MarkNtel Advisors Predicts Multimodal AI Market to Surge to USD 5.6 billion by 2030 at 32.91% CAGR

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Multimodal AI Market, 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. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight sustainable materials, rising demand for luxury customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Multimodal AI Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook Forecasts:

Forecast Period: 2025-2030
Market Size in 2024: USD 1.35 billion
CAGR (2025-2030): 32.91%

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Global Multimodal AI Market Segmentation Breakdown:

The Multimodal AI Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

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

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

Retail E-Commerce hold a notable share in the Global Multimodal AI Market over the past few years. Online shopping provides flexibility to shop without the constraints of visiting the stores.

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

Geographical Growth Insights:

By Region
- North America
- South America
- Europe
- The Middle East Africa
- Asia Pacific

Asia-Pacific leads the Global Multimodal AI Market due to rapid urbanization, digital transformation population growth.

MarkNtel Advisors Highlights Key Market Drivers for Multimodal AI Market:

Growing Consumer Interest in Healthier Natural Food Products - Consumers worldwide are becoming more conscious of their health and are actively adopting nutritious food options. Multimodal AI is perceived as a healthier alternative to traditional nut butter like peanut butter, mainly due to its richness in healthy fats, protein, fiber, vitamins, minerals. The growing awareness of these nutritional benefits is surging the demand for Multimodal AI. In addition, the growing popularity of plant-based diets veganism has also positively influenced the demand for Multimodal AI, i.e., a plant-based spread made from almonds, which makes it suitable for consumers following vegetarian, vegan, or plant-based lifestyles. Hence, the emerging trends of these diets and the increasing consumer inclination toward nutritious food are projected to drive the global Multimodal AI market during 2025-30.

A Comprehensive Analysis of Leading Companies in Global Multimodal AI Market

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

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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.

What are the growth Opportunity driving the Global Multimodal AI Market?

Expansion of Telecom Network to Uplift the Demand for the Multimodal AI Market – With the proliferation of smartphones, tablets, and other connected devices, individuals nowadays require seamless communication channels that help them communicate with consumers in different geographical boundaries. This demand for global connectivity requires a robust telecom infrastructure. As a result, telecom companies are increasingly expanding their networks to enable instant voice calls, video conferences, text messaging, and data sharing, fostering interpersonal connections on a global scale. For instance,

In 2023, Bharti Airtel, a telecom operator, announced its plans to deploy over 30,000 network sites in approximately 60,000 villages in India.

Moreover, these solutions facilitate easy, faster interactive real-time interactions and data exchanges. Hence, the telecom network expansion would compel the major telecom operators to use multimodal AI solutions to address network issues, minimize downtime, and enhance overall service reliability in the forthcoming years.

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About Us –

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative quantitative research company, strive to deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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