Multimodal AI Market to Witness 33.40% CAGR Boom Through 2024-30 – Latest MarkNtel Advisors Report

MarkNtel Advisors, a leading market research firm, has showed its latest study titled “Multimodal AI Market“, offering a detailed industry overview and market perspective. This comprehensive research provides insights into the current state of the market, highlighting recent advancements and emerging trends.

The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.

Analysis and Insights into the Multimodal AI Market: 2024-2030

The UAE Gas Meters Market size is estimated to grow at a CAGR of around 33.40% during the forecast period, i.e., 2024-30.

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What are the primary factors driving the growth of the Multimodal AI market?

Global Multimodal AI Market 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 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.

Multimodal AI Market Segmentation:

The Multimodal AI market is categorized in to different segments. Analyzing growth across these segments enables a comprehensive understanding of key growth areas within the industry. This segmentation provides valuable market insights, empowering stakeholders to make strategic decisions and identify primary market applications effectively.

By Offerings

-Software

-Service

–Professional Services

–Managed Services

By Deployment

-Cloud-based

-On-Premises

• Cloud held a dominant share in the Global multimodal AI Market since cloud platforms provide scalability, flexibility, and easy accessibility.

By Data Modality

-Image Data

-Text Data

-Speech & Voice Data

-Video & Audio Data

By Technology

-Speech Recognition

-Natural Language Processing (NLP)

-Computer Vision

-Gesture Recognition

-Others

By End User

-Media & Entertainment

-BFSI

-Healthcare

-Automotive & Transportation

-Telecom

-Retail & E-commerce

-Others

By Application

-Virtual Assistants & Chatbots

-Biometric Identification & Authentication

-Medical Imaging Analysis & Patient Monitoring

-Driver Monitoring

-Others

By Enterprise Size

-Small & Medium Enterprises (SME)

-Large Enterprises

Geographical Analysis into the Multimodal AI Market:

• North America: US, Canada, Mexico
• Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
• Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
• South America: Brazil, Argentina, Rest of South America
• Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA

Read Detailed Index of full Research Study at – https://www.marknteladvisors.com/research-library/multimodal-ai-market.html  

Competitive Landscape and Multimodal AI Market Share Analysis:

The competitive landscape of the Multimodal AI market includes comprehensive details about competitors. These details encompass company overviews, financial performance, revenue generation, market potential, investments in research and development, new market strategies, production facilities, strengths and weaknesses, product launches, ongoing trials, approvals, patents, product range, dominant applications, and technology life cycle.

The report features major players including:

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

Market research studies from MarkNtel Advisors are offered in PDF, Excel and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address.

Questions Addressed in this Study

• What factors are driving the Multimodal AI Market growth?
• How is the Multimodal AI Market expected to grow over the next five years?
• What are the key insights into the current trends in the Multimodal AI Market?
• What is the current size of the Multimodal AI Market, and how is it projected to change in the future?
• What is the future outlook for the Multimodal AI Market in terms of technological advancements and market expansion?

Why choose MarkNtel?

MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.

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