Press release
Knowledge Graph Market Size Forecasted To Achieve 3.68 Billion By 2029 With Steady Growth
Knowledge Graph
What Is the Knowledge Graph Market Size and Projected Growth Rate?
In recent years, there has been a significant increase in the market size of the knowledge graph. The projected increase from $1.31 billion in 2024 to $1.62 billion in 2025, with a compound annual growth rate (CAGR) of 23.2%, supports this. This expansion in the historic timeframe is due to the rise in data complexity, the emergence of big data, increased adoption in enterprises, the development of semantic search, and a heightened need for data integration.
The size of the knowledge graph market is anticipated to experience significant expansion in the upcoming years, reaching $3.69 billion in 2029 with a compound annual growth rate (CAGR) of 22.9%. This projected growth in the forecast period can be credited to the quick adoption of artificial intelligence, the expansion of IoT, the need for instant insights, the growth of digital transformation, and the increasing demand for data governance. Key trends for the forecast period encompass integration with LLMs, the automation of knowledge extraction, AI advancements, real-time knowledge updates, and a growing need for explainable AI.
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What Are the Major Segments in the Knowledge Graph Market?
The knowledge graph market covered in this report is segmented -
1) By Type: General Knowledge Graph, Industry Knowledge Graph
2) By Deployment Type: On-Premises, Cloud-Based, Hybrid
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises
4) By Application: Data Analytics And Business Intelligence, Data Governance And Master Data Management, Infrastructure And Asset Management, Process Optimization And Resource Management, Product And Configuration Management, Risk Management, Compliance, And Regulatory, Virtual Assistants, Self-Service Data, And Digital
5) By End-User: Healthcare, E-Commerce And Retail, Banking, Financial Services, And Insurance (BFSI), Government, Media And Entertainment, Other End-Users
Subsegments:
1) By General Knowledge Graph: Semantic Search, Recommendation Systems, Virtual Assistants, Question Answering Systems
2) By Industry Knowledge Graph: Healthcare Knowledge Graphs, Financial Knowledge Graphs, Retail Knowledge Graphs, Telecom Knowledge Graphs, Manufacturing Knowledge Graphs, Media And Entertainment Knowledge Graphs, Legal And Compliance Knowledge Graphs
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What Are The Driving Knowledge Graph Market Evolution?
The surge in data volume and its increasing complexity is anticipated to stimulate the expansion of the knowledge graph market. The term data volume refers to the quantity of data generated, while complexity of data signifies the challenges encountered in its organization and comprehension due to diverse types and interconnections. The escalation in data volume stems from the extensive use of the internet and digital gadgets, which consistently yield massive data. Knowledge graphs efficiently manage extensive and intricate data volumes by coordinating informational details into linked entities and connections, facilitating effective data extraction, integration, and examination. As an example, in December 2022, a report from The Linux Foundation, a non-profit consortium based in the US, revealed that the data growth for an average user organization soared to 2,208 TB, a 215.43% surge, nearly tripling the 700 TB noted in 2021. Hence, the swift expansion in data volume and its increasing complexity are the key factors boosting the knowledge graph market.
Which Firms Dominate The Knowledge Graph Market Segments?
Major companies operating in the knowledge graph market are Amazon Web Services, Google LLC, International Business Machines Corporation (IBM Corporation), Oracle Corporation, SAP SE, Altair Engineering Inc., Neo4j Inc., DataStax Inc., MarkLogic Corporation, Cambridge Semantics Inc., ArangoDB GmbH, TigerGraph Inc., Ontotext AD, Stardog Union Inc., Fluree PBC, Semantic Web Company GmbH, Datavid Limited, OpenLink Software Inc., Bitnine Co. Ltd., Franz Inc., Diffbot Technologies Corporation, Redis Inc.
What Trends Are Expected to Dominate the Knowledge Graph Market in the Next 5 Years?
Prominent corporations in the knowledge graph market are prioritizing the incorporation of artificial intelligence, such as merging knowledge graphs with data lakehouse technology, to boost data processing, adaptability, and insights by assimilating diverse data kinds. The concept of data lakehouse technology combines the storing capabilities of a data lake and the structuring of a data warehouse, providing businesses a single platform for data storage, management, and analysis. For instance, Kobai Inc., a software enterprise based in the US, introduced kobai saturn, its inaugural knowledge graph engineered to leverage data lakehouse infrastructure for improved scale and efficiency, in March 2023. This service amalgamates all data user cases into one semantic layer, thereby simplifying data access and enhancing decision-making processes. The integration enables corporations to fuse structured knowledge graphs with the versatility of data lakehouses, thereby improving data processing and insights.
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Which Is The Largest Region In The Knowledge Graph Market?
North America was the largest region in the knowledge graph market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the knowledge graph market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Knowledge Graph Market?
2. What is the CAGR expected in the Knowledge Graph Market?
3. What Are the Key Innovations Transforming the Knowledge Graph Industry?
4. Which Region Is Leading the Knowledge Graph Market?
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