Semantic Web Market Expected to Reach $123.5 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Semantic Web Market," The semantic web market was valued at $3.7 billion in 2022, and is estimated to reach $123.5 billion by 2032, growing at a CAGR of 42.4% from 2023 to 2032.

Semantic web services provide data integration, understanding and utilization capabilities to several industries, it allows organizations to protect their assets from various cyber-attacks and improve customer experience. In addition, organizations are increasingly employing semantic web solution and web 3.0 to enhance the services. Moreover, in the healthcare industry, semantic web services are crucial for integrating and protecting sensitive healthcare data transmitted from different sources. The healthcare sector deals with the vast amount of data including electronic health records, medical research papers, and clinical trials, which in turn provides lucrative opportunities for the growth of semantic web market forecast in this sector. Meanwhile, there is an increasing demand for semantic web in the e-commerce sector, to enhance the platform by offering more intelligent product recommendations and personalized experience. These multiple applications offered by semantic web services in several industries are expected to propel the semantic web industry demand.

On the basis of deployment type, the public segment dominated the semantic web market in 2022 and is expected to continue this trend during the forecast period. The public cloud solutions provide enterprises with greater control over their application environment. These factors further drive the demand for the public cloud segment in the global market. However, the hybrid segment is expected to exhibit the highest growth during the forecast period. Hybrid cloud solutions may be readily scaled up or down based on demand, making them appropriate for managing variable workloads, which further is expected to provide lucrative growth opportunities for the semantic web market during the forecast period.

By region, North America dominated the semantic web market size in 2022, owing to many of the top technology businesses and research organizations worldwide have their headquarters in North America, especially in the U.S., which is expected to drive semantic web market revenue growth in the region. However, Asia-Pacific is expected to exhibit the highest market growth during the forecast period. This region has the highest number in global population. For businesses looking to create and implement semantic web solutions, which is fostering the development of innovative technologies like the semantic web.

The outbreak of COVID-19 is projected to provide a range of new avenues for the market to grow over the forthcoming period. These novel opportunities include a surge in integration for IoT, artificial intelligence (AI), and other advanced technologies coupled with growing adoption of cloud solutions in semantic web operations. Further, software companies rapidly provide improved efficiency and reduce maintenance expenses during the outburst of the COVID-19 crisis. Besides, the robust demand for emerging technologies such as web 3.0, which are suitable for consumer needs, has grown substantially. Additionally, several companies are also incorporating advanced and innovative solutions, as well as providing advanced web operations to seamless transfer of condition-based and predictive maintenance requirements. For instance, in June 2020, Semantic Web Company partnered with Ontotext, through this alliance companies will be able to meet the highest requirements of enterprise architects such as deployment, monitoring, resilience, and interoperability with other enterprise IT systems and security. Such strategic initiatives create numerous opportunities for the semantic web market growth in the forecasting years.

Key Findings of the Study

• By component, the solution segment accounted for the largest semantic web market share in 2022.
• By deployment type, the public segment accounted for the largest semantic web market share in 2022.
• By enterprise size, the large enterprises segment accounted for the largest semantic web market share in 2022.
• By industry vertical, the IT and telecom segment accounted for the largest semantic web market share in 2022.   
• Region wise, North America generated the highest revenue in 2022.

The market players operating in the semantic web market analysis are Altova, Cambridge Semantics, Cycorp Inc, Franz Inc., Microsoft Corporation, NetBase Solutions Inc., Ontotext, OpenLink Software Inc., Semantic Web Company and TopQuadrant. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the semantic web industry globally.