Multimodal AI Market Size Is Expected To Reach USD 10.89 Billion By 2030
San Francisco, 20 May 2024: The Report Multimodal AI Market Size, Share & Trends Analysis Report By Component (Software, Service), By Data Modality (Image Data, Text Data), By End-use (Media & Entertainment, BFSI), By Enterprise Size, By Region, And Segment Forecasts, 2024 - 2030 The global multimodal AI market size is estimated to reach USD 10.89 billion by 2030 growing at a CAGR of 35.8% during the forecast period, 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, vir