Alternative data budget confidence hits 3-year high while AI returns remain efficiency-led - Neudata's 2026 industry report

LONDON, Sept. 17, 2026 /PRNewswire/ -- Confidence in alternative data budgets has reached its highest level in 3 years, with 97% of data buyers expecting their spend to increase or hold steady over the next 12 months, according to Neudata's new industry report, The Future of Alternative and Market Data 2026. Now in its third year, the survey tracks how investment firms are budgeting for alternative and market data, adopting AI tools and navigating a fast-changing vendor landscape.

The report is based on 191 responses from data providers and buyers globally – Neudata's largest sample to date, with responses from quant, multi-strategy, discretionary and macro funds, as well as AI research labs. 60% of buyer respondents manage over $1bn in assets.

Key findings from the report include:

• Budget optimism reaches a 3-year high – 97% of data buyers expect their alternative data spend to increase or hold steady in the year ahead, up from 89% last year, the strongest confidence Neudata has recorded in 3years of the survey.
• AI returns are showing up in efficiency more than performance – 56% of buyers said their firm has measured a tangible return from AI deployment over the past 12 months. Efficiency gains were the most commonly cited form, at 41%, against 17% who credited AI with improving investment performance.
• MCP access is widely offered but pricing has yet to stabilise – 44% of data providers said they offer access via Model Context Protocol (MCP), and over half of those charge no additional fee.
• Views on AI's effect on data quality are divided – 33% of buyers reported a deterioration in the quality of their data sources over the past 1-2 years, and opinion is split on whether AI-generated content is to blame.
• Signal strength remains the deciding factor – 39% of buyers said the main reason a trial does not lead to a purchase is that the dataset showed no discernible signal, ahead of price at 25%.

Rado Lipuš, CEO and founder of Neudata, commented: "3 years of running this survey show a market with continued confidence in the value of alternative and market data. What's changing is AI's role in reshaping that market. Efficiency gains are already well established. What comes next, and what we're only seeing early signs of, is how AI affects data quality, pricing and whether it can improve investment performance."

The 2026 edition of The Future of Alternative and Market Data provides essential intelligence for hedge funds, asset managers, data providers and financial institutions navigating spending decisions, AI adoption and vendor strategy over the year ahead.

Download the full report here > 

Suggested citation: Neudata's The Future of Alternative and Market Data report (2026) n=191.

About Neudata

Neudata is an independent alternative and market data intelligence platform that helps institutional investors discover, evaluate and source datasets from third-party providers. For over 10 years, Neudata has provided unbiased research to hedge funds and asset managers, connecting them with data providers through its Scout and Ranger platforms, as well as its global events and 1-to-1 networking programme (AltDating). Neudata also supports corporates with consulting services to help assess, monetise and position their data effectively in the market. For more information, visit www.neudata.co

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SOURCE Neudata