UBS Forecasts Private Market Data Industry Growth

UBS released a research report projecting that the private market data sector could reach a total addressable market (TAM) of up to $35 billion by 2030; an earlier headline in the article also referenced a $30 billion TAM estimate for the same horizon.

The report notes that private market assets under management were approximately $15 trillion in 2025 and are expected to exceed $30 trillion within five years, providing a substantial base for data‑intensive services.

Drivers of Expansion

Growth is expected to be propelled by several factors: increased institutional allocations to private assets, the continued expansion of private credit markets, heightened infrastructure investment, and a growing retail investor participation in private market opportunities. These capital inflows are anticipated to raise demand for data solutions across the full investment lifecycle, including deal sourcing, valuation, benchmarking, portfolio monitoring, and reporting.

The report highlights artificial intelligence (AI) as an additional catalyst that could further accelerate data consumption, with AI‑powered research tools enabling more sophisticated analysis and transparency.

Fastest‑Growing Segments

Among the service categories, the fastest‑growing segments identified are:

  • Indexes and benchmarks for private assets,
  • Private credit analytics, and
  • Portfolio monitoring solutions.

These areas are expected to benefit from heightened disclosure requirements and intensified scrutiny of private credit portfolios.

Company‑Specific Exposure

The analysis singles out three publicly listed firms as being well‑positioned to capture this growth:

  • Morningstar Inc. – Its exposure to private markets comes primarily through its PitchBook business, which accounts for more than 30 % of Morningstar’s revenue. The report cautions that recent moderation in PitchBook’s growth remains a focus for investors.
  • MSCI Inc. – Anticipated to gain from the acceleration of its Private Assets segment as new products are rolled out, potentially lifting the company’s overall subscription growth rate.
  • S&P Global Inc. – Expected to benefit from expanding demand for private market solutions within its Market Intelligence segment, with the acquisition of With Intelligence cited as a possible additional boost if current growth trends persist.

Long‑Term Outlook

The study concludes that the combination of AI‑driven research tools and an ongoing push for greater transparency across private markets will remain long‑term drivers for the sector, supporting sustained expansion of data and analytics services.