Forecasting the Future: The Role of Digital Transformation in the Evolution of Industry 5.0 in Developing Economies

Chandra, Saurabh and Bhutani, Monica and Chethana, C. and Ramaratnam, M. S. and Misra, Dolly and Kaur, Rippandeep (2025) Forecasting the Future: The Role of Digital Transformation in the Evolution of Industry 5.0 in Developing Economies. Digital Transformation Driving Industry 5.0 in Developing Economies, 1438. pp. 267-286. ISSN 2367-3370

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Abstract

This research paper investigates how digital transformation influences the readiness and adoption of Industry 5.0 in developing economies, presenting an empirical assessment of challenges and opportunities. Industry 5.0, emphasizing human-centered automation and sustainability, redefines industrial structures, government strategies, and business models through technologies like AI, IoT, robotics, and blockchain. Using quantitative analysis, the study evaluates disparities in readiness scores across nations, highlighting critical enablers such as digital infrastructure, workforce development, and innovation ecosystems. The findings underscore significant challenges, including infrastructural deficits, skills gaps, and funding constraints, while showcasing immense opportunities for economic growth, sustainability, and innovation. The paper introduces actionable recommendations for fostering digitalization, addressing policy gaps, and prioritizing investments in education and infrastructure to accelerate the transition to Industry 5.0. By providing a comprehensive data-driven analysis, this study offers a roadmap for developing economies to navigate the fifth industrial revolution, ensuring inclusive and sustainable growth. © 2025 Elsevier B.V., All rights reserved.

Item Type: Article
Subjects: Business, Management and Accounting > Management of Technology and Innovation
Divisions: Engineering and Technology > Aarupadai Veedu Institute of Technology, Chennai > Electrical & Electronics Engineering
Depositing User: Unnamed user with email techsupport@mosys.org
Date Deposited: 25 Nov 2025 09:20
Last Modified: 25 Nov 2025 09:20
URI: https://vmuir.mosys.org/id/eprint/965

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