Multimodal AI Market on Track for 32.91% CAGR Growth | Demand & Technological Trends
The Global Multimodal AI Market size was valued at USD 1.35 billion in 2024 and is projected to reach USD 5.6 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 32.91% during the forecast period, i.e., 2025-30.
MarkNtel Advisors recently published a detailed industry analysis of the Global Multimodal AI Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Global Multimodal AI Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The Multimodal AI Market size was valued at USD 1.35 billion in 2024 and is projected to reach USD 5.6 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 32.91% during the forecast period, i.e., 2025-30.
Key Findings in Global Multimodal AI Market:
- Historical Analysis: 2020–2023
- Base Year: 2024
- Forecast Period: 2025–2030
Leading Market Players- Microsoft Corporation, Google LLC, Amazon Web Services (AWS), IBM Corporation, NVIDIA Corporation, META, Aimesoft, Jina AI GmbH, OpenAI, LLC, Twelve Labs Inc., Uniphore Technologies Inc., NEC Corporation, Sensory Inc., SoundHound Inc., Others
Key Highlights of the Report
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
What are the major Driver the Global Multimodal AI industry?
Increasing Digital Banking Uplifting the Demand for the Multimodal AI Solutions – In recent years, countries such as the Netherlands, Denmark, the UK, etc., have witnessed a surge in the online banking user population. According to Expatica Communications, in 2023, more than 89% of the individuals residing in the Netherlands use online banking. Similarly, consumers in the US, India, etc., prefer digital banking services to make transactions rather than visiting the banks. According to the survey conducted by Forbes Advisor, in 2023, more than 78% of adult individuals in the US now prefer banking through mobile phones & applications. The increasing number of users on mobile banking applications often results in site traffic. As a result, the banks require multimodal AI solutions to offer seamless and interactive experiences to consumers, driving market growth.
In addition, the increasing inclination of consumers toward digital banking services has made consumers more susceptible to online fraudulent risks. As a result, financial institutions, like banks, insurance companies, etc., are amalgamating multimodal AI solutions to identify suspicious transactions, authenticate users, and mitigate risks more effectively, driving the global market for multimodal ai.
Furthermore, the consumers' data stored in the servers of banks & other financial institutions is critical & holds paramount importance. Therefore, regulatory authorities, like the European Commission, Gulf Standardization, etc., are implementing stringent data security regulations. As a result, the banks & other financial institutions would use solutions, including multimodal AI, to detect anomalies, identify suspicious activities, and authenticate users, uplifting the Multimodal AI industry in forthcoming years.
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What segments define the Global Multimodal AI Market from 2025 to 2030? How do these segments contribute to market dynamics and growth?
By Offerings
- Software- Market Size & Forecast 2020-2030, USD Million
- Service- Market Size & Forecast 2020-2030, USD Million
- Professional Services- Market Size & Forecast 2020-2030, USD Million
- Managed Services- Market Size & Forecast 2020-2030, USD Million
By Deployment
- Cloud-based- Market Size & Forecast 2020-2030, USD Million
- On-Premises- Market Size & Forecast 2020-2030, USD Million
According to report, Cloud held a dominant share in the Global multimodal AI Market since cloud platforms provide scalability, flexibility, and easy accessibility.
By Data Modality
- Image Data- Market Size & Forecast 2020-2030, USD Million
- Text Data- Market Size & Forecast 2020-2030, USD Million
- Speech & Voice Data- Market Size & Forecast 2020-2030, USD Million
- Video & Audio Data- Market Size & Forecast 2020-2030, USD Million
By Technology
- Speech Recognition- Market Size & Forecast 2020-2030, USD Million
- Natural Language Processing (NLP) - Market Size & Forecast 2020-2030, USD Million
- Computer Vision- Market Size & Forecast 2020-2030, USD Million
- Gesture Recognition- Market Size & Forecast 2020-2030, USD Million
- Others - Market Size & Forecast 2020-2030, USD Million
By End User
- Media & Entertainment- Market Size & Forecast 2020-2030, USD Million
- BFSI- Market Size & Forecast 2020-2030, USD Million
- Healthcare- Market Size & Forecast 2020-2030, USD Million
- Automotive & Transportation- Market Size & Forecast 2020-2030, USD Million
- Telecom- Market Size & Forecast 2020-2030, USD Million
- Retail & E-commerce- Market Size & Forecast 2020-2030, USD Million
- Others- Market Size & Forecast 2020-2030, USD Million
According to report, Retail & E-Commerce hold a notable share in the Global Multimodal AI Market over the past few years.
By Application
- Virtual Assistants & Chatbots- Market Size & Forecast 2020-2030, USD Million
- Biometric Identification & Authentication- Market Size & Forecast 2020-2030, USD Million
- Medical Imaging Analysis & Patient Monitoring- Market Size & Forecast 2020-2030, USD Million
- Driver Monitoring- Market Size & Forecast 2020-2030, USD Million
- Others- Market Size & Forecast 2020-2030, USD Million
By Enterprise Size
- Small & Medium Enterprises (SME)- Market Size & Forecast 2020-2030, USD Million
- Large Enterprises- Market Size & Forecast 2020-2030, USD Million
Explore the Complete Global Multimodal AI Market Analysis Report – https://www.marknteladvisors.com/research-library/multimodal-ai-market.html
Geographical Analysis: Global Multimodal AI Market
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Global Multimodal AI Market Recent Development:
- 2024: Amazon: The company started using multimodal AI named ‘Package Decision Engine’ to guarantee optimal packaging & safeguarding of products against damage and streamline delivery processes.
Key Questions Addressed in This Study
- What are the primary factors driving the growth of the Multimodal AI Market?
- How is the Multimodal AI Market expected to evolve over the next five years?
- What key insights can be drawn from current trends shaping the market?
- What is the current market size, and how is it forecasted to change in the coming years?
- What is the future outlook for the market in terms of technological innovation and geographic expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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