Revenue of Multimodal AI Market Reaches USD 1.35 Billion in 2024, Projections Show 32.91% CAGR Growth Till 2030

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A Quick Overview of Multimodal AI Market

The key object of this report on the Multimodal AI Market is to offer worthy data and a geographical perspective for predictions of market growth in the future. The recommendations added in this detailed report are insightful, and actionable offering a deep understanding of the industry. Moreover, it includes a comprehensive importance of aspects that have impacted the industry.

MarkNtel Advisors has recently studied an extensive market intelligence evaluation on the market. Also, the newly released report exhibits an engaging format that comprises compelling graphs, tables, charts, and figures as well. These seamlessly combined visual aids are designed to support the clarity and accuracy of the details presented, offering analysts a deep knowledge of the topic at hand.

According to the latest report, 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% from 2025 to 2030. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data.

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Market Dynamics:

Growth Opportunity-

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.

Multimodal AI Market Report Segmentation:

The report by MarkNtel Advisors on Multimodal AI Industry, analyzes, identifies, and highlights the main trends and drivers which are affecting each segment of the market. The market has been further divided into the following categories:

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. Cloud platforms offer higher scalability and elasticity than on-premises servers, enabling organizations to rapidly scale up or down their computational resources based on fluctuating demand for multimodal AI services.

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

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

By Region

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

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Some of the Top Multimodal AI Companies in the Market

In the fast-changing Multimodal AI Market, understanding what our competitors are doing is crucial. By carefully analyzing things, we figured out some of the dominating players in the industry. So, the top players of the industry ruling the industry are:

  • 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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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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