The majority (80%) of asset managers now view artificial intelligence (AI) and machine learning (ML) as a key driver of market data delivery and consumption over the next two years, according to new research by SIX, the global financial information provider, and Crisil Coalition Greenwich.

The annual research report – conducted from June to July 2025 – spans US, UK and European respondents at asset managers, wealth managers, and private banks in majority front and middle-office roles.  Now in its third year, the Market Data Study seeks to better understand the trends and challenges of consuming market data.

The findings show real-time data use is expanding, with 65% of respondents using it throughout the trading day. This surge in interest can be attributed to the rise in 24/7 trading in certain asset classes. However, the uptick in real-time data also suggests use in a wider range of functions, namely in risk, compliance, and portfolio analytics.

Overall spend on market data is projected to rise, a trend also captured in 2023 and 2024. Almost 70% of participants expect an increase in budget spending of 1% to 5%. Index data, risk and regulatory data, and crypto data are expected to be the areas with increased budget. This is partly due to participants seeking better sources for existing data, with over three-quarters of buy-side respondents looking for more sources of historical tick data for areas such as market and trade surveillance.

The data also showed that asset managers, wealth managers, and private banks have significantly increased cloud adoption since our last two studies, with 63% of participants receiving data using internet connectivity from the public cloud, versus only 30% in 2023. Cloud is increasingly being leveraged for streaming data – with 53% of participants saying that cloud will enhance delivery of streaming data.=

Respondents are also changing how they receive data. Firms are increasingly relying on market data vendors to feed into their systems, coming out as the most favourable way to receive data, whereas last year direct-from-source data was the most popular choice.

Commenting on the findings, Matthew Nurse, Head Market Data, Financial Information, SIX said: “The intersection of technology and data is reshaping how capital markets operate. The rapid uptake of AI/ML, combined with the growing reliance on cloud infrastructure and real-time delivery, is evidence of a clear shift toward more scalable, flexible, and cost-effective delivery models. Looking ahead, one thing will not change, market data will continue to play a critical role in informing investment decisions and managing risk. Those who prioritize technological advancements in data delivery will remain at the forefront of the industry.”

David Easthope, Senior Analyst for Coalition Greenwich Market Structure & Technology and author of the paper added: “Firms will need to focus on developing robust data management practices to ensure the quality and accuracy of data. By doing so, firms can unlock the full potential of market data to improve decision-making and navigate the increasingly complex regulatory environment.”

Read the full report.

Source: SIX