The North America Industry 5.0 Market is expected to witness market growth of 28.3% CAGR during the forecast period (2024-2031).
The US market dominated the North America Industry 5.0 Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $89.10 billion by 2031. The Canada market is expected to witness a CAGR of 29.8% during 2024-2031. Additionally, the Mexico market would register a CAGR of 29.6% during 2024-2031.
Industry 5.0, often described as the next evolution in the industrial revolution, is emerging as a new paradigm in the manufacturing, production, and service sectors. Building upon the foundation of Industry 4.0, which heavily emphasizes automation, connectivity, and data analytics, Industry 5.0 focuses on human-centric approaches. This revolutionary phase aims to balance technological advances with human expertise, combining both strengths to create more sustainable, efficient, and innovative production systems.
While Industry 4.0 was primarily driven by machine learning, artificial intelligence (AI), robotics, and the Internet of Things (IoT), Industry 5.0 is characterized by human-robot collaboration, personalized manufacturing, and advanced customization. The aim is to redefine the relationship between people and machines in the workplace, leveraging humans' unique skills and machines' efficiency. In this context, Industry 5.0 emphasizes increased collaboration, precision, and innovation while focusing on environmental sustainability and societal well-being.
Canada’s food and beverage processing sector, the country’s top manufacturing industry in 2022, reached record-high sales of $156.5 billion, with exports surging to $54.3 billion. With rising production demands, Industry 5.0 enables enhanced automation and human-robot collaboration to streamline processes while maintaining quality. Industry 5.0 supports mass customization in food production, allowing manufacturers to cater to evolving consumer preferences while minimizing waste. Leveraging Industry 5.0 technologies, such as blockchain and IoT, Canada’s food and beverage sector can improve traceability, efficiency, and sustainability across supply chains. Thus, the growth of clean energy in Mexico and the expansion of Canada’s food and beverage processing industry act as catalysts for Industry 5.0 adoption.
The US market dominated the North America Industry 5.0 Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $89.10 billion by 2031. The Canada market is expected to witness a CAGR of 29.8% during 2024-2031. Additionally, the Mexico market would register a CAGR of 29.6% during 2024-2031.
Industry 5.0, often described as the next evolution in the industrial revolution, is emerging as a new paradigm in the manufacturing, production, and service sectors. Building upon the foundation of Industry 4.0, which heavily emphasizes automation, connectivity, and data analytics, Industry 5.0 focuses on human-centric approaches. This revolutionary phase aims to balance technological advances with human expertise, combining both strengths to create more sustainable, efficient, and innovative production systems.
While Industry 4.0 was primarily driven by machine learning, artificial intelligence (AI), robotics, and the Internet of Things (IoT), Industry 5.0 is characterized by human-robot collaboration, personalized manufacturing, and advanced customization. The aim is to redefine the relationship between people and machines in the workplace, leveraging humans' unique skills and machines' efficiency. In this context, Industry 5.0 emphasizes increased collaboration, precision, and innovation while focusing on environmental sustainability and societal well-being.
Canada’s food and beverage processing sector, the country’s top manufacturing industry in 2022, reached record-high sales of $156.5 billion, with exports surging to $54.3 billion. With rising production demands, Industry 5.0 enables enhanced automation and human-robot collaboration to streamline processes while maintaining quality. Industry 5.0 supports mass customization in food production, allowing manufacturers to cater to evolving consumer preferences while minimizing waste. Leveraging Industry 5.0 technologies, such as blockchain and IoT, Canada’s food and beverage sector can improve traceability, efficiency, and sustainability across supply chains. Thus, the growth of clean energy in Mexico and the expansion of Canada’s food and beverage processing industry act as catalysts for Industry 5.0 adoption.
List of Key Companies Profiled
- ABB Ltd.
- Rockwell Automation, Inc.
- Siemens AG
- Hexagon AB
- Schneider Electric SE
- Cisco Systems, Inc.
- Kuka AG (Midea Group Co., Ltd.)
- Google LLC (Alphabet Inc.)
- Nokia Corporation
- SAP SE
Market Report Segmentation
By Component
- Hardware
- Software
- Services
By End Use
- Manufacturing
- Automotive
- Food & Beverage
- Oil & Gas
- Healthcare
- Energy & Utilities
- Others
By Technology
- Robotics
- 3D Printing
- Artificial Intelligence (AI) & Machine Learning (ML)
- Industrial Sensors
- Cloud Computing
- Big Data & Advanced Analytics
- Augmented Reality (AR) & Virtual Reality (VR)
- Digital Twin
- Other Technology
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America Industry 5.0 Market by Component
Chapter 6. North America Industry 5.0 Market by End Use
Chapter 7. North America Industry 5.0 Market by Technology
Chapter 8. North America Industry 5.0 Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- ABB Ltd.
- Rockwell Automation, Inc.
- Siemens AG
- Hexagon AB
- Schneider Electric SE
- Cisco Systems, Inc.
- Kuka AG (Midea Group Co., Ltd.)
- Google LLC (Alphabet Inc.)
- Nokia Corporation
- SAP SE
Methodology
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