1 INTRODUCTION 33
1.1 STUDY OBJECTIVES 33
1.2 MARKET DEFINITION 33
1.2.1 INCLUSIONS AND EXCLUSIONS 34
1.3 MARKET SCOPE 34
1.3.1 MARKET SEGMENTATION 35
1.3.2 REGIONS COVERED 36
1.4 YEARS CONSIDERED 36
1.5 CURRENCY CONSIDERED 37
1.6 STAKEHOLDERS 37
2 RESEARCH METHODOLOGY 38
2.1 RESEARCH DATA 38
FIGURE 1 MULTIMODAL AI MARKET: RESEARCH DESIGN 39
2.1.1 SECONDARY DATA 40
2.1.2 PRIMARY DATA 40
TABLE 1 PRIMARY INTERVIEWS 40
2.1.2.1 Breakup of primary profiles 41
2.1.2.2 Key industry insights 41
2.2 DATA TRIANGULATION 42
FIGURE 2 DATA TRIANGULATION 42
2.3 MARKET SIZE ESTIMATION 43
FIGURE 3 MULTIMODAL AI MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES 43
2.3.1 TOP-DOWN APPROACH 43
2.3.2 BOTTOM-UP APPROACH 44
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY – APPROACH 1 (SUPPLY-SIDE): FLOWCHART USING REVENUE FROM MULTIMODAL AI SOLUTIONS/SERVICES 44
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY – APPROACH 2, BOTTOM-UP (SUPPLY-SIDE): COLLECTIVE REVENUE FROM ALL MULTIMODAL AI SOLUTION/SERVICE PROVIDERS 45
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY – APPROACH 3, BOTTOM-UP (SUPPLY-SIDE): REVENUES OF TOP PLAYERS AND SOURCES OF DATA 46
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY – APPROACH 4, BOTTOM-UP (DEMAND-SIDE): SHARE THROUGH OVERALL MULTIMODAL AI SPENDING 46
2.4 MARKET FORECAST 47
TABLE 2 FACTOR ANALYSIS 47
2.5 RESEARCH ASSUMPTIONS 48
2.6 LIMITATIONS 50
2.7 IMPLICATIONS OF RECESSION ON MULTIMODAL AI MARKET 50
TABLE 3 IMPACT OF RECESSION ON GLOBAL MULTIMODAL AI MARKET 51
3 EXECUTIVE SUMMARY 52
TABLE 4 MULTIMODAL AI MARKET SIZE AND GROWTH RATE, 2017–2022 (USD MILLION, Y-O-Y) 53
TABLE 5 MULTIMODAL AI MARKET SIZE AND GROWTH RATE, 2023–2028 (USD MILLION, Y-O-Y) 53
FIGURE 8 SOLUTIONS TO HOLD LARGER MARKET IN 2023 53
FIGURE 9 PLATFORM SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2023 53
FIGURE 10 CLOUD DEPLOYMENT TO BE LARGER MARKET IN 2023 54
FIGURE 11 PROFESSIONAL SERVICES TO ACCOUNT FOR LARGER MARKET IN 2023 54
FIGURE 12 CONSULTING TO ACCOUNT FOR LARGEST SHARE IN 2023 55
FIGURE 13 IMAGE DATA TO ACCOUNT FOR LARGEST MARKET IN 2023 55
FIGURE 14 GENERATIVE MULTIMODAL AI TO ACCOUNT FOR LARGEST SHARE IN 2023 55
FIGURE 15 NATURAL LANGUAGE PROCESSING TO ACCOUNT FOR LARGEST MARKET IN 2023 56
FIGURE 16 HEALTHCARE & LIFE SCIENCES TO ACCOUNT FOR LARGEST MARKET SHARE IN 2023 56
FIGURE 17 ASIA PACIFIC TO GROW AT HIGHEST CAGR IN MULTIMODAL AI MARKET 57
4 PREMIUM INSIGHTS 58
4.1 ATTRACTIVE OPPORTUNITIES IN MULTIMODAL AI MARKET 58
FIGURE 18 INCREASING NEED TO COMPREHEND AND PROCESS MULTIPLE DATA MODALITIES DRIVES MARKET GROWTH 58
4.2 MULTIMODAL AI MARKET: SOLUTIONS 58
FIGURE 19 SOFTWARE SEGMENT TO GROW AT HIGHEST CAGR IN MULTIMODAL AI MARKET 58
4.3 MULTIMODAL AI MARKET, BY OFFERING & KEY VERTICAL 59
FIGURE 20 SOLUTIONS AND HEALTHCARE & LIFE SCIENCES VERTICAL TO ACCOUNT FOR LARGEST SHARES IN 2023 59
4.4 MULTIMODAL AI MARKET, BY REGION 59
FIGURE 21 NORTH AMERICA TO ACCOUNT FOR LARGEST SHARE IN 2023 59
5 MARKET OVERVIEW AND INDUSTRY TRENDS 60
5.1 INTRODUCTION 60
5.2 MARKET DYNAMICS 60
FIGURE 22 MARKET DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 60
5.2.1 DRIVERS 61
5.2.1.1 Need to analyze unstructured data in multiple formats to drive multimodal AI market 61
5.2.1.2 Ability of multimodal AI to handle complex tasks and provide holistic approach to problem-solving to boost market 61
5.2.1.3 Generative AI techniques to accelerate multimodal ecosystem development 62
5.2.1.4 Availability of large-scale machine learning models that support multimodality to propel market growth 62
5.2.2 RESTRAINTS 63
5.2.2.1 Susceptibility to bias in multimodal models 63
5.2.2.2 Processing and training multimodal AI models to demand extensive computational resources 63
5.2.3 OPPORTUNITIES 63
5.2.3.1 Rising demand for customized and industry-specific solutions 63
5.2.3.2 Enhanced adaptability to unseen data types to propel multimodal AI forward 64
5.2.3.3 Data management services to empower multimodal AI advancements 64
5.2.4 CHALLENGES 65
5.2.4.1 Teaching AI to grasp nuance and context-dependent meanings to pose complex linguistic challenges 65
5.2.4.2 Optimal data fusion to present challenges in multimodal AI integration 65
5.2.4.3 Limitations in transferability to pose challenges for multimodal AI adaptation to diverse data types 66
5.3 INDUSTRY TRENDS 66
5.3.1 MULTIMODAL AI: ARCHITECTURE 66
FIGURE 23 MULTIMODAL AI ARCHITECTURE 66
5.3.2 MULTIMODAL AI: EVOLUTION 68
FIGURE 24 MULTIMODAL AI MARKET EVOLUTION 68
5.3.3 VALUE CHAIN ANALYSIS 69
FIGURE 25 MULTIMODAL AI MARKET: VALUE CHAIN ANALYSIS 71
5.3.4 ECOSYSTEM/MARKET MAP 71
FIGURE 26 KEY PLAYERS IN MULTIMODAL AI MARKET ECOSYSTEM 71
TABLE 6 MULTIMODAL AI MARKET: ECOSYSTEM 72
5.3.4.1 Solution Providers 72
5.3.4.2 Service Providers 73
5.3.4.3 End Users 73
5.3.4.4 Regulatory Bodies 73
5.3.5 PRICING ANALYSIS 74
5.3.5.1 Average Selling Price Trend of Key Players: Top 3 Data Modalities 74
FIGURE 27 AVERAGE SELLING PRICE TREND OF KEY PLAYERS: TOP THREE DATA MODALITIES 74
TABLE 7 AVERAGE SELLING PRICE TREND OF KEY PLAYERS FOR TOP THREE DATA MODALITIES (USD) 74
5.3.5.2 Indicative Pricing Analysis of Multimodal AI, By Solution 74
TABLE 8 MULTIMODAL AI: INDICATIVE PRICING LEVELS OF MULTIMODAL AI, BY SOLUTION 75
5.3.6 PORTER’S FIVE FORCES ANALYSIS 75
FIGURE 28 PORTER’S FIVE FORCES ANALYSIS 76
TABLE 9 MULTIMODAL AI MARKET: PORTER’S FIVE FORCES ANALYSIS 76
5.3.6.1 Threat of new entrants 77
5.3.6.2 Threat of substitutes 77
5.3.6.3 Bargaining power of suppliers 77
5.3.6.4 Bargaining power of buyers 77
5.3.6.5 Intensity of competitive rivalry 77
5.3.7 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS 78
5.3.7.1 Trends/Disruptions impacting customer’s business 78
FIGURE 29 MULTIMODAL AI MARKET: TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS 78
5.3.8 TECHNOLOGY ANALYSIS 78
FIGURE 30 MULTIMODAL AI MARKET: TECHNOLOGY ANALYSIS 79
5.3.8.1 Key Technologies 79
5.3.8.1.1 Machine Learning 79
5.3.8.1.2 Natural Language Processing 80
5.3.8.1.3 AR & VR 80
5.3.8.1.4 Computer Vision 81
5.3.8.1.5 IoT 82
5.3.8.2 Complementary Technologies 82
5.3.8.2.1 Cloud Computing 82
5.3.8.2.2 Data Mining 83
5.3.8.2.3 Biometric Authentication 83
5.3.8.3 Adjacent Technologies 84
5.3.8.3.1 Big Data 84
5.3.8.3.2 Predictive Analytics 84
5.3.8.3.3 Edge Computing 85
5.3.8.3.4 Knowledge Graph 85
5.3.9 CASE STUDY ANALYSIS 86
5.3.9.1 CASE STUDY 1: Associated Press revolutionized multimedia processing with Vidrovr 86
5.3.9.2 CASE STUDY 2: SceneXplain’s innovative automation and tagging solution revolutionized European e-commerce platform 87
5.3.9.3 CASE STUDY 3: Global banking group transformed its operations with Uniphore’s AI-driven compliance and monitoring solution 88
5.3.9.4 CASE STUDY 4: Uniphore’s U-Assist solution transformed healthcare services company’s agent guidance 89
5.3.9.5 CASE STUDY 5: Telecom leader enhanced efficiency and customer experience with Uniphore’s AI-powered automation 90
5.3.10 PATENT ANALYSIS 91
5.3.10.1 Methodology 91
5.3.10.2 Patents Filed, By Document Type 91
TABLE 10 PATENTS FILED, BY DOCUMENT TYPE 91
5.3.10.3 Innovation and patent applications 92
FIGURE 31 NUMBER OF PATENTS GRANTED IN LAST 10 YEARS, 2013–2023 92
5.3.10.3.1 Top 10 applicants in multimodal AI market 92
FIGURE 32 TOP 10 APPLICANTS IN MULTIMODAL AI MARKET, 2013–2023 92
FIGURE 33 REGIONAL ANALYSIS OF PATENTS GRANTED, 2013–2023 93
TABLE 11 TOP 20 PATENT OWNERS IN MULTIMODAL AI MARKET, 2013–2023 93
TABLE 12 LIST OF PATENTS GRANTED IN MULTIMODAL AI MARKET, 2023 94
5.3.11 TRADE ANALYSIS 95
5.3.11.1 Import scenario 95
FIGURE 34 COMPUTER SOFTWARE IMPORT, BY KEY COUNTRY, 2015–2022 (USD BILLION) 96
5.3.11.2 Export scenario 96
FIGURE 35 COMPUTER SOFTWARE EXPORT, BY KEY COUNTRY, 2015–2022 (USD BILLION) 97
5.3.12 KEY CONFERENCES & EVENTS, 2023–2025 97
TABLE 13 MULTIMODAL AI MARKET: DETAILED LIST OF CONFERENCES & EVENTS, 2023–2025 97
5.3.13 TARIFF AND REGULATORY LANDSCAPE 98
5.3.13.1 Tariff Related to Multimodal AI Solutions 98
TABLE 14 TARIFF RELATED TO MULTIMODAL AI SOLUTIONS, 2022 98
5.3.13.2 Regulatory Bodies, Government Agencies, and Other Organizations 100
TABLE 15 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 100
TABLE 16 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 101
TABLE 17 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 103
TABLE 18 MIDDLE EAST & AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 104
TABLE 19 LATIN AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 104
5.3.13.3 North America 105
5.3.13.3.1 US 105
5.3.13.3.2 Canada 105
5.3.13.4 Europe 105
5.3.13.5 Asia Pacific 106
5.3.13.5.1 South Korea 106
5.3.13.5.2 China 106
5.3.13.5.3 India 106
5.3.13.6 Middle East & Africa 106
5.3.13.6.1 UAE 106
5.3.13.6.2 KSA 106
5.3.13.6.3 Bahrain 106
5.3.13.7 Latin America 106
5.3.13.7.1 Brazil 107
5.3.13.7.2 Mexico 107
5.3.14 KEY STAKEHOLDERS AND BUYING CRITERIA 107
5.3.14.1 Key Stakeholders in Buying Process 107
FIGURE 36 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS 107
TABLE 20 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS 107
5.3.14.2 Buying Criteria 108
FIGURE 37 KEY BUYING CRITERIA FOR TOP THREE VERTICALS 108
TABLE 21 KEY BUYING CRITERIA FOR TOP THREE VERTICALS 108
5.3.15 BEST PRACTICES IN MULTIMODAL AI MARKET 108
5.3.16 TECHNOLOGY ROADMAP OF MULTIMODAL AI MARKET 110
TABLE 22 SHORT-TERM ROADMAP, 2023–2025 110
TABLE 23 MID-TERM ROADMAP, 2026–2028 110
TABLE 24 LONG-TERM ROADMAP, 2029–2030 111
5.3.17 BUSINESS MODELS OF MULTIMODAL AI MARKET 111
5.3.17.1 SaaS (Software as a Service) Platforms 111
5.3.17.2 Pay-Per-Use or Consumption-Based Pricing 111
5.3.17.3 APIs and SDKs (Software Development Kits) 112
5.3.17.4 Data Annotation and Labeling Services 112
5.3.17.5 Consulting and Integration Services 112
6 MULTIMODAL AI MARKET, BY OFFERING 113
6.1 INTRODUCTION 114
6.1.1 OFFERING: MULTIMODAL AI MARKET DRIVERS 114
FIGURE 38 SERVICES SEGMENT TO WITNESS HIGHER CAGR DURING FORECAST PERIOD 115
TABLE 25 MULTIMODAL AI MARKET, BY OFFERING, 2017–2022 (USD MILLION) 115
TABLE 26 MULTIMODAL AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 115
6.2 SOLUTIONS 116
6.2.1 GROWING DEMAND FOR SEAMLESS INTEGRATION OF DIVERSE DATA SOURCES TO DRIVE MULTIMODAL AI SOLUTIONS MARKET GROWTH 116
FIGURE 39 PLATFORM SEGMENT TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD 116
TABLE 27 MULTIMODAL AI MARKET, BY SOLUTION, 2017–2022 (USD MILLION) 116
TABLE 28 MULTIMODAL AI MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 117
TABLE 29 SOLUTIONS: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 117
TABLE 30 SOLUTIONS: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 117
6.2.2 PLATFORM 118
6.2.2.1 Increasing need for unified solutions within single ecosystem to drive platform segment 118
TABLE 31 PLATFORM: MULTIMODAL AI SOLUTIONS MARKET, BY REGION, 2017–2022 (USD MILLION) 118
TABLE 32 PLATFORM: MULTIMODAL AI SOLUTIONS MARKET, BY REGION, 2023–2028 (USD MILLION) 118
6.2.3 SOFTWARE 119
6.2.3.1 Advanced AI solutions offered by software to fuel market growth 119
TABLE 33 SOFTWARE: MULTIMODAL AI SOLUTIONS MARKET, BY REGION, 2017–2022 (USD MILLION) 119
TABLE 34 SOFTWARE: MULTIMODAL AI SOLUTIONS MARKET, BY REGION, 2023–2028 (USD MILLION) 119
6.2.4 FRAMEWORK 120
6.2.4.1 Multimodal AI frameworks to empower developers with open-source and cloud-native solutions 120
TABLE 35 FRAMEWORK: MULTIMODAL AI SOLUTIONS MARKET, BY REGION, 2017–2022 (USD MILLION) 120
TABLE 36 FRAMEWORK: MULTIMODAL AI SOLUTIONS MARKET, BY REGION, 2023–2028 (USD MILLION) 120
6.3 SOLUTIONS, BY DEPLOYMENT MODE 121
6.3.1 ADAPTABILITY TO CHOOSE BETWEEN CENTRALIZED CLOUD-BASED PROCESSING OR LOCALIZED, SECURE ON-PREMISES DEPLOYMENTS 121
FIGURE 40 CLOUD SEGMENT TO WITNESS HIGHER CAGR DURING FORECAST PERIOD 121
TABLE 37 MULTIMODAL AI MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION) 121
TABLE 38 MULTIMODAL AI MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION) 122
6.3.2 CLOUD 122
6.3.2.1 Cloud to help reduce burden of infrastructure management and overhead costs 122
TABLE 39 CLOUD: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 122
TABLE 40 CLOUD: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 123
6.3.3 ON-PREMISES 123
6.3.3.1 Stringent data governance and security requirements to propel market 123
TABLE 41 ON-PREMISES: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 123
TABLE 42 ON-PREMISES: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 124
6.4 SERVICES 124
6.4.1 SERVICES TO ENABLE ORGANIZATIONS TO EFFECTIVELY IMPLEMENT AND MAINTAIN MULTIMODAL AI SOLUTIONS 124
FIGURE 41 PROFESSIONAL SERVICES TO HOLD LARGER MARKET SIZE DURING FORECAST PERIOD 124
TABLE 43 MULTIMODAL AI MARKET, BY SERVICE, 2017–2022 (USD MILLION) 125
TABLE 44 MULTIMODAL AI MARKET, BY SERVICE, 2023–2028 (USD MILLION) 125
6.4.2 PROFESSIONAL SERVICES 125
6.4.2.1 Requirement of expert guidance and support in implementing multimodal AI solutions to drive segment’s growth 125
FIGURE 42 MULTIMODAL DATA ANNOTATION SEGMENT TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD 126
TABLE 45 PROFESSIONAL SERVICES: MULTIMODAL AI MARKET, BY TYPE, 2017–2022 (USD MILLION) 126
TABLE 46 PROFESSIONAL SERVICES: MULTIMODAL AI MARKET, BY TYPE, 2023–2028 (USD MILLION) 127
TABLE 47 PROFESSIONAL SERVICES: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 127
TABLE 48 PROFESSIONAL SERVICES: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 127
6.4.2.2 Consulting 128
TABLE 49 CONSULTING: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 128
TABLE 50 CONSULTING: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 128
6.4.2.3 Training & Workshops 128
TABLE 51 TRAINING & WORKSHOPS: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 129
TABLE 52 TRAINING & WORKSHOPS: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 129
6.4.2.4 Multimodal Data Integration 129
TABLE 53 MULTIMODAL DATA INTEGRATION: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 130
TABLE 54 MULTIMODAL DATA INTEGRATION: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 130
6.4.2.5 Custom Multimodal AI Development 130
TABLE 55 CUSTOM MULTIMODAL AI DEVELOPMENT: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 131
TABLE 56 CUSTOM MULTIMODAL AI DEVELOPMENT: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 131
6.4.2.6 Multimodal Data Annotation 131
TABLE 57 MULTIMODAL DATA ANNOTATION: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 132
TABLE 58 MULTIMODAL DATA ANNOTATION: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 132
6.4.2.7 Support & Maintenance 132
TABLE 59 SUPPORT & MAINTENANCE: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 133
TABLE 60 SUPPORT & MAINTENANCE: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 133
6.4.3 MANAGED SERVICES 133
6.4.3.1 Increasing complexity of AI implementation to foster multimodal AI adoption 133
TABLE 61 MANAGED SERVICES: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 134
TABLE 62 MANAGED SERVICES: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 134
7 MULTIMODAL AI MARKET, BY DATA MODALITY 135
7.1 INTRODUCTION 136
7.1.1 DATA MODALITY: MULTIMODAL AI MARKET DRIVERS 136
FIGURE 43 VIDEO DATA SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 136
TABLE 63 MULTIMODAL AI MARKET, BY DATA MODALITY, 2017–2022 (USD MILLION) 137
TABLE 64 MULTIMODAL AI MARKET, BY DATA MODALITY, 2023–2028 (USD MILLION) 137
7.2 IMAGE DATA 137
7.2.1 INCREASING NEED FOR ADVANCED VISUAL UNDERSTANDING TO FUEL MARKET FOR IMAGE DATA 137
TABLE 65 IMAGE DATA: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 138
TABLE 66 IMAGE DATA: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 138
7.2.2 IMAGE RECOGNITION 138
7.2.3 OBJECT DETECTION 139
7.2.4 IMAGE CAPTIONING 139
7.2.5 IMAGE GENERATION 140
7.2.6 OTHERS 140
7.3 TEXT DATA 141
7.3.1 TEXT DATA TO REVOLUTIONIZE TEXT ANALYSIS AND INFORMATION EXTRACTION 141
TABLE 67 TEXT DATA: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 141
TABLE 68 TEXT DATA: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 141
7.3.2 NATURAL LANGUAGE UNDERSTANDING 142
7.3.3 SENTIMENT ANALYSIS 142
7.3.4 TEXT GENERATION 143
7.3.5 LANGUAGE TRANSLATION 143
7.3.6 OTHERS 144
7.4 SPEECH AND VOICE DATA 144
7.4.1 SPEECH & VOICE DATA TO DRIVE ADVANCEMENTS IN VOICE ASSISTANTS, VOICE BIOMETRICS, AND USER EXPERIENCES 144
TABLE 69 SPEECH & VOICE DATA: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 145
TABLE 70 SPEECH & VOICE DATA: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 145
7.4.2 SPEECH AND VOICE RECOGNITION 146
7.4.3 VOICE ASSISTANTS 146
7.4.4 VOICE BIOMETRICS 147
7.4.5 SPEECH SYNTHESIS 148
7.4.6 OTHERS 148
7.5 VIDEO DATA 149
7.5.1 SURGE IN VIDEO-BASED CONTENT CONSUMPTION AND DEMAND FOR ENHANCED VIDEO ANALYTICS TO PROPEL MARKET 149
TABLE 71 VIDEO DATA: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 149
TABLE 72 VIDEO DATA: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 150
7.5.2 VIDEO ANALYSIS 150
7.5.3 VIDEO CAPTIONING 151
7.5.4 VIDEO GENERATION 151
7.5.5 OTHERS 151
7.6 AUDIO DATA 152
7.6.1 RISING ADOPTION OF VOICE-ENABLED DEVICES AND PERSONALIZED AUDIO EXPERIENCES TO ENHANCE AUDIO DATA MARKET 152
TABLE 73 AUDIO DATA: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 152
TABLE 74 AUDIO DATA: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 153
7.6.2 AUDIO PROCESSING 153
7.6.3 MUSIC ANALYSIS 153
7.6.4 SOUND CLASSIFICATION 154
7.6.5 OTHERS 154
7.7 OTHER DATA MODALITIES 155
TABLE 75 OTHER DATA MODALITIES: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 155
TABLE 76 OTHER DATA MODALITIES: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 155
8 MULTIMODAL AI MARKET, BY TECHNOLOGY 156
8.1 INTRODUCTION 157
8.1.1 TECHNOLOGY: MULTIMODAL AI MARKET DRIVERS 157
FIGURE 44 NATURAL LANGUAGE PROCESSING TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD 157
TABLE 77 MULTIMODAL AI MARKET, BY TECHNOLOGY, 2017–2022 (USD MILLION) 158
TABLE 78 MULTIMODAL AI MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 158
8.2 MACHINE LEARNING 158
8.2.1 CONTINUOUS EVOLUTION OF ALGORITHMS AND MODELS IN MACHINE LEARNING TO SHAPE MARKET 158
TABLE 79 MACHINE LEARNING: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 159
TABLE 80 MACHINE LEARNING: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 159
8.3 NATURAL LANGUAGE PROCESSING 159
8.3.1 NLP TO REVOLUTIONIZE COMMUNICATION AND COMPREHENSION IN VARIOUS INDUSTRIES AND APPLICATIONS 159
TABLE 81 NATURAL LANGUAGE PROCESSING: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 160
TABLE 82 NATURAL LANGUAGE PROCESSING: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 160
8.4 COMPUTER VISION 160
8.4.1 COMPUTER VISION TO TRANSFORM INDUSTRIES THROUGH ENHANCED IMAGE AND VIDEO ANALYSIS FUNCTIONS 160
TABLE 83 COMPUTER VISION: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 161
TABLE 84 COMPUTER VISION: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 161
8.5 CONTEXT AWARENESS 161
8.5.1 ABILITY OF AI SYSTEMS TO INTERPRET DATA BASED ON SITUATIONAL CONTEXT TO DRIVE SEGMENT’S GROWTH 161
TABLE 85 CONTEXT AWARENESS: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 162
TABLE 86 CONTEXT AWARENESS: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 162
8.6 INTERNET OF THINGS 162
8.6.1 SURGE IN INTERCONNECTED DEVICES GENERATING DIVERSE DATA STREAMS TO BOOST MARKET 162
TABLE 87 INTERNET OF THINGS: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 163
TABLE 88 INTERNET OF THINGS: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 163
9 MULTIMODAL AI MARKET, BY TYPE 164
9.1 INTRODUCTION 165
9.1.1 TYPE: MULTIMODAL AI MARKET DRIVERS 165
FIGURE 45 INTERACTIVE MULTIMODAL AI TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 165
TABLE 89 MULTIMODAL AI MARKET, BY TYPE, 2017–2022 (USD MILLION) 166
TABLE 90 MULTIMODAL AI MARKET, BY TYPE, 2023–2028 (USD MILLION) 166
9.2 GENERATIVE MULTIMODAL AI 166
9.2.1 TRANSFORMATIVE POWER OF GENERATIVE MULTIMODAL AI TO EXTEND BEYOND CONTENT GENERATION 166
TABLE 91 GENERATIVE MULTIMODAL AI: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 167
TABLE 92 GENERATIVE MULTIMODAL AI: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 167
9.3 TRANSLATIVE MULTIMODAL AI 167
9.3.1 ABILITY TO TRANSLATE AND INTERPRET INFORMATION ACROSS DIFFERENT DATA MODALITIES TO DRIVE SEGMENT’S GROWTH 167
TABLE 93 TRANSLATIVE MULTIMODAL AI: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 168
TABLE 94 TRANSLATIVE MULTIMODAL AI: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 168
9.4 EXPLANATORY MULTIMODAL AI 169
9.4.1 INCREASING DEMAND FOR AI SYSTEMS THAT OFFER TRANSPARENT INSIGHTS INTO DECISION-MAKING PROCESSES TO DRIVE SEGMENT’S GROWTH 169
TABLE 95 EXPLANATORY MULTIMODAL AI: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 169
TABLE 96 EXPLANATORY MULTIMODAL AI: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 170
9.5 INTERACTIVE MULTIMODAL AI 170
9.5.1 INTERACTIVE MULTIMODAL AI TO REDEFINE HUMAN-MACHINE INTERACTIONS ACROSS INDUSTRIES 170
TABLE 97 INTERACTIVE MULTIMODAL AI: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 171
TABLE 98 INTERACTIVE MULTIMODAL AI: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 171
10 MULTIMODAL AI MARKET, BY VERTICAL 172
10.1 INTRODUCTION 173
10.1.1 VERTICAL: MULTIMODAL AI MARKET DRIVERS 173
FIGURE 46 AUTOMOTIVE, TRANSPORTATION & LOGISTICS VERTICAL TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 173
TABLE 99 MULTIMODAL AI MARKET, BY VERTICAL, 2017–2022 (USD MILLION) 174
TABLE 100 MULTIMODAL AI MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 174
10.2 HEALTHCARE AND LIFE SCIENCES 175
TABLE 101 HEALTHCARE & LIFE SCIENCES: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 175
TABLE 102 HEALTHCARE & LIFE SCIENCES: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 175
10.2.1 MEDICAL IMAGING AND DIAGNOSTICS 176
10.2.2 PRECISION MEDICINE 176
10.2.3 LIFESTYLE MANAGEMENT & MONITORING, AND WEARABLES 176
10.2.4 MEDICAL RESEARCH 177
10.2.5 ROBOTIC SURGERY ASSISTANCE 177
10.2.6 PATIENT DATA RISK ANALYSIS 177
10.2.7 OTHER APPLICATIONS 177
10.3 BANKING, FINANCIAL SERVICES, AND INSURANCE 178
TABLE 103 BFSI: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 179
TABLE 104 BFSI: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 179
10.3.1 FRAUD DETECTION 179
10.3.2 RISK ASSESSMENT 180
10.3.3 CUSTOMER SERVICE 180
10.3.4 INSURANCE UNDERWRITING 181
10.3.5 FINANCIAL PLANNING & WEALTH MANAGEMENT 181
10.3.6 PERSONALIZATION OF FINANCIAL PRODUCT RECOMMENDATIONS 181
10.3.7 OTHER APPLICATIONS 182
10.4 RETAIL & E-COMMERCE 182
TABLE 105 RETAIL & E-COMMERCE: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 182
TABLE 106 RETAIL & E-COMMERCE: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 183
10.4.1 MULTIMODAL SEARCH AND PERSONALIZED RECOMMENDATION 183
10.4.2 SUPPLY CHAIN OPTIMIZATION 183
10.4.3 PRICE OPTIMIZATION 184
10.4.4 CHATBOT & VIRTUAL ASSISTANTS 184
10.4.5 VIRTUAL STORE MANAGEMENT & CUSTOMER ASSISTANT 185
10.4.6 AUGMENTED REALITY SHOPPING EXPERIENCES 185
10.4.7 OTHER APPLICATIONS 186
10.5 AUTOMOTIVE, TRANSPORTATION, AND LOGISTICS 186
TABLE 107 AUTOMOTIVE, TRANSPORTATION, AND LOGISTICS: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 186
TABLE 108 AUTOMOTIVE, TRANSPORTATION, AND LOGISTICS: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 187
10.5.1 SEMI-AUTONOMOUS & AUTONOMOUS VEHICLES 187
10.5.2 ROUTE OPTIMIZATION 187
10.5.3 SMART LOGISTICS AND WAREHOUSING 188
10.5.4 SUPPLY CHAIN VISIBILITY AND TRACKING 188
10.5.5 TRAFFIC PATTERN ANALYSIS 188
10.5.6 DRIVER MONITORING SYSTEM 189
10.5.7 OTHER APPLICATIONS 189
10.6 TELECOMMUNICATIONS 189
TABLE 109 TELECOMMUNICATIONS: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 190
TABLE 110 TELECOMMUNICATIONS: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 190
10.6.1 NETWORK OPTIMIZATION 190
10.6.2 NETWORK SECURITY 191
10.6.3 CUSTOMER SERVICE SUPPORT 191
10.6.4 NETWORK FAULT PREDICTION 191
10.6.5 VIRTUAL NETWORK ASSISTANT 192
10.6.6 INTELLIGENT CALL ROUTING 192
10.6.7 OTHER APPLICATIONS 193
10.7 GOVERNMENT AND PUBLIC SECTOR 193
TABLE 111 GOVERNMENT & PUBLIC SECTOR: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 193
TABLE 112 GOVERNMENT & PUBLIC SECTOR: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 194
10.7.1 AUTONOMOUS SURVEILLANCE & MONITORING SYSTEM 194
10.7.2 DISASTER RESPONSE & DISCOVERY ASSISTANT 194
10.7.3 E-GOVERNANCE & DIGITAL CITY SERVICES 195
10.7.4 LAW ENFORCEMENT 195
10.7.5 TRANSPORTATION MANAGEMENT 196
10.7.6 ENVIRONMENTAL MONITORING 196
10.7.7 OTHER APPLICATIONS 196
10.8 MANUFACTURING 197
TABLE 113 MANUFACTURING: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 197
TABLE 114 MANUFACTURING: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 197
10.8.1 PREDICTIVE MAINTENANCE 198
10.8.2 QUALITY CONTROL 198
10.8.3 INVENTORY MANAGEMENT 198
10.8.4 COST OPTIMIZATION 199
10.8.5 SUPPLY CHAIN OPTIMIZATION 199
10.8.6 PRODUCTION LINE OPTIMIZATION 200
10.8.7 OTHER APPLICATIONS 200
10.9 MEDIA AND ENTERTAINMENT 201
TABLE 115 MEDIA & ENTERTAINMENT: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 201
TABLE 116 MEDIA & ENTERTAINMENT: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 201
10.9.1 PERSONALIZED CONTENT RECOMMENDATIONS 202
10.9.2 CONTENT CREATION AND GENERATION 202
10.9.3 CONTENT COPYRIGHT PROTECTION 202
10.9.4 AUDIENCE ANALYTICS AND SEGMENTATION 203
10.9.5 PERSONALIZED ADVERTISING 203
10.9.6 SOCIAL MEDIA ANALYSIS 203
10.9.7 OTHER APPLICATIONS 204
10.10 OTHER VERTICALS 204
TABLE 117 OTHER VERTICALS: MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 205
TABLE 118 OTHER VERTICALS: MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 205
11 MULTIMODAL AI MARKET, BY REGION 206
11.1 INTRODUCTION 207
FIGURE 47 SOUTH AFRICA TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD 207
FIGURE 48 ASIA PACIFIC TO ACCOUNT FOR HIGHEST CAGR DURING FORECAST PERIOD 208
TABLE 119 MULTIMODAL AI MARKET, BY REGION, 2017–2022 (USD MILLION) 208
TABLE 120 MULTIMODAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 208
11.2 NORTH AMERICA 209
11.2.1 NORTH AMERICA: MULTIMODAL AI MARKET DRIVERS 209
11.2.2 NORTH AMERICA: RECESSION IMPACT 210
FIGURE 49 NORTH AMERICA: MARKET SNAPSHOT 210
TABLE 121 NORTH AMERICA: MULTIMODAL AI MARKET, BY COUNTRY, 2017–2022 (USD MILLION) 211
TABLE 122 NORTH AMERICA: MULTIMODAL AI MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 211
TABLE 123 NORTH AMERICA: MULTIMODAL AI MARKET, BY OFFERING, 2017–2022 (USD MILLION) 211
TABLE 124 NORTH AMERICA: MULTIMODAL AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 211
TABLE 125 NORTH AMERICA: MULTIMODAL AI MARKET, BY SOLUTION, 2017–2022 (USD MILLION) 212
TABLE 126 NORTH AMERICA: MULTIMODAL AI MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 212
TABLE 127 NORTH AMERICA: MULTIMODAL AI SOLUTIONS MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION) 212
TABLE 128 NORTH AMERICA: MULTIMODAL AI SOLUTIONS MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION) 212
TABLE 129 NORTH AMERICA: MULTIMODAL AI MARKET, BY SERVICE, 2017–2022 (USD MILLION) 213
TABLE 130 NORTH AMERICA: MULTIMODAL AI MARKET, BY SERVICE, 2023–2028 (USD MILLION) 213
TABLE 131 NORTH AMERICA: MULTIMODAL AI MARKET, BY PROFESSIONAL SERVICE, 2017–2022 (USD MILLION) 213
TABLE 132 NORTH AMERICA: MULTIMODAL AI MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 214
TABLE 133 NORTH AMERICA: MULTIMODAL AI MARKET, BY DATA MODALITY, 2017–2022 (USD MILLION) 214
TABLE 134 NORTH AMERICA: MULTIMODAL AI MARKET, BY DATA MODALITY, 2023–2028 (USD MILLION) 214
TABLE 135 NORTH AMERICA: MULTIMODAL AI MARKET, BY TYPE, 2017–2022 (USD MILLION) 215
TABLE 136 NORTH AMERICA: MULTIMODAL AI MARKET, BY TYPE, 2023–2028 (USD MILLION) 215
TABLE 137 NORTH AMERICA: MULTIMODAL AI MARKET, BY TECHNOLOGY, 2017–2022 (USD MILLION) 215
TABLE 138 NORTH AMERICA: MULTIMODAL AI MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 216
TABLE 139 NORTH AMERICA: MULTIMODAL AI MARKET, BY VERTICAL, 2017–2022 (USD MILLION) 216
TABLE 140 NORTH AMERICA: MULTIMODAL AI MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 217
11.2.3 US 217
11.2.3.1 Presence of significant number of top-tier AI researchers in US institutions to drive market growth 217
11.2.4 CANADA 218
11.2.4.1 Robust Canadian commitment to AI innovation to propel multimodal AI sector 218
11.3 EUROPE 218
11.3.1 EUROPE: MULTIMODAL AI MARKET DRIVERS 219
11.3.2 EUROPE: RECESSION IMPACT 219
TABLE 141 EUROPE: MULTIMODAL AI MARKET, BY COUNTRY, 2017–2022 (USD MILLION) 220
TABLE 142 EUROPE: MULTIMODAL AI MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 220
TABLE 143 EUROPE: MULTIMODAL AI MARKET, BY OFFERING, 2017–2022 (USD MILLION) 220
TABLE 144 EUROPE: MULTIMODAL AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 221
TABLE 145 EUROPE: MULTIMODAL AI MARKET, BY SOLUTION, 2017–2022 (USD MILLION) 221
TABLE 146 EUROPE: MULTIMODAL AI MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 221
TABLE 147 EUROPE: MULTIMODAL AI SOLUTIONS MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION) 221
TABLE 148 EUROPE: MULTIMODAL AI SOLUTIONS MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION) 222
TABLE 149 EUROPE: MULTIMODAL AI MARKET, BY SERVICE, 2017–2022 (USD MILLION) 222
TABLE 150 EUROPE: MULTIMODAL AI MARKET, BY SERVICE, 2023–2028 (USD MILLION) 222
TABLE 151 EUROPE: MULTIMODAL AI MARKET, BY PROFESSIONAL SERVICE, 2017–2022 (USD MILLION) 222
TABLE 152 EUROPE: MULTIMODAL AI MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 223
TABLE 153 EUROPE: MULTIMODAL AI MARKET, BY DATA MODALITY, 2017–2022 (USD MILLION) 223
TABLE 154 EUROPE: MULTIMODAL AI MARKET, BY DATA MODALITY, 2023–2028 (USD MILLION) 223
TABLE 155 EUROPE: MULTIMODAL AI MARKET, BY TYPE, 2017–2022 (USD MILLION) 224
TABLE 156 EUROPE: MULTIMODAL AI MARKET, BY TYPE, 2023–2028 (USD MILLION) 224
TABLE 157 EUROPE: MULTIMODAL AI MARKET, BY TECHNOLOGY, 2017–2022 (USD MILLION) 224
TABLE 158 EUROPE: MULTIMODAL AI MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 225
TABLE 159 EUROPE: MULTIMODAL AI MARKET, BY VERTICAL, 2017–2022 (USD MILLION) 225
TABLE 160 EUROPE: MULTIMODAL AI MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 225
11.3.3 UK 226
11.3.3.1 Vast repository of health records to serve as substantial asset and advantage for UK’s multimodal AI market 226
11.3.4 GERMANY 226
11.3.4.1 Dedicated financial commitment and strategic investments in infrastructure to drive adoption of AI and ML technologies 226
11.3.5 FRANCE 227
11.3.5.1 Strategic focus on open-source AI initiatives in France to boost multimodal AI development 227
11.3.6 SPAIN 227
11.3.6.1 Active support and initiatives from Spanish government to accelerate growth of AI 227
11.3.7 ITALY 228
11.3.7.1 Implementation of three-year Strategic Plan for AI to expand Italian market 228
11.3.8 REST OF EUROPE 228
11.4.1 ASIA PACIFIC: MULTIMODAL AI MARKET DRIVERS 230
11.4.2 ASIA PACIFIC: RECESSION IMPACT 230
FIGURE 50 ASIA PACIFIC: MARKET SNAPSHOT 231
TABLE 161 ASIA PACIFIC: MULTIMODAL AI MARKET, BY COUNTRY/REGION, 2017–2022 (USD MILLION) 232
TABLE 162 ASIA PACIFIC: MULTIMODAL AI MARKET, BY COUNTRY/REGION, 2023–2028 (USD MILLION) 232
TABLE 163 ASIA PACIFIC: MULTIMODAL AI MARKET, BY OFFERING, 2017–2022 (USD MILLION) 232
TABLE 164 ASIA PACIFIC: MULTIMODAL AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 233
TABLE 165 ASIA PACIFIC: MULTIMODAL AI MARKET, BY SOLUTION, 2017–2022 (USD MILLION) 233
TABLE 166 ASIA PACIFIC: MULTIMODAL AI MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 233
TABLE 167 ASIA PACIFIC: MULTIMODAL AI SOLUTIONS MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION) 233
TABLE 168 ASIA PACIFIC: MULTIMODAL AI SOLUTIONS MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION) 234
TABLE 169 ASIA PACIFIC: MULTIMODAL AI MARKET, BY SERVICE, 2017–2022 (USD MILLION) 234
TABLE 170 ASIA PACIFIC: MULTIMODAL AI MARKET, BY SERVICE, 2023–2028 (USD MILLION) 234
TABLE 171 ASIA PACIFIC: MULTIMODAL AI MARKET, BY PROFESSIONAL SERVICE, 2017–2022 (USD MILLION) 234
TABLE 172 ASIA PACIFIC: MULTIMODAL AI MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 235
TABLE 173 ASIA PACIFIC: MULTIMODAL AI MARKET, BY DATA MODALITY, 2017–2022 (USD MILLION) 235
TABLE 174 ASIA PACIFIC: MULTIMODAL AI MARKET, BY DATA MODALITY, 2023–2028 (USD MILLION) 235
TABLE 175 ASIA PACIFIC: MULTIMODAL AI MARKET, BY TYPE, 2017–2022 (USD MILLION) 236
TABLE 176 ASIA PACIFIC: MULTIMODAL AI MARKET, BY TYPE, 2023–2028 (USD MILLION) 236
TABLE 177 ASIA PACIFIC: MULTIMODAL AI MARKET, BY TECHNOLOGY, 2017–2022 (USD MILLION) 236
TABLE 178 ASIA PACIFIC: MULTIMODAL AI MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 237
TABLE 179 ASIA PACIFIC: MULTIMODAL AI MARKET, BY VERTICAL, 2017–2022 (USD MILLION) 237
TABLE 180 ASIA PACIFIC: MULTIMODAL AI MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 237
11.4.3 CHINA 238
11.4.3.1 Substantial investments made by Chinese government in AI R&D to foster market growth 238
11.4.4 JAPAN 238
11.4.4.1 Focus on AI-driven robotics and healthcare solutions to drive nation’s advancement in multimodal AI market 238
11.4.5 INDIA 239
11.4.5.1 Indian government’s doubled investment in AI and ML research and establishment of National Program on AI to boost market 239
11.4.6 SOUTH KOREA 240
11.4.6.1 Strong emphasis on patenting across diverse AI fields to drive growth in South Korean multimodal AI market 240
11.4.7 ASEAN COUNTRIES 241
11.4.7.1 Active engagement of governments and authorities across nations to drive market 241
11.4.8 AUSTRALIA & NEW ZEALAND 241
11.4.8.1 Increasing investment in software solutions to bolster multimodal AI software market 241
11.4.9 REST OF ASIA PACIFIC 242
11.5 MIDDLE EAST & AFRICA 242
11.5.1 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET DRIVERS 243
11.5.2 MIDDLE EAST & AFRICA: RECESSION IMPACT 243
TABLE 181 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY COUNTRY/REGION, 2017–2022 (USD MILLION) 244
TABLE 182 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY COUNTRY/REGION, 2023–2028 (USD MILLION) 244
TABLE 183 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY OFFERING, 2017–2022 (USD MILLION) 244
TABLE 184 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 245
TABLE 185 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY SOLUTION, 2017–2022 (USD MILLION) 245
TABLE 186 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 245
TABLE 187 MIDDLE EAST & AFRICA: MULTIMODAL AI SOLUTIONS MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION) 245
TABLE 188 MIDDLE EAST & AFRICA: MULTIMODAL AI SOLUTIONS MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION) 246
TABLE 189 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY SERVICE, 2017–2022 (USD MILLION) 246
TABLE 190 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY SERVICE, 2023–2028 (USD MILLION) 246
TABLE 191 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY PROFESSIONAL SERVICE, 2017–2022 (USD MILLION) 246
TABLE 192 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 247
TABLE 193 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY DATA MODALITY, 2017–2022 (USD MILLION) 247
TABLE 194 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY DATA MODALITY, 2023–2028 (USD MILLION) 247
TABLE 195 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY TYPE, 2017–2022 (USD MILLION) 248
TABLE 196 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY TYPE, 2023–2028 (USD MILLION) 248
TABLE 197 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY TECHNOLOGY, 2017–2022 (USD MILLION) 248
TABLE 198 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 249
TABLE 199 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY VERTICAL, 2017–2022 (USD MILLION) 249
TABLE 200 MIDDLE EAST & AFRICA: MULTIMODAL AI MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 250
11.5.3 UAE 250
11.5.3.1 Implementation of National Artificial Intelligence Strategy 2031 to highlight country’s commitment to AI adoption 250
11.5.4 KSA 251
11.5.4.1 Government’s commitment to technological progress and economic diversification outlined in Vision 2030 initiative to drive market growth 251
11.5.5 EGYPT 251
11.5.5.1 Surge in Egypt’s government-led initiatives and institutional commitments to AI education and research to propel market 251
11.5.6 SOUTH AFRICA 252
11.5.6.1 Growth of ICT sector and adoption of AI technologies to fuel diverse AI-driven solutions 252
11.5.7 TURKEY 252
11.5.7.1 Global initiative in NLP poised to uplift growth in multimodal AI market 252
11.5.8 QATAR 253
11.5.8.1 Exponential growth of AI technology in country to help boost market 253
11.5.9 REST OF MIDDLE EAST & AFRICA 253
11.6 LATIN AMERICA 253
11.6.1 LATIN AMERICA: MULTIMODAL AI MARKET DRIVERS 254
11.6.2 LATIN AMERICA: RECESSION IMPACT 254
TABLE 201 LATIN AMERICA: MULTIMODAL AI MARKET, BY COUNTRY, 2017–2022 (USD MILLION) 255
TABLE 202 LATIN AMERICA: MULTIMODAL AI MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 255
TABLE 203 LATIN AMERICA: MULTIMODAL AI MARKET, BY OFFERING, 2017–2022 (USD MILLION) 255
TABLE 204 LATIN AMERICA: MULTIMODAL AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 256
TABLE 205 LATIN AMERICA: MULTIMODAL AI MARKET, BY SOLUTION, 2017–2022 (USD MILLION) 256
TABLE 206 LATIN AMERICA: MULTIMODAL AI MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 256
TABLE 207 LATIN AMERICA: MULTIMODAL AI SOLUTIONS MARKET, BY DEPLOYMENT MODE, 2017–2022 (USD MILLION) 256
TABLE 208 LATIN AMERICA: MULTIMODAL AI SOLUTIONS MARKET, BY DEPLOYMENT MODE, 2023–2028 (USD MILLION) 257
TABLE 209 LATIN AMERICA: MULTIMODAL AI MARKET, BY SERVICE, 2017–2022 (USD MILLION) 257
TABLE 210 LATIN AMERICA: MULTIMODAL AI MARKET, BY SERVICE, 2023–2028 (USD MILLION) 257
TABLE 211 LATIN AMERICA: MULTIMODAL AI MARKET, BY PROFESSIONAL SERVICE, 2017–2022 (USD MILLION) 257
TABLE 212 LATIN AMERICA: MULTIMODAL AI MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 258
TABLE 213 LATIN AMERICA: MULTIMODAL AI MARKET, BY DATA MODALITY, 2017–2022 (USD MILLION) 258
TABLE 214 LATIN AMERICA: MULTIMODAL AI MARKET, BY DATA MODALITY, 2023–2028 (USD MILLION) 258
TABLE 215 LATIN AMERICA: MULTIMODAL AI MARKET, BY TYPE, 2017–2022 (USD MILLION) 259
TABLE 216 LATIN AMERICA: MULTIMODAL AI MARKET, BY TYPE, 2023–2028 (USD MILLION) 259
TABLE 217 LATIN AMERICA: MULTIMODAL AI MARKET, BY TECHNOLOGY, 2017–2022 (USD MILLION) 259
TABLE 218 LATIN AMERICA: MULTIMODAL AI MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 260
TABLE 219 LATIN AMERICA: MULTIMODAL AI MARKET, BY VERTICAL, 2017–2022 (USD MILLION) 260
TABLE 220 LATIN AMERICA: MULTIMODAL AI MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 260
11.6.3 BRAZIL 261
11.6.3.1 Growing implementation of stringent regulations to create favorable environment for multimodal AI in Brazil 261
11.6.4 MEXICO 261
11.6.4.1 Mexican government to shape development and adoption of AI technology 261
11.6.5 ARGENTINA 262
11.6.5.1 Developed telecommunications infrastructure to help foster market growth 262
11.6.6 REST OF LATIN AMERICA 262
12 COMPETITIVE LANDSCAPE 264
12.1 OVERVIEW 264
12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 264
TABLE 221 OVERVIEW OF STRATEGIES ADOPTED BY KEY MULTIMODAL AI VENDORS 264
12.3 REVENUE ANALYSIS 266
FIGURE 51 BUSINESS SEGMENT REVENUE ANALYSIS FOR KEY PLAYERS, 2018–2022 (USD BILLION) 266
12.4 MARKET SHARE ANALYSIS 267
FIGURE 52 MULTIMODAL AI MARKET: MARKET SHARE ANALYSIS FOR KEY PLAYERS, 2022 267
TABLE 222 MULTIMODAL AI MARKET: DEGREE OF COMPETITION 267
12.5 BRAND/PRODUCT COMPARATIVE ANALYSIS 268
TABLE 223 BRAND/PRODUCT COMPARATIVE ANALYSIS 268
12.6 COMPANY EVALUATION MATRIX, 2022 268
12.6.1 STARS 268
12.6.2 EMERGING LEADERS 268
12.6.3 PERVASIVE PLAYERS 269
12.6.4 PARTICIPANTS 269
FIGURE 53 MULTIMODAL AI MARKET: COMPANY EVALUATION MATRIX, 2022 269
12.6.5 COMPANY FOOTPRINT FOR KEY PLAYERS 270
FIGURE 54 PRODUCT FOOTPRINT (20 COMPANIES) 270
TABLE 224 VERTICAL FOOTPRINT (20 COMPANIES) 271
TABLE 225 REGIONAL FOOTPRINT (20 COMPANIES) 272
TABLE 226 COMPANY FOOTPRINT (20 COMPANIES) 273
12.7 STARTUP/SME EVALUATION MATRIX, 2022 274
12.7.1 PROGRESSIVE COMPANIES 274
12.7.2 RESPONSIVE COMPANIES 274
12.7.3 DYNAMIC COMPANIES 274
12.7.4 STARTING BLOCKS 274
FIGURE 55 MULTIMODAL AI MARKET: STARTUP/SME EVALUATION MATRIX, 2022 275
12.7.5 COMPETITIVE BENCHMARKING 276
TABLE 227 MULTIMODAL AI MARKET: DETAILED LIST OF KEY STARTUP/SMES 276
TABLE 228 MULTIMODAL AI MARKET: COMPETITIVE BENCHMARKING OF STARTUPS/SMES 276
12.8 COMPETITIVE SCENARIO AND TRENDS 277
12.8.1 PRODUCT LAUNCHES 277
TABLE 229 MULTIMODAL AI MARKET: PRODUCT LAUNCHES, JANUARY 2021–NOVEMBER 2023 277
12.8.2 DEALS 279
TABLE 230 MULTIMODAL AI MARKET: DEALS, JANUARY 2021–NOVEMBER 2023 279
12.8.3 OTHERS 281
TABLE 231 MULTIMODAL AI MARKET: OTHERS, JANUARY 2021– NOVEMBER 2023 281
12.9 VALUATION AND FINANCIAL METRICS OF KEY VENDORS 281
FIGURE 56 VALUATION AND FINANCIAL METRICS OF KEY VENDORS 281
12.10 YTD PRICE TOTAL RETURN AND 5-YEAR STOCK BETA OF KEY VENDORS 282
FIGURE 57 YTD PRICE TOTAL RETURN AND 5-YEAR STOCK BETA OF KEY VENDORS 282
13 COMPANY PROFILES 283
13.1 INTRODUCTION 283
13.2 KEY PLAYERS 283
(Business Overview, Products/Solutions/Services offered, Recent Developments, MnM View)*
13.2.1 GOOGLE 283
TABLE 232 GOOGLE: BUSINESS OVERVIEW 284
FIGURE 58 GOOGLE: COMPANY SNAPSHOT 284
TABLE 233 GOOGLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 285
TABLE 234 GOOGLE: PRODUCT LAUNCHES AND ENHANCEMENTS 286
TABLE 235 GOOGLE: DEALS 287
TABLE 236 GOOGLE: OTHERS 292
13.2.2 MICROSOFT 294
TABLE 237 MICROSOFT: BUSINESS OVERVIEW 294
FIGURE 59 MICROSOFT: COMPANY SNAPSHOT 295
TABLE 238 MICROSOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED 295
TABLE 239 MICROSOFT: PRODUCT LAUNCHES AND ENHANCEMENTS 296
TABLE 240 MICROSOFT: DEALS 298
13.2.3 OPENAI 303
TABLE 241 OPENAI: BUSINESS OVERVIEW 303
TABLE 242 OPENAI: PRODUCTS/SOLUTIONS/SERVICES OFFERED 303
TABLE 243 OPENAI: PRODUCT LAUNCHES AND ENHANCEMENTS 304
TABLE 244 OPENAI: DEALS 306
TABLE 245 OPENAI: OTHERS 307
13.2.4 META 309
TABLE 246 META: BUSINESS OVERVIEW 309
FIGURE 60 META: COMPANY SNAPSHOT 310
TABLE 247 META: PRODUCTS/SOLUTIONS/SERVICES OFFERED 310
TABLE 248 META: PRODUCT LAUNCHES AND ENHANCEMENTS 311
TABLE 249 META: DEALS 313
13.2.5 AWS 316
TABLE 250 AWS: BUSINESS OVERVIEW 316
FIGURE 61 AWS: COMPANY SNAPSHOT 317
TABLE 251 AWS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 317
TABLE 252 AWS: PRODUCT LAUNCHES AND ENHANCEMENTS 318
TABLE 253 AWS: DEALS 319
TABLE 254 AWS: OTHERS 320
13.2.6 IBM 322
TABLE 255 IBM: BUSINESS OVERVIEW 322
FIGURE 62 IBM: COMPANY SNAPSHOT 323
TABLE 256 IBM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 323
TABLE 257 IBM: PRODUCT LAUNCHES AND ENHANCEMENTS 324
TABLE 258 IBM: DEALS 326
TABLE 259 IBM: OTHERS 328
13.2.7 TWELVE LABS 329
TABLE 260 TWELVE LABS: BUSINESS OVERVIEW 329
TABLE 261 TWELVE LABS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 329
TABLE 262 TWELVE LABS: PRODUCT LAUNCHES AND ENHANCEMENTS 330
TABLE 263 TWELVE LABS: DEALS 330
13.2.8 AIMESOFT 331
TABLE 264 AIMESOFT: BUSINESS OVERVIEW 331
TABLE 265 AIMESOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED 331
TABLE 266 AIMESOFT: PRODUCT LAUNCHES AND ENHANCEMENTS 333
13.2.9 JINA AI 335
TABLE 267 JINA AI: BUSINESS OVERVIEW 335
TABLE 268 JINA AI: PRODUCTS/SOLUTIONS/SERVICES OFFERED 335
TABLE 269 JINA AI: PRODUCT LAUNCHES AND ENHANCEMENTS 336
13.2.10 UNIPHORE 339
TABLE 270 UNIPHORE: BUSINESS OVERVIEW 339
TABLE 271 UNIPHORE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 339
TABLE 272 UNIPHORE: PRODUCT LAUNCHES AND ENHANCEMENTS 340
TABLE 273 UNIPHORE: DEALS 341
TABLE 274 UNIPHORE: OTHERS 343
*Details on Business Overview, Products/Solutions/Services offered, Recent Developments, MnM View might not be captured in case of unlisted companies.
13.3 OTHER PLAYERS 344
13.3.1 HABANA LABS 344
13.3.2 REKA AI 345
13.3.3 RUNWAY AI 346
13.3.4 JIVA.AI 347
13.3.5 MODALITY.AI 347
13.3.6 OPENSTREAM.AI 348
13.3.7 VIDROVR 348
13.3.8 MOBIUS LABS 349
13.3.9 NEWSBRIDGE 350
13.3.10 PERCEIV AI 351
13.4 STARTUPS/SMES 352
13.4.1 MULTIMODAL 352
13.4.2 NEURAPTIC AI 353
13.4.3 INWORLD AI 353
13.4.4 AIBERRY 354
13.4.5 ONE AI 354
13.4.6 BEEWANT 355
13.4.7 OWLBOT.AI 356
13.4.8 HOPPR 356
13.4.9 ARCHETYPE AI 357
13.4.10 STABILITY AI 358
14 ADJACENT AND RELATED MARKETS 359
14.1 ADJACENT AND RELATED MARKETS 359
14.1.1 INTRODUCTION 359
14.2 GENERATIVE AI MARKET—GLOBAL FORECAST TO 2030 359
14.2.1 MARKET DEFINITION 359
14.2.2 MARKET OVERVIEW 359
TABLE 275 GLOBAL GENERATIVE AI MARKET SIZE AND GROWTH RATE, 2019–2022 (USD MILLION, Y-O-Y %) 360
TABLE 276 GLOBAL GENERATIVE AI MARKET SIZE AND GROWTH RATE, 2023–2030 (USD MILLION, Y-O-Y %) 360
14.2.3 GENERATIVE AI MARKET, BY OFFERING 360
TABLE 277 GENERATIVE AI MARKET, BY OFFERING, 2019–2022 (USD MILLION) 360
TABLE 278 GENERATIVE AI MARKET, BY OFFERING, 2023–2030 (USD MILLION) 361
14.2.4 GENERATIVE AI MARKET, BY REGION 361
TABLE 279 GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 361
TABLE 280 GENERATIVE AI MARKET, BY REGION, 2023–2030 (USD MILLION) 362
14.3 NATURAL LANGUAGE PROCESSING (NLP) MARKET— GLOBAL FORECAST TO 2030 362
14.3.1 MARKET DEFINITION 362
14.3.2 MARKET OVERVIEW 362
TABLE 281 NATURAL LANGUAGE PROCESSING MARKET SIZE AND GROWTH RATE, 2017–2022 (USD MILLION, Y-O-Y) 363
TABLE 282 NATURAL LANGUAGE PROCESSING MARKET SIZE AND GROWTH RATE, 2023–2028 (USD MILLION, Y-O-Y) 363
14.3.3 NATURAL LANGUAGE PROCESSING MARKET, BY OFFERING 363
TABLE 283 NATURAL LANGUAGE PROCESSING MARKET, BY OFFERING, 2017–2022 (USD MILLION) 363
TABLE 284 NATURAL LANGUAGE PROCESSING MARKET, BY OFFERING, 2023–2028 (USD MILLION) 364
14.3.4 NATURAL LANGUAGE PROCESSING MARKET, BY TYPE 364
TABLE 285 NATURAL LANGUAGE PROCESSING MARKET, BY TYPE, 2017–2022 (USD MILLION) 364
TABLE 286 NATURAL LANGUAGE PROCESSING MARKET, BY TYPE, 2023–2028 (USD MILLION) 364
14.3.5 NATURAL LANGUAGE PROCESSING MARKET, BY APPLICATION 365
TABLE 287 NATURAL LANGUAGE PROCESSING MARKET, BY APPLICATION, 2017–2022 (USD MILLION) 365
TABLE 288 NATURAL LANGUAGE PROCESSING MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 366
14.3.6 NATURAL LANGUAGE PROCESSING MARKET, BY TECHNOLOGY 366
TABLE 289 NATURAL LANGUAGE PROCESSING MARKET, BY TECHNOLOGY, 2017–2022 (USD MILLION) 366
TABLE 290 NATURAL LANGUAGE PROCESSING MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 367
14.3.7 NATURAL LANGUAGE PROCESSING MARKET, BY VERTICAL 367
TABLE 291 NATURAL LANGUAGE PROCESSING MARKET, BY VERTICAL, 2017–2022 (USD MILLION) 367
TABLE 292 NATURAL LANGUAGE PROCESSING MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 368
14.3.8 NATURAL LANGUAGE PROCESSING MARKET, BY REGION 368
TABLE 293 NATURAL LANGUAGE PROCESSING MARKET, BY REGION, 2017–2022 (USD MILLION) 369
TABLE 294 NATURAL LANGUAGE PROCESSING MARKET, BY REGION, 2023–2028 (USD MILLION) 369
15 APPENDIX 370
15.1 DISCUSSION GUIDE 370
15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 377
15.3 CUSTOMIZATION OPTIONS 379
15.4 RELATED REPORTS 379
15.5 AUTHOR DETAILS 380
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