North America Alternative Data Market

The North America alternative data market was valued at US$ 2,522.66 million in 2022 and is expected to reach US$ 64,257.67 million by 2030; it is estimated to grow at a CAGR of 49.9% from 2022 to 2030.

Rising E-Commerce Industry Fuel the North America Alternative Data Market 

The growth in consumer disposable income and changes in their lifestyle and purchasing patterns are contributing to the increased purchasing of goods and products from online platforms. Consumers prefer shopping online as it offers a wide range of products and saves time and money compared to brick-and-mortar stores. In addition, the increasing penetration of the internet and smartphones is boosting customers' preference for online shopping, fueling the growth of the e-commerce industry. Consumers are majorly making their opinions regarding the products via online reviews. In such cases, web scraping helps alternative data providers analyze large volumes of reviews by extracting large amounts of data and using specialized analytic tools to extract critical insights. Thus, the rising e-commerce industry generates huge amounts of data, which creates the demand for alternative data by the e-commerce market players to efficiently analyze consumer behavior, contributing to the growth of the alternative data market.

North America Alternative Data Market Overview

North America is the early adopter of digital technology across the globe. In May 2012, the Digital Government Strategy was launched to bring the digital revolution across the region to be the pioneer in terms of economic growth and technological advancement. In May 2020, the United States Agency for International Development (USAID) released Digital Strategy for development and humanitarian assistance in the world's rapidly evolving digital landscape. This digital strategy was built to strengthen various industries, contributing to the region's economic growth. In addition, in 2018, Canada's first minister for digital government was appointed by the Prime Minister to strengthen the digital economy of the country. In 2021, the government of Canada announced its first digital-government strategy aimed at coordinating digital operations, modernizing its IT systems, advancing technology adoption, and improving service delivery. Thus, the rising digitalization fuels the adoption of digital solutions across the region, which further foster the demand for alternative data by the players to gain a competitive advantage in the market.

North America Alternative Data Market Revenue and Forecast to 2030 (US$ Mn)

North America Alternative Data Market Segmentation 

The North America alternative data market is segmented into data type, industry, and country.

Based on data type, the North America 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 North America 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 North America alternative data market is segmented to the US, Canada, and Mexico. The US dominated the North America alternative data market share in 2022. 

Dataminr Inc, Eagle Alpha Ltd, FactSet Research Systems Inc, Moody's Analytics Inc, Preqin Ltd, RavenPack International SL, Refinitiv Ltd, Retailstat LLC, Visible Alpha LLC, and Yipit LLC are some of the leading companies operating in the North America alternative data market.

North America Alternative Data Strategic Insights

Strategic insights for the North America Alternative Data provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Alternative Data Report Scope

North America Alternative Data Regional Insights

The geographic scope of the North America Alternative Data refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.