's GDP by state, referred to as its "value added", is equivalent to its gross output (sales or receipts and other operating income, commodity taxes, and inventory change) minus its intermediate inputs (consumption of goods and services purchased from other U.S. industries or imported). The Iowa GDP a state counterpart to the Nation's GDP, the Bureau's featured and most comprehensive measure of U.S. economic activity. Iowa GDP differs from national GDP for the following reasons: Iowa GDP excludes and national GDP includes the compensation of federal civilian and military personnel stationed abroad and government consumption of fixed capital for military structures located abroad and for military equipment, except office equipment; and Iowa GDP and national GDP have different revision schedules. GDP is reported in millions of current dollars.

Real GDP is an inflation-adjusted measure of Iowa's gross product that is based on national prices for the goods and services produced within Iowa. The real estimates of gross domestic product (GDP) are measured in millions of chained dollars, but have been multiplied by 1,000,000 to display in dollars for visualization purposes. Values are only accurate to the nearest $100,000.

Gross Value Added Index: sa: State of São Paulo: Industry data was reported at 92.960 2010=100 in Sep 2024. This records a decrease from the previous number of 94.312 2010=100 for Jun 2024. Gross Value Added Index: sa: State of São Paulo: Industry data is updated quarterly, averaging 91.110 2010=100 from Mar 2002 (Median) to Sep 2024, with 91 observations. The data reached an all-time high of 107.672 2010=100 in Sep 2013 and a record low of 74.049 2010=100 in Mar 2002. Gross Value Added Index: sa: State of São Paulo: Industry data remains active status in CEIC and is reported by State System of Data Analysis Foundation. The data is categorized under Brazil Premium Database’s National Accounts – Table BR.AH023: SNA 2008: Gross Value Added: Southeast: São Paulo: State System of Data Analysis Foundation: Quarterly. [COVID-19-IMPACT]

United States GDP: II: PI: IF: Publishing Industries: Incl Software data was reported at 190.284 USD bn in 2023. This records a decrease from the previous number of 195.685 USD bn for 2022. United States GDP: II: PI: IF: Publishing Industries: Incl Software data is updated yearly, averaging 126.396 USD bn from Dec 1997 (Median) to 2023, with 27 observations. The data reached an all-time high of 195.685 USD bn in 2022 and a record low of 95.193 USD bn in 1997. United States GDP: II: PI: IF: Publishing Industries: Incl Software data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s United States – Table US.A055: NIPA 2023: GDP by Industry: Intermediate Inputs: Current Price: Annual.

Time Series Analysis Software Market size was valued at USD 1.8 Billion in 2024 and is projected to reach USD 4.7 Billion by 2031, growing at a CAGR of 10.5% during the forecast period 2024-2031.

Global Time Series Analysis Software Market Drivers

Growing Data Volumes: The exponential growth in data generated across various industries necessitates advanced tools for analyzing time series data. Businesses need to extract actionable insights from large datasets to make informed decisions, driving the demand for time series analysis software.

Increasing Adoption of IoT and Connected Devices: The proliferation of Internet of Things (IoT) devices generates continuous streams of time-stamped data. Analyzing this data in real-time helps businesses optimize operations, predict maintenance needs, and enhance overall efficiency, fueling the demand for time series analysis tools.

Advancements in Machine Learning and AI: Integration of machine learning and artificial intelligence (AI) with time series analysis enhances predictive capabilities and automates the analysis process. These advancements enable more accurate forecasting and anomaly detection, attracting businesses to adopt sophisticated analysis software.

Need for Predictive Analytics: Businesses are increasingly focusing on predictive analytics to anticipate future trends and behaviors. Time series analysis is crucial for forecasting demand, financial performance, stock prices, and other metrics, driving the market growth.

Industry 4.0 and Automation: The push towards Industry 4.0 involves automating industrial processes and integrating smart technologies. Time series analysis software is essential for monitoring and optimizing manufacturing processes, predictive maintenance, and supply chain management in this context.

Financial Sector Growth: The financial industry extensively uses time series analysis for modeling stock prices, risk management, and economic forecasting. The growing complexity of financial markets and the need for real-time data analysis bolster the demand for specialized software.

Healthcare and Biomedical Applications: Time series analysis is increasingly used in healthcare for monitoring patient vitals, managing medical devices, and analyzing epidemiological data. The focus on personalized medicine and remote patient monitoring drives the adoption of these tools.

Climate and Environmental Monitoring: Governments and organizations use time series analysis to monitor climate change, weather patterns, and environmental data. The need for accurate predictions and real-time monitoring in environmental science boosts the market.

Regulatory Compliance and Risk Management: Industries such as finance, healthcare, and energy face stringent regulatory requirements. Time series analysis software helps in compliance by providing detailed monitoring and reporting capabilities, reducing risks associated with regulatory breaches.

Emergence of Big Data and Cloud Computing: The adoption of big data technologies and cloud computing facilitates the storage and analysis of large volumes of time series data. Cloud-based time series analysis software offers scalability, flexibility, and cost-efficiency, making it accessible to a broader range of businesses.

According to Cognitive Market Research, the global Financial Data Service market size will be USD 24152.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 8.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 9661.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 7245.75 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 5555.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 1207.63 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 483.05 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.
Datafeed/API solutions are the dominant segment, as they allow seamless data integration into existing systems and platforms, making them ideal for companies requiring real-time data across multiple applications

Market Dynamics of Financial Data Service Market

Key Drivers for Financial Data Service Market

Increased Data-Driven Decision-Making to Boost Market Growth

As digital transformation sweeps through financial services, data-driven decision-making has become essential for businesses to remain competitive. Institutions, both financial and non-financial, are increasingly leveraging financial data to guide strategic investments, manage risks, and streamline operations. By utilizing real-time data and predictive analytics, companies gain actionable insights to optimize their investment portfolios and financial planning. With the enhanced capability to analyze data trends and assess market scenarios, businesses can mitigate risks more effectively, making this driver critical to the growth of the financial data service market. For instance, in September 2022, Alibaba Cloud, the digital technology and intellectual backbone of Alibaba Group launched a comprehensive suite of Alibaba Cloud for Financial Services solutions. Comprising over 70 products, these solutions are designed to help financial services institutions of all sizes across banking, FinTech, insurance, and securities, digitalize their operations

Advancements in Analytics Technology to Drive Market Growth

The integration of advanced analytics technologies like artificial intelligence (AI) and machine learning (ML) in financial data services has significantly enhanced the accuracy and scope of market insights. AI and ML enable companies to process vast amounts of financial data, identify patterns, and make predictions, thus facilitating strategic planning and investment optimization. These technologies also allow for real-time insights, giving firms a competitive advantage in rapidly evolving markets. With continuous improvements in AI and ML, the demand for advanced data services is expected to grow, positioning this as a key driver of market expansion.

Restraint Factor for the Financial Data Service Market

High Cost of Data Services, will Limit Market Growth

The high cost associated with premium financial data services is a significant restraint, particularly for small and medium-sized enterprises (SMEs). Many advanced platforms and data feeds come with substantial subscription fees, limiting their accessibility to larger organizations with more considerable budgets. This cost barrier restricts smaller firms from fully integrating advanced data insights into their operations. As a result, high subscription costs prevent widespread adoption among SMEs, hindering the financial data service market’s overall growth potential.

Impact of Covid-19 on the Financial Data Service Market

Covid-19 significantly impacted the Financial Data Service Market as companies increasingly relied on accurate data analytics for rapid decision-making amid market volatility. During the pandemic, financial data providers observed heightened demand for real-time and historical data to model economic scenarios and assess risks accurately. This shift spurred technological advancements a...

This filtered view presents Real Gross Domestic Product for the accommodation and food services sector and its subsectors in the State of Iowa by year beginning in 1997.

Gross domestic product (GDP) is the measure of the market value of all final goods and services produced within Iowa in a particular period of time. In concept, an industry's GDP by state, referred to as its "value added", is equivalent to its gross output (sales or receipts and other operating income, commodity taxes, and inventory change) minus its intermediate inputs (consumption of goods and services purchased from other U.S. industries or imported). The Iowa GDP a state counterpart to the Nation's GDP, the Bureau's featured and most comprehensive measure of U.S. economic activity. Iowa GDP differs from national GDP for the following reasons: Iowa GDP excludes and national GDP includes the compensation of federal civilian and military personnel stationed abroad and government consumption of fixed capital for military structures located abroad and for military equipment, except office equipment; and Iowa GDP and national GDP have different revision schedules. GDP is reported in millions of current dollars.

Real GDP is an inflation-adjusted measure of Iowa's gross product that is based on national prices for the goods and services produced within Iowa. The real estimates of gross domestic product (GDP) are measured in millions of chained dollars, but have been multiplied by 1,000,000 to display in dollars for visualization purposes. Values are only accurate to the nearest $100,000.