Industry 5.0, the next industrial revolution, aims to combine human expertise with efficient machines to create resource-efficient manufacturing solutions. This paper provides an overview of Industry 5.0, discussing potential applications such as intelligent healthcare, cloud manufacturing and supporting technologies like edge computing, digital twins, and blockchain. It also highlights research challenges for the realization of Industry 5.0. This paper presents an initial discussion on Industry 5.0 by a tutorial focused on its potential applications and the supporting technologies associated with it. A comprehensive study has been conducted to gather information from various sources within the manufacturing sector. Furthermore, we underscore several research challenges and unresolved issues that require further exploration to fully realize the objectives of Industry 5.0. The paper aims to define I5.0 through a literature review of enabling technologies, challenges, and opportunities related to the transition from I4.0. The results show growing interest in I5.0 and a strong link with the enabling technologies. The conclusions offer insights into future research trends and managerial implications.