Title: Analysing ways of technological growth enables the usage of Industry 5.0 in the market

Authors: H. Shayrine; Pulidindi Venugopal

Addresses: VIT Business School, Vellore Institute of Technology, Vellore – 632 014, Tamil Nadu, India ' VIT Business School, Vellore Institute of Technology, Vellore – 632 014, Tamil Nadu, India

Abstract: 'Industry 5.0' is an emerging concept in the new era of industrialisation. Technological growth can certainly enable new advances in industry and manufacturing, and it is likely expected that it enhances increased automation, digitisation, and connectivity in Industry 5.0-related sectors. It is crucial to think about the potential advantages and disadvantages of these developments, as well as how they will affect society, the workforce, and the market as a whole. An analysis of technical growth has a positive impact on the industry. It aids in improving the business's structure. As a result, fresh business concepts must be developed to improve organisational culture. Survey analysis is significantly measured with the help of the primary quantitative method. The survey has been done on 85 employees with the help of SPSS. This research study helps to analyse the use of different techniques to enhance the growth of the industry. Therefore, it is highlighted that the production of higher quality products in low-cost investment has to be generated in the fourth revolution of the industry due to the use of digital technology. The analysis shows a strong linkage between the two constructs.

Keywords: fourth revolution of industry; Industry 5.0; green revolution; industrial growth; demographic analysis.

DOI: 10.1504/IJPMB.2024.140639

International Journal of Process Management and Benchmarking, 2024 Vol.18 No.1, pp.65 - 81

Received: 08 May 2023
Accepted: 10 May 2023
Published online: 29 Aug 2024 *

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