How Big is 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. Governments of the developing & developed nations are making significant investments to upgrade the country’s digital infrastructure owing to which there has been growth in internet penetration rates. According to the World Bank, in 2023, internet penetration in China reached around 77.5%, a growth of about 2% compared to 2022.
Market Statistics
- Market Size in 2024: USD 1.35 billion
- Market Size By 2030: USD 5.6 billion
- Market Growth Rate (CAGR): 32.91% from 2025-2030
If you’re interested in the assumptions considered in this study, you can download the PDF brochure- https://www.marknteladvisors.com/query/request-sample/multimodal-ai-market.html
Multimodal AI Market Insight:
Driver-
Increasing Digital Banking Uplifting the Demand for the Multimodal AI Solutions – In recent years, countries such as the Netherlands, Denmark, the UK, etc., have witnessed a surge in the online banking user population. According to Expatica Communications, in 2023, more than 89% of the individuals residing in the Netherlands use online banking. Similarly, consumers in the US, India, etc., prefer digital banking services to make transactions rather than visiting the banks. According to the survey conducted by Forbes Advisor, in 2023, more than 78% of adult individuals in the US now prefer banking through mobile phones & applications. The increasing number of users on mobile banking applications often results in site traffic. As a result, the banks require multimodal AI solutions to offer seamless and interactive experiences to consumers, driving market growth.
In addition, the increasing inclination of consumers toward digital banking services has made consumers more susceptible to online fraudulent risks. As a result, financial institutions, like banks, insurance companies, etc., are amalgamating multimodal AI solutions to identify suspicious transactions, authenticate users, and mitigate risks more effectively, driving the global market for multimodal ai.
Furthermore, the consumers’ data stored in the servers of banks & other financial institutions is critical & holds paramount importance. Therefore, regulatory authorities, like the European Commission, Gulf Standardization, etc., are implementing stringent data security regulations. As a result, the banks & other financial institutions would use solutions, including multimodal AI, to detect anomalies, identify suspicious activities, and authenticate users, uplifting the Multimodal AI industry in forthcoming years.
Multimodal AI Market Segmentation:
The report has segmented the market 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
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
Browse Full Report Along with TOC and Figures – https://www.marknteladvisors.com/research-library/multimodal-ai-market.html
Competitive Landscape:
- 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.
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
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Key Highlights of the Report:
- Market Performance (2025-2030)
- Strategic Recommendations
- Current, Historical and Future Market Trends
- Market Drivers and Leading Competitor
- SWOT Analysis
- Structure of the Market
- Comprehensive Mapping and Recent Advancement
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