The Latest research study released by Absolute Markets Insights Semantic Knowledge Graphing Market with 100+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint and status. Understanding the segments helps in identifying the importance of different factors that aid the market growth.In terms of revenue, global semantic knowledge graphing market was valued at US$ 1054.6 Mn in 2022 and is anticipated to grow at a CAGR of 14.0% over the forecast period to reach US$ 3,000.0 Mn in 2030. Some of the Major Companies covered in this Research are: Google LLC, Microsoft Corporation, Amazon.com, Inc., Facebook, Inc., NELL, YAGO and Mitsubishi Electric Corporation amongst others.
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Global Semantic Knowledge Graphing Market:
By Type of Data Sources
By Type of Knowledge Graphs
- Context-Rich Knowledge Graphs
- External-Sensing Knowledge Graphs
- Natural Language Processing (NLP) Knowledge Graphs
By Type of Tasks
- Link Prediction
- Entity Resolution
- Link-based Clustering
By End-use Industry
- Banking Financial Service and Insurance (BFSI)
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East Africa
- Latin America
- Rest of Latin America
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Rise in generation of data both by humans and machines are creating demand for advanced technological solutions which can represent these datasets in semantic way and assist in drawing insights from this complex multisource data. Proliferation of tech-savvy digital natives are transforming the conventional ecosystems. In December 2019, The International Telecommunication Union (ITU) stated in its report released that around 4.1 billion people worldwide have access to internet which is around 3.6% of the total global population. Also, users of smart and connected devices including smartphones, tablets and others are increasing the traffic in internet. These factors have contributed to inclination of people towards digital platforms for performing any activity in day-to-day life, which is creating high amounts of data at enterprise’s end. Growing consumer datasets pose requirement for tools which will assist enterprises to efficiently manage this data and draw insightful analysis upon for better customer engagement.
Growing traffic of internet users also mandated the adoption of digital tools by enterprises to enhance the search, recommendation and content management of databases. Semantic knowledge graphing is a viable solution for these requirements as it enables enterprises to establish multilateral relations between entities throughout the datasets and provides a semantic search interface. In 2012, U.S. based technology company Google Inc. introduced the first knowledge graph which assist searchers or users of Google search engine to get instant information that is relevant to their query. Apart from the free databases, Google’s Knowledge graph contains more than 500 million objects and more than 3.5 billion facts about these objects.
The huge size of the content available at Google makes use of search optimization tools including knowledge graphs, mandatorily which finds the right information, provides snippets and displays unexpected deeper insights. Owing to these benefits, multipler players have entered the semantic knowledge graphing market with their novel offerings. For instance, GNOSS platform of RIAM INTELEARNING LAB S.L. is a knowledge graph builder platform which provides better interpretation of content and resources of an organization. The GNOSS platform is used to build knowledge graphs and perform discovery, reasoning, analysis and content management using these graphs. These manifold benefits of knowledge graphs for optimizing search results and data representation for analysis has contributed towards the growth in semantic knowledge graphing market across the globe.
Semantic knowledge graphing can be used for a wide array of applications including business development. Data Science professionals spend a lot of time in analysing huge chunks of data from multiple sources to find out a pattern so as to develop innovative product or services to attracts customers for their organization. This analysis gives them a brief idea on what problems their customers are facing and how to overcome their challenges for better customer engagement. Knowledge graphs are an efficient and powerful tool to manage and analyse customer’s data which will identify the marketing or distribution channels that attracts more number of customers. For instance, the knowledge graph developed by data exploration tool of Refinitiv company, based out of U.S, enables the business development and customer relationship management teams to generate a graph network of sales leads and connections through integration of internal and third party data.
Knowledge graph can be further used for applications including development of chatbots, keyword advertisement and others. Traditionally in a search advertisement, the businesses used to purchase a list of keywords related to their offerings so that when these keywords are entered in a search engine, the system used to display advertisement of the related products. Using Microsoft’s Concept Graph can enable the sales team to find out more related keywords to the product which are being frequently used by the customers and which can be purchased by the company for increasing their potential leads. These wide array of applications in business development and sales activities of a business are creating a heightened demand in global semantic knowledge graphing market.
Rise in outbreak of global pandemic COVID-19 has positively impacted the semantic knowledge graphing market. Multiple private and government institutes are using semantic knowledge graphing to develop deeper insights and understanding on the infection and a potential cure for it. For instance, The CovidGraph Project is a non-profit organization formed by collaboration of researchers, software developers, healthcare professionals and data scientists which has built a platform incorporating more than 40,000 publications case statistics, genes and functions, molecular data and other relevant information on COVID-19. Knowledge graph developed by this organization aims to assist researchers to navigate through COVID-19 datasets using technologies including advanced visualization techniques and intuitive user interfaces. Similarly, in April 2020 Mayo Clinic has partnered with Ontotext to develop and publish knowledge graphs related to COVID-19 scientific information. Mayo Clinic is using Ontotext’s GraphDB RDF (Resource Description Framework) database to publish knowledge graph called CORD-19. These efforts and similar others are boosting the demand in semantic knowledge graphing market across the globe.
Semantic Knowledge Graphing Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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