South & Central America Multimodal AI Market Forecast to 2031 - Regional Analysis - by Component, Organization Size, Data Type, and End use

Description

List of Tables

The South & Central America multimodal AI market was valued at US$ 43.60 million in 2023 and is expected to reach US$ 413.57 million by 2031; it is estimated to register a CAGR of 32.5% from 2023 to 2031.

Application in Media and Entertainment Fuels South & Central America Multimodal AI Market

The media and entertainment industries are striving to meet the evolved consumer demands for personalized content as well as an unlimited selection of OTT and streaming services. Multimodal AI can create and understand content in multiple formats or modes, including text, graphics, audio, and video. It employs various AI techniques, including Natural Language Processing (NLP), Computer Vision, Speech Recognition, Machine Learning, and Large Language Models (LLMs), to process data in multiple forms and discover new features that emerge from the combination of data obtained from numerous sources. Multimodal AI simplifies different aspects, boosts prediction accuracy, improves resource utilization efficiencies, and delivers enhanced user experience. Media and entertainment organizations can profit greatly from multimodal AI technologies to streamline business processes. In 2024, Google revealed Veo, an AI-powered video generator capable of creating videos longer than a minute. According to its claim, Veo can produce 1080p definition videos in a variety of cinematic and visual styles. The company also introduced Imagen 3, an update to its text-to-image generating model. Multimodal AI can record tones and render details in extended prompts, as well as interpret natural language and visual semantics. Thus, the expanding application of multimodal AI in the media and entertainment sector is creating ample opportunities for the market.

South & Central America Multimodal AI Market Overview

Increasing investments in AI technology drive the growth of the South American multimodal AI market. According to NTT's DATA report of 2023, South America registered a 37% AI implementation rate, with nearly 60% of the companies having adopted AI technology as of 2022. More than 20% of companies have initiated investment in AI technology in 2023, and numerous companies in South America are planning to increase their AI investment by 15%. AI technology supports industries to handle and manage large amounts of customer data appropriately. Thus, the surging adoption of multimodal AI among different industries fuels the multimodal AI market in South & Central America.

South & Central America Multimodal AI Market Revenue and Forecast to 2031 (US$ Million)

South & Central America Multimodal AI Market Segmentation

The South & Central America multimodal AI market is categorized into component, organization size, data type, end use, and country.

Based on component, the South & Central America multimodal AI market is bifurcated into solution and service. The solution segment held a larger market share in 2023.

Based on organization size, the South & Central America 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 South & Central America 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 South & Central America 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 South & Central America multimodal AI market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America multimodal AI market share in 2023.

Alphabet Inc, Amazon Web Services Inc, International Business Machines Corp, NEC Corp, and Microsoft Corp are some of the leading companies operating in the South & Central America multimodal AI market.

Product Code: BMIRE00031159

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. South & Central America Multimodal AI Market Landscape

4.1 Overview
4.2 Ecosystem Analysis
- 4.2.1 List of Vendors in the Value Chain

5. South & Central America Multimodal AI Market - Key Market Dynamics

5.1 South & Central America 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 -South & Central America Market Analysis

6.1 South & Central America Multimodal AI Market Revenue (US$ Million), 2021-2031
6.2 South & Central America Multimodal AI Market Forecast Analysis

7. South & Central America Multimodal AI Market Analysis - by Component

7.1 Solution
- 7.1.1 Overview
- 7.1.2 Solution: South & Central America Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Service
- 7.2.1 Overview
- 7.2.2 Service: South & Central America Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)

8. South & Central America Multimodal AI Market Analysis - by Organization Size

8.1 SMEs
- 8.1.1 Overview
- 8.1.2 SMEs: South & Central America Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Large Enterprises
- 8.2.1 Overview
- 8.2.2 Large Enterprises: South & Central America Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)

9. South & Central America Multimodal AI Market Analysis - by Data Type

9.1 Audio and Video
- 9.1.1 Overview
- 9.1.2 Audio and Video: South & Central America Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Image
- 9.2.1 Overview
- 9.2.2 Image: South & Central America Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
9.3 Text
- 9.3.1 Overview
- 9.3.2 Text: South & Central America Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)

10. South & Central America Multimodal AI Market Analysis - by End-use

10.1 Automotive and Transportation
- 10.1.1 Overview
- 10.1.2 Automotive and Transportation: South & Central America Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
10.2 BFSI
- 10.2.1 Overview
- 10.2.2 BFSI: South & Central America 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: South & Central America Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
10.4 Healthcare
- 10.4.1 Overview
- 10.4.2 Healthcare: South & Central America 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: South & Central America 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: South & Central America Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
10.7 Others
- 10.7.1 Overview
- 10.7.2 Others: South & Central America Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)

11. South & Central America Multimodal AI Market - Country Analysis

11.1 South & Central America
- 11.1.1 South & Central America: Multimodal AI Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.1 South & Central America: Multimodal AI Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.2 Brazil: Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.2.1 Brazil: Multimodal AI Market Breakdown, by Component
    - 11.1.1.2.2 Brazil: Multimodal AI Market Breakdown, by Organization Size
    - 11.1.1.2.3 Brazil: Multimodal AI Market Breakdown, by Data Type
    - 11.1.1.2.4 Brazil: Multimodal AI Market Breakdown, by End-use
  - 11.1.1.3 Argentina: Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.3.1 Argentina: Multimodal AI Market Breakdown, by Component
    - 11.1.1.3.2 Argentina: Multimodal AI Market Breakdown, by Organization Size
    - 11.1.1.3.3 Argentina: Multimodal AI Market Breakdown, by Data Type
    - 11.1.1.3.4 Argentina: Multimodal AI Market Breakdown, by End-use
  - 11.1.1.4 Rest of South & Central America: Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.4.1 Rest of South & Central America: Multimodal AI Market Breakdown, by Component
    - 11.1.1.4.2 Rest of South & Central America: Multimodal AI Market Breakdown, by Organization Size
    - 11.1.1.4.3 Rest of South & Central America: Multimodal AI Market Breakdown, by Data Type
    - 11.1.1.4.4 Rest of South & Central America: 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

15. Appendix

15.1 About The Insight Partners
15.2 Word Index