Analysis and Prediction of Future Research Trends in the State of Industry 5.0

Abstract

Industry 4.0, also known as the fourth industrial revolution, is a term that refers to a higher degree of automation with the purpose of increasing operational productivity and efficiency. This is accomplished through merging the virtual and physical worlds within an industry. Because Industry 4.0 was unable to adapt to and satisfy the growing need for customization, the term "Industry 5.0" was coined to address customised production and empower people in industrial processes. To provide manufacturing solutions that are more user-friendly and resource-efficient than those provided by Industry 4.0, the goal of Industry 5.0, which is thought of as the next stage in the development of industry. This will be accomplished by combining effective, intelligent, and precise machinery. Industry 5.0 is projected to reap the benefits of a wide range of potentially useful technologies and applications that will make it possible to boost production and facilitate the on-demand supply of individualised products. We then elaborately discuss the potential applications of Industry 5.0, such as Information and communications, Real estate, Business services, Manufacturing, Finance/Insurance, Public admin, Automotive, Healthcare. This acts as the impetus for the writing of this article, which use text mining tools and procedures to uncover and assess the many subjects and research trends associated with what Industry 5.0 is doing. Before continuing with additional research using text mining approaches such as key word extraction and frequency analysis, the data was cleaned and preprocessed. In the next part, we will discuss a number of the technologies that will make Industry 5.0 possible. Some of these technologies include edge computing, digital twins, collaborative robots, blockchain, and network speeds of 6G and beyond. The five primary focuses of Industry 5.0 are transformation, supply chain analysis and optimisation, business innovation and digitization, and smart and sustainable manufacturing. It has been observed that there has been a recent increase in interest regarding the concept of Industry 5.0 as a bridge to human-machine communication and cohabitation among members of the scientific community.