The W3C has a "vision" for this. My take is a little more simplistic and mearly referrers to web design that is based on semantic terms with respect to linking of pages etc..
What W3C say:
In addition to the classic “Web of documents” W3C is helping to build a technology stack to support a “Web of data,” the sort of data you find in databases. The ultimate goal of the Web of data is to enable computers to do more useful work and to develop systems that can support trusted interactions over the network. The term “Semantic Web” refers to W3C’s vision of the Web of linked data. Semantic Web technologies enable people to create data stores on the Web, build vocabularies, and write rules for handling data. Linked data are empowered by technologies such as RDF, SPARQL, OWL, and SKOS.