Charting Growth: Multimodal AI Market's USD Value 1.2 billion in 2023, Outlook by 2030, Backed by a CAGR of 33.40% - MarkNtel Advisors

How big is the Global Multimodal AI market?

According to MarkNtel Advisors study, The Global Multimodal AI Market size was valued at around USD 1.2 billion in 2023 and is estimated to grow at a CAGR of about 33.40% during the forecast period, i.e., 2024-30.

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Global Multimodal AI Market Trend:

Rising R&D on Autonomous Vehicles to Augment the Market Growth – In recent years, countries like the US, India, etc., experienced a surge in road accidents caused by poor road infrastructure, Speeding, and Driving Under the Influence (DUI). According to the Road & Transport Authority of India, road accidents in India, recorded a rise of around 11.9% in 2022, as compared to 2021. These accidents cause injuries and often lead to fatalities. The surging road accidents are resulting in market players like Google, Tesla, etc., to research & develop autonomous cars to offer a safer transportation alternative for consumers and their families. For instance,

• Jaguar Land Rover launched three new technology hubs to facilitate the research & development of self-driving cars in Europe.

These cars require solutions that create a comprehensive and accurate representation of the environment. Hence, automotive manufacturers use multimodal AI, uplifting market growth.

Leading Companies in the Global Multimodal AI market:

• 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

Explore Full Market Research Report – https://www.marknteladvisors.com/research-library/multimodal-ai-market.html

Global Multimodal AI Market Segmentation:

By Offerings

• Software- Market Size & Forecast 2019-2030, USD Million
• Service- Market Size & Forecast 2019-2030, USD Million
• Professional Services- Market Size & Forecast 2019-2030, USD Million
• Managed Services- Market Size & Forecast 2019-2030, USD Million

By Deployment

• Cloud-based- Market Size & Forecast 2019-2030, USD Million
• On-Premises- Market Size & Forecast 2019-2030, USD Million

By Data Modality

• Image Data- Market Size & Forecast 2019-2030, USD Million
• Text Data- Market Size & Forecast 2019-2030, USD Million
• Speech & Voice Data- Market Size & Forecast 2019-2030, USD Million
• Video & Audio Data- Market Size & Forecast 2019-2030, USD Million

By Technology

• Speech Recognition- Market Size & Forecast 2019-2030, USD Million
• Natural Language Processing (NLP) - Market Size & Forecast 2019-2030, USD Million
• Computer Vision- Market Size & Forecast 2019-2030, USD Million
• Gesture Recognition- Market Size & Forecast 2019-2030, USD Million
• Others - Market Size & Forecast 2019-2030, USD Million

By End User

• Media & Entertainment- Market Size & Forecast 2019-2030, USD Million
• BFSI- Market Size & Forecast 2019-2030, USD Million
• Healthcare- Market Size & Forecast 2019-2030, USD Million
• Automotive & Transportation- Market Size & Forecast 2019-2030, USD Million
• Telecom- Market Size & Forecast 2019-2030, USD Million
• Retail & E-commerce- Market Size & Forecast 2019-2030, USD Million
• Others- Market Size & Forecast 2019-2030, USD Million

By Application

• Virtual Assistants & Chatbots- Market Size & Forecast 2019-2030, USD Million
• Biometric Identification & Authentication- Market Size & Forecast 2019-2030, USD Million
• Medical Imaging Analysis & Patient Monitoring- Market Size & Forecast 2019-2030, USD Million
• Driver Monitoring- Market Size & Forecast 2019-2030, USD Million
• Others- Market Size & Forecast 2019-2030, USD Million

By Enterprise Size

• Small & Medium Enterprises (SME)- Market Size & Forecast 2019-2030, USD Million
• Large Enterprises- Market Size & Forecast 2019-2030, USD Million

Regional/ Countries Insight:

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

Note: Should you require specific information beyond the current scope of the report, we are prepared to furnish it as part of our customization services.

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Gain a Competitive Edge with Market Research Report

1. The Global Multimodal AI Market Report by MarkNtel Advisors offers a detailed analysis of the market size, growth rate, competitive landscape, and key players, allowing businesses to gain a comprehensive understanding of market dynamics.
2. Businesses can utilize the report to identify emerging opportunities and potential challenges in the market by highlighting current trends and providing future projections.
3. The insights provided in the report enable companies to align their strategies based on market forecasts, ensuring they can stay ahead of the competition and make informed decisions.
4. Apart from market trends and projections, the Global Multimodal AI Market Report assists in assessing and mitigating risks associated with entering or operating in the market
5. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategic approaches to minimize risks and optimize their operations, enhancing their competitive edge in the market.

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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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