Technologies are evolving at an astounding rate. Due to this, platforms and services provided over the past few years have become outdated in the current world. The very evolution of the internet and web platform has been extremely fast paced and we are currently in the web 2.0 iteration. One of the primary contenders for the next iteration of the web platform is the semantic web technology (Web 3.0 as it is popularly known) and this has gained acceptance among various researchers and web experts. This research is not based on the effort to make the machines understand human language but to provide a better user experience. Many researchers believe that Semantic web will have a big impact on human life but there is still a lot to achieve before this vision becomes a reality. Implementation of semantic web faces challenges on multiple fronts. Even though web 3.0 is more theory than reality that hasn?t stopped people from guessing what will come next. This paper explores the evolution of web and various factors that influenced the conceptualization of Semantic Web