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Knowledge Graph Market Size

Report ID: GMI7266
Published Date: Nov 2023
Report Format: PDF

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Knowledge Graph Market Size

Knowledge Graph Market size was valued at USD 1 billion in 2022 and is predicted to register at a CAGR of over 13.5% between 2023 and 2032. The integration of root cause analysis platforms with AI tools and knowledge graphs in monitoring IT environments is driving the market progression. These platforms utilize advanced algorithms and knowledge graphs to efficiently identify and analyze issues in IT systems.

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For instance, in July 2023, Webb.ai launched an early access for the continuous automated root cause analysis platform. The platform employs a combination of generative AI and machine learning algorithm capabilities derived from Large Language Models (LLMs) to consolidate alerts into advanced insights. These insights are then presented in natural language to DevOps team members.

Knowledge Graph Market Report Attributes
Report Attribute	Details
Base Year:	2022
Knowledge Graph Market Size in 2022:	USD 1 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	13.5%
2032 Value Projection:	USD 3.7 Billion
Historical Data for:	2018 to 2022
No. of Pages:	319
Tables, Charts & Figures:	458
Segments covered:	Type, Task Type, Data Source, Organization Size, Application, End-use, and Region
Growth Drivers:	Increasing need for seamless data integration across various sources Growth of artificial intelligence and machine learning applications Improved search accuracy and personalized recommendations Proliferation of Internet of Things (IoT) devices and the generation of massive volumes of data
Pitfalls & Challenges:	Data privacy and security challenges Complex implementation

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Applications such as search engines, recommendation systems, and data integration are fueling the demand for the market. Search engines utilize knowledge graphs to provide more accurate and relevant search results. Recommendation systems employ these graphs to understand user preferences and deliver personalized content. In data integration, knowledge graphs facilitate the seamless connection of diverse data sources. These applications highlight the versatility and efficiency of knowledge graphs, driving their adoption across various sectors and boosting their market demand.

Maintaining high-quality & consistent data poses significant challenges in the knowledge graph market. Integrating information from diverse sources often results in varied data formats and standards. Inaccurate or inconsistent data can lead to flawed analyses and unreliable insights. Ensuring data quality requires meticulous cleansing, transformation, and validation processes. Additionally, as knowledge graphs continually evolve, sustaining data accuracy becomes an ongoing challenge, demanding robust governance frameworks and continuous monitoring to maintain the integrity of the interconnected information within the graph.

Authors: Preeti Wadhwani, Anish Pathak

Frequently Asked Questions (FAQ) :

The knowledge graph industry was valued at USD 1 billion in 2022 and is predicted to register over 13.5% CAGR between 2023 and 2032.

The BFSI segment was valued at over USD 230 million in 2022 and will grow significantly through 2032 as knowledge graphs are driving advancements in fraud detection and prevention, helping the financial institutes to safeguard the data.

North America knowledge graph market share was over 35% in 2022 and will witness substantial growth through 2032 owing to strategic partnerships to accelerate the migration from varied data sources to valuable data products.

AWS, Cambridge Semantics, Franz Inc., Google, IBM Corporation, Microsoft, Neo4j, Ontotext, Oracle, PoolParty, and Stardog.