Press release
Multimodal AI Market Size, Latest Trends, Growth Status, Top Major Players And Forecast To 2033
Multimodal AI Market Size
According to The Business Research Company's, The multimodal ai market size has grown exponentially in recent years. It will grow from $1.27 billion in 2023 to $1.66 billion in 2024 at a compound annual growth rate (CAGR) of 31.2%. The growth in the historic period can be attributed to increased generative ai techniques to accelerate multimodal ecosystem development, increased need to analyze unstructured data in multiple formats, increased ability of multimodal ai to handle complex tasks and provide holistic approach.
The multimodal ai market size is expected to see exponential growth in the next few years. It will grow to $4.88 billion in 2028 at a compound annual growth rate (CAGR) of 30.9%. The growth in the forecast period can be attributed to rising adoption of smartphones, increasing availability of high-quality data, surge in demand for more sophisticated and human-like interactions between machines and users,. Major trends in the forecast period include integration of multimodal ai, advancements in human-machine interaction, rise of edge ai for multimodal applications, increased adoption in healthcare and life sciences, growth in multimodal ai platforms and solutions.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/multimodal-ai-global-market-report
Market Drivers and Trends:
The rising adoption of smartphones is expected to propel the growth of the multimodal AI Market going forward. A smartphone is a mobile phone with advanced computing capabilities and features beyond those of a traditional mobile phone. The integration of multimodal AI in smartphones enhances the overall user experience, making devices more intuitive, responsive, and capable of understanding and adapting to user needs in diverse situations. For instance, in February 2023, according to Uswitch Limited, a UK-based financial conduct authority, beginning in 2022, there were 71.8 million mobile connections in the UK, a 3.8% (or around 2.6 million) increase over 2021. Further, the UK population is expected to grow to 68.3 million by 2025, of which 95% (or around 65 million individuals) are expected to own a smartphone. Therefore, the rising adoption of smartphones is driving the growth of the multimodal AI market.
Major companies operating in the multimodal AI market are enhancing multimodal AI techniques, such as supercharged language models, to drive revenues in the market. A supercharged language model (SLM) is a next-generation language model that builds upon the impressive capabilities of existing models like GPT-3 and Jurassic-1 Jumbo by incorporating several key advancements, making them even more powerful and versatile. For instance, in November 2023, Open AI, a US-based artificial intelligence research company, launched GPT-4 Turbo AI, a supercharged language model with multimodal magic. This enhances the capability to accept images as inputs within the Chat Completions API and opens various use cases, including generating image captions, conducting detailed analysis of real-world images, and processing documents that contain figures. Additionally, developers can seamlessly integrate DALL·E 3 into their applications and products by specifying dall-e-3 as the model when using the Images API, extending the creative potential of multimodal AI.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=13705&type=smp
Major Key Players of the Market:
Major companies operating in the multimodal ai market report are Amazon.com Inc., Apple Inc., Alphabet Inc., Samsung Group, Microsoft Corporation, Meta Platforms Inc., Huawei Technologies Co. Ltd., Tencent Holdings Ltd., IBM corporation, SAP SE, Nvidia Corporation, Baidu AI Cloud, SenseTime, SymphonyAI, C3.ai Inc., OpenAI, Shippeo, SoundHound AI Inc., Charles River Analytics Inc., Smart Eye AB, Sight Machine, Jina AI GmbH, Clarifai Inc., Sensory Inc., Aleph Alpha GmbH, Aimesoft, Vokaturi B.V., Inworld AI, Unqork, Twelve Labs
Multimodal AI Market 2024 Key Insights:
• The multimodal ai market is expected to grow to $4.88 billion in 2028 at a compound annual growth rate (CAGR) of 30.9%.
• Smartphone Proliferation Fuels Multimodal AI Market Surge
• Multimodal AI Revolution Companies Embrace Integration for Enhanced Predictions and Efficiency
• North America was the largest region in the multimodal AI market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=13705&type=smp"
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Multimodal AI Market Size, Latest Trends, Growth Status, Top Major Players And Forecast To 2033 here
News-ID: 3682340 • Views: …
More Releases from The Business Research Company
Segment Evaluation and Major Growth Areas in the Personalized Testing and Supple …
The personalized testing and supplements sector is gaining remarkable traction, driven by advancements in technology and a rising consumer focus on tailored health solutions. As more individuals seek customized wellness options, this market is set to experience substantial expansion in the coming years. Here's an in-depth look at its current valuation, key players, significant trends, and the main market segments shaping its future.
Market Valuation and Expansion Forecast for Personalized Testing…
Top Players and Market Competition in the Skin Microbiome Industry
The skin microbiome market is emerging as a significant area of interest due to growing awareness about the critical role of skin health and innovative skincare technologies. As research advances and consumer preferences shift towards more natural and science-backed products, this market is set to undergo substantial growth. Let's explore the current market size, key players, driving factors, and upcoming trends shaping the skin microbiome industry.
Projected Expansion in the Skin…
Key Strategic Developments and Emerging Changes Shaping the Upadacitinib Market …
The upadacitinib market is poised for significant expansion over the coming years, driven by advances in treatment options and increasing awareness of autoimmune diseases. This report delves into the market's current size, key drivers, major players, and the emerging trends shaping its future trajectory.
Steady Growth Expected in Upadacitinib Market Size Through 2029
The market for upadacitinib is projected to reach $2.54 billion by 2029, growing at a robust compound annual…
Analysis of Key Market Segments Driving the Alzheimer's Disease Diagnostic Marke …
The Alzheimer's disease diagnostic sector is rapidly evolving as advancements in technology and healthcare infrastructure open new possibilities for early detection and personalized treatment. With rising awareness and innovative approaches, this market is poised for significant growth in the coming years. Let's explore the current market size, key drivers, leading companies, and emerging trends that are shaping this critical healthcare field.
Projected Market Size and Growth Trends in Alzheimer's Disease Diagnostics…
More Releases for Multimodal
Smartphone Proliferation Fuels Multimodal AI Market Surge: The Driving Engine Be …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts
Multimodal AI Market Size Growth Forecast: What to Expect by 2025?
The market size for multimodal AI has seen substantial growth in the past years. There is a projected rise from $1.66 billion in 2024 to $2.18 billion in 2025, reflecting a compound annual growth rate (CAGR) of 31.1%.…
Multimodal Affective Computing Market Size Report 2025
Global Info Research announces the release of the report "Global Multimodal Affective Computing Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031". This report provides a detailed overview of the Multimodal Affective Computing market scenario, including a thorough analysis of the Multimodal Affective Computing market size, sales quantity, revenue, gross margin and market share.The Multimodal Affective Computing report provides an in-depth analysis of the competitive landscape, manufacturer's profiles,…
Smartphone Proliferation Fuels Multimodal AI Market Surge Driver: Leading Transf …
What combination of drivers is leading to accelerated growth in the multimodal ai market?
An upward trend in smartphone usage is predicted to push the expansion of the multimodal AI market in the future. With capabilities and functionalities exceeding ordinary mobile phones, smartphones are equipped to carry advanced computing tasks. Incorporating multimodal AI heightens the users' interaction with the devices, thereby making them more adaptive, reactive, and comprehend user's specific needs…
Global Multimodal Sensor Market 2025-2032
Multimodal Sensor Market Overview
Multimode sensors refer to sensors with multiple operating modes. These different working modes can detect different physical quantities, such as temperature, humidity, pressure, etc. Multi-mode sensors can switch working modes according to actual needs and provide more comprehensive and accurate data. This kind of sensor can be used in environmental monitoring, smart homes, smart transportation and other fields, bringing great convenience to our life and work. This…
Emerging Multimodal AI Market Trend 2025-2034: Multimodal AI Revolution Companie …
How Is the Multimodal AI Market Projected to Grow, and What Is Its Market Size?
The multimodal AI market has expanded exponentially in recent years. It is anticipated to rise from $1.66 billion in 2024 to $2.18 billion in 2025, reflecting a CAGR of 31.1%. The past growth can be attributed to the increasing use of generative AI techniques to advance multimodal ecosystems, the growing need to analyze unstructured data across…
Multimodal Imaging System Market Size, Future Trends
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- The global Multimodal Imaging System Market was valued to be around USD 4.99 Billion in 2023 and this value is projected to reach USD 6.99 Billion by 2031. This significant growth is possible owing to constant advancements in imaging technologies through the integration of MRI, CT, PET, and SPECT into multimodal systems, boosting picture resolution, and expanding diagnostic capabilities.
The rising prevalence of chronic diseases such as cancer, cardiovascular…
