The global Industry 5.0 market is anticipated to grow at a CAGR of 17.8% during the forecast period (2023-2030). Industry 5.0 focuses on the collaboration of human machines creating a more sustainable, resilient, and human-centric industrial sector by using technologies such as the Internet (IoT), Artificial Intelligence (AI)/Machine learning (ML), and big data analytics among others. Continuously growing demand pushes companies to more efficient production solutions along with sustainability. Apart from these technological advancements, stringent environmental regulations, growing competition, and increasing investments are driving growth in the industry 5.0 sector.
Browse the full report description of “Industry 5.0 Market Size, Share & Trends Analysis Report By Technology (Artificial intelligence (AI)/Machine learning (ML), Robotics, Internet of Things (IoT), Big data analytics, Others(Digital twins, Edge computing, Quantum computing)), by company size (Small and medium-sized enterprises (SMEs), Large enterprises), and by Industry (Manufacturing, Healthcare, Energy, Retail, Automotive, Others(Government, Logistics and supply chain)) Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/industry-5-0-market
For instance, In September 2023, Accel, a venture capital firm, announced the commencement of the application process for the third cohort of its accelerator program, "Accel Atoms," aimed at providing support to early-stage startups focused on developing solutions for Industry 5.0. This six-month program is designed to offer tailored mentorship to emerging startups from India and Southeast Asia. Throughout the program's duration, participating startups will have the opportunity to engage with a carefully curated community comprising founders, industry experts, technology professionals, and researchers.
In May 2023, Infineon Technologies, a semiconductor manufacturer, launched a $74.4 million project, AIMS5.0 (Artificial Intelligence in Manufacturing Leading to Sustainability and Industry 5.0), to develop the next generation of industrial AI systems. The project will focus on developing hardware and software-based AI to improve resource consumption in manufacturing and raise product quality. Specific areas of research include machine learning (ML) in semiconductor manufacturing and hardware interfaces to the brain to control exoskeletons.
In July 2023, TDK Corporation announced an investment by its subsidiary, TDK Ventures Inc., in Infinite Uptime, a startup specializing in Industry 5.0. Infinite Uptime's digital intelligence platform utilizes advanced sensor technology, sophisticated analytics, and machine-learning algorithms to monitor essential mechanical equipment within industrial contexts.
In January 2023, Zurich-based venture capital group Momenta launched a $100 million target fund for ‘Industry 5.0’ technology. The fund will be used to support startups in Europe (European Union and European Free Trade Zone), plus in the UK, US, and Canada.
In May 2023, ABB LV Installation Materials Co., Ltd. Beijing announced the opening of an automated flexible miniature circuit breaker (MCB) production line. The factory is based on advanced industry 5.0 principles. The manufacturing facility is equipped with automation, digital, and AI technology which will help the company boost production, quality, and availability of MCBs.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Technology
o By company size
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Rockwell Automation Inc., Siemens AG, and SAP SE among others.
Key questions addressed by the report.
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Industry 5.0 Market Report Segment
By Technology
By Company Size
By Industry
Global Industry 5.0 Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
To learn more about this report request a sample copy @ https://www.omrglobal.com/request-sample/industry-5-0-market