Behind the definition of Industry 5.0: a systematic review of technologies, principles, components, and values

ABSTRACT This study addresses the emerging concept of Industry 5.0, which aims to tackle societal concerns associated with the ongoing digital industrial transformation. However, there is still a lack of consensus on the definition and scope of Industry 5.0, as well as limited understanding of its technological components, design principles, and intended values. To bridge these knowledge gaps, the study conducts a content-centric review of relevant literature and synthesizes evidence to develop an architectural design for Industry 5.0. The findings reveal that Industry 5.0 represents the future of industrial transformation, offering potential solutions to socio-economic and environmental issues that were inadequately addressed or exacerbated by Industry 4.0. The study provides managers, industrialists, and policymakers with a comprehensive overview of Industry 5.0, including its technological constituents, design principles, and smart components, emphasizing the importance of stakeholder involvement and integration for effective governance of digital industrial transformation within this framework.