The Knowledge Graph can be defined as the knowledge base that is used to improve the search engine's output with information gathered from a variety of sources. The knowledge graph represents a collection of interlinked descriptions of entities – events, abstract concepts, situations, and real-world objects. In knowledge graphing, each entity represents part of the description of the entities, which helps to fetch relative information once the keyword is written while searching.
Factors Driving Growth of the Global Semantic Knowledge Graphing Market
With increase in the available volume of data on search engines, the need for semantic knowledge graphing is increasing significantly. According to CMI analysis, in 2019, over 1.5 billion websites are available on the web today. To fetch the relevant and precise information through these large number of data sources is very difficult. This, in turn, is increasing the use of semantic knowledge graphing, as it can link similar content and document in a highly precise manner. Moreover, it enables entity-centric views on products, data, information, location, suppliers, and research topics. Moreover, companies are coming up with their advance knowledge graph platforms, which is expected to boost the market growth in future. For instance, In December 2019, Ontotext a Bulgarian released Ontotext Platform 3.0, which features GraphQL interfaces. Due to of this platform, application developers don’t need to do any complex development of back-end APIs or complex SPARQL for accessing the knowledge graph.
Factors Restraining Growth of the Global Semantic Knowledge Graphing Market
The semantic knowledge graphing is used to improve search engines output, however generating the large knowledge base from voluminous data is challenging. Moreover, the development of semantic knowledge graphing platform is critical process as it requires complex back end APIs, which in turn, is expected to restrain the market growth in the near future.
Regional Analysis of Semantic knowledge graphing Market
On the basis of region, the global semantic knowledge graphing market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
In 2018, the North America region accounted for the largest share in the global semantic knowledge graphing market and is expected to retain its dominant position in the market over the forecast period. The region has largest population of internet users where semantic knowledge graphing is used extensively. Moreover, key companies and government agencies are using the semantic knowledge graphing platforms to improve their research and development work. For instance, NASA has implemented Stardog Union’s Enterprise Knowledge Platform, which helps NASA engineers to assemble the inferences from interconnected data.
Asia Pacific is expected to witness significant growth during the forecast period. Increasing number of internet users and introduction of 5G technology in emerging economies such as India and China is expected to drive the market growth in Asia Pacific over the forecast period.
Key Players in the Global Semantic Knowledge Graphing Market
Key players operating in the global semantic knowledge graphing market include Google Inc., metaphacts GmbH, Stardog Union, Grakn Labs, Microsoft Corporation, LinkedIn, Semantic Web Company, Baidu, Yandex, Wolfram Alpha, and Ontotext.
Global Semantic Knowledge Graphing Market: Taxonomy
The global semantic knowledge graphing market is segmented on the basis of application, service type, enterprise size, end use industry, and region.
- On the basis of application, the market is segmented into:
- Semantic Search
- Question and Answer Machine
- Information Retrieval
- Electronic Reading
- Online Learning
- On the basis of service type, the market is segmented into:
- Data Management
- Knowledge Portals
- Content Management
- On the basis of enterprise size, the market is segmented into:
- Large Enterprise
- Small and Medium Enterprises (SMEs)
- On the basis of end use industry, the market is segmented into:
- On the basis of region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East