Asia Pacific Multimodal AI Market Forecast to 2031 - Regional Analysis - by Component (Solution and Service), Organization Size (SMEs and Large Enterprises), Data Type (Audio & Video, Image, and Text), and End use (Automotive and Transportation, BFSI, E-commerce and Retail, Healthcare, IT and Telecom, Media & Entertainment, and Others)
The Asia Pacific multimodal AI market was valued at US$ 181.64 million in 2023 and is expected to reach US$ 2,355.86 million by 2031; it is estimated to register a CAGR of 37.8% from 2023 to 2031.
Ability to Improve Self-Driving Car Performance Boosts Asia Pacific Multimodal AI Market
AI is emerging as a primary catalyst of a dramatic shift in the automotive sector due to its ability to transform every element of transportation, from smart vehicle design to personalized in-car interactions. Thus, it subsequently assures safer, more efficient, and environmentally friendly travel for both drivers and passengers. The incorporation of AI-powered multimodal assistants represents a significant leap in mobility solutions. These assistants are intended to facilitate a seamless shift between the modes of transportation owing to their ability to process a variety of inputs, such as voice instructions, pictures, and video feeds. Moreover, owing to this ability, they serve as diverse interfaces that connect people to their vehicles and the surrounding environment. In April 2024, Wayve, a company specializing in AI technology for assisted and automated driving, unveiled Lingo-2. This closed-loop driving model combines vision, language, and action to better explain and predict drivers’ behavior. The use of multimodal AI in autonomous vehicles improves their perception and decision-making capabilities. AI-enabled vehicles can navigate difficult circumstances more accurately and safely by processing data obtained from sensors, cameras, and environmental inputs. Significant investments are being made in the market for the development of better AI models for autonomous driving. In 2024, Applied Intuition, an autonomous vehicle software developer, concluded its newest fundraising round of US$ 250 million to deliver AI-enabled technology to vehicles in the automotive, construction, defense, and agricultural industries. Thus, self-driving car performance improvement applications are likely to emerge as a significant trend in the Asia Pacific multimodal AI market in the coming years.
Asia Pacific Multimodal AI Market Overview
The market in APAC is segmented into China, Japan, South Korea, India, Australia, and the Rest of APAC. In recent years, Asia Pacific has seen an upsurge in investments related to multimodal AI. Organizations in Asia Pacific are planning to increase their spending on artificial intelligence (AI) technology over the next few years in order to improve efficiency and accelerate decision-making. In March 2024, Japan's Ministry of Economy, Trade, and Industry announced that NVIDIA will play a key role in creating the country's generative AI infrastructure as Japan tries to capitalize on the technology's economic potential and further train its workforce. NVIDIA is working with digital infrastructure giants such as GMO Internet Group, Highreso, KDDI Corporation, RUTILEA, SAKURA Internet Inc., and SoftBank Corp., which the ministry has certified to lead the development of cloud infrastructure critical for AI applications. Thus, such initiatives in the region are driving the market.
Asia Pacific Multimodal AI Market Revenue and Forecast to 2031 (US$ Million)
Asia Pacific Multimodal AI Market Segmentation
The Asia Pacific multimodal AI market is categorized into component, organization size, data type, end use, and country.
Based on component, the Asia Pacific multimodal AI market is bifurcated into solution and service. The solution segment held a larger market share in 2023.
Based on organization size, the Asia Pacific multimodal AI market is bifurcated into SMEs and large enterprises. The large enterprises segment held a larger market share in 2023.
By data type, the Asia Pacific multimodal AI market is segmented into audio & video, image, and text. The audio & video segment held the largest market share in 2023.
By end use, the Asia Pacific multimodal AI market is segmented into automotive and transportation, BFSI, E-commerce and retail, healthcare, IT and telecom, media & entertainment, and others. The BFSI segment held the largest market share in 2023.
By country, the Asia Pacific multimodal AI market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific multimodal AI market share in 2023.
Alphabet Inc; Amazon Web Services Inc; International Business Machines Corp; NEC Corp; Microsoft Corp; Aimesoft; Jina AI GmbH; Reka AI, Inc; and Openstream Inc. are some of the leading companies operating in the Asia Pacific multimodal AI market.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Asia Pacific Multimodal AI Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in the Value Chain
5. Asia Pacific Multimodal AI Market – Key Market Dynamics
5.1 Asia Pacific Multimodal AI Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Rising Demand for Personalised User Experience
5.2.2 Surging Application in Healthcare Sector
5.3 Market Restraints
5.3.1 Ethical and Privacy Concerns
5.4 Market Opportunities
5.4.1 Application in Media and Entertainment
5.5 Future Trends
5.5.1 Ability to Improve Self-Driving Car Performance
5.6 Impact of Drivers and Restraints:
6. Multimodal AI Market –Asia Pacific Market Analysis
6.1 Asia Pacific Multimodal AI Market Revenue (US$ Million), 2021–2031
6.2 Asia Pacific Multimodal AI Market Forecast Analysis
7. Asia Pacific Multimodal AI Market Analysis – by Component
7.1 Solution
7.1.1 Overview
7.1.2 Solution: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Service
7.2.1 Overview
7.2.2 Service: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
8. Asia Pacific Multimodal AI Market Analysis – by Organization Size
8.1 SMEs
8.1.1 Overview
8.1.2 SMEs: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Large Enterprises
8.2.1 Overview
8.2.2 Large Enterprises: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
9. Asia Pacific Multimodal AI Market Analysis – by Data Type
9.1 Audio and Video
9.1.1 Overview
9.1.2 Audio and Video: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Image
9.2.1 Overview
9.2.2 Image: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
9.3 Text
9.3.1 Overview
9.3.2 Text: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
10. Asia Pacific Multimodal AI Market Analysis – by End-use
10.1 Automotive and Transportation
10.1.1 Overview
10.1.2 Automotive and Transportation: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
10.2 BFSI
10.2.1 Overview
10.2.2 BFSI: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
10.3 E-commerce and Retail
10.3.1 Overview
10.3.2 E-commerce and Retail: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
10.4 Healthcare
10.4.1 Overview
10.4.2 Healthcare: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
10.5 IT and Telecom
10.5.1 Overview
10.5.2 IT and Telecom: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
10.6 Media and Entertainment
10.6.1 Overview
10.6.2 Media and Entertainment: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
10.7 Others
10.7.1 Overview
10.7.2 Others: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
11. Asia Pacific Multimodal AI Market – Country Analysis
11.1 Asia Pacific
11.1.1 Asia Pacific Multimodal AI Market Overview
11.1.2 Asia Pacific: Multimodal AI Market – Revenue and Forecast Analysis – by Country
11.1.2.1 Asia Pacific: Multimodal AI Market – Revenue and Forecast Analysis – by Country
11.1.2.2 Australia: Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
11.1.2.2.1 Australia: Multimodal AI Market Breakdown, by Component
11.1.2.2.2 Australia: Multimodal AI Market Breakdown, by Organization Size
11.1.2.2.3 Australia: Multimodal AI Market Breakdown, by Data Type
11.1.2.2.4 Australia: Multimodal AI Market Breakdown, by End-use
11.1.2.3 China: Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
11.1.2.3.1 China: Multimodal AI Market Breakdown, by Component
11.1.2.3.2 China: Multimodal AI Market Breakdown, by Organization Size
11.1.2.3.3 China: Multimodal AI Market Breakdown, by Data Type
11.1.2.3.4 China: Multimodal AI Market Breakdown, by End-use
11.1.2.4 India: Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
11.1.2.4.1 India: Multimodal AI Market Breakdown, by Component
11.1.2.4.2 India: Multimodal AI Market Breakdown, by Organization Size
11.1.2.4.3 India: Multimodal AI Market Breakdown, by Data Type
11.1.2.4.4 India: Multimodal AI Market Breakdown, by End-use
11.1.2.5 Japan: Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
11.1.2.5.1 Japan: Multimodal AI Market Breakdown, by Component
11.1.2.5.2 Japan: Multimodal AI Market Breakdown, by Organization Size
11.1.2.5.3 Japan: Multimodal AI Market Breakdown, by Data Type
11.1.2.5.4 Japan: Multimodal AI Market Breakdown, by End-use
11.1.2.6 South Korea: Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
11.1.2.6.1 South Korea: Multimodal AI Market Breakdown, by Component
11.1.2.6.2 South Korea: Multimodal AI Market Breakdown, by Organization Size
11.1.2.6.3 South Korea: Multimodal AI Market Breakdown, by Data Type
11.1.2.6.4 South Korea: Multimodal AI Market Breakdown, by End-use
11.1.2.7 Rest of APAC: Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
11.1.2.7.1 Rest of APAC: Multimodal AI Market Breakdown, by Component
11.1.2.7.2 Rest of APAC: Multimodal AI Market Breakdown, by Organization Size
11.1.2.7.3 Rest of APAC: Multimodal AI Market Breakdown, by Data Type
11.1.2.7.4 Rest of APAC: Multimodal AI Market Breakdown, by End-use
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Product News & Company News
13.4 Collaboration and Mergers & Acquisitions
14. Company Profiles
14.1 Alphabet Inc
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Amazon Web Services Inc
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 International Business Machines Corp
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 NEC Corp
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Microsoft Corp
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Aimesoft
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Jina AI GmbH
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Reka AI, Inc
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Openstream Inc.
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
List of Tables
Table 1. Asia Pacific Multimodal AI Market Segmentation
Table 2. List of Vendors
Table 3. Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 5. Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million) – by Organization Size
Table 6. Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million) – by Data Type
Table 7. Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million) – by End-use
Table 8. Asia Pacific: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 9. Australia: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 10. Australia: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Organization Size
Table 11. Australia: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Data Type
Table 12. Australia: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by End-use
Table 13. China: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 14. China: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Organization Size
Table 15. China: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Data Type
Table 16. China: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by End-use
Table 17. India: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 18. India: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Organization Size
Table 19. India: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Data Type
Table 20. India: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by End-use
Table 21. Japan: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 22. Japan: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Organization Size
Table 23. Japan: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Data Type
Table 24. Japan: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by End-use
Table 25. South Korea: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 26. South Korea: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Organization Size
Table 27. South Korea: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Data Type
Table 28. South Korea: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by End-use
Table 29. Rest of APAC: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 30. Rest of APAC: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Organization Size
Table 31. Rest of APAC: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by Data Type
Table 32. Rest of APAC: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million) – by End-use
Table 33. List of Abbreviation
List of Figures
Figure 1. Asia Pacific Multimodal AI Market Segmentation, by Country
Figure 2. Ecosystem: Asia Pacific Multimodal AI Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Asia Pacific Multimodal AI Market Revenue (US$ Million), 2021–2031
Figure 5. Asia Pacific Multimodal AI Market Share (%) – by Component (2023 and 2031)
Figure 6. Solution: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
Figure 7. Service: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
Figure 8. Asia Pacific Multimodal AI Market Share (%) – by Organization Size (2023 and 2031)
Figure 9. SMEs: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. Large Enterprises: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. Asia Pacific Multimodal AI Market Share (%) – by Data Type (2023 and 2031)
Figure 12. Audio and Video: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
Figure 13. Image: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Text: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. Asia Pacific Multimodal AI Market Share (%) – by End-use (2023 and 2031)
Figure 16. Automotive and Transportation: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. BFSI: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. E-commerce and Retail: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
Figure 19. Healthcare: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. IT and Telecom: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
Figure 21. Media and Entertainment: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
Figure 22. Others: Asia Pacific Multimodal AI Market – Revenue and Forecast to 2031 (US$ Million)
Figure 23. Asia Pacific: Multimodal AI Market by Key Countries – Revenue (2023) US$ Million
Figure 24. Asia Pacific: Multimodal AI Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 25. Australia: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million)
Figure 26. China: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million)
Figure 27. India: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million)
Figure 28. Japan: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million)
Figure 29. South Korea: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million)
Figure 30. Rest of APAC: Multimodal AI Market – Revenue and Forecast to 2031(US$ Million)
Figure 31. Heat Map Analysis by Key Players
Figure 32. Company Positioning & Concentration
- Alphabet Inc
- Amazon Web Services Inc
- International Business Machines Corp
- NEC Corp
- Microsoft Corp
- Aimesoft
- Jina AI GmbH
- Reka AI, Inc
- Openstream Inc.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific multimodal AI market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific multimodal AI market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific multimodal AI market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.