- Total spending hit a record $42 billion in 2023, driven by advanced technology
- According to a new report by Burton Taylor, a division of Parameta Solutions (owned by TP ICAP)
London and New York, April 26, 2024 – Global spending on financial market data and news continued its decade-long growth streak with revenues jumping 12.4% to a record $42 billion in 2023. Although real-time trading and data spending accounted for the largest share of total revenues, strong demand for Pricing, Reference and Valuation data drove spending according to a new report published today by Burton Taylor International Consulting, a division of Parameta Solutions.
Slightly more than one-half of revenue is earned in the Americas, up from 48% just five years ago. Earnings among the three major geographic regions have changed little in the past year, with EMEA generating 31% of the total and Asia owning just short of 19%.
Bloomberg continues to claim the largest share of the global market data business, followed by LSEG Data & Analytics and S&P Global Market Intelligence, which are the only three providers that claim double-digit market share. Moody’s Analytics reported the sharpest revenue growth in 2023, followed by FactSet and S&P Global Market Intelligence
“The rapid growth of AI and similar advanced analytical technologies have elevated the value of market data beyond the level we’ve seen in recent years, driving notably higher growth rates in 2023,” says Hadley Weinberger, Sr. Analyst at Burton-Taylor. “Financial institutions are already using generative AI and other artificial intelligence tools across all areas of their operation, driving demand for data not only for trading and risk but also to extract intelligence in other operational areas of the business.”
The 103-page Burton-Taylor Financial Market Data/Analysis Global Share & Segment Sizing 2023 report is available for immediate download by Burton Taylor research members through the website. The report can be purchased by visiting Burton Taylor’s website here Financial Market Data/Analysis: Global Share & Segment Sizing 2024 | Burton Taylor (tpicap.com) or by contacting orders@burton-taylor.com, +1 646 225-6696.
About Burton-Taylor International Consulting (www.tpicap.com/burtontaylor)
Burton-Taylor International Consulting, part of TP ICAP Group, is the recognized leader in information industry market research, strategy and business consulting. Burton-Taylor Exchange, Credit, Risk, Compliance, Media Intelligence, PR and Market Data share figures are seen as industry benchmark standard globally. For further information see www.burton-taylor.com .
About TP ICAP
- Through our people and technology, TP ICAP connects buyers and sellers in global financial, energy, and commodities markets.
- We are a world-leading provider of liquidity and data solutions, with a portfolio of businesses that provide broking services, data & analytics, and market intelligence that are trusted by clients globally.
- We operate from more than 60 offices across 28 countries, supporting brokers with award-winning technology.
- www.tpicap.com
