Industry 5.0 Market

Industry 5.0 Market Size, Share, Growth Analysis, By Sustainability(Waste-to-Energy Conversion, Recycled Material, Bio-based Material), Technology(Digital Twin, Industrial 3d Printing, Robotics, Industrial Sensors, AR&VR, 5G Industrial IOT), Industry, and Region - Industry Forecast 2024-2031

Report ID: SQMIG45D2103 | Region: Global | Published Date: June, 2024
Pages: 199 | Tables: 137 | Figures: 77

Industry 5.0 Market News

  • In November 2023, Rockwell announced that it had invested in Momenta’s Industry 5.0 Fund. The USD 100 million fund was created by Momenta, a venture capital firm from Switzerland in partnership with the European Union Commission to support new companies in the Industry 5.0 space. This move will allow Rockwell to have early access to innovative Industry 5.0 technologies.
  • Accel, a renowned venture capital firm, announced the names of start-ups that were going to be a part of its accelerator program and focused on Industry 5.0 and AI in March 2024. This is expected to fast-track innovation in the Industry 5.0 space going forward.
  • ABB deployed its Industry 5.0 technologies to enhance and automate the production of miniature circuit breakers (MCB) for its facility in Beijing, China, back in May 2023. The ABB LV Installation Materials Co., Ltd. Beijing facility now acts as a showcase for ABB’s expertise in the industry 5.0 business.
$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Industry 5.0 Market size was valued at USD 40.01 Billion in 2022 and is poised to grow from USD 52.61 Billion in 2023 to USD 470.43 Billion by 2031, growing at a CAGR of 31.5% during the forecast period (2024-2031).

The global Industry 5.0 market is highly opportune for companies who focus on innovation. Developing new technologies that solve the current industry problems will pay of big time for Industry 5.0 companies. Launching new technologies and enhancing current ones will be a key focal point for all Industry 5.0 companies in the future. 'ABB (Switzerland)', 'Honeywell International Inc (US)', 'Advanced Micro Devices (US)', '3D Systems (US)', 'IBM Corporation (US)', 'Rockwell Automation (US)', 'Siemens (Germany)', 'Emerson Electric Co (US)', 'Schneider Electric (France)', 'Yokogawa Electric Corporation (Japan)', 'Cisco Systems, inc. (US)', 'STRATASYS (Israel)', 'AlBrain (US)', 'Addverb Technologies (India)', 'Universal Robots (Denmark)', 'Techman Robot (Taiwan)', 'Nvidia (US)', 'John Bean Technologies Corporation (US)', 'Intel (US)', 'Daifuku (Japan)', 'Cognex Corporation (US)'

Growing Demand for Human-Machine Collaboration

Incorporation of Ethical Manufacturing: From ethical raw material sourcing to ethical management of human resources to improve society and sustainability, almost all aspects of Industry 5.0 should improve the industry. Companies should design their industry 5.0 technologies to be more ethically responsible towards the environment and society collectively.

Robust technological infrastructure and quick adoption of advanced technologies allows North America to dominate the global Industry 5.0 market. Supportive regulatory framework and the presence of key Industry 5.0 technology providers in this region also helps dominance of North America. The United States and Canada are estimated to be the most opportune markets for Industry 5.0 companies in this region.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

Click here right-arrow
logo-images

Feedback From Our Clients

Industry 5.0 Market

Report ID: SQMIG45D2103

$5,300
BUY NOW GET FREE SAMPLE