The global industry 5.0 market to gather a hefty amount of revenue by observing a remarkable CAGR over the forecast period, i.e., 2022–2030, owing to the emergence of advanced technologies namely, industrial internet of things and artificial intelligence, for data collection and analysis. Apart from this, environmental benefits offered by the implementation of industry 5.0, and spiraling use of industrial robots in various verticals are another significant factors expected to raise the slope of market growth in the forthcoming years.
The International Federation of Robotics reported, in 2018, 422,271 industrial robots were installed worldwide, witnessing a growth by 6 percent since the last year. Besides, automotive industry was the largest consumer of the product with a total share accounting for 30% of all robot installations.
The market is segmented by technology and vertical. Based on technology, the industrial robotics segment is anticipated to occupy notable share backed by the large amount of share garnered by its collaborative robots sub-segment. This can be credited to the surging use of cobots for simple and intuitive interaction with humans. Additionally, by vertical, the manufacturing segment is projected to grab the largest share ascribing to the largescale deployment of SCARA robots for assembly operations in the industry, and growing volumes of data of field devices.
Regionally, the global industry 5.0 market is segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Asia Pacific region is assessed to acquire the largest share in the market during the forecast period attributing to the increasing adoption of industrial automation.
In addition, in APAC, India’s market is predicted to hold a notable share in the coming years in view of the escalating government initiatives regarding digitization. Moreover, Europe is evaluated to the largest market share owing to high industrial output, especially in Germany.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Rising Emergence of IIoT and AI Techniques Worldwide to Drive Market Growth
The advent of industry 5.0 is allowing the utilization of AI and IIoT technologies in such a manner that offers new avenues for leveraging the collaboration between powerful and accurate machinery and the creative potential of human being. Collaborative robotics combined with these technologies are assessed to be the pillars of this industrial transformation. Furthermore, since the inception of industry 4.0, the adoption of IIoT and AI has increased rapidly, which is predicted to escalate even further, proving an impetus to market growth in the near future.
However, data threats associated with integration of advanced technologies is expected to operate as key restraint to the growth of the global industry 5.0 market over the forecast period.
The global industry 5.0 market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
This report also provides the existing competitive scenario of some of the key players of the global industry 5.0 market which includes company profiling of KUKA AG, ENSAI INGENIERIA S.L., Siemens AG, Rockwell Automation Inc., Schneider Electric, ABB Ltd., IBM Corporation, Microsoft Corporation, Cisco Systems, Inc., General Electric Company, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
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On the whole, the report depicts detailed overview of the global industry 5.0 market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.