Dublin, April 08, 2025 (GLOBE NEWSWIRE) — The “Multimodal AI Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025-2034” report has been added to ResearchAndMarkets.com’s offering.
The Multimodal AI Market was valued at USD 1.6 billion in 2024, and is projected to reach USD 27 billion by 2034, rising at a CAGR of 32.7%
Growth is primarily fueled by the increasing integration of AI and ML across industries, including retail, healthcare, and automotive, alongside rising investments in AI research and development. Multimodal AI represents a major shift in technological capabilities, enabling real-time human-AI collaboration and enhancing edge AI applications. It is a rapidly evolving field that drives innovation by allowing machines to process diverse data types, such as text, images, and voice, for more efficient decision-making.
However, challenges such as ethical AI governance, computational efficiency, and data fusion complexity continue to pose obstacles for companies. Despite these hurdles, businesses worldwide are leveraging multimodal AI to optimize workflows, reduce errors, and improve productivity. Adoption is accelerating as industries seek automation to enhance operational efficiency, particularly in healthcare, automotive, and logistics. The growing reliance on AI-driven tools for personalized services and decision-making further propels demand, with enterprises prioritizing AI investment to gain a competitive edge.
Multimodal AI enables machine learning models to analyze and integrate multiple data types, including text, images, video, and audio, to deliver more accurate outputs. The image data segment accounted for USD 565.4 million in 2024, driven by advancements in deep learning techniques, such as Convolutional Neural Networks (CNN), which have enhanced image classification and recognition capabilities. The machine learning segment held the largest market share of 34.5% in 2024 and is projected to dominate through 2034. Growing demand for predictive analytics, particularly in healthcare and banking, as well as the increasing adoption of cloud-based ML solutions, supports expansion. More than 87% of enterprises now prefer cloud platforms for machine learning deployment, reinforcing market growth.
The multimodal AI market is categorized into generative, translative, explanatory, and interactive AI. The generative multimodal AI segment was valued at USD 740.1 million in 2024, largely due to rising demand for high-quality content creation across various digital platforms. Companies are investing significantly in AI-generated text, video, and audio for marketing purposes, further boosting the segment.
Industry-wise, multimodal AI adoption is expanding across multiple sectors, including BFSI, retail and e-commerce, IT and telecommunications, government, healthcare, and media. The BFSI sector contributed USD 570.5 million in 2024, driven by the increasing use of AI to enhance financial services and streamline operations.
Geographically, North America is expected to lead the market, with projections estimating a market size of USD 11.7 billion by 2034. The region’s strong focus on AI investment and the presence of key technology hubs contribute to this growth. The US market is anticipated to expand at a CAGR of 33.6% in 2034, driven by continuous investment in AI startups and the development of cutting-edge multimodal AI solutions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 160 |
| Forecast Period | 2024 – 2034 |
| Estimated Market Value (USD) in 2024 | $1.6 Billion |
| Forecasted Market Value (USD) by 2034 | $27 Billion |
| Compound Annual Growth Rate | 32.7% |
| Regions Covered | Global |
Comprehensive Market Analysis and Forecast
- Industry trends, key growth drivers, challenges, future opportunities, and regulatory landscape
- Competitive landscape with Porter’s Five Forces and PESTEL analysis
- Market size, segmentation, and regional forecasts
Company Profiles
- Aiberry Inc.
- Aimesoft Inc.
- Amazon Web Services Inc.
- Archetype AI Inc.
- Beewant SAS
- Google Inc.
- Habana Labs Inc.
- Hoppr Inc.
- Inworld AI Inc.
- International Business Machines Corporation (IBM)
- Jina AI GmbH
- Jiva.ai Ltd.
- Microsoft Corporation
- Mobius Labs Inc.
- Modality.AI Inc.
- Multimodal Inc.
- Neuraptic AI S.L.
- Newsbridge SAS
- OpenAI Inc.
- OpenStream AI Inc.
- Owlbot.AI Inc.
- Perceiv AI Inc.
- Reka AI Inc.
- Runway AI Inc.
- Stability AI Ltd.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Industry 360 synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Rising demand for automation
3.2.1.2 Enhance customer experience expectations
3.2.1.3 Adoption of AI related content creation tools
3.2.1.4 Government funding in AI research
3.2.1.5 Increase in demand for AI in security
3.2.2 Industry pitfalls and challenges
3.2.2.1 Data privacy and security concerns
3.2.2.2 Risk of job replacement
3.3 Growth potential analysis
3.4 Regulatory landscape
3.5 Technology landscape
3.6 Future market trends
3.7 Gap analysis
3.8 Porter’s analysis
3.9 PESTEL analysis
Chapter 4 Competitive Landscape, 2024
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive analysis of major market players
4.4 Competitive positioning matrix
4.5 Strategy dashboard
Chapter 5 Market Estimates and Forecast, by Data Modality, 2021-2034 ($ Mn)
5.1 Key trends
5.2 Image data
5.3 Text data
5.4 Speech & voice data
5.5 Video data
5.6 Audio data
Chapter 6 Market Estimates and Forecast, by Technology, 2021-2034 ($ Mn)
6.1 Key trends
6.2 Machine learning
6.3 Natural language processing
6.4 Computer vision
6.5 Context awareness
6.6 Internet of things
Chapter 7 Market Estimates and Forecast, by Type, 2021-2034 ($ Mn)
7.1 Key trends
7.2 Generative Multimodal AI
7.3 Translative Multimodal AI
7.4 Explanatory Multimodal AI
7.5 Interactive Multimodal AI
Chapter 8 Market Estimates and Forecast, by Industry Vertical, 2021-2034 ($ Mn)
8.1 Key trends
8.2 BFSI
8.3 Retail & ecommerce
8.4 IT & Telecommunication
8.5 Government & public sector
8.6 Healthcare
8.7 Media & entertainment
8.8 Others
Chapter 9 Market Estimates and Forecast, by Region, 2021-2034 ($ Mn)
9.1 Key trends
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 France
9.3.4 Spain
9.3.5 Italy
9.3.6 Netherlands
9.4 Asia-Pacific
9.4.1 China
9.4.2 India
9.4.3 Japan
9.4.4 Australia
9.4.5 South Korea
9.5 Latin America
9.5.1 Brazil
9.5.2 Mexico
9.5.3 Argentina
9.6 Middle East and Africa
9.6.1 Saudi Arabia
9.6.2 South Africa
9.6.3 UAE
For more information about this report visit https://www.researchandmarkets.com/r/bbxlkr
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