Semantic web, going to be the next generation of current web, is one of the emerging research areas in intelligent web technology and have high potential for research. Semantic web can be considered as a content-aware intelligent web. Various identified research areas are reasoning, languages, services, processes like discovery, matching, selection, composition, monitoring in semantic web based system. The composition of semantic web services is one of the most demanding and important area because it is generally required to compose multiple services to fulfill the needs of any single customer. Various research problems in each of these mentioned areas can be identified. The usage areas of semantic web technology also need to be explored. A lot of new tools are now developed to make this technology a practical one.