Market Size
The Global Knowledge Graph Market reached US$ 0.7 billion in 2022 and is expected to reach US$ 3.6 billion by 2030, growing with a CAGR of 22.1% during the forecast period 2024-2031.
E-commerce, content delivery and social media platforms use knowledge graphs to power recommendation systems that enhance user experiences and drive user engagement. Many organizations need effective solutions to integrate and make sense of the vast amounts of structured and unstructured data they generate. Knowledge graphs are employed to enrich content by linking related information and providing context.
Knowledge graphs improve the efficiency and accuracy of search engines and discovery platforms, enabling users to find relevant information more easily. As data privacy regulations become more stringent organizations seek data governance solutions. Knowledge graphs assist in data governance by providing data lineage and visibility into data usage.
North America accounted largest market share in the knowledge graph market due to the increase in product launches by major key players. For instance, on June 07, 2023, Neo4j, the world’s leading graph database and analytics company announced new product integration with Generative AI Features in Google Cloud Vertex AI. Vertex AI’s generative AI capabilities are used to provide a natural language interface to the knowledge graph.
Market Scope
| Metrics | Details |
| CAGR | 22.1% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$ ) |
| Segments Covered | Type, Task, Data Source organization Size, Application, End-User and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Growing Use of the Internet of Things (IoT) Globally
Internet of Things(IoT) devices produce a wide variety of data. Knowledge Graphs enable the integration of data from diverse IoT sources, providing a holistic view of the IoT ecosystem. IoT data come in different formats and standards. Knowledge graphs help establish semantic interoperability, ensuring that data from various IoT devices can be understood and analyzed coherently. Knowledge graphs process and analyze this data in real time, allowing for immediate decision-making and response to IoT events and anomalies.
IoT data becomes more valuable when placed in context. Knowledge Graphs provide the context by linking IoT data to relevant entities and relationships, enabling deeper insights. Knowledge graphs, when combined with IoT data, support predictive analytics. The is particularly valuable for applications like predictive maintenance, where IoT sensors help anticipate equipment failures. IoT devices in logistics and supply chain management benefit from knowledge graphs. The graphs provide real-time visibility and optimization opportunities throughout the supply chain.
IoT is a key component of smart cities and infrastructure. Knowledge graphs help manage and optimize various aspects of smart cities, from traffic and utilities to public safety. IoT in healthcare relies on patient monitoring devices and wearable technology. Knowledge graphs enable healthcare providers to aggregate and analyze patient data for improved care and medical research.
Growing Adoption of Machine Learning and Artificial Intelligence Globally
Machine learning and artificial intelligence are used to enrich the content of a knowledge graph. It extract valuable insights from unstructured data sources such as text, images and videos and populate the knowledge graph with this information. Machine learning and artificial intelligence help in understanding the semantics of data, enabling the identification of relationships between entities and concepts. The improves the context and relevance of the connections within the knowledge graph.
Knowledge graphs, when powered by machine learning algorithms support recommendation systems in e-commerce, content delivery and personalized user experiences. AI-driven recommendations enhance user engagement and satisfaction. Artificial intelligence and natural language processing technologies enable conversational interactions with knowledge graphs. Chatbots and virtual assistants access and query the knowledge graph, providing users with human-like interactions and instant responses.
Low Data Quality and Integration of Knowledge Graph
Low data quality of knowledge graph results in inaccurate and outdated information. The undermines the trustworthiness of the knowledge base and leads to erroneous conclusions. Knowledge graphs are most valuable when they provide a holistic view of data and enable meaningful connections. Poor data integration makes it challenging to create these connections, limiting the usability and utility of the knowledge graph.
Inconsistent data structures and formats hinder semantic consistency within the knowledge graph. Due to this, there are difficulties in linking and making sense of the data. Inadequate data integration resulted in data silos, where information is isolated and not accessible for analysis. Knowledge graphs are designed to break down these silos, but low data integration makes it difficult to achieve this goal.
Market Segment Analysis
The global knowledge graph market is segmented based on type, task, data source organization size, application, end-user and region.
Growing Industrial Adoption of the Structured Knowledge Graph
Based on the data source, the knowledge graph market is divided into structured, unstructured and semi-structured. The structured segment accounted for 1/3rd of the market share in the global knowledge graph market. Structured data sources provide well-organized and standardized data and make it easier to integrate information from multiple sources. The integration is crucial for building comprehensive and interconnected knowledge graphs.
Structured data sources offer higher data quality compared to unstructured or semi-structured data. The is essential for ensuring that the information in the knowledge graph is accurate and trustworthy. Structured data sources are semantically consistent, with clear definitions and standardized formats. The consistency facilitates the creation of meaningful relationships and connections within the knowledge graph. In many domains and industries, structured data sources adhere to industry-specific standards and regulations, ensuring compliance and data consistency in the knowledge graph.
Growing product launches by major key players help to boost market growth over the forecast period. For instance, on February 01, 2022, Clausematch, a technology company launched a structured knowledge graph in the market to drive the digitization of regulation with the use of AI. The company has been involved in various projects in this domain. Regulators and financial services companies have access to test the graph and see how regulation in a structured digital format works.
Market Geographical Share
High Penetration of Digital Advertising in North America
North America accounted largest market share in the global knowledge graph market due to rapid growth in artificial intelligence and machine learning platforms. The U.S. and Canada accounted for the largest market share due to the availability of large enterprises. Knowledge graphs help organizations integrate data from different sources and make it easier to analyze and derive insights from structured and unstructured data.
Knowledge graphs have a growing role in healthcare and life sciences for patient data integration, drug discovery and clinical decision support systems. According to the data given by cross river therapy in 2022, U.S. healthcare industry is the world’s third-largest economy. The U.S. has the greatest healthcare spending US$10,224 per capita. Also growing adoption of the knowledge graphs in the financial sector for risk assessment, fraud detection and portfolio management in North America helps to boost regional market growth of the knowledge graph market.
Market Key Players
The major global players in the market include AWS, Cambridge Semantics, Franz Inc., Google, IBM Corporation, Microsoft, Stardog, Neo4j, Ontotext and Oracle.
COVID-19 Impact Analysis
The need for organizations to adapt to remote work and changing business environments has increased the focus on data integration. Knowledge graphs, with their ability to integrate diverse data sources, become more critical for organizations aiming to streamline their data workflows. The pandemic accelerated digital transformation initiatives across industries. Businesses and institutions that invested in digital technologies, including knowledge graphs, have found them valuable for organizing and leveraging data in the new normal.
The dynamic nature of the pandemic emphasized the importance of real-time analytics. Knowledge graphs when combined with technologies like graph databases and semantic technologies provide the foundation for real-time insights by connecting and analyzing data in near real-time. Some sectors, such as healthcare have seen increased interest in knowledge graphs for modeling and analyzing complex relationships in medical data. Other sectors, particularly those facing economic challenges, have slowed down certain technology investments.
Russia-Ukraine War Impact Analysis
Geopolitical events contribute to global economic uncertainty. Uncertain economic conditions influence organizations' budget allocations, potentially affecting investment decisions in technology, including knowledge graph initiatives. The impact on the knowledge graph market varies by region. Instability in certain regions leads to shifts in priorities, investments or project timelines.
Supply chain disruptions caused by geopolitical events affect the availability and cost of technology components. Organizations implementing knowledge graphs might need to assess and adapt to changes in the supply chain for relevant technologies. Government priorities and funding for technology initiatives shift during periods of geopolitical tension. The impact knowledge graph projects that receive government support or are aligned with specific national or regional strategies.
Key Developments
- On March 21, 2023, Kobai, the codeless knowledge graph platform launched Kobai Saturn, a knowledge graph. The newly launched graph is the industry’s first knowledge graph to harness the scale, performance and cost efficiency of the bakehouse architecture.
- On November 05, 2023, Foursquare, an independent geospatial technology platform launched its geospatial knowledge graph in the market. The newly launched graph helps to lower the barrier to entry for location intelligence and limits the time it takes to uncover crucial insights within geospatial data queries.
- On May 02, 2022, the Copyright Clearance Center (CCC) announced robust knowledge graph capabilities through the CCC expert view. It provides details about at Bio-IT World Session. Copyright clearance center expert view, a knowledge graph has capabilities to help life science companies identify qualified experts.
Why Purchase the Report?
- To visualize the global knowledge graph market segmentation based on type, task, data source organization size, application, end-user and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of knowledge graph market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global knowledge graph market report would provide approximately 85 tables, 92 figures and 232 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
