Press Release

Multimodal AI Market Worth Reaching USD 5.6 Billion in 2030 from USD 1.35 Billion in 2024

The Global Multimodal AI Market size was valued at USD 1.35 billion in 2024 and is projected to reach USD 5.6 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 32.91% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. The factors that positively influence the demand for multimodal AI solutions are the digitalization initiatives laid by governing bodies, the rapid rise in online fraudulent activities, and the proliferation of digital technologies across various industry verticals. Governments are making drastic investments to upgrade their digital framework & provide consumers with better digital services. This in turn is resulting in the countries experiencing a surge in internet penetration. This higher internet penetration is resulting in small & large enterprises opting for digital solutions which include multimodal AI solutions, thus propelling market growth even further.

In addition, internet penetration rates in various countries across Asia-Pacific, the Middle East, and Europe are increasing. This surge in internet accessibility & increased smartphone usage is creating a favorable environment for digital services. Hence, various industry verticals are transitioning their operations to online platforms to gain an edge over other market players, fueling the demand for solutions like multimodal AI across the globe.

Moreover, governments of major nations, like India, Indonesia, etc., are increasingly laying digital action plans & programs to streamline administrative processes and enhance governance efficiency while maintaining transparency. Therefore, countries with administrative inefficiencies are increasingly adopting digital technologies, contributing to the growth of the Global Multimodal AI Market. Furthermore, both the public & private sectors are increasingly deploying 5G networks to bolster connectivity for seamless data exchange among end-users. These network upgrades would further drive the demand for multimodal AI solutions within various industry verticals, “Global Multimodal AI Market Analysis, 2025.”

The Global Multimodal AI Market size was valued at USD 1.35 billion in 2024 and is projected to reach USD 5.6 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 32.91% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. The factors that positively influence the demand for multimodal AI solutions are the digitalization initiatives laid by governing bodies, the rapid rise in online fraudulent activities, and the proliferation of digital technologies across various industry verticals. Governments are making drastic investments to upgrade their digital framework & provide consumers with better digital services. This in turn is resulting in the countries experiencing a surge in internet penetration. This higher internet penetration is resulting in small & large enterprises opting for digital solutions which include multimodal AI solutions, thus propelling market growth even further.

In addition, internet penetration rates in various countries across Asia-Pacific, the Middle East, and Europe are increasing. This surge in internet accessibility & increased smartphone usage is creating a favorable environment for digital services. Hence, various industry verticals are transitioning their operations to online platforms to gain an edge over other market players, fueling the demand for solutions like multimodal AI across the globe.

Moreover, governments of major nations, like India, Indonesia, etc., are increasingly laying digital action plans & programs to streamline administrative processes and enhance governance efficiency while maintaining transparency. Therefore, countries with administrative inefficiencies are increasingly adopting digital technologies, contributing to the growth of the Global Multimodal AI Market. Furthermore, both the public & private sectors are increasingly deploying 5G networks to bolster connectivity for seamless data exchange among end-users. These network upgrades would further drive the demand for multimodal AI solutions within various industry verticals, “Global Multimodal AI Market Analysis, 2025.”