Heightened market volatility stemming from US tariff policies, combined with increasing demand for intelligence on AI-driven industry transformation, contributed to Data Vendors recording $49.2 billion in revenue in 2025, representing a 6.5% annual increase.
The confluence of real-time risk evaluation requirements, heightened demand for specialized private market valuation data, and the proliferation of AI suggests that record revenue growth among data providers is likely to continue unabated.
The financial market data industry posted another record year in 2025, with global spending climbing 6.5% to $49.2 billion, reflecting a broader shift away from static end-of-day reporting and toward real-time analytics, alternative data, and AI-powered intelligence. Although real-time trading and data spending accounted for the largest share of total revenues at over 35%, strong demand for Portfolio Management & Analytics and Pricing, Reference and Valuation data drove spending. Although News was the smallest product type, it did have the most significant YoY increase at 7.4%.
Growth was primarily concentrated in Asia at 7.4%, with EMEA at 7.0% and the Americas at 5.8%. Market data spending in the Americas accounted for 50.30% of the global total, with EMEA at 31.5% and Asia at 18.2%.
Bloomberg, LSEG, and S&P Global Market Intelligence maintained their position as the most prominent global market data vendors. SIX Financial reported the sharpest revenue growth rate in 2025, followed by Moody’s Analytics, Dow Jones, LSEG.
Financial market data demand in 2025 was propelled by critical Artificial Intelligence integration needs and real-time risk evaluation amid heightened volatility. The focus has moved from static end-of-day reporting to real-time analytics and alternative data sources, increasingly powered by AI-driven insights. Surging demand, limited competition among data suppliers, and intricate licensing terms have made it difficult for financial institutions to control costs and maintain compliance with data usage requirements.
Despite ongoing financial pressures on customers, the market data industry's robust 2025 performance signals continued growth ahead. Financial market data has proven largely inelastic - a fixture in company budgets that endures regardless of broader market conditions. Whether markets are rising or falling, demand for data shows no signs of slowing.
