The rapid growth and expansion of the Internet, as well as technical advances in the area of sensor technology, allow for the interconnection of physical objects for the purpose of achieving collective goals, which paves the way for the Fourth Industrial Revolution. The Industry 4.0 paradigm is a relatively new concept that still requires detailed investigation and discussion. Standards, technologies, and overall guidelines need to be presented; thus this review paper aims to address key questions to provide some clarity on navigating the tide of Industry 4.0. The key enabling technologies, and the extent to which these technologies can be applied in industry to achieve the fundamental goals of Industry 4.0, are presented and discussed. Current challenges that hinder