**1. Introduction**

Issues related to Industry 4.0 are constantly discussed among researchers, entrepreneurs, representatives of government agencies, and public organizations. Specifically, the impacts of the Industry 4.0 paradigm in the global and national economies, individual industries, employment, and capital markets are attracting more and more attention from economists. The global industrial environment has transformed dramatically in recent years as a result of technological advances and inventions. Industry 4.0 can be compared to three industrial revolutions that

happened in the previous centuries and represent the most significant disruptive shifts in manufacturing as a result of technology advancements [1].

The advent of the steam engine accelerated the First Industrial Revolution, which began in Britain in the middle of the 18th century. The Second Industrial Revolution arose in Europe and the United States in the second mid-nineteenth century. This revolution had characterized by mass manufacturing and the substitution of chemical and electrical energy for steam. Many technologies and mechanization had been developed to meet the increased demand, allowing productivity to increase [2]. The Third Industrial Revolution was sparked by the creation of the Integrated Circuit (microchip). Using electronics and information technology to accomplish increased automation in manufacturing is a significant characteristic of this revolution, which arose in many industrialized countries around the world in the later years of the twentieth century [1].

Every industrial revolution centered around boosting productivity. The first three industrial revolutions had a significant impact on industrial operations, allowing for increased productivity and efficiency by utilizing innovative technological breakthroughs, such as steam engines, electricity, and digital technology [3]. Industry 4.0, which could ultimately be referred to as the fourth industrial revolution, is a highly complex framework that has been commonly debated and discovered. It has a significant impact on the industrial sector because it introduces relevant improvements related to smart and future factories. This developing Industry 4.0 concept is an umbrella term for a new industrial paradigm that includes Cyber-Physical Systems (CPS), the Internet of Things (IoT), the Internet of Services (IoS), Robotics, Big Data, Cloud Manufacturing, and Augmented Reality, etc. [4].

The adoption of these technologies, which will bring together the digital and physical worlds through embracing a set of future industrial developments, is essential in the development of further smart industrial processes. This adoption includes devices, machines, production modules, and products that can exchange information and control each other independently, resulting in a smart manufacturing environment [5]. This new approach will allow the improvement of productivity and efficiency, carrying enormous potential effects, and it will support a set of economic and social opportunities among the companies that are adopting this new manufacturing paradigm [1].

This chapter intends to provide clear insight into the current developments within Industry 4.0 phenomenon, due to the inconsistency within the existing literature, some stress positive effects of Industry 4.0, while others, negative ones. As a result, the purpose of our research is to provide a full explanation of the Industry 4.0 paradigm, as well as to determine whether or not it is appropriate for businesses, stockholders, and countries to adopt this new approach. This chapter gives a review of Industry 4.0 and definitions in the literature, as well as introduces a brief on Industry 4.0's main components. Additionally, this chapter's research methodology was based on papers related to Industry 4.0, which are the most recent and cited references. As well as this study differs from past studies in several aspects, as shown in 1) It conducts a comprehensive survey of all Fourth Industrial Revolution technologies or applications, whereas earlier literature focused on one or a few technologies. 2) It performs a case study of KUKA Corporation, a pioneer company in the manufacturing technologies and applications of the Fourth Industrial Revolution.

Thus, this chapter is structured in seven sections. After this introduction about the Industry 4.0 phenomenon. Section 2 answers the question "What is the industry *Industry 4.0 and Its Implications: Concept, Opportunities, and Future Directions DOI: http://dx.doi.org/10.5772/intechopen.102520*

4.0?", presenting two points: an overview or background about Industry 4.0, and provides a comprehensive definition of this concept, its visions. The key Industry 4.0 technology enablers or components of Industry 4.0 characteristics are described in Section 3, which is divided into ten parts. The characteristics of Industry 4.0 state in Section 4. Section 5 provides an analysis of the impacts and influence of this new industrial paradigm: industrial sector, business models and markets, work environment, work skills, economy and sustainability, the value chains, and supply chains. While Section 6 presents the key drivers and obstacles or barriers of the Industry 4.0 concept; also, this part presents a pioneering experience in implementing the applications of the Fourth Industrial Revolution technology "KUKA corporation." Finally, Section 7 draws the main conclusions and findings of the Industry 4.0 vision and implications.
