The private market data industry could expand substantially over the coming years, reaching up to $35 billion by 2030, according to a UBS report. The firm links that potential growth to an anticipated increase in private market assets and stronger demand for analytical, transparency and reporting solutions.
UBS estimates private market assets under management at about $15 trillion in 2025 and projects they could top $30 trillion within five years. The report points to several drivers expected to support that expansion: higher institutional allocations to private assets, a larger private credit market, increased investment in infrastructure, and greater retail investor participation.
As capital migrates into private markets, UBS says investors will require more data services across the investment lifecycle. Key areas of demand highlighted in the report include deal sourcing, valuation and benchmarking tools, portfolio monitoring and comprehensive reporting capabilities.
Artificial intelligence is identified as a potential accelerator of data consumption, with UBS noting AI-powered research tools as a factor that could boost the use of private market analytics. The report also notes that investors’ appetite for more transparency and sophisticated evaluation tools is likely to expand the addressable market for data and analytics providers.
Regulatory and market pressures could also favor the sector. UBS points to increased disclosure requirements and heightened scrutiny of private credit portfolios as factors that may create additional demand for services such as indexes and benchmarks, private credit analytics, and portfolio-monitoring solutions. Those areas stand out in the report as some of the fastest-growing segments within the industry.
The report examines several data and index companies that could benefit from these trends. Morningstar is identified as the firm with the largest exposure to private markets through its PitchBook operations and related businesses. UBS notes that PitchBook and affiliated activities account for more than 30% of Morningstar’s revenue, and it highlights recent moderation in PitchBook’s growth as a point of investor attention.
MSCI is also described as a potential beneficiary. UBS suggests that if MSCI’s Private Assets segment accelerates as new products roll out, the business’s expansion could help raise the company’s overall subscription growth rate.
S&P Global is another company the report identifies as well-positioned to gain from rising demand for private market solutions. UBS indicates that growth in S&P Global’s Market Intelligence segment could be bolstered by a broader set of private market offerings, and that the acquisition of With Intelligence might provide an additional lift if current growth trends persist.
UBS concludes that long-term demand for private market data and analytics is likely to be sustained by both technology adoption, including AI-powered research tools, and by investor demand for transparency across private asset classes.
Sector implications
- Data and analytics vendors may see accelerated revenue opportunities tied to private market growth and product innovation.
- Asset managers and index providers could experience increased demand for benchmarking, valuation and reporting solutions as private allocations expand.
- Private credit and infrastructure markets may drive the greatest incremental need for specialized analytics and monitoring tools.