Spending on financial market data/analysis and news broke the USD30 billion mark for the first time ever, in 2018. The 7.0% growth (5.9% constant currency) was the best single-year performance since 2008, according to a new report published today by Burton-Taylor International Consulting, part of TP ICAP's Data & Analytics division.
"All three regions (Americas, EMEA, Asia) showed strong growth in 2018," says Douglas B. Taylor, founder & Managing Director of Burton-Taylor. "The combination of meeting demanding regulatory requirements and utilizing the improving ability of Artificial Intelligence to digest and interpret data has fueled an insatiable appetite for financial market information."
The report finds that global spend was up 7.0%, to reach USD30,511.3m. On a constant currency basis, the 2018 growth was 5.9%, as FX adjustments robbed the market about USD312m.
At 32.5%, Bloomberg continues to command highest revenue share and managed to increase terminal counts by over 5,000 users. Refinitiv (combined with Reuters News) delivered their best revenue performance since 2011 to maintain the industry's second position, followed by S&P Global Market Intelligence, Moody's Analytics and FactSet Research Systems. Of the largest global players, Moody's Analytics led year-on-year revenue growth with 32.7%, however all but 5.1% the result of acquisition.
Risk & Compliance users have delivered the highest compound annual growth rate (CAGR) over the past five years, 9.5%. Pricing, Reference & Valuation products and Portfolio Management & Analytics products were in highest demand, growing an average of 12.2% and 8.9% per year, respectively, over the same five-year period.
The report shows that Moody's Analytics, S&P Global Market Intelligence, FactSet and IHS Markit delivered the highest five-year CAGR (including acquisitive revenue) among market data/analysis or news vendors with at least USD500m in global revenue.
