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The current M.Sc. thesis determines research trends and scopes for Industry 5.0 through an exploratory analysis of the emerging literature upon Industry 5.0. As Industry 5.0 is a novel concept, this study first attempts to understand the landscape, scope and agenda of Industry 5.0 literature. Secondly, identifies the progress and development trends of Industry 5.0. Furthermore, it investigates if human-centricity, sustainability, and resiliency are stressed in Industry 5.0 literature or if it is only seen as an extension of the Industry 4.0 paradigm with no mention of societal objectives. Lastly, considering that Industry 5.0 is a concept that the European Commission introduced, determines if there is a larger emphasis on human-centricity, sustainability, and resilience in the EU region than there is in the rest of the world. The scientific databases Scopus and Web of Science were utilized together with and the bibliometric tools Bibliometrix/Biblioshiny, VOSviewer, and ATLAS.ti. The result of the performed study concluded that Industry 5.0 mainly emerged due to limitations in the implementation of Industry 4.0 that is technology oriented. Small and Medium Enterprises (SMEs), which are significant factors in the development of the global economy and the creation of jobs, could not participate in Industry 4.0 due to their well-known resource limitations in terms of personnel, technology, and budget. Major Political, Social and Environmental crises emphasized the importance of workers and generated attention for the environmental and social impact of Industry. Furthermore, young generation of workers, Millennials and Zoomers, are among the most passionate supporters of worker welfare and stress the importance of human aspects in the working environment of the coming years. The bibliometric analysis demonstrates the shift towards a societally focused industry, a more resilient and sustainable industry that is enhancing humanization and protecting the environment.