Industry 5.0 Market Size

Industry 5.0 Market size was over USD 66.29 billion in 2024 and is anticipated to reach USD 2.28 trillion by the end of 2037, witnessing around 31.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of industry 5.0 is assessed at USD 82.89 billion. The reason behind the growth is impelled by the rising emergence of advanced technologies, namely industrial Internet of Things (IIoT) and artificial intelligence, as these are indispensable for effective data collection, analysis, and feeding the gathered insights into the manufacturing process to create improved products, and drive business success in the era of Industry 5.0. For instance, by 2025, it's predicted that there will be more than 30 billion linked devices worldwide.

The rapid industrial digitization is believed to fuel the market growth. The industrial sector as a whole is quickly changing owing to digital transformation as a result the manufacturing sector is adopting new technologies at a quick pace to enhance all facets of the production process, including data analytics and factory automation.