What Has Been the Progress and Growth of the Industry 5.0 Market in Recent Years?
The industry 5.0 market has seen considerable growth due to a variety of factors.
• The market size for Industry 5.0 has seen a remarkable increase lately. Its expansion is forecasted to continue from $71.74 billion in 2024 to surge to $96.33 billion in 2025, with a compound annual growth rate (CAGR) of 34.3%.
The significant expansion during the previous period can be linked to progress in AI and robotics, a surge in demand for customized items, expansion of smart manufacturing, elevated levels of automation, an emphasis on sustainability practices, and progress in IoT technologies.
What Can Be Expected from the Industry 5.0 Market in the Coming Years?
The industry 5.0 market is expected to maintain its strong growth trajectory in upcoming years.
• According to predictions, the Industry 5.0 market is set to witness a substantial growth in the upcoming years and is estimated to reach a staggering $310.9 billion in 2029, growing at an impressive compound annual growth rate (CAGR) of 34.0%.
This predicted escalation during the forecast period can be ascribed to factors like the widespread use of cobots, increased focus on sustainability, advancements in sectors like digital twins and industrial 3D printing, the necessity for the processing of real-time data, the rising industrial requirement for AI and robotics, and supportive government initiatives. Key anticipated trends for the forecasted period revolve around the amalgamation of human-machine cooperation, ecologically-friendly manufacturing practices, incorporation of AI in manufacturing processes, development of exceptional AR/VR applications, adoption of industrial 3D printing, and digital twins tech.
Which Factors Are Boosting Growth In The Industry 5.0 Market?
The projected expansion of the industry 5.0 market is likely to be fueled by the escalating use of robots in various industrial sectors. These robotic installations automate monotonous jobs, augment preciseness, and augment efficiency, ultimately boosting productivity and curtailing operational expenses. The quest for greater efficiency, accuracy, and decreased costs in manufacturing and production procedures motivates the adoption of robots in industries. Industry 5.0 promotes the merger of advanced robotics with human collaboration in industries, facilitating more adaptable, efficient, and custom-made manufacturing procedures. For example, the International Federation of Robotics, a Germany-based non-profit professional organization dedicated to the promotion, solidification, and shielding of the global robotics industry, reported in April 2024 that the number of industrial robots used in U.S. manufacturing activities drastically increased in 2023; installations grew by 12% to hit 44,303 units, a significant increment from 40,000 units in 2022. Consequently, the escalating adoption of robots in industries is expected to contribute to the growth of the Industry 5.0 market.
How Are The Segments Defined Within The Global Industry 5.0 Market?
The industry 5.0 market covered in this report is segmented –
1) By Technology: Digital Twin, Industrial 3D Printing, Artificial Intelligence (AI) In Manufacturing, Augmented Reality (AR) Or Virtual Reality (VR), Industrial Sensors, Robots
2) By Organization Size: Large Enterprise, Small And Medium Enterprise
3) By Application: Smart Factories, Personalized Healthcare, Autonomous Vehicles, Smart Cities, Industrial Automation, Other Applications
4) By Industry: Automotive, Energy, Medical, Semiconductor And Electronics, Food And Beverage, Oil And Gas, Aerospace, Metals And Mining, Chemicals, Other Industries
Subsegments:
1) By Digital Twin: Product Digital Twin, Process Digital Twin, System Digital Twin, Performance Digital Twin
2) By Industrial 3D Printing: Additive Manufacturing for Prototyping, Additive Manufacturing for Production Parts, Metal 3D Printing, Polymer 3D Printing, 3D Printing for Custom Components
3) By Artificial Intelligence (AI) in Manufacturing: AI for Predictive Maintenance, AI for Quality Control, AI for Process Optimization, AI-Driven Automation, Machine Learning for Data Analytics
4) By Augmented Reality (AR) or Virtual Reality (VR): AR for Remote Assistance, AR for Training and Simulation, VR for Manufacturing Design, VR for Employee Training, AR for Maintenance and Repair
5) By Industrial Sensors: Temperature Sensors, Pressure Sensors, Proximity Sensors, Humidity Sensors, Vibration Sensors, Optical Sensors
6) By Robots: Collaborative Robots (Cobots), Industrial Robots for Automation, Autonomous Mobile Robots (AMRs), Robots for Material Handling, Robots for Assembly and Packaging
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How Are New Trends Expected To Influence The Growth Of The Industry 5.0 Market?
In the Industry 5.0 market, significant enterprises are directing their efforts towards the development of intelligent factories which incorporate technologies such as smart industrial applications to improve operational efficiency, real-time data analysis, and sustainable approaches. Intelligent industrial apps are software solutions that exploit AI, IoT, and real-time data analytics to streamline and automate different facets of industrial procedures. For example, UnifyTwin, an American Industry 5.0 company, unveiled an Intelligent Industrial App Suite in May 2022. This suite includes five distinct apps aimed at energy management, sustainability, yield optimization, remote surveillance, and asset analytics, which contribute significantly to efficiency and ROI in different industrial domains. By using progressive AI and IoT technologies, these apps deliver valuable insights and suggestions for superior operational performance and sustainability.
Who Are the Key Players in the Industry 5.0 Market?
Major companies operating in the industry 5.0 market are include:
•Siemens AG
• Cisco Systems Inc.
• Oracle Corporation
• Schneider Electric SE
• Mitsubishi Electric Corporation
• Honeywell International Inc.
• SAP SE
• NVIDIA Corporation
• Toshiba Corporation
• Parker-Hannifin Corporation
• Rockwell Automation Inc.
• FANUC Corporation
• Dassault Systèmes SE
• Zebra Technologies Corporation
• Hexagon AB
• Autodesk Inc.
• KUKA AG
• Yaskawa Electric Corporation
• Festo AG & Co. KG
• Dematic Corp.
• PTC Inc.
• Cognex Corporation
• Stratasys Ltd.
• ABB Robotics
What Is The Most Dominant Region In The Industry 5.0 Market?
North America was the largest region in the industry 5.0 market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industry 5.0 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
