According to a new report by Burton-Taylor International Consulting, Global spending on financial market data and news continued its decade-long growth streak with revenues jumping 4.7% to a record $37.3 billion in 2022. 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.
Growth was primarily concentrated in the Americas increasing by 8.3% in 2022, outpacing the 1.8% rate in Asia while spending in EMEA grew by 1.0%. Market data spending in the Americas accounted for 50.8% of the global total, with EMEA and Asia accounting for 31.1 % and 18.1% of the total, respectively.
Bloomberg continues to claim the largest share of the global market data business, followed by Refinitiv and S&P Global Market Intelligence. S&P Global Market Intelligence reported the sharpest revenue growth in 2022, followed by Morningstar, Moody’s Analytics, and FactSet.
“As the uses of market data have extended beyond the trading desk into the middle- and back-office functions, budgets of investment banks and asset managers are increasingly inelastic,” says Hadley Weinberger, Sr. Analyst at Burton-Taylor. “The new forms of data delivery that emerged during previous years’ lockdowns, such as more flexible data feeds and growth in mobile solutions, have found a place in all businesses, boosting the business for market data providers.”