MarkNtel Advisors – Leading Market Research Company found Global Multimodal AI Market is expected to reach XX% CAGR Growth By 2030.

This report provides a comprehensive analysis of the Global Multimodal AI Market, with a focus on market size, segmentation, key players, geographical analysis, and growth in the coming years. The expert team of analysts invested considerable time and effort in collecting and analyzing the latest market data, producing a comprehensive and current report that provides valuable insights for decision-makers, including business owners and analysts.

Comprehensive Analysis of the Multimodal AI Market

Base Year: 2023

Forecast Years: 2024-2030

Historical Years: 2019-2022

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Scope of the Multimodal AI Market Report:

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 around 33.40% during the forecast period, i.e., 2024-30. 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.

Which prominent factor is expected to drive the Multimodal AI Market during 2024-30?

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 Multimodal market.

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 Global Multimodal AI market in forthcoming years.

What are the different Segment Available in the Multimodal AI Market?

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

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

Leading Multimodal AI companies operating in the Market

• Company Profiles 
• 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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