Multimodal AI Market Size To Reach $10.89 Billion By 2030

Multimodal AI Market Trends & Growth

The global multimodal AI market size is estimated to reach USD 10.89 billion in 2030 and is projected to grow at a CAGR of 36.8% from 2025 to 2030, according to a new report by Grand View Research, Inc. The increasing digitization of various data types, including images, text, audio, and video, has produced a demand for advanced technologies capable of processing and extracting meaningful insights from these varied sources. Multimodal artificial intelligence (AI) AI, with its ability to understand and analyze multiple modalities simultaneously, handles this need, boosting its adoption across numerous industries. In addition, the rising prevalence of data-rich applications, such as autonomous vehicles, virtual assistants, and augmented reality, have created new prospects for multimodal AI solutions as these applications require a complete understanding of complex data inputs, which is a notable strength of multimodal AI.

Multimodal AI applications in healthcare deliver transformative advantages through the enhancement of medical imaging analysis, disease diagnosis, and the development of personalized treatment plans. Integrating medical images with patient records and genetic data enables healthcare providers to attain a more accurate comprehension of individual patient health, facilitating the creation of customized treatment plans. This, in turn, results in improved patient outcomes and enhances operational efficiency within the healthcare sector. In November 2023, Tempus Labs, Inc. announced a strategic and multi-year research partnership with Bristol-Myers Squibb Company. This collaboration aims to accelerate the identification and validation of novel targets in specific cancer disease areas by leveraging multimodal datasets, computational methods, and patient-derived disease models, ensuring a faster and more confident validation process.

Multimodal AI harnesses the capabilities of diverse data types and computational resources accessible within cloud infrastructures. In cloud deployment, multimodal AI systems leverage computing resources and remote servers to process and analyze data from various sources concurrently. This approach seamlessly integrates different data modalities, including images, text, audio, and video, within a centralized cloud environment. The cloud-based deployment of multimodal AI offers scalability advantages, enabling organizations to adjust their computational resources according to demand effortlessly. In addition, cloud platforms operate on a pay-as-you-go model, reducing the upfront costs associated with deploying and maintaining multimodal AI infrastructure. This cost-efficiency appeals to companies of all sizes, as they can leverage advanced AI capabilities without substantial initial investments.

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Multimodal AI Market Report Highlights

• The software segment led the market and accounted for a 65.0% global revenue share in 2024

• The text data segment accounted for the largest revenue share in 2024

• The media & entertainment segment accounted for the largest revenue share in 2024

• The large enterprise segment accounted for the largest revenue share in 2024

• North America multimodal AI market dominated the market and accounted for a 48.0% share in 2024

Multimodal AI Market Segmentation

Grand View Research has segmented the global multimodal AI market report based on component, data modality, end use, enterprise size, and region:

Multimodal AI Component Outlook (Revenue, USD Million, 2017 - 2030)

• Software

• Service

Multimodal AI Data Modality Outlook (Revenue, USD Million, 2017 - 2030)

• Image Data

• Text Data

• Speech & Voice Data

• Video & Audio Data

Multimodal AI End-Use Outlook (Revenue, USD Million, 2017 - 2030)

• Media & Entertainment

• BFSI

• IT & Telecommunication

• Healthcare

• Automotive & Transportation

• Gaming

• Others

Multimodal AI Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)

• Large Enterprise

• SMEs

Multimodal AI Regional Outlook (Revenue, USD MBillion, 2017 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

• Middle East and Africa (MEA)

  • KSA

  • UAE

  • South Africa

List of Key Players in the Multimodal AI Market

• Aimesoft

• Amazon Web Services, Inc.

• Google LLC

• IBM Corporation

• Jina AI GmbH

• Meta.

• Microsoft

• OpenAI, L.L.C.

• Twelve Labs Inc.

• Uniphore Technologies Inc.