Europe Multimodal AI Market Forecast to 2031 - Regional Analysis - by Component, Organization Size, Data Type, and End-use

List of Tables

The Europe multimodal AI market was valued at US$ 268.76 million in 2023 and is expected to reach US$ 3,215.70 million by 2031; it is estimated to register a CAGR of 36.4% from 2023 to 2031.

Rising Demand for Personalized User Experience Drives Europe Multimodal AI Market

Customers prefer individualized experiences when communicating with businesses, prompting organizations to pursue flawless customer experiences (CX) that distinguish them from the competition. As a result, they are opting for a multimodal user interface (MUI) to ensure spontaneous and intuitive user interactions. In response to evolving consumer preferences, UI/UX designers create practical, personalized, and human-centered user interfaces by combining various user inputs, including voice commands, gesture detection, touch interactions, and typing, to enable natural interactions. Moreover, the application of artificial intelligence (AI) improves user experience (UX) by identifying demands and engagement patterns.

The use of multimodal AI allows businesses to harness multiple data sources, giving customers more personalized and targeted content. This, in turn, allows marketing teams to create highly tailored campaigns that include customer-specific advice and adverts. Moreover, multimodal AI can help produce more interactive and engaging content, aiding in interactive marketing, immersive product experiences, and multimedia-rich educational resources. Detailed analysis and decision-making processes powered by multimodal AI systems contribute to a more holistic grasp of the market landscape. Additionally, the technology is critical to breaking down language boundaries amid rapid-paced globalization. Businesses that process and understand information in several languages can efficiently interact with diverse audiences with different linguistic preferences. Thus, the rising demand for personalized experience propels the Europe multimodal AI market .

Europe Multimodal AI Market Overview

In healthcare, multimodal AI is revolutionizing diagnostics, treatment, and patient care. Germany, the UK, and France are pioneering the adoption of multimodal AI in healthcare among all European countries. The growth of the multimodal AI market in Europe, specifically in the healthcare sector, is attributed to the need for advanced diagnostic tools, the increasing complexity of medical data, and the rising demand for personalized healthcare solutions. Significant investments in AI infrastructure, supportive government policies, and collaborations between tech companies and healthcare institutions are also contributing to the market in European countries. For instance, in June 2023, the European Commission, along with Member States and 128 partners from industry, research, and public organizations, unveiled an investment worth US$ 238.34 million in 4 sectoral testing and experimentation facilities (TEFs) for AI, including the TEF-Health. TEF-Health focuses on machine learning (ML) in medical imaging, complex brain simulations, and the use of robotics in intervention and rehabilitation, among other aspects. In March 2024, the Science and Technology Facilities Council (STFC) Hartree Centre and the Mersey Care NHS Foundation Trust announced a strategic partnership to advance artificial intelligence (AI) in healthcare across the trust to optimize patient outcomes. Thus, technological progress in the healthcare sector propels the multimodal AI market in Europe.

Europe Multimodal AI Market Revenue and Forecast to 2031 (US$ Million)

Europe Multimodal AI Market Segmentation

The Europe multimodal AI market is categorized into component, organization size, data type, end-use, and country.

Based on component, the Europe multimodal AI market is bifurcated into solution and service. The solution segment held a larger market share in 2023.

Based on organization size, the Europe multimodal AI market is bifurcated into SMEs and large enterprises. The large enterprises segment held a larger market share in 2023.

By data type, the Europe multimodal AI market is segmented into audio & video, image, and text. The audio & video segment held the largest market share in 2023.

By end-use, the Europe multimodal AI market is segmented into automotive and transportation, BFSI, E-commerce and retail, healthcare, it and telecom, media & entertainment, and others. The automotive and transportation segment held the largest market share in 2023.

By country, the Europe multimodal AI market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Germany dominated the Europe multimodal AI market share in 2023.

Alphabet Inc; Amazon Web Services Inc; International Business Machines Corp; NEC Corp; Microsoft Corp; vReka AI, Inc; Jiva.ai Ltd.; and Jina AI GmbH are some of the leading companies operating in the Europe multimodal AI market.

Product Code: BMIRE00031124

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. Europe Multimodal AI Market Landscape

4.1 Overview
4.2 Ecosystem Analysis
- 4.2.1 List of Vendors in the Value Chain

5. Europe Multimodal AI Market - Key Market Dynamics

5.1 Europe Multimodal AI Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Rising Demand for Personalised User Experience
- 5.2.2 Surging Application in Healthcare Sector
5.3 Market Restraints
- 5.3.1 Ethical and Privacy Concerns
5.4 Market Opportunities
- 5.4.1 Application in Media and Entertainment
5.5 Future Trends
- 5.5.1 Ability to Improve Self-Driving Car Performance
5.6 Impact of Drivers and Restraints:

6. Multimodal AI Market -Europe Market Analysis

6.1 Europe Multimodal AI Market Revenue (US$ Million), 2021-2031
6.2 Europe Multimodal AI Market Forecast Analysis

7. Europe Multimodal AI Market Analysis - by Component

7.1 Solution
- 7.1.1 Overview
- 7.1.2 Solution: Europe Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Service
- 7.2.1 Overview
- 7.2.2 Service: Europe Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)

8. Europe Multimodal AI Market Analysis - by Organization Size

8.1 SMEs
- 8.1.1 Overview
- 8.1.2 SMEs: Europe Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Large Enterprises
- 8.2.1 Overview
- 8.2.2 Large Enterprises: Europe Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)

9. Europe Multimodal AI Market Analysis - by Data Type

9.1 Audio and Video
- 9.1.1 Overview
- 9.1.2 Audio and Video: Europe Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Image
- 9.2.1 Overview
- 9.2.2 Image: Europe Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
9.3 Text
- 9.3.1 Overview
- 9.3.2 Text: Europe Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)

10. Europe Multimodal AI Market Analysis - by End-use

10.1 Automotive and Transportation
- 10.1.1 Overview
- 10.1.2 Automotive and Transportation: Europe Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
10.2 BFSI
- 10.2.1 Overview
- 10.2.2 BFSI: Europe Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
10.3 E-commerce and Retail
- 10.3.1 Overview
- 10.3.2 E-commerce and Retail: Europe Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
10.4 Healthcare
- 10.4.1 Overview
- 10.4.2 Healthcare: Europe Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
10.5 IT and Telecom
- 10.5.1 Overview
- 10.5.2 IT and Telecom: Europe Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
10.6 Media and Entertainment
- 10.6.1 Overview
- 10.6.2 Media and Entertainment: Europe Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
10.7 Others
- 10.7.1 Overview
- 10.7.2 Others: Europe Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)

11. Europe Multimodal AI Market - Country Analysis

11.1 Europe
- 11.1.1 Europe: Multimodal AI Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.1 Europe: Multimodal AI Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.2 Germany: Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.2.1 Germany: Multimodal AI Market Breakdown, by Component
    - 11.1.1.2.2 Germany: Multimodal AI Market Breakdown, by Organization Size
    - 11.1.1.2.3 Germany: Multimodal AI Market Breakdown, by Data Type
    - 11.1.1.2.4 Germany: Multimodal AI Market Breakdown, by End-use
  - 11.1.1.3 France: Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.3.1 France: Multimodal AI Market Breakdown, by Component
    - 11.1.1.3.2 France: Multimodal AI Market Breakdown, by Organization Size
    - 11.1.1.3.3 France: Multimodal AI Market Breakdown, by Data Type
    - 11.1.1.3.4 France: Multimodal AI Market Breakdown, by End-use
  - 11.1.1.4 Italy: Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.4.1 Italy: Multimodal AI Market Breakdown, by Component
    - 11.1.1.4.2 Italy: Multimodal AI Market Breakdown, by Organization Size
    - 11.1.1.4.3 Italy: Multimodal AI Market Breakdown, by Data Type
    - 11.1.1.4.4 Italy: Multimodal AI Market Breakdown, by End-use
  - 11.1.1.5 United Kingdom: Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.5.1 United Kingdom: Multimodal AI Market Breakdown, by Component
    - 11.1.1.5.2 United Kingdom: Multimodal AI Market Breakdown, by Organization Size
    - 11.1.1.5.3 United Kingdom: Multimodal AI Market Breakdown, by Data Type
    - 11.1.1.5.4 United Kingdom: Multimodal AI Market Breakdown, by End-use
  - 11.1.1.6 Russia: Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.6.1 Russia: Multimodal AI Market Breakdown, by Component
    - 11.1.1.6.2 Russia: Multimodal AI Market Breakdown, by Organization Size
    - 11.1.1.6.3 Russia: Multimodal AI Market Breakdown, by Data Type
    - 11.1.1.6.4 Russia: Multimodal AI Market Breakdown, by End-use
  - 11.1.1.7 Rest of Europe: Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.7.1 Rest of Europe: Multimodal AI Market Breakdown, by Component
    - 11.1.1.7.2 Rest of Europe: Multimodal AI Market Breakdown, by Organization Size
    - 11.1.1.7.3 Rest of Europe: Multimodal AI Market Breakdown, by Data Type
    - 11.1.1.7.4 Rest of Europe: Multimodal AI Market Breakdown, by End-use

12. Competitive Landscape

12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration

13. Industry Landscape

13.1 Overview
13.2 Market Initiative
13.3 Product News & Company News
13.4 Collaboration and Mergers & Acquisitions

14. Company Profiles

14.1 Alphabet Inc
- 14.1.1 Key Facts
- 14.1.2 Business Description
- 14.1.3 Products and Services
- 14.1.4 Financial Overview
- 14.1.5 SWOT Analysis
- 14.1.6 Key Developments
14.2 Amazon Web Services Inc
- 14.2.1 Key Facts
- 14.2.2 Business Description
- 14.2.3 Products and Services
- 14.2.4 Financial Overview
- 14.2.5 SWOT Analysis
- 14.2.6 Key Developments
14.3 International Business Machines Corp
- 14.3.1 Key Facts
- 14.3.2 Business Description
- 14.3.3 Products and Services
- 14.3.4 Financial Overview
- 14.3.5 SWOT Analysis
- 14.3.6 Key Developments
14.4 NEC Corp
- 14.4.1 Key Facts
- 14.4.2 Business Description
- 14.4.3 Products and Services
- 14.4.4 Financial Overview
- 14.4.5 SWOT Analysis
- 14.4.6 Key Developments
14.5 Microsoft Corp
- 14.5.1 Key Facts
- 14.5.2 Business Description
- 14.5.3 Products and Services
- 14.5.4 Financial Overview
- 14.5.5 SWOT Analysis
- 14.5.6 Key Developments
14.6 Jiva.ai Ltd.
- 14.6.1 Key Facts
- 14.6.2 Business Description
- 14.6.3 Products and Services
- 14.6.4 Financial Overview
- 14.6.5 SWOT Analysis
- 14.6.6 Key Developments
14.7 Reka AI, Inc
- 14.7.1 Key Facts
- 14.7.2 Business Description
- 14.7.3 Products and Services
- 14.7.4 Financial Overview
- 14.7.5 SWOT Analysis
- 14.7.6 Key Developments
14.8 Jina AI GmbH
- 14.8.1 Key Facts
- 14.8.2 Business Description
- 14.8.3 Products and Services
- 14.8.4 Financial Overview
- 14.8.5 SWOT Analysis
- 14.8.6 Key Developments

15. Appendix

15.1 About The Insight Partners
15.2 Word Index