Financial Data Service Providers in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: January 2024
NAICS OD5491Revenue
$22.1bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
65,434
Businesses
407
Wages
$X.Xbn
Financial Data Service Providers in the US industry analysis
Financial data service providers offer financial market data and related services, primarily real-time feeds, portfolio analytics, research, pricing and valuation data, to financial institutions, traders and investors. Companies aggregate data and content from stock exchange feeds, broker and dealer desks and regulatory filings to distribute financial news and business information to the investment community.Recent globalization of the world capital market has benefited the financial sector and increased trading speed. Businesses rely on real-time data more than ever to help them make informed decisions. An easy-to-use interface that shows customized, relevant information is vital for clients when considering a data service provider. During times of economic uncertainty, this information becomes more crucial than ever. These trends have resulted in growing revenue, which has risen at a CAGR of 4.5% to $22.1 billion over the next five years, including a 2.1% increase in 2023 alone.Inflationary concerns and rising interest rates are set to constrain corporate profit. Even so, many companies will take on new clients as financial data helps them gain insight into how to operate their business amid uncertainty. With technology constantly advancing, service providers will continue investing in research and development to improve their products and services and best serve their clients. While this may lead to new companies joining the industry, larger providers will resume consolidation activity to expand their customer base. Overall, revenue is expected to grow at a CAGR of 2.5% to $25.1 billion over the five years to 2028.
Trends and Insights
- Economic uncertainty has plagued most of this period. While this spelled disaster for other industries, financial data service providers thrived as their clients relied on their products and services to help them navigate through the turmoil.
- The need for real-time data continues as the economy faces uncertainty following inflationary concerns. Data service providers serve as a link between major financial institutes and the stock exchange.
- New York City is one of the world's largest financial capitals. It is home to two of the largest stock exchanges (NYSE and NASDAQ), large banks and financial data service providers.
- Customers favor reputable companies, making it hard for newer entrants to compete. The four largest companies account for more than half of the market.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 4.5 % over the past five years, to reach an estimated $22.1bn in 2024.
Trends and Insights
Investment professionals rely on data
- More than half of the end users are companies and professionals who work in financial investing and trading. Since most assets are actively managed and traded, clients need real-time financial data to make data-driven decisions.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
New and customers products present opportunities
- With the recent Environmental, Social and Governance (ESG) regulations proposed by the US Securities and Exchange Commission (SEC), companies will incorporate data concerning ESG-related issues in their reporting. ESG will be an essential value-added service moving forward as the general public continues to voice environmental concerns.
Biggest companies in the Financial Data Service Providers in the US
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Bloomberg Inc. | 2,492.8 | 633.3 | 25.4 | |
S&P Global Inc. | 1,950.1 | 547.1 | 28.1 | |
Refinitiv Us Llc | 1,739.9 | 304.4 | 17.5 |
To view the market share and analysis for all 5 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Pricing and reference data, Real-time data feeds and Hosted online applications and work stations. Pricing and reference data is the largest segment of the Financial Data Service Providers in the US.
Trends and Insights
Real-time data allows for quick decisions
- Real-time trading data is data that is available immediately after collection. It is the most popular product offering and generates half of the data service provider's revenue.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- News Syndicates in the US
Complementors
- Market Research in the US
- Business Analytics & Enterprise Software Publishing in the US
International industries
- Market Research in Canada
- Market Research and Statistical Services in Australia
- Advertising and Market Research Services in New Zealand
- Market Research & Public Opinion Polling in the UK
- Market Research in China
Table of Contents
About this industry
Industry definition
The Financial Data Service Providers industry provides financial market data to financial firms, traders and investors. The data that vendors distribute comes from stock exchange feeds, broker and dealer desks and regulatory filings. This industry is a section of the larger business information reseller industry and only includes third-party resellers of information (i.e. vendors). It does not include exchanges or securities dealers and brokers.
What's included in this industry?
Providing financial data and researchProviding fixed income market dataProviding balance sheet dataProviding regulatory compliance supportCompanies
Bloomberg Inc.S&P Global Inc.Refinitiv Us LlcPurchase this report to view all 5 major companies in this industry.
Related Terms
REAL TIME DATACORPORATE PROFITPIRACYIndustry Code
NAICS 54172 - Financial Data Service Providers in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Economic uncertainty has plagued most of this period. While this spelled disaster for other industries, financial data service providers thrived as their clients relied on th...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The need for real-time data continues as the economy faces uncertainty following inflationary concerns. Data service providers serve as a link between major financial institu...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
New York City is one of the world's largest financial capitals. It is home to two of the largest stock exchanges (NYSE and NASDAQ), large banks and financial data service pro...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Customers favor reputable companies, making it hard for newer entrants to compete. The four largest companies account for more than half of the market.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
FactSet was added to the S&P 500 in December 2021. Its strong performance has represented its growing competitiveness as a financial data service provider.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Bloomberg Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of S&P Global Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Refinitiv Us Llc's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 2 additional companies
Detailed analysis
- Description and key data for Bloomberg Inc., and factors influencing its performance in the industry
- Description and key data for S&P Global Inc., and factors influencing its performance in the industry
- Description and key data for Refinitiv Us Llc, and factors influencing its performance in the industry
- Description, key data and performance trends for 2 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Data service providers must make sure they are following copyright laws. Using content from other providers without permission can lead to harsh penalties under the Digital M...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
The need for financial data increases during economic uncertainty. The pandemic and inflationary concerns propelled profit upward during the period.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Financial Data Service Providers in the US industry in United States in 2024?
The market size of the Financial Data Service Providers in the US industry in United States is $22.1bn in 2024.
How many businesses are there in the Financial Data Service Providers in the US industry in 2024?
There are 407 businesses in the Financial Data Service Providers in the US industry in United States, which has declined at a CAGR of 9.0 % between 2019 and 2024.
Has the Financial Data Service Providers in the US industry in United States grown or declined over the past 5 years?
The market size of the Financial Data Service Providers in the US industry in United States has been growing at a CAGR of 4.5 % between 2019 and 2024.
What is the forecast growth of the Financial Data Service Providers in the US industry in United States over the next 5 years?
Over the next five years, the Financial Data Service Providers in the US industry in United States is expected to grow.
What are the biggest companies in the Financial Data Service Providers in the US market in United States?
The biggest companies operating in the Financial Data Service Providers market in United States are Bloomberg Inc., S&P Global Inc. and Refinitiv Us Llc
What does the Financial Data Service Providers in the US in United States include?
Providing financial data and research and Providing fixed income market data are part of the Financial Data Service Providers in the US industry.
Which companies have the highest market share in the Financial Data Service Providers in the US in United States?
The company holding the most market share in United States is Bloomberg Inc..
How competitive is the Financial Data Service Providers in the US industry in United States?
The level of competition is high and increasing in the Financial Data Service Providers in the US industry in United States.
