Industry 5.0 Market by Technology, Application, End-Use

List of Tables

[192 Pages Report] The Industry 5.0 Market size was estimated at USD 54.81 billion in 2023 and expected to reach USD 68.97 billion in 2024, at a CAGR 26.86% to reach USD 289.97 billion by 2030.

Industry 5.0 represents the next phase in the evolution of manufacturing, where the focus shifts towards a more human-centric approach, integrating advanced technologies such as artificial intelligence (AI), robotics, and the Internet of Things (IoT) with human ingenuity and creativity. This convergence aims to enhance manufacturing productivity, sustainability, and personalization while addressing complex societal challenges. The continual development of AI, machine learning, robotics, and IoT technologies are key enablers of Industry 5.0, allowing for greater automation, efficiency, and precision in the manufacturing sector. Industry 5.0 emphasizes the demand for personalized and customized products, leveraging advanced manufacturing techniques and data analytics to meet individual customer needs more effectively. Increasing requirements for sustainable and environmentally friendly manufacturing processes, which involve minimizing waste, using renewable resources, and creating efficient systems that reduce carbon footprints, drive the market's growth. The high initial setup and integration of advanced technologies in manufacturing processes hamper the market's growth. Advancements in human-machine interfaces and collaborative robots, which can enhance the capabilities of the human workforce, are expected to create opportunities for the Industrial 5.0 market.

KEY MARKET STATISTICS
Base Year [2023]	USD 54.81 billion
Estimated Year [2024]	USD 68.97 billion
Forecast Year [2030]	USD 289.97 billion
CAGR (%)	26.86%

Technology: Growing usage of artificial intelligence (AI) in manufacturing to enhance production efficiency

Artificial intelligence (AI) in manufacturing encompasses the use of smart algorithms and machines that exhibit human-like capabilities to enhance production efficiency. AI technologies, such as machine learning, deep learning, and computer vision, are instrumental in predictive maintenance, quality control, and supply chain optimization, enabling factories to anticipate issues, streamline operations, and enhance product quality. Augmented reality (AR) blends digital content with the real world, providing workers with interactive and enhanced views of physical environments. In the context of Industry 5.0, AR tools can significantly improve training, maintenance, and assembly processes by overlaying digital instructions directly onto the worker's field of view, thereby reducing errors and improving safety and productivity. A Digital twin is a virtual model of a process, product, or service. This pairing of the virtual and physical worlds allows for data analysis and system monitoring to head off problems before they occur, prevent downtime, develop new opportunities, and plan for the future by using simulations. In Industry 5.0, digital twins offer unparalleled opportunities for optimizing manufacturing processes and product design, leading to innovation and enhanced operational efficiency. Industrial 3D printing, also known as additive manufacturing, is revolutionizing production by enabling the layer-by-layer construction of objects from digital models. This technology allows for complex designs, rapid prototyping, and the efficient production of small batches of customized products. In Industry 5.0, 3D printing supports the shift towards more flexible and sustainable manufacturing processes. In the realm of Industry 5.0, robotics plays a critical role in automating repetitive and hazardous tasks, thus enhancing efficiency and safety. Advanced robots equipped with AI are increasingly collaborative, working alongside humans rather than in isolated environments. This symbiosis allows for more adaptable and smarter manufacturing environments where humans and robots learn from each other and improve tasks over time. Virtual reality (VR) creates a completely immersive computer-generated environment that simulates the real world or an imaginary setting. In the scope of Industry 5.0, VR has profound applications in training and simulation, allowing employees to hone their skills without the constraints of the physical world or the risks associated with on-the-job training. VR's immersive environments also hold considerable potential for design and visualization processes in manufacturing.

End-Use: High potential of Industry 5.0 in the automotive industry to meet diverse consumer needs and environmental goals

The aerospace sector, under the influence of Industry 5.0, focuses on integrating advanced technologies such as AI, IoT, and robotics for enhanced manufacturing precision, sustainability, and customization. The sector aims to optimize production lines, improve safety standards, and reduce carbon footprints through intelligent systems and eco-friendly material applications. In the automotive industry, Industry 5.0 introduces a paradigm shift towards more personalized, efficient, and sustainable vehicles. Emphasizing electric vehicles (EVs), autonomous driving technologies, and innovative manufacturing processes, this sector strives for the integration of human touch with advanced robotics to meet diverse consumer needs and environmental goals. The chemicals sector is leveraging Industry 5.0 technologies to drive sustainable manufacturing processes and product innovation. By incorporating AI and IoT into their operations, companies are enhancing safety, reducing waste, and promoting circular economy practices, aiming for a balance between high-quality production and environmental stewardship. With the advent of Industry 5.0, the Energy sector is transitioning towards more sustainable and efficient systems. Incorporating smart grids, renewable energy sources, and digital twins, this sector focuses on optimizing energy distribution, reducing carbon emissions, and enhancing system reliability to meet the growing global energy demands sustainably. The food & beverage industry is utilizing Industry 5.0 technologies to ensure food safety, traceability, and personalized nutrition. Through smart packaging, IoT-enabled supply chains, and AI-driven quality control, this sector aims to enhance operational efficiency and meet the rapidly changing consumer preferences with a higher degree of customization. Industry 5.0 in the medical sector heralds a new era of personalized healthcare, advanced diagnostics, and patient-centered services. Leveraging technologies such as 3D printing for medical devices, AI in diagnostics, and robotics in surgery, the sector aims to improve patient outcomes, optimize treatment methods, and enhance the overall healthcare experience. The metals & mining industry is focusing on sustainable and efficient resource extraction processes under Industry 5.0. By integrating sensors, autonomous vehicles, and AI-driven analysis, this sector seeks to minimize environmental impact, improve safety, and increase operational efficiency, moving towards more responsible and advanced extraction methodologies. Industry 5.0 is transforming the oil & gas sector by introducing smart technologies for exploration, extraction, and processing. Emphasizing on sustainability, the sector incorporates IoT for monitoring and reducing emissions, AI for predictive maintenance, and automation for safer and more efficient operations, aiming to address environmental and operational challenges. The semiconductor & electronics sector, driven by Industry 5.0, is at the forefront of technological innovation, focusing on miniaturization, energy efficiency, and high-performance computing. Through the integration of smart manufacturing processes, this sector is advancing in the development of next-generation electronic components and systems, supporting the demands of an increasingly connected and digital world.

Regional Insights

The Americas, particularly North America, exhibit a robust adoption of Industry 5.0 principles, marked by an integration of human ingenuity and advanced technologies. The United States' innovation, propelled by significant investments in research and development, a strong technological base, and supportive government policies, is expanding the growth of the Industry 4.0 market. This region also shows an increasing trend towards sustainable manufacturing practices and personalized production, which are key aspects of Industry 5.0. Asia-Pacific is witnessing a rapid transformation in the industrial sector, with countries such as Japan, South Korea, and China. This region benefits from advanced manufacturing technologies, a highly skilled workforce, and supportive government initiatives aimed at industrial innovation. The emphasis in APAC is on enhancing efficiency, sustainability, and worker safety through technological advancements. Smart manufacturing and digital transformation initiatives are widespread, driven by the need to meet the growing demands of a burgeoning middle class. Additionally, countries such as India are emerging as potential markets with initiatives to promote manufacturing and digitalization. Europe demonstrates a strong commitment to advancing this new industrial revolution. The focus is on creating highly adaptable, efficient, and sustainable manufacturing ecosystems that incorporate human creativity with smart technologies. Germany, the UK, and France are leading the charge with significant investments in AI, robotics, and cyber-physical systems. In the Middle East, countries, including the UAE, are leveraging Industry 5.0 to diversify their oil-dependent economies, focusing on smart cities and automated manufacturing. Africa shows potential for adopting Industry 5.0 principles, especially in regions with growing technological hubs, including Nigeria and South Africa.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Industry 5.0 Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Industry 5.0 Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Industry 5.0 Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Atos SE, ATS Corporation, Bosch Rexroth AG, Emerson Electric Co., Endress+Hauser Group Services AG, Fujitsu Limited, General Electric Company, Hexagon AB, Hitachi, Ltd., Honeywell International, Inc., Mitsubishi Electric Corporation, Nokia Corporation, NVIDIA Corporation, Omron Corporation, Parker Hannifin Corporation, Rockwell Automation, Inc., SAP SE, Schneider Electric SE, Siemens AG, Stratasys Ltd., TE Connectivity Ltd., Texas Instruments Incorporated, and Yokogawa Electric Corporation.

Market Segmentation & Coverage

This research report categorizes the Industry 5.0 Market to forecast the revenues and analyze trends in each of the following sub-markets:

Technology
- Al In Manufacturing
- Augmented Reality
- Digital Twin
- Industrial 3D Printing
- Robotics
- Virtual Reality

Application
- Cognitive Computing
- Customization & Personalization
- Digitalization & Interconnectivity
- Human-Machine Collaboration
- Sustainability

End-Use
- Aerospace
- Automotive
- Chemicals
- Energy
- Food & Beverage
- Medical
- Metals & Mining
- Oil & Gas
- Semiconductor & Electronics

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Industry 5.0 Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Industry 5.0 Market?

3. What are the technology trends and regulatory frameworks in the Industry 5.0 Market?

4. What is the market share of the leading vendors in the Industry 5.0 Market?

5. Which modes and strategic moves are suitable for entering the Industry 5.0 Market?

Product Code: MRR-F97DD5A7D99C

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising importance of adaptable and resilient supply chains
  - 5.1.1.2. Government support for the adoption of automated technologies across industries
- 5.1.2. Restraints
  - 5.1.2.1. High cost of technologies associated with Industry 5.0
- 5.1.3. Opportunities
  - 5.1.3.1. Rapid development of new technologies that enable smarter and highly efficient industrial processes
  - 5.1.3.2. Growing emphasis on sustainable development and responsible production
- 5.1.4. Challenges
  - 5.1.4.1. Security & privacy concerns with the usage of Industry 5.0
5.2. Market Segmentation Analysis
- 5.2.1. Technology: Growing usage of artificial intelligence (AI) in manufacturing to enhance production efficiency
- 5.2.2. End-Use: High potential of Industry 5.0 in the automotive industry to meet diverse consumer needs and environmental goals
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Industry 5.0 Market, by Technology

6.1. Introduction
6.2. Al In Manufacturing
6.3. Augmented Reality
6.4. Digital Twin
6.5. Industrial 3D Printing
6.6. Robotics
6.7. Virtual Reality

7. Industry 5.0 Market, by Application

7.1. Introduction
7.2. Cognitive Computing
7.3. Customization & Personalization
7.4. Digitalization & Interconnectivity
7.5. Human-Machine Collaboration
7.6. Sustainability

8. Industry 5.0 Market, by End-Use

8.1. Introduction
8.2. Aerospace
8.3. Automotive
8.4. Chemicals
8.5. Energy
8.6. Food & Beverage
8.7. Medical
8.8. Metals & Mining
8.9. Oil & Gas
8.10. Semiconductor & Electronics

9. Americas Industry 5.0 Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Industry 5.0 Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Industry 5.0 Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Rockwell Automation Invests in Industry 5.0 Technology Fund
- 12.3.2. TDK Ventures Invests in Infinite Uptime's Industry 5.0 Digital Intelligence Platform
- 12.3.3. EU Backs USD 100 Million Industry 5.0 Fund
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio