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3. Industry 5.0 Companies - ABB and Honeywell International Inc. are the Key Players

The global Industry 5.0 market is expected to grow from USD 65.8 billion in 2024 to USD 255.7 billion in 2029 at a CAGR of 31.2% during the forecast period. The expansion of the Industry 5.0 market is driven by several factors, including rapid technological advancements in artificial intelligence, robotics, the Internet of Things (IoT), and industrial 3d printing. This evolution responds to the increasing demand for customized products and personalized experiences, fostering a human-centric approach to manufacturing that empowers workers with advanced tools and technologies.

The key players operating in the industry 5.0 market are ABB, Honeywell International Inc., 3D Systems, Rockwell Automation, Siemens, and Emerson Electric Co, among others. These players have adopted various growth strategies to strengthen their position in the industry 5.0 market. The strategies include product launches, contracts, expansions, partnerships, collaborations, and acquisitions.

To know about the assumptions considered for the study download the pdf brochure

Major Industry 5.0 companies include:

• ABB
• Honeywell International Inc
• 3D Systems
• Rockwell Automation
• Siemens, Emerson Electric Co

3D Systems, Inc

3D Systems, Inc. designs, manufactures, and markets 3D printing-centric solutions. The company operates through two segments: Healthcare and Industrial. Under the Industrial segment provides advanced and comprehensive 3D printing solutions comprising products, materials, and services. The product portfolio of 3D Systems, Inc. comprises 3D printers and software, including 3D scanners and perceptual devices. These devices facilitate the seamless integration of printers and software. 3D Systems, Inc. manufactures and assembles various 3D printers at its facilities in the US, Israel, and France. In addition, the company outsources a few of its printer production, assembly, and refurbishment activities to selected companies and suppliers. It produces print materials at its facilities and procures these from third parties to meet their requirements. With rapid technological advancement in the 3D printing industry, it has been focusing on research & development (R&D) to develop new printers and printing materials and improve and expand the capabilities of its printers, materials, and software.

ABB

ABB is a global leader in power and automation technologies. The ABB Group was founded in 1988 after the merger of Asea AB (Sweden) and BBC Brown Boveri AG (Switzerland). The company mainly provides robotics, power, heavy electrical equipment, and automation technology. It has a presence in Europe, the Americas, Asia, and the Middle East & Africa. It operates through four business segments: Electrification, Motion, Process Automation, and Robotics & Discrete Automation. It also offers collaborative robots under its Robotics & Discrete Automation business segment.ABB offers a range of products, solutions, and services, including optical network products, voice systems, and wireless solutions and services.

Emerson Electric Co

Emerson Electric Co., (US), originally established as The Emerson Electric Manufacturing Company, specializes in the production of electric motors and fans. Alongside these core products, the company is heavily involved in the development of process control systems, valves, and analytical instruments. Its clientele spans industrial, commercial, and consumer markets. Emerson Electric Co. operates through three distinct business segments: Automation Solutions, Commercial & Residential Solutions, and AspenTech. Under the Automation Solutions segment, it offers an array of products and services categorized into subsegments including Measurement & Analytical Instrumentation, Valves, Actuators & Regulators, Industrial Solutions, and Process Control Systems & Solutions. The company also provides the Plantweb digital ecosystem, comprising a scalable portfolio of technologies, software, and services. With a global footprint, Emerson Electric Co. extends its reach across regions including the US, Canada, Asia, Europe, the Middle East and Africa, as well as Latin America.

Honeywell International Inc

Honeywell International Inc. is a diversified technology and manufacturing company offering building automation systems, commercial combustion control systems, scanners, computer devices, wearable devices, radio frequency Identification (RFID) solutions, connected vehicle solutions, advanced automotive technologies, protective equipment, sensors, and switches. These products and solutions have applications in construction, retail, manufacturing, automotive, energy and utilities, aerospace and defense, healthcare, and chemicals industries. The company operates through the following business segments: Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Honeywell building technologies segment provides products, software, solutions, and technologies to commercial building owners and occupants to ensure safe, energy-efficient, sustainable, and productive facilities.

Siemens

Siemens is a pioneer in electrical engineering. The company is well known for establishing major electrical infrastructure, trains and railways electrification, industrial automation, motors and drives, and healthcare diagnostics machines. It operates through four reportable segments: Digital Industries, Smart Infrastructure, Mobility, Siemens Financial Services, Portfolio Companies, and Siemens Healthineers. The Digital Industries division offers a portfolio of products and solutions for automation technologies deployed in manufacturing industries. It provides various automation products and components, from field devices, such as industrial control equipment, sensors, and process analysis equipment, to plant-level software, such as plant operations management and performance analytics software solutions. Siemens Digital Industries division provides automation systems, identification systems, industrial communication systems, industrial controls, industry services, manufacturing execution systems (MES), operator controls and monitoring systems, PC-based automation solutions, power supplies, process analytics, and process control systems for industrial automation. The company has a wide geographic presence, mainly across the Americas, Europe, Asia, Australia, CIS, and the Middle East and Africa.

Apart from these companies, other key companies are working toward strengthening their position in the market by developing innovative technologies.

Related Reports:

Industry 5.0 Market by Technology (Digital Twin, Al in Manufacturing, Industrial Sensors, Augmented & Virtual Reality, Industrial 3D Printing, Robotics), Sustainability (Waste-to-Energy Conversion, Recycle, Material), Industry - Global Forecast to 2029

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
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Northbrook, IL 60062
USA : 1-888-600-6441
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