Industry 5.0 Market Size, Share, Analysis, Trends, Growth, Forecasts, 2032

Industry 5.0 Industry Prospective:

The global industry 5.0 market size was evaluated at $130 billion in 2023 and is slated to hit $638 billion by the end of 2032 with a CAGR of nearly 18% between 2024 and 2032.

Request Free Sample   

Industry 5.0 Market: Overview

Industry 5.0 is also referred to as the fifth industrial revolution and represents a new stage of industrialization that integrates craftsmanship and human creativity with new technological systems & AI-driven robots. Key features of Industry 5.0 include human-machine interaction, social responsibility, workforce reskilling, cyber security, and maintaining the privacy of data.

Key Insights

• As per the analysis shared by our research analyst, the global industry 5.0 market is projected to expand annually at the annual growth rate of around 18% over the forecast timespan (2024-2032)
•  In terms of revenue, the global industry 5.0 market size was evaluated at nearly $130 billion in 2023 and is expected to reach $638 billion by 2032.
• The global industry 5.0 market is anticipated to grow rapidly over the forecast timeline owing to a growing focus on a human-centric approach and supportive government policies.
• In terms of technology, the digital twin segment is slated to register the highest CAGR over the forecast period.
• Based on end-users, the automotive segment is predicted to contribute majorly towards the global industry revenue in the upcoming years.
• Region-wise, the Asia-Pacific industry 5.0 sector is projected to register the fastest CAGR during the forecast timespan.

Industry 5.0 Market: Growth Factors

Technological advancements and favorable government guidelines to prop up the global market surge by 2032

Technological breakthroughs and the need for customization are likely to boost the expansion of the industry 5.0 market across the globe. Growing focus on a human-centric approach and supportive government policies can upsurge the progress of the market in the ensuing years. An integration of technology and humans can provide impetus to the expansion of the global market. A large-scale use of AI, IoT, and data analytics for reducing waste generation and environmental pollution is predicted to boost the escalation of the market globally. Moreover, swift manufacturing processes, the use of collaborative robots, and digital twins usage is predicted to facilitate the expansion of the market across the globe. Escalating need for improving the quality & accuracy of production processes is likely to spur global market trends. Humongous demand for enhancing the adaptability & flexibility of various industrial processes is predicted to culminate into huge market demand in the years to come.

Industry 5.0 Market: Restraints

Growing issues such as need of protecting data confidentiality can restrict the global industry expansion over analysis timeline

An increase in the concerns pertaining to data security as well as data privacy can restrict the expansion of the global industry 5.0 sector in the coming years. A surge in the necessity of huge initial investments along with risks of cyber-attacks can prove detrimental to the expansion of the industry across the globe.

Industry 5.0 Market: Opportunities

A surge in the popularity of robots & AI tools will open new growth avenues for the global market

Rapid use of 3D printing systems in the production of medical devices & customized medicines is predicted to open new growth avenues for the global industry 5.0 market. Large-scale demand for power-efficient robots and the use of AI systems is anticipated to prop up the expansion of the market globally.

Industry 5.0 Market: Challenges

Growing costs of deploying industry 5.0 systems can challenge the expansion of the sector in the forecast period

Need for constant technological breakthroughs is set to challenge the expansion of the global industry 5.0 sector in the upcoming years. Surge in the cost of implementing industry 5.0 tools and the lack of availability of skilled professionals along with the cyber-security threats can put brakes on the progress of the sector across the globe in the coming years.

Industry 5.0 Market: Segmentation

The global industry 5.0 market is divided into technology, end-user, and region.                                          

In terms of technology, the industry 5.0 market across the globe is bifurcated into industrial 3D printing, robotics, digital twin, AI in the manufacturing sector, industrial sensors, augmented reality, and virtual reality segments. Additionally, the digital twin segment, which gained approximately 53.2% of the global market revenue in 2023, is predicted to register the fastest CAGR in the forecast timespan. The expansion of the segment in the next few years can be due to the launching of industry 5.0 principles. Moreover, an increase in the application of digital twin systems in Industry 5.0 will spur the segmental surge.   

Based on the end-user, the global industry 5.0 sector is divided into aerospace, metals & mining, automotive, semiconductor & electronics, and healthcare segments. Furthermore, the automotive segment, which gathered approximately 66% of the global industry earnings in 2023, is expected to account for a major portion of the global industry revenue in the forecasting timeline. The expansion of the segment in the analysis period can be subject to improvement in the production processes along with seamless integration of automation and digital systems.  

Industry 5.0 Market: Report Scope

Industry 5.0 Market: Regional Insights

North America is slated to maintain leadership position in the global market during the forecast timeline

North America, which accounted for 54% of the global Industry 5.0 market revenue in 2023, is predicted to establish a key position in the global market in the coming few years. In addition to this, the regional market expansion in the forecast timeline can be credited to a paradigm shift in the manufacturing processes in countries such as the U.S. In addition to this, the integration of new digital systems with conventional processes has improved output in the manufacturing sector in the region.  

Asia-Pacific industry 5.0 sector is predicted to register the fastest growth rate each year in the coming few years. The growth of the sector in APAC can be due to constant breakthroughs in the technology domain. Furthermore, a surge in the allocation of funds in digital infrastructure along with a rise in the acceptance of next-gen systems and focus on digital transformation will steer the growth of the sector in the region.

Key Developments

• In the second half of 2021, Unify Twin, Inc., introduced new industry 5.0 services focusing on the integration of machine and human intelligence for eliminating digital blind spots for improving manufacturing operations.
• In the first half of 2023, Piher Sensing Systems, a division of Amphenol Corporation, declared the launching of the hsco-1w open loop current sensor. Such moves will spearhead the growth of the industry 5.0 market across the globe.

Industry 5.0 Market: Competitive Space

The global industry 5.0 market profiles key players such as:

• Rockwell Automation Inc.
• ABB SE
• FANUC CORPORATION
• Siemens AG
• Kuka AG.
• Universal Robots A/S
• Nexus Integra
• Schneider Electric
• Cisco Systems Inc.
• Yaskawa Electric Corp.

The global Industry 5.0 market is segmented as follows:

By Technology

• Industrial 3D Printing
• Robotics
• Digital Twin
• AI in Manufacturing Sector
• Industrial Sensors
• Augmented Reality
• Virtual Reality

By End-User

• Aerospace
• Metals & Mining
• Automotive
• Semiconductor & Electronics
• Healthcare

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa