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The fifth industrial revolution is known as Industry 5.0 and is being evolved to focus on the personalized demand of customers. This industrial revolution is required to provide better interaction among humans and machines to achieve effective and faster outcomes. It provides a new era of personalization and solves complex problems. Digital technologies provide a new paradigm in manufacturing and eliminate repetitive jobs. It applies human intelligence to understand the requirement of a human operator. The data in manufacturing can be analyzed using machine learning and artificial intelligence (AI). This paper discusses the development of all industrial revolutions and differentiates between Industry 4.0 and Industry 5.0. Further, it identifies the significant elements and capabilities of Industry 5.0 in the manufacturing field. This paper finally identifies 17 critical components of Industry 5.0 and discusses them briefly. Intelligent machines used in this revolution are efficiently used to solve real problems. It provides higher accuracy and speeds up the industrial automation with the help of critical thinking of human resources. Industry 5.0 provides computing power to the industry, which is to facilitate the digital manufacturing systems that are built to communicate with other systems. Thus, with mass personalization, there is customer delight with higher value addition through Industry 5.0.
Javaid et al. (Wed,) studied this question.