Web 3.0 promises to have a significant effect in users and businesses. It will change how people work and play, how companies use information to market and sell their products, as well as operate their businesses. The basic shift occurring in web 3.0 is from information-centric to knowledge-centric patterns of computing. Web 3.0 will enable people and machines to connect, evolve, share and use knowledge on an unprecedented scale and in new ways that make their experience of the Internet better. Additionally, semantic technologies have the potential to drive significant improvements in capabilities and life cycle economics through cost reductions, improved efficiencies, enhanced effectiveness, and new functionalities that were not possible or economically feasible before.