The knowledge graph market size is projected to grow from USD 0.9 billion in 2023 to USD 2.4 billion by 2028, at a CAGR of 21.8% during the forecast period. Effective data integration and management solutions are becoming more and more necessary due to the exponential growth of data. Knowledge graphs are useful for businesses because they offer an organized method of integrating, organizing, and managing data from several sources.
Various globally established players, such as IBM (US), Microsoft (US), AWS (US), Neo4j (US), TigerGraph (US), SAP (Germany), Oracle (US), Stardog (US), Franz Inc (US), Ontotext (Bulgaria), are dominating the knowledge graph market. These competitors have used various growth methods to increase their market share in the knowledge graph market, including partnerships, agreements, collaborations, new product releases, product enhancements, and acquisitions.
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IBM is a multinational technology and consulting corporation that offers infrastructure, hosting, and consulting services. It is a creator, developer, and manufacturer of some of the world’s most updated technologies. Through its Watson AI platform, IBM offers tools like the Watson Knowledge Studio, enabling organizations to create and customize knowledge graphs for structured data extraction from unstructured sources. These solutions cater to diverse industries, including healthcare, finance, and customer service, empowering them to build domain-specific knowledge graphs. IBM is one of the top vendors in the knowledge graph market, owing to the strong portfolio of solutions and services that the company offers in the market.
Microsoft develops and supports software, services, devices, and solutions. Offering Azure Knowledge Graph, a cloud-based service, Microsoft empowers organizations to build and manage knowledge graphs, facilitating data representation and analysis for insightful decision-making. Furthermore, Microsoft's Azure cloud platform provides a range of complementary services, such as Azure Data Factory, Azure Databricks, Azure Machine Learning, and Azure Cosmos DB, which can be integrated into knowledge graph solutions. The company's Power BI tool aids users in visualizing and analyzing data from various sources, including knowledge graphs, to generate interactive reports and dashboards. Microsoft's acquisition of LinkedIn adds a professional networking dimension, while their commitment to research and development, particularly in AI and ML, enhances data analysis within knowledge graphs.
Knowledge Graph Market by Offering (Solutions, Services), By Data Source (Structured, Unstructured, Semi-structured), Industry (BFSI, IT & ITeS, Telecom, Healthcare), Model Type, Application, Type and Region - Global Forecast to 2028
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