Affiliation:
1. Department of Economic Informatics and Cybernetics, Bucharest University of Economic Studies, 010552 Bucharest, Romania
2. Department of Management, Bucharest University of Economic Studies, 010552 Bucharest, Romania
3. Faculty of Business Administration in Foreign Languages, Bucharest University of Economic Studies, 010552 Bucharest, Romania
4. Institute for Economic Forecasting, Romanian Academy, 050711 Bucharest, Romania
Abstract
The rapid advancement of technology has led to significant milestones in industrial progress, surpassing previous capabilities and presenting new challenges for adaptation. The current phase of industrial revolutions is characterized by accelerated technological development, particularly in automation and digitalization. For instance, the global industrial robotics market was valued at approximately USD 43.0 billion in 2022 and is projected to reach USD 70.6 billion by 2028. The integration of human labor alongside robotic machinery, though a tangible reality, may still seem abstract in certain regions. Despite the recent announcement of the fourth industrial revolution, Industry 5.0 has quickly emerged as the new standard toward which industries aspire. This study performs a bibliometric analysis of articles published between 2020 and 2023 that explores the implications of these two industrial revolutions and the transition between them. Using the Clarivate Analytics’ Web of Science Core Collection, the study identifies 154 articles using the Biblioshiny package in R, which simultaneously discuss Industry 4.0 and Industry 5.0 within their titles, abstracts, or keywords. An impressive annual growth rate of 119.47% among the published papers included in the dataset underlines the interest of the research community in this field. Additionally, key findings include the identification of prominent sources, prolific authors, highly cited articles and their content, as well as common research themes explored across the analyzed papers. Among the most relevant sources in terms of the number of publications, the journal Sustainability plays a key role, holding the first position, followed by Applied Sciences, and Sensors. In terms of motor themes, digital transformation, artificial intelligence, the Internet of Things, and smart manufacturing have been found to play a key role. As a result, the present research contributes to understanding the rapid evolution from Industry 4.0 to Industry 5.0, highlighting key trends, influential research, and emerging themes that are shaping the future of industrial advancements.