Comparing the Evolutionary Trajectories of Industry 4.0 and 5.0: A Management Fashion Perspective

Abstract

The concept of Industry 4.0 has received enormous levels of attention since it was introduced in 2011 and continues to be a dominant management trend. However, during the last few years, Industry 5.0 has emerged as an alternative visionary management concept. Although Industry 5.0 builds on and is related to its predecessor, it provides a different vision of the future of industry. Therefore, the aim of this paper is to carry out an in-depth examination of these two related management concepts, using management fashion theory as an interpretive framework and lens. Viewing Industry 4.0 and 5.0 from this vantage point involves analyzing and tracing the involvement activities of the suppliers of the two concepts as well as gauging the concepts’ demand-side impact. Generally, the comparative analysis of the cases of Industry 4.0 and 5.0 indicates that, while the growth and popularity of Industry 4.0 appear to have plateaued, it remains at a high level. Although Industry 5.0 is growing in popularity and is gaining followers and supporters, it is still a much more marginal concept and movement. This study contributes to the management fashion literature by showing how two highly related but competing management concept movements coevolve. Furthermore, the two cases provide novel insights into the trajectories and lifecycles of fashionable management concepts, in particular, the early phase where actors are actively attempting to generate credibility and legitimacy and drum up support and enthusiasm for their preferred ideas.

Bibliometric Trends in Industry 5.0 Research: An Updated Overview

“…The bibliometric trends revealed in this paper clearly show that I5.0 is an upward trajectory, with an exponential growth in publication volume in recent years, with 2022 having almost four times as many publications as 2021. One reason for the growth and expansion of the I5.0 literature is that the concepts' popularity has been fueled by the COVID-19 pandemic [7,8] and a shifting zeitgeist towards a much stronger focus on resilience and sustainability [20]. These are aspects of the I5.0 concept that have been heavily promoted by the European Commission in the last few years [19,55,56].…”

“…Therefore, our study provides more insight into the evolutionary trajectory of the I5.0 concept. By undertaking this endeavor, we actively contribute to enhancing our comprehension of a significant contemporary phenomenon within the realm of business and organizations [20].…”

“…In summary, while I4.0 and I5.0 utilize many of the same technologies, the two approaches differ in several ways. For example, Madsen and Slåtten [20] summarize these main differences, and point out that I5.0 is considerably more human-centric than its predecessor. I5.0 also shifts the emphasis from productivity to sustainability, and from shareholders to a more comprehensive approach that considers the concerns of a diverse group of stakeholders.…”

Transforming KSA's local workforce into global talent: An Industry 4.0 and 5.0 initiative leading to vision 2030

“…To transform Saudi society towards a sustainable, human-centric, and resilient economy, the government has initiated industrialization through industry initiatives. The industrial structure emphasizing Industry 4.0 earlier emphasizes a human-centric approach by implementing Industry 5.0 along with Industry 4.0 initiatives in the country (Madsen and Slåtten, 2023;Zengin et al, 2021). Saudi government initiatives toward digitalization aimed to enhance social skills and expertise in the form of human capital to support digitalization.…”