The industrial evolution has emerged the concept of Industry 5.0 paradigm. The concept of Industry 5.0 emphasizes three main aspects of industrial development, i.e. sustainability, resilience, and human centric. The emerging tech-nologies related to digitalisation and artificial intelligence are expected to augment human-system-interaction in various industrial processes. Integrating AI and digital technologies to enable human-centric solutions in industry can manifest in a concept called “Industrial Metaverse”. The Industrial Metaverse is considered a concept that emerged from integrating the Metaverse and Digital Twin, but adapted to specific characteristics of industrial contexts. Industrial Metaverse can enhance Asset Management (AM) within the Industry 5.0 framework. By integrating AI and advanced digital technologies, the Metaverse offers a promising roadmap for optimising human-system interaction in industrial contexts. Metaverse is expected to enhance human centricity of Industry 5.0 and developing metaverse in industrial contexts is challenging and requires a framework. Hence, this paper provides a framework that helps to develop Industrial Metaverse in the context of AM specifically in maintenance. This paper employs literature review in popular databases and discussions with industrial stakeholders to present the current landscape of Metaverse application in Industry 5.0 with a specific focus on maintenance. A case study from the railway sector demonstrates the practical benefits of the Metaverse in improving operational efficiency and maintenance processes. The findings contribute to understanding the Metaverse’s role in shaping the future of industrial asset management and maintenance within Industry 5.0.

The railway is often perceived as an industry where new technology is not utilised to its full potential. However, the future of the railway and its ability to respond to future transportation demands lies in its ability to adopt, adapt, implement, and integrate emerging technology. These technologies are expected to lead to, e.g. intelligent asset lifecycle management with a whole-life asset approach and digital railway industry supply chain management. The technology transformation and digitalisation affect not only the technical systems, e.g. railway infrastructure and rolling stock, but also regulations, organisations, processes, and individuals. The railway industry needs to recognise the challenges and define strategies, which enable the successful implementation of innovations in railway. Thus, the purpose of this research work is to study, explore, and investigate how implementation of innovations in a multi-stakeholder environment such as railway maintenance, can be facilitated through a systematic approach. Further, the main objective of this research is to develop and provide, a challenge-driven framework that can be used to facilitate implementation of innovations in the Swedish railway. To achieve the purpose of this research, nine (9) descriptive and exploratory case studies have been carried out. In these case studies, issues and challenges have been identified, related to: a) Lead times; b) Complex multi-stakeholder environment; c) Business incentives; d) Governance for data sharing; e) Regulations and maintenance; f) Technology; g) Assessment of innovations; h) Business models; i) Responsibilities, and j) Implementation.

To overcome the identified challenges, several artefacts have been developed and provided in this research, i.e. a) A challenge-driven mission-based framework; b) A methodology for evaluating innovations; c) Strategies and guidelines for data governance; d) Strategies and guidelines for innovation in maintenance contracts; and e) Railway domain systemic aspects for the implementation pathway. The findings and artefacts of this study may be used as a framework and a road map in any industry by providing scientific guidance in the implementation of innovations. Some of the expected benefits for organisations are: a) Reduced development and production costs; b) Increased efficiency in testing, implementing, and utilising existing innovations; c) Increased awareness in data sharing; and d) Increased implementation support. Furthermore, in the context of railway maintenance, the artefacts from this study are expected to improve the overall effectiveness and efficiency through facilitating the implementation of innovations that support digitalisation of railway maintenance. The digitalisation of railway maintenance enables fact-based decision support utilising enhanced analytics aimed for nowcasting and forecasting. These capabilities will lead to: a) Improved knowledge and information exchange between railway stakeholders to enable efficient asset management; b) Enhanced condition monitoring; c) Improved risk management; and d) Improved sustainability.

This paper summarizes the execution and results of the research project "Reality Lab Digital Railway". The goal of the project is to open up the Swedish transport administration's (Trafikverket's) core business within railway for development and demonstration of digital information logistic solutions that are tested by primary actors and end users. The results of the project can be summarized in the four areas of regulations, organization, roles and technologies that contribute to Trafikverket's ability to achieve the project goals. Examples of results are methodologies and tools for establishing and actively managing a more dynamic regulatory framework. This framework clarifies the need for innovation as well as the specification of the application of digital technologies to strengthen the railway sector's capability. To support collaboration between railway actors during test and demonstration, physical and digital assets as well as ICT-solutions have also been established. The project has also produced proposals for agreements regarding information management between Trafikverket and external parties.