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Multimodal AI Market Trends

  • Report ID: GMI10071
  • Published Date: Jul 2024
  • Report Format: PDF

Multimodal AI Market Trends

In the multimodal AI sector, integrating augmented reality (AR) and virtual reality (VR) technology is one of the most important trends. In a variety of contexts, including gaming, education, training, and remote collaboration, this combination produces immersive experiences that improve user involvement. Multimodal AI in gaming can decipher voice commands, facial emotions, and user movements to produce more responsive and captivating game environments.
 

By fusing visual, aural, and kinesthetic learning modes, multimodal AI-powered AR and VR in education provide engaging and customized learning experiences. These technologies offer realistic simulations for skill improvement in professional training, especially in emergency response, aviation, and healthcare. Combining AR, VR, and multimodal AI increases user engagement and creates new possibilities for applications that require a high degree of immersion and interactivity.
 

The adoption of edge computing and the rollout of 5G networks is another key trend propelling the multimodal AI market. For real-time multimodal AI applications, edge computing minimizes latency and bandwidth consumption by processing data closer to the source. This is especially helpful for smart systems and IoT devices, which depend on speedy data processing to work properly. The deployment of 5G has led to improved network capabilities that offer the speed and dependability required to process massive amounts of multimodal data.
 

For sectors like driverless cars, where quick data processing from several sensors is essential for performance and safety, this combination is revolutionary. In a similar vein, edge computing and 5G provide effective energy distribution, traffic control, and public safety services by integrating data from multiple sources in real-time. The synergy between edge computing, 5G, and multimodal AI accelerates the development of responsive and intelligent systems across various sectors.
 

Authors: Suraj Gujar, Kanhaiya Kathoke

Frequently Asked Questions (FAQ) :

The market size of multimodal AI reached USD 1.2 billion in 2023 and is set to witness over 30% CAGR from 2024 to 2032, owing to the rising development of human-machine interaction worldwide.

Multimodal AI industry from the speech & voice data segment is expected to register over 30% CAGR from 2024 to 2032, due to voice data segment concentrating on the examination and application of vocal traits to derive significant information that extends beyond spoken words.

North America market held over 35% share in 2023, attributed to advanced technological infrastructure that facilitates the use of complex AI systems in the region.

Google Inc., Microsoft Corporation, IBM (International Business Machines Corporation), Amazon Web Services, Inc., Modality.AI Inc., Jina AI GmbH, and OpenAI Inc., are some of the major multimodal AI companies worldwide.

Multimodal AI Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 25
  • Tables & Figures: 320
  • Countries covered: 21
  • Pages: 410
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