Multimodal AI Market Size, Share & Trends Analysis Report By Component (Software, Service), By Data Modality (Text Data, Speech & Voice Data), By End Use (Media And Entertainment, BFSI), By Enterprise Size, By Region, And Segment Forecasts, 2025 - 2030
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.
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
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Research Methodology
1.3.1. Information Procurement
1.3.2. Information or Data Analysis
1.3.3. Market Formulation & Data Visualization
1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
1.4.1. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Multimodal AI Market Variables, Trends, & Scope
3.1. Market Introduction/Lineage Outlook
3.2. Market Size and Growth Prospects (USD Billion)
3.3. Industry Value Chain Analysis
3.4. Market Dynamics
3.4.1. Market Drivers Analysis
3.4.1.1. The increasing need for more immersive and context-aware user experiences in applications such as virtual assistants, customer service, and content recommendation
3.4.1.2. Growing integration of multimodal AI in industry-specific applications, such as healthcare diagnostics, autonomous vehicles, and security surveillance
3.4.2. Market Restraints Analysis
3.4.2.1. Data Privacy Concerns
3.4.3. Industry Opportunities
3.4.4. Industry Challenges
3.5. Multimodal AI Market Analysis Tools
3.5.1. Porter's Analysis
3.5.1.1. Bargaining power of the suppliers
3.5.1.2. Bargaining power of the buyers
3.5.1.3. Threats of substitution
3.5.1.4. Threats from new entrants
3.5.1.5. Competitive rivalry
3.5.2. PESTEL Analysis
3.5.2.1. Political landscape
3.5.2.2. Economic and Social landscape
3.5.2.3. Technological landscape
3.5.2.4. Environmental landscape
3.5.2.5. Legal landscape
Chapter 4. Multimodal AI Market: Component Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Multimodal AI Market: Component Movement Analysis, 2024 & 2030 (USD Million)