Alpaca's target audience encompasses a broad range of participants in the financial and technology sectors, primarily focusing on those with a technical inclination and an interest in algorithmic trading and automated investment solutions. The company caters to individuals such as developers and researchers, as well as businesses including fintech startups, digital wallets, broker-dealers, hedge funds & prop firms, algorithmic traders, robo advisors, and crypto exchanges. These groups are attracted by Alpaca's developer-first API, real-time market data, historical data access, and brokerage services, which facilitate the creation and deployment of custom trading applications.