Middle East & Africa Multimodal AI Market Forecast to 2031 - Regional Analysis - by Component, Organization Size, Data Type, and End use

Description

List of Tables

The Middle East & Africa multimodal AI market was valued at US$ 52.98 million in 2023 and is expected to reach US$ 558.11 million by 2031; it is estimated to register a CAGR of 34.2% from 2023 to 2031.

Rising Demand for Personalized User Experience Bolsters Middle East & Africa Multimodal AI Market

Customers prefer individualized experiences when communicating with businesses, prompting organizations to pursue flawless customer experiences (CX) that distinguish them from the competition. As a result, they are opting for a multimodal user interface (MUI) to ensure spontaneous and intuitive user interactions. In response to evolving consumer preferences, UI/UX designers create practical, personalized, and human-centered user interfaces by combining various user inputs, including voice commands, gesture detection, touch interactions, and typing, to enable natural interactions. Moreover, the application of artificial intelligence (AI) improves user experience (UX) by identifying demands and engagement patterns.

The use of multimodal AI allows businesses to harness multiple data sources, giving customers more personalized and targeted content. This, in turn, allows marketing teams to create highly tailored campaigns that include customer-specific advice and adverts. Moreover, multimodal AI can help produce more interactive and engaging content, aiding in interactive marketing, immersive product experiences, and multimedia-rich educational resources. Detailed analysis and decision-making processes powered by multimodal AI systems contribute to a more holistic grasp of the market landscape. Additionally, the technology is critical to breaking down language boundaries amid rapid-paced globalization. Businesses that process and understand information in several languages can efficiently interact with diverse audiences with different linguistic preferences. Thus, the rising demand for personalized experience propels the Middle East & Africa multimodal AI market.

Middle East & Africa Multimodal AI Market Overview

The Middle East & Africa (MEA) has seen rapid technological transformation and innovation over the past decade. Countries across the MEA are leveraging AI technologies to boost their economic growth, improve public services, and address societal challenges. However, the adoption of AI is limited in these countries. Saudi Arabia, the UAE, and Qatar, in particular, have strongly committed to the implementation and development of AI technologies. Businesses in these countries have been investing strongly in new technologies in response to the demand generated by governments. Various companies are taking initiatives to develop AI technologies in the region. In October 2023, DaveAI announced its new sales office in Dubai and a strategic expansion in Saudi Arabia, which marks a significant milestone in the company's journey to revolutionize the AI industry in the MEA. In September 2023, Mark AB Capital joined forces with the UAE government to launch the UAE as the world's first AI nation. Thus, with the increasing adoption of AI technologies, the multimodal AI market is growing significantly in the MEA.

Middle East & Africa Multimodal AI Market Revenue and Forecast to 2031 (US$ Million)

Middle East & Africa Multimodal AI Market Segmentation

The Middle East & Africa multimodal AI market is categorized into component, organization size, data type, end use, and country.

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

Based on organization size, the Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa multimodal AI market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa 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 Middle East & Africa multimodal AI market.

Product Code: BMIRE00031158

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. Middle East & Africa Multimodal AI Market Landscape

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

5. Middle East & Africa Multimodal AI Market - Key Market Dynamics

5.1 Middle East & Africa 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 -Middle East & Africa Market Analysis

6.1 Middle East & Africa Multimodal AI Market Revenue (US$ Million), 2021-2031
6.2 Middle East & Africa Multimodal AI Market Forecast Analysis

7. Middle East & Africa Multimodal AI Market Analysis - by Component

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

8. Middle East & Africa Multimodal AI Market Analysis - by Organization Size

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

9. Middle East & Africa Multimodal AI Market Analysis - by Data Type

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

10. Middle East & Africa Multimodal AI Market Analysis - by End-use

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

11. Middle East & Africa Multimodal AI Market - Country Analysis

11.1 Middle East & Africa
- 11.1.1 Middle East & Africa: Multimodal AI Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.1 Middle East & Africa: Multimodal AI Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.2 South Africa: Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.2.1 South Africa: Multimodal AI Market Breakdown, by Component
    - 11.1.1.2.2 South Africa: Multimodal AI Market Breakdown, by Organization Size
    - 11.1.1.2.3 South Africa: Multimodal AI Market Breakdown, by Data Type
    - 11.1.1.2.4 South Africa: Multimodal AI Market Breakdown, by End-use
  - 11.1.1.3 Saudi Arabia: Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.3.1 Saudi Arabia: Multimodal AI Market Breakdown, by Component
    - 11.1.1.3.2 Saudi Arabia: Multimodal AI Market Breakdown, by Organization Size
    - 11.1.1.3.3 Saudi Arabia: Multimodal AI Market Breakdown, by Data Type
    - 11.1.1.3.4 Saudi Arabia: Multimodal AI Market Breakdown, by End-use
  - 11.1.1.4 United Arab Emirates: Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.4.1 United Arab Emirates: Multimodal AI Market Breakdown, by Component
    - 11.1.1.4.2 United Arab Emirates: Multimodal AI Market Breakdown, by Organization Size
    - 11.1.1.4.3 United Arab Emirates: Multimodal AI Market Breakdown, by Data Type
    - 11.1.1.4.4 United Arab Emirates: Multimodal AI Market Breakdown, by End-use
  - 11.1.1.5 Rest of Middle East & Africa: Multimodal AI Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.5.1 Rest of Middle East & Africa: Multimodal AI Market Breakdown, by Component
    - 11.1.1.5.2 Rest of Middle East & Africa: Multimodal AI Market Breakdown, by Organization Size
    - 11.1.1.5.3 Rest of Middle East & Africa: Multimodal AI Market Breakdown, by Data Type
    - 11.1.1.5.4 Rest of Middle East & Africa: 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