Total spending on financial market data, analysis and news rose 7 percent to a record $30.5 billion in 2018, according to a report Tuesday from Burton-Taylor International, a business consulting firm.
It’s the first time that such spending has passed the $30 billion mark. And the growth was the fastest since 2008.
“All three regions (Americas, EMEA, Asia) showed strong growth in 2018,” says Douglas B. Taylor, founder and 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.”
Bloomberg LP maintained its No. 1 position in the industry, with 32.5 percent market share, down from 33.2 percent in 2017. Its terminal count grew by over 5,000 users, according to Burton-Taylor.
No. 2 Reuters saw its market share also decline to 22 percent in 2018 from 22.5 percent in 2017.
They are 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 percent; however all but 5.1 percent came from the result of an acquisition.
