Multimodal AI Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

Global Multimodal AI Market size will experience over 30% CAGR from 2024 to 2032, fueled by significant advancements in video data analysis and the growing demand for innovative AI services. The rising innovative launches by leading tech companies support market growth. For instance, in March 2024, Apple introduced MM1, a suite of multimodal models designed to process both images and text. The models featured up to 30 billion parameters and were on par with the early versions of Google Gemini. MM1 could follow instructions and reasoning with images as part of its multimodal functions.

Multimodal AI integrating various data types, such as text, audio, and video, is revolutionizing industries by providing more comprehensive and accurate insights. This growth is driven by ongoing research and development, alongside increasing applications in sectors such as healthcare, finance, and retail.

The overall Multimodal AI Industry is classified based on the component, technology, data modality, type, industry vertical, and region.

In terms of data modality, the video data segment will be a major growth driver from 2024 to 2032. Video data is becoming increasingly crucial as businesses and organizations seek to leverage visual information for insights and decision-making. Advances in computer vision and deep learning technologies are enhancing the ability of AI systems to analyze and interpret video content more effectively. This capability is particularly valuable in applications such as surveillance, autonomous vehicles, and video-based analytics, fueling demand for multimodal AI solutions incorporating video data.

Regarding components, the services segment is poised for substantial growth over the forecast period. As multimodal AI technologies evolve, the demand for related services such as consulting, integration, and support is rising. Organizations are seeking expertise in implementing and optimizing AI systems to harness the full potential of multimodal data. This includes customizing solutions to meet specific business needs and ensuring seamless integration with existing infrastructure. The growing complexity of AI systems and the need for specialized skills are driving the expansion of the services component in the multimodal AI market.

Europe multimodal AI market will exhibit a significant CAGR from 2024 to 2032. European countries are increasingly investing in AI research and development, supported by favorable regulatory frameworks and government initiatives. The region's focus on innovation and technological advancement is fostering the growth of multimodal AI applications across various industries. Additionally, the growing adoption of AI in sectors such as healthcare, automotive, and finance is driving demand for multimodal solutions. Europe's commitment to advancing AI technology and addressing regulatory requirements is positioning the region as a key player in the global multimodal AI market.

Product Code: 10071

Chapter 1 Methodology and Scope

1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology and innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Enhanced human-machine interaction
  - 3.8.1.2 Industry-specific applications
  - 3.8.1.3 5G and edge computing
  - 3.8.1.4 Corporate investments and partnerships
  - 3.8.1.5 Advancements in natural language processing (NLP)
- 3.8.2 Industry pitfalls and challenges
  - 3.8.2.1 Data privacy and security concerns
  - 3.8.2.2 Bias and fairness issues
3.9 Growth potential analysis
3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Component, 2021 - 2032 (USD Million)

5.1 Solution
5.2 Service

Chapter 6 Market estimates and forecast, By Data Modality, 2021 - 2032 (USD Million)

6.1 Image data
6.2 Text data
6.3 Speech and voice data
6.4 Video data
6.5 Audio data

Chapter 7 Market estimates and forecast, By Technology, 2021 - 2032 (USD Million)

7.1 Machine learning
7.2 Natural language processing
7.3 Computer vision
7.4 Context awareness
7.5 Internet of things

Chapter 8 Market estimates and forecast, By Type, 2021 - 2032 (USD Million)

8.1 Generative multimodal AI
8.2 Translative multimodal AI
8.3 Explanatory multimodal AI
8.4 Interactive multimodal AI

Chapter 9 Market estimates and forecast, By Industry Vertical, 2021 - 2032 (USD Million)

9.1 BFSI
9.2 Retail and E-Commerce
9.3 IT and telecommunication
9.4 Government and public sector
9.5 Healthcare
9.6 Manufacturing
9.7 Media and Entertainment
9.8 Others

Chapter 10 Market Estimates and Forecast, By Region, 2021 - 2032 (USD Million)

10.1 Key trends
10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
10.3 Europe
- 10.3.1 UK
- 10.3.2 Germany
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Rest of Europe
10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 South Korea
- 10.4.5 ANZ
- 10.4.6 Rest of Asia Pacific
10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Rest of Latin America
10.6 MEA
- 10.6.1 UAE
- 10.6.2 South Africa
- 10.6.3 Saudi Arabia
- 10.6.4 Rest of MEA

Chapter 11 Company Profiles

11.1 Aiberry Inc.
11.2 Aimesoft Inc.
11.3 Amazon Web Services, Inc.
11.4 Archetype AI Inc.
11.5 Beewant SAS
11.6 Google Inc.
11.7 Habana Labs Inc.
11.8 Hoppr Inc.
11.9 Inworld AI Inc.
11.10 International Business Machines Corporation (IBM)
11.11 Jina AI GmbH
11.12 Jiva.ai Ltd.
11.13 Microsoft Corporation
11.14 Mobius Labs Inc.
11.15 Modality.AI Inc.
11.16 Multimodal Inc.
11.17 Neuraptic AI S.L.
11.18 Newsbridge SAS
11.19 OpenAI Inc.
11.20 OpenStream AI Inc.
11.21 Owlbot.AI Inc.
11.22 Perceiv AI Inc.
11.23 Reka AI Inc.
11.24 Runway AI Inc.
11.25 Stability AI Ltd.