Multimodal AI Market Report: Trends, Forecast and Competitive Analysis to 2030

Multimodal AI Trends and Forecast

The future of the global multimodal AI market looks promising with opportunities in the media & entertainment, BFSI, IT & telecommunication, healthcare, automotive & transportation, and gaming markets. The global multimodal AI market is expected to reach an estimated $3.3 billion by 2030 with a CAGR of 21.3% from 2024 to 2030. The major drivers for this market are growing need to analyze unstructured data, ongoing development of AI technology, as well as, rising need for solutions that are tailored to individual industries.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Multimodal AI by Segment

The study includes a forecast for the global multimodal AI by component, data modality, enterprise size, end use, and region.

Multimodal AI Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Software
• Service

Multimodal AI Market by Data Modality [Shipment Analysis by Value from 2018 to 2030]:

• Image Data
• Text Data
• Speech & Voice Data
• Video & Audio Data

Multimodal AI Market by Enterprise Size [Shipment Analysis by Value from 2018 to 2030]:

• Large Enterprise
• SMEs

Multimodal AI Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Media & Entertainment
• BFSI
• IT & Telecommunication
• Healthcare
• Automotive & Transportation
• Gaming
• Others

Multimodal AI Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Multimodal AI Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies multimodal AI companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the multimodal AI companies profiled in this report include-

• Aimesoft
• Amazon Web Services
• Google
• IBM
• Jina AI
• Meta
• Microsoft
• OpenAI
• Twelve Labs
• Uniphore Technologies

Multimodal AI Market Insights

Lucintel forecasts that software will remain larger segment over the forecast period because it includes interconnected systems specially built to concurrently handle and process numerous forms of data.

Within this market, media & entertainment will remain larger segment due to rising focus on enhancing user experiences, content personalization, and creative innovation.

North America will remain the largest region over the forecast period due to increasing demand for more sophisticated and human-like interactions between machines and users.

Features of the Global Multimodal AI Market

Market Size Estimates: Multimodal AI market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Multimodal AI market size by component, data modality, enterprise size, end use, and region in terms of value ($B).

Regional Analysis: Multimodal AI market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different component, data modality, enterprise size, end use, and regions for the multimodal AI market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the multimodal AI market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the multimodal AI market size?

Answer: The global multimodal AI market is expected to reach an estimated $3.3 billion by 2030.

Q2. What is the growth forecast for multimodal AI market?

Answer: The global multimodal AI market is expected to grow with a CAGR of 21.3% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the multimodal AI market?

Answer: The major drivers for this market are growing need to analyze unstructured data, ongoing development of AI technology, as well as, rising need for solutions that are tailored to individual industries.

Q4. What are the major segments for multimodal AI market?

Answer: The future of the global multimodal AI market looks promising with opportunities in the media & entertainment, BFSI, IT & telecommunication, healthcare, automotive & transportation, and gaming markets.

Q5. Who are the key multimodal AI market companies?

Answer: Some of the key multimodal AI companies are as follows:

• Aimesoft
• Amazon Web Services
• Google
• IBM
• Jina AI
• Meta
• Microsoft
• OpenAI
• Twelve Labs
• Uniphore Technologies

Q6. Which multimodal AI market segment will be the largest in future?

Answer: Lucintel forecasts that software will remain larger segment over the forecast period because it includes interconnected systems specially built to concurrently handle and process numerous forms of data.

Q7. In multimodal AI market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to increasing demand for more sophisticated and human-like interactions between machines and users.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the multimodal AI market by component (software and service), data modality (image data, text data, speech & voice data, and video & audio data), enterprise size (large enterprise and SMEs), end use (media & entertainment, BFSI, IT & telecommunication, healthcare, automotive & transportation, gaming, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?