The Performance of EU Member States in Terms of Industry 5.0
The Performance of EU Member States in Terms of Industry 5.0

Summary/Abstract: Industry 5.0 has the role of addressing the fundamental limitations of Industry 4.0, its development positively influencing the competitiveness of a state by stimulating the technological innovation, human capital development, sustainability, and economic resilience. Thus, the main objective of this paper is to examine the situation of the European Union Member States in terms of Industry 5.0 degree of development and to propose possible development measures accordingly. The research methodology is based on building an indicator that measures aggregate performance on the three basic pillars of Industry 5.0: human-centricity, sustainability, and resilience, based on which the states are subsequently grouped into four performance clusters. The main results indicate high performances in the case of Denmark, Finland, and the Netherlands, while at the opposite pole is Bulgaria. The paper presents certain practical implications by proposing an index for measuring Industry 5.0 and highlighting which states have effective policies and development models, which can be considered as best practice. The paper also has some limitations, especially in terms of the number of the constituent variables of Industry 5.0 index.

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